So We Will Have To Ask The Banks Permission To Make Any Purchase?

I was reading through the article below and I had an epiphany....

It seems to me that there is an agenda by the banks to remove cash from society altogether. Only electronic means of transactions will be allowed in the future. Now I got to thinking about this, and it led me to the conclusion that we are literally being cut out from making transactions. The transaction will be between the supplier and the bank only. This will undoubtedly lead to us having to ask permission from the bank to make any purchase, and will allow the banks to ''refuse'' any transaction they wish.

We will be entirely at the mercy of the banks. They would be able to say for example, you can only spend £50 this week on food. This gives them a massive amount of control over our lives, in fact, it will allow them to pretty much totally control our lives.

Spain Bans Cash: http://thedailybell.com/3814/Spain-Bans-Cash

Home Secretary Theresa May bans all cash transactions in metals trading: http://www.infowars.com/not-just-spain-cash-ban-spreads-around-the-world/

Reply 1

Mbob

12

Original post by el scampio

I was reading through the article below and I had an epiphany....

It seems to me that there is an agenda by the banks to remove cash from society altogether. Only electronic means of transactions will be allowed in the future. Now I got to thinking about this, and it led me to the conclusion that we are literally being cut out from making transactions. The transaction will be between the supplier and the bank only. This will undoubtedly lead to us having to ask permission from the bank to make any purchase, and will allow the banks to ''refuse'' any transaction they wish.

We will be entirely at the mercy of the banks. They would be able to say for example, you can only spend £50 this week on food. This gives them a massive amount of control over our lives, in fact, it will allow them to pretty much totally control our lives.

Spain Bans Cash: http://thedailybell.com/3814/Spain-Bans-Cash

Home Secretary Theresa May bans all cash transactions in metals trading: http://www.infowars.com/not-just-spain-cash-ban-spreads-around-the-world/

What has led you to the conclusion that there is a conspiracy by the banks, when both of those actions were taken by elected governments for the purposes of combating tax evasion or theft?

And why would a bank try to control our spending, they have no legal authority to stop us accessing their money, and they would lose all their customers pretty quickly if they started randomly refusing transactions.

And in terms of our transactions being controlled, since cash has no real value other than that bestowed on it by the central bank, backed up with the authority of the government, arguably there is no real change. You can always barter.

In any case, I'd be very surprised if cash stops being used within the next few decades, it's very convenient for small transactions.

Reply 2

Drunk Punx

19

You couldn't stop the use of cash, it would be a very redundant practice and quite harmful to the economy (for example, it's easier to carry cash when having a night out on the piss as opposed to using your card every time you want to buy a drink, especially as a fair few pubs don't actually have a card machine).

Reply 3

Electronica

14

This has already happened. The cash in your wallet is only a promise of reimbursement to the value of say £10, which is printed by the bank, and given to the supplier by you. At no point whatsoever do you own any money at all, or the bank, or the supplier for that matter. It's called fractional reserve banking, and it is a network of promises that connects people accross the world. Only problem is it's unstable since everything is connected, and that's why we are in an economic crisis.

Just because only electronic spending is allowed though doesn't mean banks will start refusing your own cash. You spending money ultimately benefits banks in every possible way. Plus, it would lead to financial collapse.

(edited 12 years ago)

Reply 4

Rakas21

21

Personally i am all for the liberty of being able to choose whether to pay by cash or card however cash should always remain an option.

My biggest fear were there to be a complete ban on cash other than the bank failing would be that we would inevitably get a government spouting socialism at some point who would nationalise said bank and therefore be able to give equal distribution of wealth, thus dragging everybody down to the same poor level.

Reply 5

Mbob

12

Original post by Rakas21

Personally i am all for the liberty of being able to choose whether to pay by cash or card however cash should always remain an option.

My biggest fear were there to be a complete ban on cash other than the bank failing would be that we would inevitably get a government spouting socialism at some point who would nationalise said bank and therefore be able to give equal distribution of wealth, thus dragging everybody down to the same poor level.

That only make sense if you currently keep your savings in cash under your mattress. Otherwise you would be just as reliant on the The People's Bank to get access to your cash.

Reply 6

CurlyBen

19

I don't see that this has anything to do with the banks - in both cases these measures have been put in place to make life harder for criminals. In Spain it's to prevent tax avoidance, here it's to ensure that you can't turn up at an unscrupulous scrappie with a truck load of stolen metal and disappear again.

Reply 7

Martyn*

13

This is mentioned in the computer game Deus-Ex, where in the future paper money (and coinage) is abolished in favour or 'credits', which when you do any work or buy anything, the credit is automatically accredited to your account. Of course, you can also obtain physical 'credit'.

Reply 8

ddrrzzeerr

17

Why would banks want to control your spending? Why would they care how much you spend on food?

Reply 9

Martyn*

13

[QUOTE=Sternumator;3728

3982]Why would banks want to control your spending? Why would they care how much you spend on food?

By controlling the flow of money - and that includes how you spend - you control the nation. It's the third law of private banking.

Reply 10

ForKicks

12

The banks would not control the amount of money you spend, it is just that having it electronic instead of cash for large transactions makes it easier in terms of crime prevention and detection. It's not like everyone exercises the liberty to walk around with £2k in cash anyway.

So We Will Have To Ask The Banks Permission To Make Any Purchase?

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