Cashless Society – Greek Government Increases The Pressure

The Greek government is becoming more blatant in its call for a cashless society.

Today is another example in a long line of policies designed to push cash out of the hands of the Greek population.

Greek ministers are now openly saying their goal is to “force” people to use cards for their purchases.

I quote directly from here

This said Mr. Haris Theocharis , Secretary of Revenue, who stressed that digital platforms are the future of both banks and the tax administration.

 He added that in September the government will consider the issue of incentive to move from cash transactions to electronic transactions..

The most disturbing part of the article was this, in referring to the role banks should play in the strategy

certification of citizens electronically.

ie citizens having to be registered with a centralised government/bank system in order to be able to purchase goods and services.

And in case there was any doubt about the goal of eliminating cash from Greece, he then said this

Mr. Panousis said among other things that there should be .. counters that “forced” people to pull out their card to pay. Indeed stressed that the card does not need to be a credit card, but may be the debit that almost all have in our wallet.

Now you may be asking what is the problem with a cashless society.

There are two problems which are immediately evident.

If you are forced to keep you money in the bank then you will be subjected to whatever interest rate the central bank imposes and considering the ECB and Mario Draghi are talking about the possibility of negative interest rates for savers, this should be massive cause for concern for anyone with money in the bank.

The second point has been brought into the light after the Cypriot banking crisis. Governments in Europe have now given themselves permission to decide what happens to depositors cash held in banks outside of the legal system. If you are forced to keep your money you will be at the whim of politicians and bankers whose motives in seizing your cash will be to “preserve the stability of the currency” or in other words “for the greater good”.

A phrase that should worry any hard-working serf especially when the words are uttered by one of their elected representatives, or unelected as the case may be.


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