by Silkie Carlo
As the country celebrates tradition and prepares for change, one major shift is closer than ever – our move towards becoming a cashless society. It is hard to imagine money without the Queen’s profile proudly embossed, defining our Elizabethan generation in a centuries-old British tradition, but the monarch’s face is fast disappearing from our pockets.
Many of us rarely use cash now at all and increasingly, shops, cafes and transport providers refuse to accept it. Card and contactless payments already outweigh cash payments in the UK. Our shift towards digital payments was further catalysed by Covid – even PIN-pads were deemed risky and life became, in all senses, contactless. But this also signalled an opportunity for the tech industry. Now, Mastercard is urging people to link their bank accounts to their facial biometrics in order to “smile to pay”.
Creepy? Yes, but it all seems so convenient. Card companies give promises of “frictionless” transactions and “speeding” through checkouts. You don’t need to carry cash or worry about theft – and increasingly, you don’t need to carry a card or even remember a PIN. Digital banking apps also allow you to monitor every penny you spend. But is it only monitoring what you spend?
The move towards a cashless society creates the inevitability of more
granular surveillance than ever before. When everywhere you travel,
everywhere you eat, everything you buy and every service you pay for is digitally recorded,
your behaviour can be more easily scrutinised whether by your bank,
your spouse or the state. Every penny of irregular income, whether a few
quid from eBay or a family loan, will leave a digital trace. ... Continue reading >>>
In a system of total financial surveillance, fraud, financial crime, black markets and tax evasion could theoretically be eliminated. As such, HMRC has already drastically ramped up its digital surveillance operation. HMRC’s big data “Connect” system collects over a billion items of data from 30 sources – including tax returns, interest on bank accounts, online marketplaces and social media – to conduct a matching analysis of 800 million monthly credit and debit card payments. Yet as part of this, HMRC unlawfully collected over 5 million biometric voiceprints via its helpline – it was only after Big Brother Watch raised a complaint with the data watchdog that the Department was ordered to delete them.
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Negative Interest Rates & The War On Cash, Part 3: "Beware The Promoters"
Bitcoin and other electronic platforms have paved the way psychologically for a shift away from cash, although they have done so by emphasising decentralisation and anonymity rather than the much greater central control which would be inherent in a mainstream electronic currency. Despite the loss of privacy, electronic currency is much favoured by techno-optimists, but not so much by those concerned about the risks of absolute structural dependency on technological complexity.
War On Cash Gathers Momentum - Germany Unveils Cash Controls
On Monday (1 February, 2016) just two days ago, Bloomberg called on the central banks of the world to “bring on a cashless future” in an Op-Ed that calls notes and coins "dirty, dangerous, unwieldy, and expensive."
We can imagine it would be quite easy to harm someone by firing large coins at them from a gun and terrorists could probably stuff an improvised explosive device with small coins rather than nails or nuts and bolts. And if ...
The move by governments to eliminate cash as a means of trading goods and services is moving faster than we imagined. With another global financial crisis looming according to financial journalists and investment experts this is as understandable as it is undesirable for us ordinary punters.
The Financial Times Calls for Ending Cash, Calls it a “Barbarous Relic”
Earlier this week, as the financial world was in turmoil following a rapid crash and recovery in financial markets. While we the punters shook our heads and wondered how the banksters get away with this kind of shit, The Financial Times published a dastardly little piece of fascist New World Order propaganda.
New Global Crisis Imminent, New Geneva Report Warns
The Geneva Report refers to a “poisonous combination of high and rising global debt and slowing nominal GDP [gross domestic product], driven by both slowing real growth and falling inflation”. The total burden of world debt, private and public, has risen from 160 per cent of national income in 2001 to almost 200 per cent after the crisis struck in 2009 and 215 per cent in 2013. “Contrary to widely held beliefs, the world has not yet begun to delever and the global debt to GDP ratio is still growing, breaking new highs,” the report said.Cashless Society - The Resistance Begins Here
A seaside market town in Norfolk may be less than 100 miles from the world's financial capital, London, , it may be the commercial centre of West Norfolk’ as the town website boasts, it may be home to 45,000 people — but there, unlike in London, cash is king.
Establishment Pushing ‘Cashless Society’ to Control Humanity
The global establishment is increasingly pushing the notion of what it calls a “cashless society” — a world in which all payments and transactions would be conducted electronically, creating a permanent record for governments to inspect and track at will.Multiple governments from Africa and Asia to Europe and ...
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