by Kerry Lutz
Technology is a wonderful thing. It has made all of our lives easier and allows society to function at a level of efficiency that could only have been dreamed of several decades ago. However, it also makes the nefarious plans of The Powers That Be, more feasible and easier to implement. For many months you’ve been hearing all about the aptly named War on Cash. We were among the first to write about it over a year ago.
The War on Cash is just another scheme to take away your freedom, allowing government to track every transaction you engage in. By eliminating currency, people like Larry Summers believe that it will cut the costs of producing and handling cash, reduce criminal activities, hinder money laundering/terrorism and increase the government’s tax take. It will also allow the central planners to more effectively control the economy and turn their wills into economic results. Banks will be able to drastically expand the money supply and the amount of their loans thanks to fractional reserve banking. You will be grateful because of the convenience and safety of being cashless. Freedom be damned.
Recently, another piece of the puzzle was revealed, The Bank Branch of the Future. Wells Fargo has been working on this major advance in societal control since 2013, when it opened its first prototype branch in the Washington, DC area. While seemingly quite benign and mostly ignored at the time, it fits in perfectly with the goal of currency erradication. This bank is tellerless! No more of those pesky bank tellers we’ve been dealing with our entire lives. Their purpose being to take deposits, cash checks and disburse currency and other sundry services.
Banking keeps evolving from its humble origins. At one time they issued their own notes that were negotiable and could be used as legal tender for all types and manner of debts. These notes were secured by gold in the bank’s vaults, which was constantly at risk of theft.
With the advent of the Federal Reserve, all of this changed. Within certain guidelines, banks could create money, the Fed would always be there as the lender of last resort, except when it was most needed during the Great Depression, when thousands of banks across the nation closed their doors. Or perhaps the true plan was to limit competition to the majors. By the end of the Depression, gold was no longer the cornerstone of the financial system.
Commercial banking was always a boring but core function. Friday was the busiest day of the week, with people lining up around the block, to cash/deposit their paychecks. To reduce employee time spent on banking needs, some businesses started doing payroll on Thursdays. Then came the miracle of direct deposit, which allowed employers to put wages directly into employee bank accounts, greatly reducing or even eliminating time expended for banking purposes. (Employee breaks for banking is mandated by Federal Law)
ATM’s started to proliferate, which at first were limited to taking deposits and disbursing cash. Then these machines became banking centers, where a multitude of transactions could be accomplished.
When banks no longer have cash, the market for tellers disappears. The bank teller will soon become an endangered species. Checks are scanned on smart phones and digitally deposited. Bills are paid by electronic funds transfer. The one thing that could never be eliminated was the need to go to a bank or ATM to get cash. But the people have themselves solved this problem. Demand for cash is plunging. Less than 7 percent of all transactions are settled in cash. The number of people carrying cash has also plummeted. 8 of 10 Americans carry less than $50 and 4 out of 10 carry less than $20.
The plan is coming to fruition, kiss your greenbacks goodbye!