I came across this worrying interview about the disappearance of cash from the Swedish economy. The same thing is happening in Australia where Tap-And-Go is rapidly replacing cash transactions in our small business. We have seen cash purchases go from 75% of our takings to less than 25% within 2 years. This is driven by 'convenience' but is being pushed from all sides - banks, governments, technology and telcos. Bank branches are closing, ATMs are disappearing.
This is an assault on the ownership of cash. Instead, banks are renting our money to us. We are losing our liberty of transaction with everything intermediated by a broker. Once we no longer own our money, our centralised banking system can do perverse things to us - negative interest rates are just the start. At the flick of a switch, our access to our money can be turned off - don't think this could happen in a developed country? Just ask Greece.
I expect that the RBA plans to scrap the $100 note during the current round of bank bill replacement.
You need to stand up for our right to own our own money!
Australian Retail Association slandering cash - http://www.bpaybanter.com.au/news-views/melbourne-butcher-refuses-cash
ATO cracking down on cash - http://www.smh.com.au/business/the-economy/ato-cracking-down-on-cash-economy-20140825-1082c9.html
VISA bribing businesses to stop accepting cash - http://money.cnn.com/2017/07/14/news/companies/visa-no-cash-restaurant-initiative/index.html
