Cashless Society and the End of Freedom

In the 1970’s, a group of researchers was
assigned a simple task. Imagine you work for the KGB and you need
to create a perfect surveillance system without creeping people out. And this is what they came up with. [1]
They predicted a widespread adoption of debit cards would be the best surveillance system
within the constraint of not being obtrusive. And they were right. With a debit card, you are not thinking about
surveillance. It’s been sold to you as a convenient payment
method. And yet it maintains a detailed record of
your purchases with a precise location and time. [2] This data can be sold and marketed by your provider, retailers, and payment processors,
or be collected by a three-letter government agency just in case they need to look at what
your shopping reveals about your personality – you know, for national security purposes. [3] The surveillance capability introduced by debit cards diminishes the anonymity of cash
payments. This makes it easier for the government to
collect taxes and eliminate black markets that heavily rely on cash precisely for its
untraceability. [4] But the success of such surveillance is only viable when anonymous options are no longer
available. We will soon approach that reality as we are
being transformed into a cashless society. An average pack of cigarettes in Australia
costs about $40 AU. That’s due to Australia’s heavy tax on
tobacco products, which is the highest in the world. But such high taxes incentivized unintended
behavior. [5] Australia struggles with a huge black market for smuggling cigarettes and there is a crime epidemic of stealing products from tobacco warehouses. The result is a massive tax avoidance and
organized crime which the Australian government decided to deal with by cracking down on cash. It is now illegal to “make or accept a payment
or series of connected payments in cash in excess of” $10,000 AU. Some are floating proposals to do away with
the Australia’s two highest denominations – $100 and $50 bills. [10] The goal is to squeeze the juice out
of the black market and starve out their businesses. [6] Limiting cash payments and banning high-value bank notes is becoming a global trend. In France the cap on cash transactions is
only 1,000 euros and in Italy it’s at €2,999.99. [7] The European Central Bank has recently
stopped issuing €500-notes, although they will remain accepted as a legal tender indefinitely. To put it in perspective, this little European
project of replacing 500-euro banknotes is actually going to require covering 300 billion
euros in circulation and it will cost 600 million euros. [8] In some countries, the war on cash gets much worse . India’s Prime Minister Modi banned the use
of 500 and 1,000 rupee notes basically overnight, giving Indians 50-day grace period to return
their notes. 1,000 rupees may sound like much, but it only
amounts to roughly $14. [9] This was a catastrophic blow to the Indian economy and poor working people that relied
on cash to receive wages and pay rents. The country’s economic growth slowed down
by 17% and Indian cities suffered from a massive exodus of up to 60% of migrant workers who
fled the cities because there was not enough cash in circulation to replace the two highest
denominations. [11] [12] Poor working people suffered the most from Modi’s plan, but his support was rock-solid,
because he framed it as a strike against the corrupt elites in India. [12] In fact, in all cases of eliminating
high-value notes or posing caps on cash transactions, black markets and crime is always quoted as
the main reason. However, a recent study conducted in the UK
focusing on money laundering and terrorist financing revealed that regulated banks and
accounting firms were the two biggest facilitators of illegal transfers and funding. Although cash ranked the third, banks were
almost twice as likely to be involved in money laundering than cash. [13] So as Elaine Ou from Bloomberg said: if illegal transactions are the reasoning “for banning
cash, then it only makes sense to ban banks and accounting firms first”. It seems that living in a cashless society
would be convenient for many, but an ordeal for others. Homeless people, charity workers, small retailers,
cab drivers or casual workers getting paid in cash would suffer the most in a world with
no physical currency. But there is a country closer to being a cashless
society than any other country in the world, and it’s proving everyone wrong. Sweden. In Sweden, no high street bank in big cities
handles cash anymore with 85% of the population banking online. [14] Even paying for a coffee or a bus transfer
requires mobile or card payment. Cash is so uncommon in Sweden, that even homeless
people carry credit card readers that are supplied to them by charity organizations. Donating to a church or splitting a restaurant
check among friends that used to be a domain of cash is now a matter of using inter-person
payment apps. [15] Going cashless is certainly going to have its benefits. Payments will be fast and convenient. Theft will be basically non-existent. And tax collection will be easier and fairer. In the US, people without a bank account spend 5 to 9 minutes longer to get cash than average Americans. [16] Theft of cash alone cost businesses $40
billion a year, which is more than credit card fraud, refund fraud, Internet fraud and
bad checks combined. [17] Credit card fraud results in $16 billion in losses affecting 15.4 million Americans although
this number is rapidly increasing year by year. [18] Tax evasion is a huge problem in the United States. The IRS estimates an average tax gap between
2008 and 2010 to be $458 billion. This is the amount of tax revenue the IRS
expected to be collected but was not even reported. How much of this revenue is black market or
financing illegal activities is unclear. But much of the tax evasion happens in plain
sight. [19] Recent investigations show that in total $2.6 trillion in profits is held offshore by the
US Fortune 500 companies. [20] This is achieved by abusing loopholes
in foreign countries. Four jurisdictions – Bermuda, Ireland, Luxemburg
and the Netherlands – account for 63% of all profits from American multinational companies. [21] Between 2008 and 2015, Apple earned $305 billion in revenue and paid only 5.8% in foreign tax
and returned nothing in the US taxes. They were able to do this not by hiding their
earnings in cash, but by shifting their profits through three Irish subsidiaries that are
structured so that they are not “residents” of neither Ireland nor the US because, for
tax purposes, they are under foreign control. [20] Living in a cashless society will represent a major change in economic dynamics. People will no longer have custody of their
money. All that will be left for them is a mere claim
that a number on their account balance belongs to them. But this claim only means as much as it can
be enforced. [13] During the Greece debt-crisis in 2015, banks imposed a nationwide limit on cash withdrawals
to 60 euros a day, essentially preventing people from accessing their savings in the
name of protecting national economy. The capital controls that also prohibited
foreign transfers were only fully lifted three years later. [21] Cashless society will grant banks and card companies unaccountable and unchecked control
over people’s finances. There will be no choice but to accept their
service on their terms. The affects will spill over into social and
political realms, as payment providers already ban their customers for speech or political
positions. The existence of cash made it difficult for
central banks to enforce monetary policies. During the Eurozone crisis, the European Central
Bank resorted to charging negative interest rates on savings and deposits in order to
discourage saving and boost spending. [27] The strategy of quantitative easing didn’t bring the desired results. When people started to lose interest on their
live savings, it only incentivized them to spend less and save even more. People who wanted to avoid being charged for
their savings could simply store their savings as cash in a safe. In a cashless society, this scenario would
not be an option and central banks would always have an ultimate say over people’s funds. [22] [13] [23] [24] [25] Making all transactions electronically creates troves of data that can be used to track individual
purchases or even macro-engineer economic behavior of an entire nation. [2] Data is one of the most sought-after commodities
in the world and digital payments allow companies to track real identities and build profiles
of shopping habits. For regular people, this will mean they will
no longer be allowed to buy drugs, visit a pub, or buy a book anonymously. Gradually, we are being nudged into a cashless
society. [26] Banks are making it more inconvenient
to use cash by closing down their branches or limiting cash withdrawals at counters and
ATMs. [28] In 2017, Visa ran a campaign where it
wanted to reward $10,000 to 50 US-based businesses who go completely cashless. [29] The resistance to cashless society is not all that futile. Germany is the leader of stubbornly holding
on to cash. 80% of point-of-sale transactions are made
in cash, and an average German carries over 100 euros in their wallet. [30] [31] Big supermarket chains only began
introducing card payments in 2015 and tens of thousands of restaurants and shops are
still cash-only. Most Germans view cash as a means of freedom
from government control and a way of preserving privacy and anonymity which they are refusing
to give up.

100 thoughts on “Cashless Society and the End of Freedom

  • People will always want a hard currency for the reasons you named, just look at gold/safe sales.

    German here btw, yes we carry a lot of cash. I carry 30-40€ but I know people who carry 200€ and more and more. Also prostitution is legal in germany – there you have another reason why people want cash.

  • Maybe this move to a cashless society will make sure the maximum number of people get hit by the next financial crash that will probably be caused by a "glitch", whenever that's coming. In my country they are printing new currency and have advised people to surrender all the old currency, yap so all those people with physical cash stored somewhere have to visit a bank to get it replaced. The reasoning behind this is to combat corruption, so all those black market drug dealers who've buried their cash somewhere can't use it anymore. Since if they are to try and replace it, the bank flags large amounts, you've got to show the legal means you used to acquire said cash. Seemed reasonable enough until i learnt other African countries like ghana were also replacing their currency in the same time period. Weird…. i don't know where that trail leads to.

  • Most people don’t have any cash anyway, just debts. For us that are debt free we will be in a barter system. I hardly buy anything anyway,

  • In a way it's good — with them trying to promote cashless societies, it's high time we move towards a moneyless one.

  • Loved knowledge on this channel.
    Unfortunately, demonetized.
    Hoping policies get updated and you get benefits of your hardwork on these videos.
    It also suc*ed during demonetization.
    also, Love from India.

  • President Trump, is in the middle of ripping the US from the "fed" (a private entity) and bringing us back to the Gold standard.
    If this is able to happen, credit will slowly start dying off.

  • They want to do this now in Mexico, because you know the "cartels" and national security, you wont be able to pay with cash at gas stations and such, and it's known that banks like HSBC and others work with the cartels money…

  • Dont fortget: having the possibility to buy something more ore less "anonymous" isnt equal to having the possibility to buy something.
    indeed, thats the "freedom" youre arguing for.

  • Does anyone else feel despair for the inevitable future whenever watching TheHatedOne’s videos? Everything that is going on is out of your control and people just don’t care enough about privacy, only for convenience.

  • Cashless Society for a Contry Like Brazil will be extremely easy to implement… i'd say more easy than in any country on the northern hemisphere. Crime is extremely high here, and most of the time the bandits wants the cash of the people, so much so, most of the time the ones who can, walk only with their cards and a very very small ammount of cash for little transactions. i can say this for one, i never had more than R$500 on pocket as physical cash at any time… but this doesn't deter criminal bandits, because card cloning is very very common too, especially if you do online shoping… so i think that to make a society cashless here, they'll need biometrics… wich, surprise surprise, they are implementing en masse. most of the ATMs today have 2 factor authentications with hand scans, and the banks will literaly eat you alive if you don't use them.

  • This is absolutely true. I live in Sweden and I haven't used cash in many years. Nether does any of my friends or my family.
    You can still go to an ATM and make a Cash withdrawal, but no banks handles any cash. The cashless society is all about control and surveillance.

  • The end of freedom is coming so quickly. No longer can we go unknown. We still won't be able to know what the people in power are doing. Now they will know everything we do. That kind of power imbalance cannot be held without force. How long till you accidentally drop a bit of paper out of your pocket on the street only to get a fine in the post a week later. How long until a minor crime we all participate in from time to time is impossible. How long until we feel powerless to do anything even close to illegal because of how easy it has become to be found. How long until they start introducing laws that crush us even further, with the knowledge that we have no choice but to conform. How long until they simply turn you off. No longer about to buy anything. I don't advocate crime, but people need to feel like they can commit a crime and have the possibility of getting away with it. I don't want to live in a world where all crime is impossible to get away with. That would mean a total lack of privacy and self determination. Nothing stopping the leading powers from forcing you to follow any law they come up. After all, they know exactly who you are, and exactly what you're doing. You won't have a choice. Not even to question it. Questioning the government, sorry buddy, just turned your money off. Maybe next time you will do whats right for the greater good!.

    All those dystopian movies from the 80's and 90's imagining a world 30-40 years on were supposed to be over dramatic. What a world.

  • Bills is same as nothing, if govs wanted, they can make every bill useless. We really dosnt have any other options than our own money and that is what ever electronic *coin.

  • A cashless society wouldn’t be that bad…

    But only if everyone uses Cryptocurrency instead of cash, not credit cards.

    Also, I, as a German, gotta say that people here use cash not because they’re privacy-conscious but because of culture.

  • Demonetization in India was the biggest money laundering scheme ever executed. Many poor people died standing in long queues at the banks while the rich were unaffected. Recovering black money my ass! 99% of the currency was deposited and it costed a lot of money. Anything that the Neo Nazi Prime Minister of India announces over night turns out to be a disaster for the people of India. Same thing applies to the current ongoing hot topic about India

  • That's why we have bitcoin. Although most people don't use Bitcoin. But some people who care about privacy use Bitcoins.

  • Governments: we are going to eliminate all fisic money so every transaction can be register

    Crypto currently : i am going to end this man hole career

  • What about cripto and this? I mean, I don't know how cripto currency actually works, but using cripto has a payment method could be a good fit right?

  • Cashless societies are haram . The 👳‍♂️👳‍♂️👳‍♂️won't go for it. Since the 👳‍♂️👳‍♂️👳‍♂️will control the West in the near future 💲💰💵💴💶💷💳💸will be here to stay.

  • You have 2000$…. unless we say we're bankrupt, or don't like your opinion, or it's a moment when multiple people need it the most.

  • the only point of a cashless society is for the end fo freedom of the individual. making excuses for the criminal banking cartel that an all-digital currency will somehow stop crime, money laundering, tax evasion etc. means you are a vichy sell-out.

    'and that no man could buy or sell save he that had the mark, or the name of the beast, or the number of his name.'

  • One of the few advantages of Germany modernizing so slowly: almost everyone still uses cash on a daily basis. I don't even have a credit card (and don't want one neither). I use cash as often as possible and will keep doing so as long as possible.

    EDIT: just now saw the last seconds of the video addressing germany. so yeah, what you said is absolutely true.

  • Revelation 13:17 KJV — And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

  • Cash is needed especially in a disaster area. Japan is a prime example. You can't use your e-payment if your area has zero electricity and internet.

  • "…to buY or sell…" Mark of beaSt as RFID implanted will tie it all together…removing many from access to supplies needed-Plan ahead! Learn basic trade with one another-

    Later in the Book, it states many enter heaven with one hand-that is better than not to enter at all!!! Those receiving it, and then chopping off-that which does not serve the BodY

  • I'm okay with it but only in an ethnocentric society. It certainly wouldn't work well in a "diverse" society since it only fans the flames of war.

  • Informative video but I can't share this with some people because of the unnecessary waterboarding swedes. 4:33 Some people I might have shared this with would likely find this more shocking and vulgar than humorous. Perhaps you may want to consider a wider audience when choosing your cutaway content.

  • I've been making a conscious effort to pay with cash whenever I can.
    It was sparked when the talk about "crypto being private" gave the response: It's not really, cash is better and doesn't cost a country's worth of electricity.

    And was ignited I forgot my wallet and burrowed some cash from a friend to get home.
    I couldn't buy a ticket for the bus and was forced to use a public-transport nfc card, which I didn't have.
    So I went into the shop to buy one, but they couldn't put credit on it for me, and the only way to do so was in a machine with a debit card, which I also didn't have.
    I probably could've asked someone to use me as a proxy ATM. But I figured it wasn't worth it and just walked the 5km to the train station where I could still buy a ticket.
    This was because the bus drivers were getting robbed.

  • That's where bitcoin comes in 😉 you own your money and no one is tracking you. That's the new cashless society we will live in.

  • Hell no, RED LINE boys, we can't let them ban cash and give them power over all our money, I'll protest in the streets over this, something I've never done in my life.

  • Its impossible. If they eliminated cash we just gonna create new black market currency using bitcoin or gold i guess

  • All future societies even in sci-fi have the goal of becoming a cashless society before becoming a monetary-free society

  • Ya and that demonetization didn't even worked, and the gov didn't got black money, if u want more info check out dhruv rathee

  • I'll try to get bitcoin or monero wallet to donate.
    You might get some hate from crazy indian modi supporters, so just ignore them.

  • How else can one make sense of the dire warning in Revelation 13:17, which seems to indicate that every person on the earth will one day be barred from buying or selling unless they possess a “mark” of some kind on their hand or forehead.

    Exactly what this “mark” is, nobody knows. But it seems clear that there will be some kind of tracking system capable of cataloging transactions. As long as paper money or coinage exists, it would seem impossible to nail down every single transaction, personally identifying the buyer and seller in a real-time database.

    Not only in Christianity

    It is also prohibited in Islam
    As long as the world’s fastest-growing religious-political system — now encompassing one-fifth of the world’s population – considers digital currency haram, or forbidden, it is unlikely that such a system would gain widespread global acceptance.

    This could be a part of something big that anti-christ is plotting.

  • In Australia and other companies we have a ‘buy in’ which came in after the GFC. The buy in is a term for the banks being allowed to withhold your money and use it to pay back their own loans and buy themselves out of dept to stop their collapse.

    Yes in Aus your money is insured for up to 200k if the bank collapse but!! That being said the ‘buy in’ happens before that so you loose your money!

    There is a bank in NZ and they say this on their website which is super transparent but scary nonetheless

  • It can be sold but it really isn’t. Do you think that rich and powerful people were rich and powerful before debit cards? They don’t need that to get what they want. I don’t know anyone that won’t take a prepaid card or cash. Paranoia

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