Nowhere to Hide: IMF Advocates a Cashless World

[bitkilo]

“The European Central Bank (ECB) does not want that depositors to keep their money under the pillow. If any bank in Europe goes bankrupt, then depositors have a guaranteed right that the state will return them the amount of up to 100,000 euros. But not more,” the economist told Sputnik Germany.

https://www.lewrockwell.com/2017/04/no_author/totalitararian-dream/

The banks and the IMF should have no say whatsoever how any of us decide to hold our money.

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[Hydrogen]

Banks want full control over the transaction of money.

That's what a "cashless" world would give them.

A monopoly over currency exchange.

Monopolies restrict progress and innovation. They're centralized hierarchies which enable exploitation and abuse of power.

Monopolies have been bad for civilization and society from a historical perspective.

They're one of the primary reasons healthcare is unaffordable and expensive for many.

[omonuyak]

“The European Central Bank (ECB) does not want that depositors to keep their money under the pillow. If any bank in Europe goes bankrupt, then depositors have a guaranteed right that the state will return them the amount of up to 100,000 euros. But not more,� the economist told Sputnik Germany.

https://www.lewrockwell.com/2017/04/no_author/totalitararian-dream/

The banks and the IMF should have no say whatsoever how any of us decide to hold our money.

I know IMF and bank will do everything to keep you bringing your hard earned to them. That is the major way the elites and politicians can control the world and humanity and that is the reason they are fighting bitcoin and crypto currencies. In every country few enjoy the benefits of banking and those are elites and they children.

[bitkilo]

“The European Central Bank (ECB) does not want that depositors to keep their money under the pillow. If any bank in Europe goes bankrupt, then depositors have a guaranteed right that the state will return them the amount of up to 100,000 euros. But not more,� the economist told Sputnik Germany.

https://www.lewrockwell.com/2017/04/no_author/totalitararian-dream/

The banks and the IMF should have no say whatsoever how any of us decide to hold our money.

I know IMF and bank will do everything to keep you bringing your hard earned to them. That is the major way the elites and politicians can control the world and humanity and that is the reason they are fighting bitcoin and crypto currencies. In every country few enjoy the benefits of banking and those are elites and they children.

From my view there is no benefit of large banks, just about everything they earn is at the expense of someone else, most likely in a far off country that nobody thinks about.
Large banks have been the cause of the last financial crisis and not much has changed since then.
It's hard when it's the owners of the banks (the fed) bailing them out each time at the government and citizens expense.

The current financial system is nothing but a debt based joke, bitcoin is more than a currency.

[Xester]

“The European Central Bank (ECB) does not want that depositors to keep their money under the pillow. If any bank in Europe goes bankrupt, then depositors have a guaranteed right that the state will return them the amount of up to 100,000 euros. But not more,” the economist told Sputnik Germany.

https://www.lewrockwell.com/2017/04/no_author/totalitararian-dream/

The banks and the IMF should have no say whatsoever how any of us decide to hold our money.

The reason why they will only return a maximum amount of 100,000 euros per individual since the rest of the amount were already spent on bitcoins. The banks were controlling the flow of cash in the society but today they have seen the threats to their business and since it is hard to combat they have join the flow and hoard a huge amount of bitcoin at their disposal. Later on they will still have the monopoly of almost all digital currencies and even if we have turned digital they are still at the top.

[Mometaskers]

“The European Central Bank (ECB) does not want that depositors to keep their money under the pillow. If any bank in Europe goes bankrupt, then depositors have a guaranteed right that the state will return them the amount of up to 100,000 euros. But not more,” the economist told Sputnik Germany.

https://www.lewrockwell.com/2017/04/no_author/totalitararian-dream/

The banks and the IMF should have no say whatsoever how any of us decide to hold our money.

If you have more than 100,000 euros, why the heck would you even keep them in bank when you'll on get less when they go underwater, which eventually they would?

Money is power and so they further make us powerless by taking money out of our control. Just imagine going against the government against such a scenario. They can simply declare you a danger to the state and freeze your bank account. With no cash at hand, how would you even survive? They probably don't have to go that far though, the consequence would be clear and will cause a chilling effect on dissent.

This is why bitcoin need to get its act together. I don't know what solution would be best but we better get microtransactions back. The way things are currently we still need to cash to go through our day-to-day activities. I only got into bitcoins for profits (hence the lack of knowledge about the tech stuff) but whenever I read news like this, I feel more afraid and hope that bitcoin (or maybe some other crypto) can save us from the bankers and the state.

[The Sceptical Chymist]

The irony is that this periodically becomes a topic on a forum dedicated to the most UN-physical form of money you can imagine.   So if it's a problem for any of you, there's always precious metals and other hard assets in which to store value.  Who here still pays with bills and change,  anyway?

[mindrust]

“The European Central Bank (ECB) does not want that depositors to keep their money under the pillow. If any bank in Europe goes bankrupt, then depositors have a guaranteed right that the state will return them the amount of up to 100,000 euros. But not more,” the economist told Sputnik Germany.

https://www.lewrockwell.com/2017/04/no_author/totalitararian-dream/

The banks and the IMF should have no say whatsoever how any of us decide to hold our money.

If they ever make a move  about this so called cashless wold to make it real, they will be ruined so bad. I mean so bad that the whole country might collapse because of the decision. People will dump their papers like there is no tomorrow and gonna buy every piece of gold/land/house they can get. Every real asset's price will reach to the moon. Maybe that's what they want, to give some life to the economy, i don't know.

But still i can't help but hate the idea and i don't know why. I feel like a trapped animal when i hear the "cashless world", i know there is a danger but i can't tell what exactly it is.


Btw; I don't keep my money in banks. Maybe that's why  i am being hated.   Fuck banks.

[jayc89]

The irony is that this periodically becomes a topic on a forum dedicated to the most UN-physical form of money you can imagine.   So if it's a problem for any of you, there's always precious metals and other hard assets in which to store value.  Who here still pays with bills and change,  anyway?

There's a bunch of people that are on this forum that stills pays with regular cash. Bitcoin might not be the one to get promoted into the IMF decision of Currency circulation though the technology is definitely going to help the Digital Currency revolution.

[panju1]

The people will just shrug off the efforts of governments and agencies like IMF to control their finances.
Younger people will move to Bitcoin. Older people will shift to gold.

[darthmaul]

Cashless world means controlling all the money by central banks and each every transaction going through them. This will fill up their already fat wallets to bigger one. They have fear of loosing their money when currency like bitcoins comes into effect. If we are saving all of our money in bitcoin and gets international recognition then one day bitcoin might create monopoly by itself. However  bitcoin was just an example but it can really go over the head of banks. Moreover, banks does not go bankrupt they just steal our hard earn money and provide cheap services for us. At least local banks do stuff like this.

[ImHash]

So why are you even reading their stupid news? who cares?
People at the end are the ones deciding what to do.
I'm sure if bitcoin scales to be worthy of holding a value equal to $500B then many green continent residents will notice it and see the benefits of using and turning their wealth into bitcoin.

But honestly I for one am disappointed in bitcoin because of Wu and his gangsters, they have lowered the prestige of bitcoin to a thugs levels.
We need much higher prices for other people to start big mining farms in other countries than China to take the power of deception and manipulation from kinds of Wu which are sabotaging the process of bitcoin's growth.

[kolesozw]

I'm much more concerned about  the "Indian Experiment". In India, they:

Done: Removing 83% of the cash flow (banning big notes)
Pending 2020: Removal of all ATM machines and moving to cashless economy.

Because if it succeed, this mean  spreading it and a TOTAL control over us.

[MingLee]

“The European Central Bank (ECB) does not want that depositors to keep their money under the pillow. If any bank in Europe goes bankrupt, then depositors have a guaranteed right that the state will return them the amount of up to 100,000 euros. But not more,” the economist told Sputnik Germany.

https://www.lewrockwell.com/2017/04/no_author/totalitararian-dream/

The banks and the IMF should have no say whatsoever how any of us decide to hold our money.

Yeah, well, the IMF is definitely a unique "contributor" and it might have a bit more say in what we can do with our money than what we want. Of course they all want to be able to manage what we have, and at that point it really ends up being the perfect regime to maintain complete control over the citizens, like the article implies.
The EU/ECB is a racket, I hope it breaks up completely. Maybe Britain got out just in time to avoid BS like this from infesting their country.
What else would the EU want? Complete control over its citizens, demographic replacement, it's perfect.

[yugo23]

“The European Central Bank (ECB) does not want that depositors to keep their money under the pillow. If any bank in Europe goes bankrupt, then depositors have a guaranteed right that the state will return them the amount of up to 100,000 euros. But not more,” the economist told Sputnik Germany.

https://www.lewrockwell.com/2017/04/no_author/totalitararian-dream/

The banks and the IMF should have no say whatsoever how any of us decide to hold our money.

Hmm...
I might be wrong but that's not the case here...

That's just incitation. They try to convince you that banks are safe and solid (LOL). But they're not forbiding in any way to keep your money in cash in your pants if you wish to do so.

[pseexh]

The people will just shrug off the efforts of governments and agencies like IMF to control their finances.
Younger people will move to Bitcoin. Older people will shift to gold.

The state wants to control all the finances of a person and the system will not allow a person to control his own money. Soon begin to control bitcoin and gold.

[Vishnu.Reang]

I am not that worried. Most of my wealth is invested in the form of real estate, equities, and treasury bonds. So even if they do some sort of demonetization, it is not going to affect me much.

[Forester618]

I am not that worried. Most of my wealth is invested in the form of real estate, equities, and treasury bonds. So even if they do some sort of demonetization, it is not going to affect me much.

You are wrong. When you own real estate that brings you permanent loss. Only when you sell or rent the property for rent you will have the income. Where do you take clients if they don't have money? Or they'll pay you-cash money, and the government will take 50% in tax.

[Mometaskers]

The irony is that this periodically becomes a topic on a forum dedicated to the most UN-physical form of money you can imagine.   So if it's a problem for any of you, there's always precious metals and other hard assets in which to store value.  Who here still pays with bills and change,  anyway?

There's a bunch of people that are on this forum that stills pays with regular cash. Bitcoin might not be the one to get promoted into the IMF decision of Currency circulation though the technology is definitely going to help the Digital Currency revolution.

Yup, true. I can use credit cards when shopping in groceries or malls but for everything else here, I need fiat. Not even all shops here have those card terminals, would have been less of a hassle.

[andrei56]

“The European Central Bank (ECB) does not want that depositors to keep their money under the pillow. If any bank in Europe goes bankrupt, then depositors have a guaranteed right that the state will return them the amount of up to 100,000 euros. But not more,” the economist told Sputnik Germany.

https://www.lewrockwell.com/2017/04/no_author/totalitararian-dream/

The banks and the IMF should have no say whatsoever how any of us decide to hold our money.

The issue is they don’t think that is your money they think it belongs to them because they are the ones to print it, also they want your money in a bank so it is easier to freeze or to steal to pay their debts, so this is another reason to buy bitcoin.