by Taki Tsaklanos
Market Oracle
Taki Tsaklanos submits: If you are used to making visits to your bank to make your credit card payments, you may find this no longer an option in the future. Some banks are no longer accepting (or limiting their acceptance) of cash deposits. The war on cash forges on. Paper money, that is indeed more or less worthless, is slowly being taken out of circulation and being replaced by digital currency forms. This shift presents of course the same fundamental problem as paper money itself: “digital money” is also not backed by gold or other precious metals or any asset representing real value. The whole concept of digitizing our transactions is being marketed as a convenience, a hassle-free payment method and a transparent, easy new way to smoothly run our lives and businesses, without the burden of carrying cash around. However, the realistic flip side of this joyful argument is more ominous than we might at first realize: