Digital World and a Cashless Society

I think we are heading towards a cashless society. This is harmful because 100% of digital money tied up with central banks allows the Central Banks and Central Planners to easily freeze accounts, seize assets & impose negative interest rates. This would be disastrous. Yet, I am fearful it is coming.

The moment you take cash out of the bank account there's little control. The Central Banks and Governments alike love control. This control is the very thing that makes a cashless society appealing. Digital money allows them to control everything. They will know everything about you and with a few clicks, you can be shut off. Does that sound crazy? I am sure it does, but it is very possible.

I’m not against digital money. It is actually very compelling in the digital age. The idea of digital money is compelling because it offers the idea that every single human on the planet has access to money, which is admirable and should be desirable. I really think there is a place for digital money. I like Bitcoin and what it has to offer. Why do I like Bitcoin? It is a decentralized digital currency and that is a phenomenal idea! The idea of a decentralized digital currency should be pursued. The problem is not digital money. The problem is central banks controlling digital money.

Central Banks and Governments alike are the problem because they are controlling the monetary system. A cash society is hard to control though, which is why it is appealing. Cash prevents imposing negative interest rates. Think about it if they did you and I would just withdraw the cash. The moment you take out cash they lose control.

Control is everything. The only way Central Banks and Governments can gain their full control is by imposing their form of digital money to control people. Are they there yet? No. I am thankful they are not there yet... but mark my words.... it is coming.