CASHLESS SOCIETY New World Order In Australia - Cash Is No Longer King

CASHLESS SOCIETY New World Order In Australia - Cash Is No Longer KingShow more

Sept. 6, 2023

THE CURRENCY WAR - FOLLOW THE MONEY

Lena Petrova, CPA - Finance, Economics & Tax

The world continues moving rapidly towards "cashless" societies, shunning physical currency in exchange for an electronic financial system that can literally be turned on and off by governments at will as a means of controlling their people.

When the U.S. and the world got off the gold standard in the early 1970s, the move towards fiat currency dramatically accelerated, as did the accumulation of national debt throughout the world.

By the 1990s, electronic currency in the form of debit cards started to become prevalent, and today they are simply pervasive, with a minority of citizens still using physical currency. In fact, the use of payment apps via smartphones has grown exponentially in just the last couple of years.

Now, Australia is moving rapidly towards the total elimination of all forms of physical currency to go completely cashless, according to a report this week, with plans to get there no later than 2031, though it's possible the country will become cashless by 2024, news .com .au reported.

Since 2019, various banks across the country have removed some 3,800 ATMs, or about one-third of all cash machines. The four top Australian banks, at the same time, have closed around 459 branches.

CBA, Australia’s largest bank, now has just 875 branches, compared with 1,200 before COVID-19 Plandemic. At the same time, the bank has cut ATMs by more than half, down to 2,000.

In New South Wales, over 200 suburbs have no way to obtain cash in their area, according to news .com .au, and 300 lack a bank store.

Digital transactions already predominate in Australia, where fewer than 25 percent of transactions involve physical money and 80 percent of residents prefer virtual banking.

Original: https://youtu.be/1Z5y6RUkNxw

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