THE DEATH OF CASH

Earlier this week it was announced that a new scheme is to be launched which will drastically reduce the requirement for cash. The scheme is called Contactless and will involve a new piece of plastic electronically connected to a credit or debit card but can be used for small transactions such as buying a pint of milk at your local corner shop.

But what this scheme is really about is burying cash in a grave.

Why?

Because the banking system demands that electronic money cannot be repaid in cash.

Why?

Because the banks don't have it!!

The cash reserves of banks have been dwindling and becoming smaller and smaller in comparison to the amount of money in circulation.

If we were all to go to our banks today and demand withdrawing all our savings in cash the banks would close.

THEY DON'T HAVE THE CASH!

IT IS ALL A LOAD OF BOLLOCKS!!

They loan you the money for your mortgage. They don't have that money in cash. It is simply typed into a computer and you are in debt to hundreds of thousands of pounds. But they will take you to court for recovery and demand repayment in solid physical assets.

So cash is not good for them, for while we still use cash there is still the possibility that we all demand our savings in cash, and when the banks are found out that they can't fulfill that demand they will lose their power because they will be out of business. Hence the "kill cash" movement.

NB in the following article note how the idea is posed as a wonderful revolution. But also how it will operate; you will hold the card close to a reader. This is how the implantable microchip will operate when it is eventually used for financial transactions (besides the every millisecond tracking and other nefarious unknown possibilities).

================================

From http://money.guardian.co.uk/saving/banks/story/0,,2074949,00.html

Smartcard heralds cashfree era


Ed Ewing
Tuesday May 8, 2007
Guardian Unlimited

The days of struggling to find the right change were declared over today as Britain's banks announced the next generation of cash smartcards.

"Contactless credit and debit cards" will be launched in London this autumn, with a nationwide rollout to follow in 2008. The "tap and go" cards will allow users to make minor purchases without having to swipe their cards or enter a Pin number.

Announcing the new technology, the UK payments association, Apacs, said: "Contactless technology will be available for transactions of £10 or under. Customers will simply hold their upgraded card up to a secure reader to make their payment in participating retailers, outlets and vending machines."