Digital money tested in secret, according to Bloomberg
Big Brother’s control becomes much easier in a cashless society
NEW YORK CITY — Last month, more than 100 executives from some of the biggest financial institutions in the United States participated in a secret meeting, in which a company known as ‘Chain’ unveiled a technology that transforms U.S. dollars into a concept known as pure digital assets.
Reportedly, there were representatives from NASDAQ, Citigroup, Visa, Fidelity, Fiserv and Pfizer in the room, and they were told by this group about claims to be partnering with Capital One, State Street, and First Data. This “revolutionary” technology is intended to completely change the way we use money, and it would represent a major step toward a cashless society.
But if this new digital cash system is going to be so good for society, why was it unveiled during a secret meeting for Wall Street Bankers? Is there something more going on here than we are being told? None of us probably would have ever heard about this secret meeting if it were not for a report from Bloomberg.
The following comes from a Bloomberg article titled “Inside the Secret Meeting Where Wall Street Tested Digital Cash”:
On a recent Monday in April, more than 100 executives from some of the world’s largest financial institutions gathered for a private meeting at the Times Square office of NASDAQ Incorporated. They weren’t there just to talk about ‘blockchain,’ the new technology some predict will transform finance, but to build and experiment with the software.
By the end of the day, they had seen something revolutionary: U.S. dollars transformed into pure digital assets, able to be used to execute and settle a trade instantly. That’s the promise of a blockchain, where the cumbersome and error-prone system that takes days to move money across town or around the world is replaced with almost instant certainty.
So it is not just Michael Snyder from The Economic Collapse Blog that is referring to this gathering as a “secret meeting.” This is actually how it was described by Bloomberg. And I think that there is a very good reason why this meeting was held in secret, because many in the general public would definitely be alarmed by this giant step toward a cashless society. Here is more on this new system from Bloomberg…
While cash in a bank account moves electronically all the time today, there’s a distinction between that system and what it means to say money is digital. Electronic payments are really just messages that cash needs to move from one account to another, and this reconciliation is what adds time to the payments process. For customers, moving money between accounts can take days as banks wait for confirmations. Digital dollars, however, are pre-loaded into a system like a blockchain. From there, they can be swapped immediately for an asset.
“Instead of a record or message being moved, it’s the actual asset,” Ludwig said. “The payment and the settlement become the same thing.”
Why this is so alarming is because we are seeing other major moves toward a cashless system all over the world. In Sweden, 95 percent of all retail transactions are already cashless, and ATM machines are being removed by the hundreds. In Denmark, government officials actually have a stated goal of eradicating cash by the end of the year 2030. In Norway, the biggest bank in the country has publicly called for the complete elimination of all cash. Other nations in Europe have already banned cash transactions over a certain amount. Here are just a couple of examples…
Cash transactions of more than €2500 have already been banned in Spain, and France and Italy have both bannned all-cash transactions of more than €1000 euros.
Little by little, cash is being eradicated, and what we have seen so far is just the beginning. There are $417 billion cashless transactions that were conducted in 2014 and the final number for 2015 is projected to be much higher. The global push towards a cashless society is only going to intensify, because banks and governments both tend to really like the idea of such a system.
Banks really like the concept of a cashless society because it would force everyone to be their customers. There would be no more hiding cash in a mattress at home or trying to pay all of your bills with paper money. Under a cashless system, we would all be dependent on the banks, and they would make a lot more money whenever we swiped our cards or our ships were scanned.
Governments are seeing a lot of advantages in a cashless society as well. Their stated intentions are laudable. They tell us they would be able to crack down on drug dealers, tax evaders, terrorists and money launderers. However, the untold truth is that government would be able to watch, track, monitor and control virtually all of our financial transactions. Our lives would become open books to the government, and privacy concerns of our finances would be a thing of the past.
Beware: The potential for tyranny would be absolutely off the charts!
Just imagine a world where the government could serve as the gatekeeper for who is allowed to use the cashless system and who is not. They could require that we all submit to some sort of government-issued form of identification before being permitted to operate within the system, or it is even conceivable that a loyalty oath would be required. Of course if you did not submit to their demands, you could not buy, sell, open a bank account or get a job without access to the cashless system.
Hopefully people can understand where this is going. Paper money is a very important component of our freedom, and if it is taken away from us that will open the door for all sorts of abuse.
Even now, cash is slowly being criminalized in America. For example, if cash is needed to pay for a hotel room that is considered by federal authorities to be a suspicious activity that should be reported to the government. Of course it isn’t against the law to pay your hotel bill in cash just yet. But according to the government, it is the nature of a terrorist to pay cash – and such conduct needs to be watched closely.
There is no doubt whatsoever that a cashless society is not a case of if it happens, but rather when it happens. For years people have said that a cashless society will never occur as people will never accept it. This is fantasy delusion. People have long resisted paying their bills by direct debit and today major companies are forcing this method upon society at large. Many corporations charge extra to have paper accounts mailed to clients and seek to have people pay their bills online after they are delivered electronically.
A cashless society is a longing by large sections of our society. Governments of all persuasions want a cashless society to stop people of avoiding some payments and tax avoidance generally would be much easier to control without cash payments. Drug dealers and other criminals would be hindered considerably if cash were eliminated. These are the benefits that we are often told about. The reality is, of course, that all levels of society could be monitored and controlled much more effectively and economically with the elimination of cash.
A complete cashless society would see the prophecy in Revelation 16:13-18 fulfilled… And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And 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. Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is 600 threescore and six.
Several months ago, we wrote about the Tri-Lateral Commission whose stated aims in 1965 (when the group was formed) were that the world would be controlled by a One World Government and a One World Economy. Whether or not the subject of this article is connected to the attempts by the Global Banks to control your every personal and financial move is not clear. But there is an underlying cause and effect,which we have highlighted in this article.