CNBC - 11 March 2016

 

Why would people be happy with a cashless society? As with many trends today, there are some good reasons. A cashless society makes drug trafficking more difficult, personal holdups less likely, ATM robberies eliminated, and prevents many from cheating on their income taxes and hurting the country. For many, it is just plain a convenient way to pay for things. Additionally, this makes international monetary transactions easier and less costly to the business world, resulting in lower prices for goods.

But we also see in this trend stage-setting for the Tribulation and the revitalized Roman Empire. A cashless society means all transactions are electronic and controllable by financial and government institutions. Recently, Senator Ron Paul warned; “The cashless society is the IRS’s dream: total knowledge of, and control over, the finances of every single American.” Achieving this control would enable the final Roman Empire and its Antichrist to see that “no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name” (Revelation 13:17).

You might ask, how can people be forced to a cashless society when the danger is so great. Like so many other government policies, people support programs that improve the economy and the money “in their wallet.” Global economists believe that the elimination of cash will be a stimulus to business.

They will do this by forcing people to spend or invest their savings instead of “hoarding” (the government’s term) for the future. Banks, too, are “hoarding” rather than lending to businesses. This cannot be allowed under the current economic slowdown.

The solution is to force spending. The ECB and other banks are now “offering” negative or “punishment” interest on savings account. Put simply, the saver pays the bank to keep his money. For example, if you put $1000 into your bank savings account for one year you would have $970 at the end of the year. Just today, ECB informed banks that borrow from them of an increase in the negative interest, -0.03% to -0.40%. For banks, it is to their gain to loan out the money.

The worse thing for people to do in today’s economist’s view besides putting their money in the bank is for them to put their money “under the mattress” at home. The only way for the government to prevent this “hoarding” is to go cashless.

I encountered this trend just recently. After our last conference, I had sold several books and was paid cash for them. I took the money to the bank and they informed me that I had to come in and show identification before they would “allow” me to deposit my cash into my own account. I have also learned that there are limits as to how much cash can be involved in a transaction. In France, cash transactions over 1000 are illegal.

As we see these stage-setting events, we must remember that true believers in the Lord Jesus Christ will be removed from this world at the catching up of the church (the Rapture) and will be with the Lord during the Tribulation. For we are “looking for that blessed hope, and the glorious appearing of the great God and our Savior Jesus Christ; Who gave himself for us, that he might redeem us from all iniquity and purify unto himself a peculiar people, zealous of good works” (Titus 2:13, 14).

Reference Articles:

Nick Giambruno. “The hidden agenda of Davos 2016 was eliminating cash.” The Crux – Stansbury Research retrieved from http://thecrux.com/revealed-the-hidden-agenda-of-davos-2016/ March 3, 2016.

J. Reeves. “A capitulation and a stunning revolt in the War on Cash’s “eastern front’” Palm Beach Daily March 10, 2016. Email March 10, 2016.

Who has not known the excitement of playing Monopoly, as your opponent throws the dice and you see that they are about to land on your property AND…with a hotel on it?

Sadly, the opponent counts out his bills to pay you the rent. Happily this is just a game and hopefully played just for fun and not ruthlessly. For those of you who enjoy it, your world is changing. Yes, Monopoly has gone cashless!

Remember those early days when as a child, you learned how to make change by playing Monopoly? No more...but this may not be so bad since the world also is going cashless and no one will need to know how to make change.

In January of this year, Deutsche Bank CEO John Cryan predicted that cash will not exist within 10 years; Norway’s biggest bank has called for the country to stop using cash; and Bloomberg’s editorial board published an article titled, “Bring on the Cashless Future.”

In February, Mario Draghi, head of the European Central Bank (ECB), similar to the US Federal Reserve, announced that the 500 (Euro) bill would be phased out of circulation. At the same time, many US economists are calling for the elimination of the $100 bill, as noted by a Washington Post article. If this were done, 78% of all US currency in circulation would be eliminated. In today’s Sweden, cash is involved in only 2% of all financial transactions. Don’t worry; homeless beggars in Sweden now take credit cards.

The trend is clear – a cashless society is coming and coming quickly.

“You just landed on Boardwalk and you owe me $2000!”