Israel might become the first to eliminate cash

[Potemkin]

They want to eliminate cash from the economy. More control, more taxes, probably even wealth tax:
http://www.primevalues.org/market-watch/israel-first-cashless-country.htm

Although there's a lot of speculation about eliminating cash, I did hear about other nations limiting the use of cash: particularly in Europe. Including Eastern Europe. I don't know what Eastern Europeans want... weird, but it is becoming a trend.

Probably others will do the same and we won't be able to withdraw, nor keep anything under the mattress. They will be able to tax us like milking cattle!

Milk the people from their cash!

If the EU/US starts experimenting with such a thing, they might actually go through and then we can say goodbye to our cash savings.

If you can't hold your money in your hands, it's not yours! As we all know...

This is an ugly trend...

 

[pmbug]

Not sure how credible that blog is. They didn't provide any references to back up their claim.

None-the-less, it's a trend that's been happening for a while here in the USA. Banks and ATMs are increasingly lowering the amount of cash they will dispense at any one time. While FEMA encourages folks to have cash for emergency preparedness, the DHS puts out instructional videos to their agents that folks using cash are likely terrorists:



Full video here: www.youtube.com/watch?v=DNKRDP4UD1Y

 

[dontdeBasemebro]

I wonder how that would be recieved, given that, if memory my memory isn't lying, Israel had a currency revaluation in the not-so-ancient past.

With a purely digital economy it is way too easy to "turn in 10 old dollars for 1 new dollar". Then again, most people get paid in and store currency in digifiat anyways.

At least FDR had to physically raid the "safety" deposite boxes.

 

[Aubuy]

I wonder how that would be recieved, given that, if memory my memory isn't lying, Israel had a currency revaluation in the not-so-ancient past.

With a purely digital economy it is way too easy to "turn in 10 old dollars for 1 new dollar". Then again, most people get paid in and store currency in digifiat anyways.

At least FDR had to physically raid the "safety" deposite boxes.

I agree and worry. This ability to electronically control currency has never been possible like this before. It is one of the good news/bad news things about the internet. We are completely off the page in terms of historical experience. The NSA leaks were a tip of the potential electronic iceberg. All kinds of currency and other manipulations become possible if we are using plastic cards linked to the internet and our government. What amazing power that is.

 

[Potemkin]

Not sure how credible that blog is. They didn't provide any references to back up their claim.

None-the-less, it's a trend that's been happening for a while here in the USA. Banks and ATMs are increasingly lowering the amount of cash they will dispense at any one time. While FEMA encourages folks to have cash for emergency preparedness, the DHS puts out instructional videos to their agents that folks using cash are likely terrorists:

DHS: Using Cash Not Credit Cards Is Highly Suspicious & Weird - YouTube

Full video here: www.youtube.com/watch?v=DNKRDP4UD1Y

Take a better look, there is a reference link at the bottom, which is pointing to:
http://www.israelnationalnews.com/News/News.aspx/172028#.UluAstJkOSp

 

[ancona]

None of that will matter if all of the current chatter about Israel running a 'first strike' against Iran turn out to be true. If they do that, the Middle East will become a war zone from one side to the other. Israel may have a formidable military, but they do not have the resources to fight several nations at once, and that is precisely what will happen if they choose to go to war with Iran. the American People do NOT stand behind another Middle East war, especially one started without provocation.

If they want a cashless society, I say good luck with that, since folks will not give up their cash so easily.

 

[Potemkin]

I'm not so much interested in the political aspect of all this...

But rather in how this digital intangible currency thing could become a trend. If the IMF/World Bank/EU/USA/JAPAN/BRICS start doing something similar, the money will flow out of our hands. Intangible money is the worst thing I could imagine.

That's why I don't like bitchcoin either!

If it's not in your hands, it's not yours!