Topic: Nowhere to Hide: IMF Advocates a Cashless World - page 2. (Read 2953 times)

#1 No one said banks and corporations are the same.
#2 Corporations do not set up banks.
#3 Corporations do keep their money in banks. Specifically banks which function as tax havens.
#4 Many large corporations have $20-$50 billion usd stockpiled. That money has to be stored somewhere & banks is where they store it.

People don’t want to have responsibility of their actions, they want to be relieved from it, that is why they don’t want to hold their own money they want someone other than themselves to make their decisions, it seems dumb, and it is, but that is the way a lot of people think.

This is wishful thinking on your part

In the first place, governments don't need to ban gold because they control its price. Yes, you may indeed claim that they may lose this control, but if it ever comes to that, you can safely forget about gold being confiscated at the airports when people will be trying to leave the country. The catch is that when the government can't control its gold, it will be less likely to be able to control its population. In other words, the days of this government will be numbered. Though this still won't prevent your gold from being "confiscated", now by street gangs

You'll see the limitations of gold once people trying to leave the country with their wealth in form of gold, get confiscated in the airports of all their gold, just like that, really easy.

Meanwhile, people that did their homework and admitted bitcoin's superiority, will have their wealth all in on bitcoin a long time ago, and they will be able to cross any borders seamlessly carrying unlimited amounts of money without being detected by anyone.

Your choice.

I guess that it won't work out these days

Gold is accepted universally across the borders and countries. It is even more universal than the US dollar. Even if the US bans gold and starts enforcing this ban, in today's world that will likely mean the end of the US government itself, surely not gold as a safe haven. These days are certainly not those days. Remember, the possession of gold is pretty well correlated with the possession of guns. In other words, come and take it

Fits their agenda of completely ruling our lives. All our money in plain sight, the mere hint of dissent enough to cause our accounts frozen. Makes political harassment easier.


Yup. They'd probably just drop their metals and switch to bitcoin, further increasing demand and by extension, prices. They'd probably just have to shutdown mines if they really want to hurt it but hopefully at that point it is already "too large to fail" like the banking industry.

This is exactly when we, bitcoin holders, get wealthier than we could ever imagine. As the government removes cash, people has no way out but to be forced to learn what bitcoin is and get involved. The government will eventually demand that all gold gets deposited on their banks too just like it happened back in the day. Remember that a single law can rule gold out as a safe haven.

The last we would have is then bitcoin living in the outside of the system, with nodes spread all over the world (which is why the government funds big block agendas, so they can stop this from happening).

Stay strong, run your Core node and hold, the moon awaits. We will win.

In the current pseudo fractional reserve banking system, a cashless world is completely impractical.  The global banking system has already suffered a couple of big wobbles - in 1929 and 2008 - and who knows what will have happened a couple of hundred years from now considering that the banking system is solely based on debt and represents no value.  Existing money is only based on previous fake money and it goes on and on until exponential growth stops, which it inevitably will.

More trust in banks is completely stupid since you'd have to trust a private company to have the money for you.

A person needs to control their own money, and a "cashless world" as they would want it doesn't give anyone control but governments and banks.

You make a few false assumptions in your post

First, banks and large international corporations are essentially the same. Some corporations even set up their own banks (though the connection may be not open, of course), so they can't possibly steal their own money. Further, you erroneously assume that the wealth of both big and small corporations consists in money they keep in banks. This is obviously not so. Even the largest corporations may have a very small amount of money in their bank accounts, just enough for current operational expenses. And if these expenses are small it doesn't make sense to keep plenty of money in the bank account

There is no any monopoly over currency exchange. You can go in a bank and exchange your money by bank's prices or can go in a street exchanger and exchange there. The world is too far from the bank's monopoly, baddy 

Real Estate investments only make sense when the economy functions normally. It doesn't make sense to build your portfolio upon Real Estate while the central banks are printing money out of thin air.

Real Estate are not liquid assets. In an economical crisis, you won't be able to sell them fast. Because nobody will want them. Think about it, everybody needs one house to live inside and maybe one holiday house to have fun. What you gonna do with the third one? Doesn't make any sense. Even the second house doesn't make any sense to most people. You can rent the third, but you will be just another parasite to your country's economy.

When the markets crash (they will crash eventually), your RE investments will be worthless. Everybody will be running for another country's FIAT, or most likely, it will be gold they would want to have. (Gold it is If its the USA who is having a crash)

Bitcoin also is keeping to take more air because FIAT bubble haven't burst yet. When it does, nobody will want bitcoin neither. (maybe they will, it depends on how bad the situation is)

I forgot to add: What is more dangerous than owning houses is that borrowing money from banks to own them. Owning RE itself may not harm you till everything goes fullshit but you'll get rekt easily if you owe money to the banks.

I think it would be beneficial to have a cashless world for the following reasons:

(1) Safety;
(2) Authenticity/Reliability; and,
(3) Convenience.

Although there may be drawbacks in the implementation of a cashless world, there are undeniably more benefits having it that (latter) way to cope up with times.

Note: When I say convenience, I meant there is no need to carry a huge sum with you nor wait for a change in every transaction.

Remember when Donald Trump complained corporate taxes in the united states?

He said none of america's wealthy nor american corporations were able to bring their money into the united states to help its economy due to tax rates being too high?

I wonder sometimes, if those high tax rates aren't deliberately implemented to keep their billions in offshore bank accounts.

So that when the world economies begin to crash, banks can steal from the wealthy and big corporations whose money they're holding.

Donald Trump is a billionaire, but the majority of his money is probably held in accounts of foreign banks. The same can likely be said for google, apple, microsoft--many big corporations and wealthy elites.

If that corporate tax rate is reduced, as Trump has planned, things are going to get very interesting if big corporations and wealthy elites are able to extract their money out of the foreign banks where they're held, almost as a form of ransom.

As to me, that's mostly bullshit

If they actually wanted to rip you off, they could do that with cash as easily as with any other money (digital or otherwise). You seem to have never heard of confiscatory monetary reforms when all cash is announced null and void overnight (yes, exactly that happened in the past with some currencies). In this manner, cash is no salvation either (let alone a safe haven). Bitcoin in this aspect looks more promising overall, but you should still never forget that money is not wealth itself

But in my opinion it is investment in real estate is a very good source of income. It does not matter what kind of property is residential or commercial.

One word: "Sheeple"

The government has an insurance of 100k$/€ per person (per bank in some countries) but they won't pay you interest rates for your lost time. Your 100k may lose its buying power completely during that time.

Unless you don't have anywhere to hide your money safely, depositing in a bank makes absolutely no sense.

That's why they are giving negative (or zero) interest rates. They want you to spend your money, they don't want you to save them. They are ripping us off.

When you have no cash (or some other asset as liquid as cash-might be gold or bitcoin), you will stay vulnerable to a financial crisis. They don't want you to stay liquid. They want to bury you down with Real Estate investments, Iphones, Car loans... When the shit hits the fan, you won't be able to lift a finger and banks will you rip you off one more time.

Agreed.
It seems like people care much more for their money than for their private informations.
I prefer to see it public what I earn and where does it go than to have my phone number published with my living adress ^^

Exactly. All fiat money are issued by and guaranteed by the issuing authorities or governments via the central banks or any financial institutions. Consequently, authorities can exercise state power in cases of emergencies over our money. This happened recently in some European countries where savings in the banks were confiscated to finance the state.

No wonder that more and more people are looking at cryptocurrencies to protect them in times of economic uncertainties, chaos and problems. However, it can also mean that some governments can be critical of Bitcoin because it can be beyond their own control.

To a common man, the probability of a bank going bust is lesser than robbers striking at your home. Especially if you choose a large, secure bank. On top of it, banks pay interest on your deposits. So the common man doesn't mind keeping his money in the bank.

Whether we like it or not, a cashless world is already here. What they are doing is trying to enforce it more by bringing more people into the banking net and nothing more because even those of us already using banks and have some level of expertise in the use of technology would prefer cashless to anything even up to the point of the payment for coffee or burger and the same thing goes bitcoin as I have seen people having quite an amount of btc without physical coin and that is also cashless.