I say that because convenience in America is no less addictive and potentially no less deadly than heroine. Once exposed to convenience, Americans can’t do without it and will “chase the dragon” forever to keep it. My purpose in writing this article is to draw attention to the dangerous propaganda currently and effectively being promoted by governments all over the world, not the least of which is our own. Specifically, I’m talking about the sugar-coated convenience of swiping a credit/debit card and other forms of digital payments. I myself appreciate many such conveniences. However, my concern and outright rage focuses on the unforeseen manipulation, yet undeniable path that it has set us on – a cashless society.
It’s not difficult to see some immediate benefits of a cashless society. Money laundering, for example, would instantly become a problem exclusive to the past, but at what cost? The Fourth Amendment would be the first casualty of the shift. The government’s ability to seize or freeze the wealth of any citizen would become immediate. Personal information, financial tendencies and decisions would become an open book to the government. American citizens could become subject to constant surveillance, taxation and other forms of digital confiscation. It represents the first intentional and determined steps toward a truly Orwellian state.
A larger than expected swath of American citizens claim to have no heartburn with giving up certain freedoms for convenience. A recent study showed that 38% of Americans polled would prefer going cashless. Europeans polled indicated a 34% approval. But people living in countries that have had first-hand experience with currency devaluation and hyper-inflation indicated much lower approval levels. Almost 80% of transactions in Germany are done in cash and many Germans claim they never have or will use credit cards. Citizens of Cyprus, Greece and Bulgaria that have experienced panics and bank runs, also tend to use cash extensively. Very few Indian citizens are willing to go on record saying they are happy with their government’s rapid and aggressive efforts to move toward a cashless society.
Without cash in hand, people would truly be at the mercy of a digital world. If your banks server went down, you’d have no access to money. A major and prolonged power outage could relegate you to the Stone Age. I could innumerate a million reasons a cashless society is a bad idea, but even more reasons why protecting your assets with physical gold and silver is a better idea now than ever before. The best protection at this point is a diversified collection of gold and silver. Gold is the perfect vehicle to store wealth and silver is the perfect vehicle to spend wealth, just like it’s been for thousands of years. With the stock market peaking and metals well below their highs, there couldn’t be a better time to capture market profits and protect your assets from potentially cataclysmic economic events.
Although the information in this commentary has been obtained from sources believed to be reliable, American Bullion does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. American Bullion will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.