Global Research, December 15, 2016
The Anti-Media 8 December 2016
As physical currency around the world is increasingly phased out,
the era where “cash is king” seems to be coming to an end. Countries
like India and South Korea have chosen to limit access to physical money by law, and others are beginning to test digital blockchains for their central banks.
The war on cash isn’t going to be waged overnight, and showdowns will continue in any country where citizens turn to alternatives like precious metals or decentralized cryptocurrencies. Although this transition may feel like a natural progression into the digital age, the real motivation to go cashless is downright sinister.
The unprecedented collusion between governments and central banks that occurred in 2008 led to bailouts, zero percent interest rates and quantitative easing on a scale never before seen in history. Those decisions, which were made under duress and in closed-door meetings, set the stage for this inevitable demise of paper money.
Continue Reading at ..... http://www.globalresearch.ca/cash-is-no-longer-king-currency-wars-the-phasing-out-of-physical-money-has-begun/5562582
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Australia looks set to follow in the footsteps of Venezuela and India
by abolishing the country’s highest-denomination banknote in a bid to
crack down on the “black economy”.
Speaking to ABC radio on Wednesday, Revenue and Financial Services Minister Kelly O’Dwyer flagged a review of the $100 note and cash payments over certain limits as the government looks to recoup billions in unpaid tax.
Continue Reading at .... http://www.theeventchronicle.com/finanace/war-cash-continues-australia-seeks-remove-100-note-circulation/#
The war on cash isn’t going to be waged overnight, and showdowns will continue in any country where citizens turn to alternatives like precious metals or decentralized cryptocurrencies. Although this transition may feel like a natural progression into the digital age, the real motivation to go cashless is downright sinister.
The unprecedented collusion between governments and central banks that occurred in 2008 led to bailouts, zero percent interest rates and quantitative easing on a scale never before seen in history. Those decisions, which were made under duress and in closed-door meetings, set the stage for this inevitable demise of paper money.
Continue Reading at ..... http://www.globalresearch.ca/cash-is-no-longer-king-currency-wars-the-phasing-out-of-physical-money-has-begun/5562582
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War on cash continues: Australia seeks to remove $100 note from circulation
Speaking to ABC radio on Wednesday, Revenue and Financial Services Minister Kelly O’Dwyer flagged a review of the $100 note and cash payments over certain limits as the government looks to recoup billions in unpaid tax.
Continue Reading at .... http://www.theeventchronicle.com/finanace/war-cash-continues-australia-seeks-remove-100-note-circulation/#
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Venezuela Eliminates Half Its Paper Money After Pulling Largest Bill From Circulation
By Zero Hedge
Having observed the economic chaos to emerge as a result of India’s shocking Nov. 8 demonetization announcement, and perhaps confident it can do better, today president Nicolas Maduro of Venezuela, Latin America’s most distressed economy, mired in an economic crisis and facing hyperinflation, likewise shocked the nation when he announced on state TV that just like India, Venezuela would pull its highest denominated, 100-bolivar bill (which is worth about two U.S. cents on the black market), from circulation over the next 72 hours, ahead of the introduction of new, higher-value notes, as large as 20,000.
“I have decided to take out of circulation bills of 100 bolivars in the next 72 hours,” Maduro said. “We must keep beating the mafias.”
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India's currency recall: Concerns mount as cash shortage continues
On November 8 2016, the now President-elect of the USA and the Prime Minister of India each created history.On the same day Donald Trump defied the pundits to win office, Narendra Modi announced he would withdraw most of the currency from his country's economy the next day, in a bid to fight tax evasion and corruption.
Continue Reading at .... http://www.abc.net.au/news/2016-12-12/india's-currency-recall:-is-it-working-who-is-responsible/8111072
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Norway, Sweden and Denmark Say “No” To Cash
Norway’s largest bank DNB proposes to stop using cash as a means of payment in the country. According to the DNB bank’s executive Trond Bentestuen,
more that half of all cash transfers in the country are made without the
banks’ control, and so could be used for illegal purposes. He commented
to local news media outlet VG.no:Sweden and Denmark to become cashless“Today, there is approximately 50 billion kroner in circulation and [the country’s central bank] Norges Bank can only account for 40 percent of its use. That means that 60 percent of money usage is outside of any control. We believe that is due to under-the-table money and laundering.”
The widespread adoption of mobile payment solutions and
bankcards turned out to be more popular among Swedes than old-fashioned
cash payments. A study by the KTH Royal Institute of Technology in Stockholm has shown that Sweden may become the world’s first cashless country.
Niklas Arvidsson, an industrial technology and management researcher at KTH, commented that now of all Swedish crowns in circulation, “only somewhere between 40 and 60 percent is actually in regular circulation”.
Continue Reading at .... https://cointelegraph.com/news/cash-electronic-money-scandinavia
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A plan to cut cash out of shopping could see Denmark become the first country to ditch notes and coins altogether.
Continue Reading at .... https://cointelegraph.com/news/cash-electronic-money-scandinavia
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This could be the first country to go cashless (DENMARK)
A plan to cut cash out of shopping could see Denmark become the first country to ditch notes and coins altogether.
The Danish government has proposed that most stores could dump their cash registers from January 2016.
Essential services, such as hospitals, pharmacies and post offices, would still have to accept cash under the plan, which is some way from becoming law.
Denmark, with its Scandinavian neighbors Norway and Sweden, is leading the global trend towards electronic money.
Business groups point to benefits such as reduced handling and transport costs, increased security and a drop in attempts to steal cash.
Continue Reading at .... http://money.cnn.com/2015/06/02/technology/cashless-society-denmark/
Essential services, such as hospitals, pharmacies and post offices, would still have to accept cash under the plan, which is some way from becoming law.
Denmark, with its Scandinavian neighbors Norway and Sweden, is leading the global trend towards electronic money.
Business groups point to benefits such as reduced handling and transport costs, increased security and a drop in attempts to steal cash.
Continue Reading at .... http://money.cnn.com/2015/06/02/technology/cashless-society-denmark/
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Zimbabwe is running out of money -- can a cashless society save it?
Since the hyperinflation of 2009, Zimbabwe has depended largely on the U.S. dollar. But given the country's political and economic troubles and the introduction of "bond" notes, many have begun hoarding cash.
The cash liquidity crunch is extreme. Locals are forced to queue for hours outside banks for the chance to withdraw a maximum of $50 from their account each day -- and some are even being turned away simply because the banks don't have enough cash in their vaults.
This country has nine currencies -- and formerly had a 100 trillion dollar bank note
This country has nine currencies -- and formerly had a 100 trillion dollar bank note