Money, or some form of payment has been around for as long as man himself. From an early age, we exchanged services for services, products for products and kind for kind.
This eventually took the form of a token, a promise or a value. And from this, modern money was invented. This program studies the possibility of a global cashless economy, and identify what advantages and disadvantages there are, and if as predicted, for the world to become a cashless society in the future.
The global war on cash: did u even know there was a war against it? Yes, there is a real push, a concerted effort by governments and their lawmakers to move to a cashless society. First the numbers that prove we are moving towards a cashless system. In 2010, there were 285.2 billion cashless transactions worldwide. BY 2015, that number increased to 426.3 billion.
What medium is used to conduct these cashless transactions? There are a number of ways, but the mode that is used is digital They are the intermediaries, like Paypal and Square, On-line banking, like Visa & Mastercard, smartphones, like Apple Pay, and crypto currencies, the famous one of them all being Bitcoin.
It is because of the success of the digital form of transactions that governments around the world are pushing for the elimination of cash: Some of the reasons: Removing high denomination bills will make it hard for criminal activity. U.S. $100 bill is the most popular note.
Perhaps one of the best examples of the war on cash is India. If you're not aware by now, India just months ago announced the demonetization of 2 of its most used currencies, the 500 and 1000 rupee. To use his words: this was a war against black money and corruption.
F. William Engdahl: international political analyst, economist and author says there was more behind Modi’s intentions. I found out that the whole scenario of the war on cash of Modi came from the United States Agency for international development, a cut out for the CIA. Now the interesting thing is: who’s behind the USAID initiative? And there I found out something called the Global Innovation Exchange.
Now what in the world is the Global Innovation Exchange? It turns out it’s an organization set-up by the Bill and Melinda Gates Foundation who are always there on the frontlines of doing good for the people in this world, to give them GMO Monsanto food products in Africa with the green revolution or what will you.”