By Thongden_studio @Adobe Stock
Madge Waggy of LewRockwell.com tells her readers that in a cashless society, theft will occur online and in far larger amounts than cash heists!
Is cashless society in World a bad step?
Cashless Means Automatic
If money is easy to spend, it is also easy to take. Convenience can easily become tyranny. Automatic payments that come directly from your bank account illustrate the point.
Below Is First 9 Major Risks of a Cashless Society:
- Risk of Confiscation
- Risk of Theft
- Crime is Easier
- Risk of System Failure
- Risk of Being Exiled From the System
- Results in a Loss of Freedom
- Loss of property rights
- Loss of Privacy
- Loss of Understanding Value & Responsiblity
In a society that uses cash, acts like making change and giving tips provide market participants with a tangible sense of economic value. Children that grow up saving money in piggy banks and counting their pennies, nickels and dimes learn the value of money through the tactil experience of handling money.
A cashless society turns money and value into digital abstractions as defined and controlled by the banks and central planners.
Read more here.
