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We need to increase our use of cash! The history of money shows that what money we use can make the difference between being independent or being bound. Cash means financial sovereignty and privacy.
Eliminating cash is attractive to Industry 4.0 ideologues like the World Economic Forum (WEF), governments and banks for several reasons. To Industry 4.0 ideologues getting rid of cash is a milestone towards making the so-called surveillance economy (or surveillance capitalism) more pervasive and creating digital mass control systems like China’s Social Credit System. Governments, meanwhile, could significantly increase their surveillance, blackmailing and suppression capabilities. (Remember when the US government cut off funds to Wikileaks for exposing its war crimes or when the Canadian government ordered bank accounts of people to be frozen that supported peaceful protests against its public policy?) Banks could impose more hassles on their customers and speculate much more freely than before. Customers and their money would be locked-in pawns in their game. Central banks could easily enforce negative interest rates.
With plans being drafted for a cashless society, using cash becomes more than a personal preference. It turns into a political act and statement with very tangible consequences. Just by using cash, we can make a real political difference that becomes more powerful the more we increase our proportional use of cash. As long as the majority of the population insists on the availability and use of cash, it will be very difficult to implement a completely cashless society.
By using cash we further keep real value in the hands of the people as opposed to donating it to the banking system or similar providers. A 50 dollar note will always remain a 50 dollar note in the hands of the bearer, even if it passes hands 30 times. Meanwhile, most of 50 dollars paid digitally via credit card or a similar service, after 30 transactions, will have become the property of banks or other digital payment providers due to the transaction fees.
You can learn more about this issue and other important topics related to the digital transformation in a brand-new document. The World Council for Health has issued an in-depth policy brief on the effects of unregulated digitalisation on health and democracy.
The Fourth Industrial Revolution and the digital transformation include a number of beneficial and harmful innovations, the latter presenting a severe threat to health, essential human rights and democracy. The document contains policy recommendations to effectively address central issues and avert harm. Further, the document is meant to empower the reader to make informed decisions in their own everyday life when interacting with specific technologies and the effects of the Fourth Industrial Revolution.
The public and decision-makers need to differentiate and be careful what they welcome in the name of digitalisation. A cashless society, just like Digital ID or a Central Bank Digital Currency (CBDC), are among the things that need to be rejected.
You can access the full document under the following link: https://t.co/w7EjBt04BS
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