It appears our Australian community is rushing lemming (someone who unthinkingly joins a mass movement, especially a headlong rush to destruction) like to adopt a cashless society as more and more group thinkers expound on TV panel shows.
But let’s press the pause button for a moment to review the advantages for each of us holding hard cash.
- It is a guarantee of our individual (monetary) sovereignty – if you have it you can:
- Spend it however you wish;
- Save it in whatever manner you may choose;
- Give it to whomever, wherever and whenever you may choose;
- You can loan it discretely without anyone finding out
- You can even put it under your mattress.
What is the Definition of “Sovereignty”? It is ‘the authority of a state to govern itself’.
The alternative to cash, for us, is grim because we will have to use cards or a similar medium to buy what we are permitted to by the bank or institution that has issued us the card, at their discretion after we have given them all our personal details. Even then, that institution will have the right to block our use of our card at any time and for any reason THEY decide. The consequences of this to all of Australians are:
- We have lost the sole remaining vestige our independent sovereignty.
- We cannot spend the units of credit (no more money) however we wish.
- We can’t give it away to anyone we decide.
- We can’t loan it without anyone finding out.
- We don’t “own” digital (electronic) currency – the provider does.
The chief argument by the proponents of going cashless is it will stop the criminal black economy. That is like saying we should get rid of cars because of the number of deaths caused by traffic accidents.
This is actually not about the black economy, it’s all about control of you.