Commentary By: Gordon King
What is it that causes people to embrace something that they previously would never even come close to accepting? Fear! Fear causes people to follow along with plans which will take away their freedoms, plans which will impose surveillance upon themselves, plans which are sinister in the making, plans which will eventually lead to the rule of the Antichrist!
Governments response to the coronavirus pandemic has caused people to fear, fear the unknown, fear what they are being told whether or not it is the truth. And now people are being told that the handling of cash could possibly spread the coronavirus, even though there is no evidence of that happening.
The following is an article which was posted today by the AP News.
BEIRUT (AP) — In troubled times, people have been known to hoard currency at home — a financial security blanket against deep uncertainty. But in this crisis, things are different. This time cash itself, passed from hand to hand across neighborhoods, cities and societies just like the coronavirus, is a source of suspicion rather than reassurance.
No longer a thing to be shoved mindlessly into a pocket, tucked into a worn wallet or thrown casually on a kitchen counter, money’s status has changed during the virus era — perhaps irrevocably. The pandemic has also reawakened debate about the continued viability of what has been the physical lifeblood of global economies: paper money and coins.From the supermarkets of the United States and Japan to the shantytowns of Africa to the gas stations of Tehran, a growing number of businesses and individuals worldwide have stopped using banknotes in fear that physical currency, handled by tens of thousands of people over their useful life, could be a vector for the spreading coronavirus.
Public officials and health experts have said that the risk of transferring the virus from person to person through the use of money is minimal. That hasn’t stopped businesses from refusing to accept currency, and some countries from urging citizens to stop using banknotes altogether.
In the midst of the coronavirus era, a thousand calculations are made before cash is handled — mostly with gloved hands. Some leave the money laid out on surfaces for days, for the virus to die. Others disinfect banknotes with spray. Some even microwave them in the belief it kills the virus. In China, banks are now required to sterilize cash with ultraviolet light or heat, then store notes for at least a week before they are given to customers.
“In many areas, cash was already beginning to disappear due the increased risk of robbery, the ease of internet ordering, and the ubiquity of cell phones,” says Zachary Cohle, an assistant professor at the department of economics at Quinnipiac University in Connecticut.
“Cash,” Cohle says, “now carries an extra stigma.”
But is ditching cash altogether even feasible?
Sweden, Finland, Norway, Canada and others have slowly phased out cash to the point where using it in large amounts seems suspicious. The United Kingdom and Australia are among countries expected to become cashless societies. And in China, use of cash by consumers has plunged as smartphone-based payment services rose in popularity over the past decade.
`CASH IST FESCH!′
Humans have a centuries-old emotional relationship with physical money that is difficult to erase.
“Currency represents value that we can hold in our hands. Cash provides a way for us to translate a day’s work into something tangible and easily traded,” Cohle says. “We may not know what goods we will need in the future. However, holding money allows for us to feel as though we can buy whatever goods we will need.”
“Cash ist Fesch” is a common saying in Austria and southern Germany. The phrase, which literally means cash is beautiful, reflects both countries’ attachment to cash — and not just among the older generation or those who worry about the loss of privacy that comes with cashless payments, but also among some younger people who see it as a status symbol.
“I always pay with cash — as a matter of principle!” Ingel Strobl, a 76-year-old pensioner, says while shopping at a bakery in central Vienna. “I know they want to abolish cash. But I don’t want that we lose our right to our own money. You know what I mean anyway! I stick to cash — corona or not.”’
Since the virus outbreak, however, shops that have remained open, like grocery stores, have posted signs encouraging people to pay with cards. Many are: According to Germany’s central bank, the Bundesbank, 43% of people have changed their payment behavior in the past few weeks; now, a large percentage are likely to make contactless payments with a card.
Japan, for its sophisticated reputation, is also a solid believer in cash, which makes up for 53% of a household’s assets, according to the Bank of Japan. The belief in “cash is king” reigns, though the country has had zero interest rates for two decades, far longer than the rest of the developed world.
But the threat of the coronavirus could be the impetus the nation needed to move toward going cashless, said Hiroki Maruyama, who heads the Fintech Association of Japan, a nonprofit that supports innovation in financial services.
“The culture,” he says, “is slowly changing.”
CASH IN A CRISIS
“Cash combined with courage in a crisis is priceless,” billionaire investor Warren Buffett says.
In crisis-hit countries and parts of the world gripped by conflict or inflation, cash is still carried in thick wads for simple shopping expeditions.
In Lebanon, as the economic situation deteriorated late last year and the fear of banks collapsing mounted, many people began saving cash in their homes. The sale of home safes surged. An estimated $3 billion was withdrawn and stashed at home, according to the governor of the country’s Central Bank.
As banks imposed capital controls, trips to the bank to withdraw foreign currency — followed by a trip to one of the ubiquitous exchange shops to change money on the black market — became the norm for many Lebanese.
“All I do is handle cash all day,” said one money changer in Beirut, who insisted on being identified by his first name, Ihsan. He said he feared unwanted attention from authorities.
“I wear gloves. But honestly? Corona is the last thing on people’s minds right now,” Ihsan said. “All they’re thinking about is how to handle this crisis and get money to live.”
In Iran, one of the world’s worst coronavirus hotspots, there are no international bank cards, like Visa or Mastercard, because of U.S. sanctions. Many were surprised at the new banners that appeared at some gas stations in Tehran: “Service is only for those who will pay by debit cards.”
In Venezuela, it is common to see bolivars littering the streets because the local currency has lost its value.
“The truth is that I haven’t had any bolivars in my wallet for a long time,” said Fátima Figueras, a 32-year-old office worker, waiting in line to enter a Caracas pharmacy. “What worries me most is having to hand my debit card to a cashier who touches it,” said Figueras, wearing a facemask against the coronavirus.
Cash still rules in West and Central Africa even with the growth in regional banking options and mobile money service providers. Monthly banking account fees are prohibitive for many, and the self-employed often keep their savings at home in hard currency. ATM machines often don’t work.
Dorothy Harpool, director of student and community initiatives and lecturer at Wichita State University’s W. Frank Barton School of Business, predicted the pandemic would lead some consumers to rethink their use of cash. But going completely cashless, she says, is a long way off.
“Until everyone and every country has reliable access to the internet, I do not believe the pandemic will singularly change past practices,” Harpool said. In particular, cash transactions are also likely to remain for businesses operating under the radar of government and other regulatory bodies.
Ihsan, the Beirut money changer, said there are certain things you just can’t do without cash — particularly in a dysfunctional and developing nation.
“Like how else can you bribe a government employee to get your business done? With a credit card?”
Associated Press journalists David Rising in Berlin, Philipp Jenne in Vienna, Yuri Kageyama in Tokyo, Jorge Rueda and Scott Smith in Caracas, Krista Larson in Dakar, Senegal and Amir Vahdat in Tehran contributed reporting.
The following is an excerpt from the above article which was posted today by AP news.
From the supermarkets of the United States and Japan to the shantytowns of Africa to the gas stations of Tehran, a growing number of businesses and individuals worldwide have stopped using banknotes in “FEAR” that physical currency, handled by tens of thousands of people over their useful life, could be a vector for the spreading coronavirus.
It’s fear, the fear that handling physical money could a vehicle for spreading the coronavirus. So what is the overwhelming response? Eliminate cash altogether! Instead of cash many people (globalists) are calling for the use of electronic funds transfer in place of cash. We already see it happening in some countries and the world is being setup for just that very thing.
What is it in the last half of the Tribulation period that will mark the acceptance of the Antichrist? The Mark of the Beast! And just what can you do if you have that Mark? Buy, sell, and trade! It’s a cashless system, a system of electronic funds transfer using the mark.
I believe that the world is being setup for the acceptance of it and the conditioning of people to not only accept it but be used to it! This is where we are today my friends, the coronavirus pandemic being used as a tool to usher in the plans of the Globalists, the Elite, those pushing for a One World Government, those under the control of Satan, this is just one more stepping stone in their plan of attack!
The WEC (World Economic Forum) has a very interesting article posted on their website explaining the benefits of a cashless society. For those of you who don’t know just who the WEC actually is, it is a group which is part of the push for a One World Government, it is ran by and for the Elite, the Globalists!
The following is an article from their website:
The benefits of a cashless society
The first recognizable coins were produced in China more than 3,000 years ago.
If you visit China today, however, there’s a strong chance you’ll see people paying for things using facial recognition on their phones.
This is a radical shift, but it’s just the beginning of the cash revolution.
The new global payments ecosystem, including both physical cash as well as mobile wallets, is the result of the convergence of three large and powerful industries: telecommunications, banking and retail.
And if the private and public sector can work together to harness the latest technology and realise the full potential of a cashless society, there will be enormous benefits.
Eliminate the middleman, close the financial inclusion gap
It’s important to first reflect upon where we are on the journey toward a cashless society.
Thus far, the shift is basically a move from physical cash to cash-replacements. With private companies involved in processing those transactions, there is inevitably a cost. And that means there is a loss of value when the transfer occurs.
This is my vision of a true cashless society. There is an exchange of value in its entirety – just like cash. And it requires a national government – rather than banks or the like – to act as the payment provider, effectively becoming a state-backed utility.
The savings from avoiding the processing costs could then be used to benefit those in need, such as by being transferred to a fund to rejuvenate economically depressed areas, as one example.
This might sound counterintuitive, but I would argue just about everyone has access to capital. However, for the poorer members of society, there’s often a prohibitively high cost to accessing it. If you have a great business idea but can’t afford start-up capital, then your venture is unlikely to get off the ground.
A cashless society – along with the transformation of the last mile of money transfers, payments and banking services – will help to close the financial inclusion gap.
A tool to fight corruption
Cashless technologies could be some of our greatest assets in the fight against corruption and organised crime, too.
And, once again, the people who stand to benefit most are those who are most in need.
There are 1.4 billion people in the world who have to make do with less than $1.25 a day. At the same time, around $1.26 trillion is effectively stolen from developing countries, due to corruption, bribery, theft and tax evasion. If we could reclaim that money for those countries, we could lift those 1.4 billion people above the poverty threshold and keep them there for at least six years.
If everyone were connected to an end-to-end e-payment infrastructure – a cashless environment – there would be transparency in money flows. Whether it’s international aid or private investment, if everyone in the chain were connected digitally, you could see where the money went and how it was spent.
Any sums appearing outside of that framework could immediately be flagged and investigated. This would narrow the focus for law enforcement and forensic accountants, making it easier to target and recoup hidden money.
The enabling factors
There are, of course, many challenges to overcome as we embrace this level of disruption. And governments will need to take preemptive and proactive action in areas such as identity management and the protection of security and privacy.
However, the underlying support structures to make it all possible – the building blocks, or e-plumbing – are already in place. We already have secure, enabled ecosystems and the next generation of infrastructure.
At Finablr, we have four decades of experience in regulatory alignment and cross-border compliance, with a network spanning 170 countries. We also have proprietary technology, which enabled 150 million transactions at a total value of $115 billion in 2018 alone.
There’s no going back – which means we need to face the risks and deal with some of the difficulties of going cashless in order to unlock the benefits.
In developed countries, a cashless society will deliver transactions that are seamless, frictionless and low-cost. And in developing nations, it could deliver life-changing socio-economic benefits.
This easily accessible exchange of value will create a more equal world, and strengthen the bond between people, regardless of where they live.
One of the plans of the Globalists is for a “cashless” society, and whether they really know it or not it all falls into the hands of Satan and his grand scheme! It links everyone together, it will be used as a tool to track every individual, their whereabouts, their purchases, their contacts. It will be used as a tool to help usher in a One World Government, a way to equalize the financial status of every person on earth, Socialism on steroids! And it will eventually be used by Satan with the institution of the Mark of the Beast! No one will be able to buy, sell, or trade without it, no one!
It’s happening my friends, the coronavirus pandemic is being used as a tool to further the plans of the Progressives, the Globalists, the Elites. It’s happening right before our very eyes, nothing will ever be the same, and it is the beginning of the end times!
God bless my friends! Maranatha!