With so much news about Ukraine, inflation, massive government spending and exploding deficits, it’s easy to overlook the ongoing war on cash. That’s a mistake because it has serious implications not only for your money, but for your privacy and personal freedom, as you’ll see today.

The war on cash is a global effort being waged on many fronts. My view is that the war on cash is dangerous in terms of lost privacy and the risk of government confiscation of wealth.

But in reality, the so-called “cashless society” is just a Trojan horse for a system in which all financial wealth is electronic and represented digitally in the records of a small number of megabanks and asset managers.

Once that is achieved, it will be easy for state power to seize and freeze the wealth, or subject it to constant surveillance, taxation and other forms of digital confiscation like negative interest rates.

They can’t do that as long as you can go to your bank and withdraw your cash. That’s the key. In other words, it’s much easier for them to control your money if they first herd you into a digital cattle pen. That’s their true objective and all the other reasons are just a smoke screen.

That’s what they won’t tell you.

https://dailyreckoning.com/the-war-on-cash-entering-bold-new-phase/