Banks Seek Monopoly Over Economy: “Cash Is Being Gradually Taken Away”

cash_futureBy Mac Slavo

There is a war on for the extermination of cash.

It is the ultimate monopoly game, but there are those who are willing to put up a fight to keep cash in the game.

The powers-that-be on Wall Street and in the central banks are aiming to eliminate paper money in large part to continue “sustaining and even intensifying the central banks’ nightmarish experiment with negative interest rates” – a doubly dangerous effort at economic control.

And banks stand to have all the control as digital transactions flow through their institutions, closely monitored and accumulating fees, penalties and charges that enrich the banks and hold customers hostage.

As Europe moves to take the 500 Euro note out of circulation, former Treasury Secretary and enabler of past crises, has called for an end to the Benjamins – the celebrated $100 note of outlaws, gangsters and all those who would oppose the new world economic order.

As Wolf Street notes:

Those motives include sustaining and even intensifying the central banks’ nightmarish experiment with negative interest rates, increasing public dependence on big banks, destroying the last vestiges of personal financial freedom and anonymity, expanding government surveillance of and control over the economy, and in the case of credit card companies and fintech firms, doing away with their biggest competitor, physical currency.

The powers that want to kill off cash already have vital technological and generational trends firmly on their side, as a result of which cash’s days as a commonly used payment method may well be numbered anyway. They also have the added bonus of widespread public ignorance, apathy, and disinterest.


“It would be fatal if citizens got the impression that cash is gradually taken away from them”: Bundesbank President Weidman.

As Don Quijones argues – the countries that have been quickest to adopt cashless societies in Scandanavia tend to be very well adjusted and relatively trusting of their governments.

By contrast, Americans, developing countries, and even Germany and Japan have less trust in their government, and will likely put up a fight against attempt to disarm cash:

All too often we hear about the countries in Europe and elsewhere that are furthest along the path toward a completely cashless existence — countries with high levels of public trust in public institutions such as Denmark, Sweden, Australia and Singapore. By contrast, we hardly ever hear about countries where public trust is low in government and financial institutions and physical cash is still revered. They include many of the nations of the Global South as well as two of the world’s biggest, most advanced economies, Germany and Japan.


“Cash allows us to remain anonymous during day-to-day transactions. In a constitutional democracy, that is a freedom that has to be defended,” tweeted the Green MP Konstantin von Notz. Even the head of the Bunderbank, Jens Weidmann, criticized the government’s proposals, telling Bild (emphasis added): “It would be fatal if citizens got the impression that cash is being gradually taken away from them.”

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The right to a free exchange medium has been understated in Constitutional debates, as well as outlook to the global future, though gold and silver is mentioned in Article I Section 10.

But the going trend towards the use of credit/debit, phone apps and other digital payments strips away the fundamental free exchange of currency that historically come with physical currency.

Instead, it grants something pretty close to a monopoly for the handful of banks and online entities like PayPal who will operate the systems, decide the fees and surcharges, and freeze accounts for behaviors that could include things like trying to sell a firearm on a platform that has a policy against it.

Cash transactions (as well as those made with gold and silver or historically utilized mediums) are practically anonymous, rather than scrutinized and available as evidence to creditors, competitors, prosecutors or those with an agenda.

It will also make it harder for small businesses, who stand to be forced out of cash-only operations and onto the reservation of digital payments, where they will have to comply and qualify for status.

If cash dies, they will control authorization … they will hold nearly all the power.

You can read more from Mac Slavo at his site


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18 Comments on "Banks Seek Monopoly Over Economy: “Cash Is Being Gradually Taken Away”"

  1. eliminating money is NOT the issue. This author and others continue to distract you with non-issues. The fact of the matter is that an electronic currency would be fantastic! The problem is trusting the banks, losing more of our privacy and having more government control over what we do with are wages. THAT is the issue.

    OTH….look at the other extreme. Let’s pretend they eliminate all credit and it becomes only a cash society. No credit will likely lead to the big bank failures and the disappearance of government snooping into our private lives.

    Since the big banks nor government will never give up control over our lives, the best choice is an ALL CASH SOCIETY, and no credit whatsoever.

    Yeah….you gotta pay as you go. Its called responsibility and would do wonders for our society.

    So you can thank these useless authors who continue to frame the issues (and non-issues) in the wrong context.

    • Huh? Having one option, (credit) is
      the issue.
      The article is pointing out, that when you eliminate money in a cashless society, it only benefits the banks because of the control they already have. This isn’t the context you’re looking for?

      • Use your head man. Stop letting authors set the context. The issue IS NOT whether its a cash or cashless society. THe issue is the constant and far-reaching control that banks and the government have over our lives. If they were to stay in control, then certainly an all cash society would benefit us all. Either option would be fine with me if the bankers and gov were abolished, as we know them.

        Get it yet?

        • So your idea is to make the government play nice and stop messing with every part of our lives? Good luck. I just want to stop the door from closing all the way (cashless). The goverment is going to bone you no matter what so addressing corruption would be ideal,but it’s fantasy.

          • sorry to say, but you guys are pretty slow and have a reading comprehension for a third grader.

          • Good point captain delusional. The lodestone you call a brain is working overtime to make toast, so I will ignore your repeated bleating about fantasy land scenarios, where the bad guys give up and start being honorable. Btw it’s “reading comprehension” OF a third grader, you 3 watt bulb.

        • Dis-info & deliberate confusion. This guy is a professional.

    • “The fact of the matter is that an electronic currency would be fantastic!”

      Fantastic to who, you?

  2. The mark will come soon…. repent while you can… No cash means bank can you say you have nothing and guess what… you have nothing….

    Always be a light shininginthedark.

    • Unfortunately for that myth/meme the PTB no longer need a ‘mark’ of the beast – it will be entirely computer based bio-metrics. Same applies to the chip. It’s not going to be anything physical, just data.
      They have been encouraging beliefs like yours for ever as misdirection. To direct a huge number of ‘believers’ to think they are only enslaved if/when they ‘get the mark’ or submit to being ‘chipped’. Not true unfortunately.

  3. The greedy evil banksters have had a monopoly over our economy since the Federal Reserve was created by them. Now, they’re expanding their reach directly into our pockets. I truly despise every one of them and every candidate whose campaign is being funding by them.

    • A small correction, seems they got it all before most of us came up from underwater for a breath! If you’ve something left, don’t let the Capitalists know, they’ll write laws against your right to it!

      • True, but they don’t need laws because with weak national leaders under their control, they will do what they want anyway. This has been the case for decades. You’re right – it was a one-two punch most of us didn’t even feel.

        • keep in mind, Marlene, they-our new Corporate Citizens- HAVE BEEN THE ONLY ONES WRITING LAWS, minus a few unfunded and not enforceable Consumer and Disaster Aide (LAUGH OUT LOUD!) Laws, for over 40 years! ALEC isn’t dead. Just some Corp Citizens found it “unpopular” to still openly affiliate with it.

          • Yes, I know. BYW; cruz support ALEC because he needs it for his S.306 scheme. Read: “Ted Cruz to ALEC: ‘Stand Your Ground'” The Washington Post. Thank you for your comment.

  4. We will have to fall back to using barter – like Hitler was forced into when the banksters froze Germany out of their money system.

  5. The 100 dollar bill is in every corner of the World. It’s used for peoples savings and for safe currency — The Feds are doing this in order to Stop access to Cash in all these dollars worldwide. They are not going to accept the rest of the worlds C notes and screw the worlds population out of their savings. Stopping a cash economy will be as bad as taking away your guns – hands down ! Russia kicked out the IMF in 2006 and the Rothchilds in Moscow are on the way out if they don’t change their rules. This also is why – the Hate Russia Propaganda since they Roths also dictate the Mainstreet News.

  6. John Cook – good point – barter is (methinks) the only real answer. I would be willing to trade for most everything.

    The banks should go the way of the Icelanders – jail them all. Throw away the key. Start a more humane system – barter or no usury (according to the bible).

    btw: eunsuh – There is no doubt that the banks and gubbers in DeCeipt wish to track your every purchase and withold funds to keep folks hostage.

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