May 15, 2023
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2
3 min read
We have heard people say; "I only use card now anyway. It's more convenient. I don't care because I have nothing to hide."
Electronic banking (online or with cards) is very different to going fully digital, especially if there is going to be no cash or other alternative available.
We haven't ever experienced digital currency yet.
So, what it mean to be completely cashless and what impact will this have on our lives moving forward. Let's take a closer look ...
Exactly what is Central Bank Digital Currency (CBDC)?
CBDCs are a dangerous China-style social credit system that undermines the very foundations of democracy. digital form of money issued and controlled totally by one central bank authority. By itself and on paper you might be fooled into thinking it's no big deal. But the bigger plan is to link it with digital ID, and this is where the biggest concern for humanity comes in.
Digital ID is a unique identifier code used to verify an individual's identity. Linked with our bank accounts it will mean no independence or a life outside of the metaverse, making us completely reliant on technology, scrutinised by globalists and a 'one world government' to control our every move.
PROS
+ More convenient, especially if ID chips are inserted inside your body.
+ Faster transactions
+ More secure - maybe?
CONS
- Security risks: There are concerns that the use of digital currency could increase the risk of cyber-attacks & other security breaches.
- Regulatory Uncertainty - currently unknown.
- Transactions could be tracked and monitored.
- Limits on where, how much & what you can spend your money on.
- Risk of system failure.
- With full control, banks will be able to charge what they like in fees.
- Any debts you have may be taken out of your account without your consent.
- Accounts can be paused or closed as a form of punishment. Eg: an online post the powers that be do not like.
- Expiry dates to use or lose your money.
- More rules & regulations to follow.
- Increased taxes.
A cashless society means much less choice & loss of freedom for the average person:
- No car boot or garage sales.
- No market stalls.
- No bonuses or tips for good service.
- No talented buskers trying to earn an extra buck so they can live.
- No cash donations to charities or the homeless.
- No two-up on ANZAC Day.
- No cash in envelopes or surprise gifts for birthdays.
- No teaching kids the value of earning a dollar.
- No piggy banks.
- No incentives.
- No pocket money or tooth fairy visits.
- No privacy or independence.
How do you feel about going fully digital now?
What can you do about it?
It's YOUR money and YOUR life. Basically it's up to you as an individual to do something about it! Express your concerns about the potential risks associated with digital currencies & ID, such as privacy and security issues, to whoever will listen and take them to the policy makers, government and other stakeholders. They didn't include 'we the people' in this decision that directly affects us by way of referendum, so we have a right to refute and refuse it. Additionally, we can stop doing any unnecessary business with them by taking out loans with non-bank lenders, support small businesses, organisations and initiatives that promote cash, financial inclusion and the development of non-digital payment solutions.
