Cape Town Bitcoin

Beware of a “cashless society”

Negative interest rates. Suppose you’re saving for a car, a home, a college education, or just a nice, long vacation trip. You put your money in the bank.

In the old days, the bank paid you interest to entice you to leave your money with them. They would loan it out and make a profit. Nowadays, you get zero interest (or nearly zero).

Suppose the bank charged you money to park your cash there. You might keep adding to your savings, but your balance stays flat, or goes down. Today, if they did that, you could just hide your cash at home and choose to not pay the bank this “negative interest” (they’ll call it ‘fees’ or some euphemism).

Suppose there’s no more cash. You can’t take cash out of the bank. You can’t stop them from just taking it from you. You can’t earn money without them knowing about every cent and from whom you got it. You can’t spend a cent without them knowing who you gave it to and (most likely) what you got in return.

Suppose you donated money to a political cause. The people in power might label that group, conveniently, as a “terrorist organization,” after the fact. They’d check their computers and see that you gave money to “terrorists.” Now you’re on the “terrorist” list and with the click of a mouse they can block you from being able to receive or to spend any money whatsoever.

This is why it’s important to be in control of your OWN money! Be your own bank, be in control of YOUR money.