It’s somewhat remarkable that so many people refuse to grant the Bible any credence when it is observably the single greatest long-term predictive document ever known to Man:
A proposed new law in Denmark could be the first step towards an economic revolution that sees physical currencies and normal bank accounts abolished and gives governments futuristic new tools to fight the cycle of “boom and bust”.
The Danish proposal sounds innocuous enough on the surface – it would simply allow shops to refuse payments in cash and insist that customers use contactless debit cards or some other means of electronic payment.
Officially, the aim is to ease “administrative and financial burdens”, such as the cost of hiring a security service to send cash to the bank, and is part of a programme of reforms aimed at boosting growth – there is evidence that high cash usage in an economy acts as a drag.
But the move could be a key moment in the advent of “cashless societies”. And once all money exists only in bank accounts – monitored, or even directly controlled by the government – the authorities will be able to encourage us to spend more when the economy slows, or spend less when it is overheating.
The idea that “high cash usage” in an economy acts as a drag is absolutely and utterly absurd when examined from the perspective of several economic schools. Even the Keynesian school, which will be in favor of banning cash in favor of more easily manufactured nonexistent numbers, teaches that Savings = Investment. Is getting rid of savings, and therefore investment, really going to strengthen the economy?
What this is really designed to do is to address the problem seen in the chart from yesterday’s post that shows the massive decline in debt growth from 1985 to 2015. As the production of credit money declines with the inability of consumers and corporations to take on more debt, other less productive sources are being tapped to keep the government beast alive. Hence their pursuit of even the coins under granny’s couch.
The real nightmare isn’t the economic abomination of the authorities playing a disastrous push-pull with the entirety of the money supply, though, it is the establishment of the infrastructure for the long-predicted Mark of the Beast. And it would be very interesting to hear a disbeliever explain how such an unlikely creation could have been envisioned so clearly nearly two thousand years ago.