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.
Topic: Nowhere to Hide: IMF Advocates a Cashless World - page 4. (Read 2953 times)
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.
Quote
“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. 
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?
Quote
“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.
Quote
“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.
Quote
“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.
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.
Quote
“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.
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.
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.
Quote
“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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