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Australian mainstream media has announced “we have taken a major step towards a cashless society” as major Australian banks refuse to honor cash withdrawals by customers.
The disturbing move comes just days after the World Economic Forum announced that world governments must move towards a cashless and centralized system to track and control how citizens spend their money.
“There are stories abounding today that you can’t get cash from banks anymore,” said Sky News Australia host Peta Credlin who reported that bank branches near her home in central Melbourne are not allowing cash withdrawals to customers.
Sky News Australia senior reporter Caroline Marcus said that the banks are treating people with “absolute disdain” following the reports customers are being refused access to cash.
“They’ve got to remember it isn’t their money,” Said Marcus. “It belongs to the customers. It kind of leaves you feeling that you might be better off stashing your cash under the bed.”
Earlier this week, the World Economic Forum announced that the future is cashless, while extolling the virtues of CBDCs.
Australia is the testing ground for many World Economic Forum policies and Joe Biden is rapidly advancing plans to eliminate physical cash and ensure that Americans cannot own their own money.
The White House and the Federal Reserve, under Biden’s orders, have started developing a central bank-controlled digital currency. This programmable, trackable, easily manipulated digital dollar would render physical money obsolete. While this might sound like something from a dystopian science-fiction novel, it is all too real and could soon change life in America forever.
In March 2022, the Biden administration released a sweeping executive order that directed numerous federal agencies to crack down on digital assets, including popular cryptocurrencies. The order also ordered the Fed to study the potential development of a central bank digital currency (CBDC).
Although a CBDC is often termed a “digital dollar,” it would not be a digital version of the existing paper-based dollar. Rather, a CBDC would be an entirely new currency that would exist exclusively in an electronic, non-physical form.
Unlike with decentralized cryptocurrencies, such as Bitcoin, every transaction made using a CBDC could be easily traced to individual users by financial institutions, government agents, and/or the Federal Reserve. Additionally, because a CBDC would be digital and programmable, rules could be imposed that limit spending on approved activities.
Since physical cash would be obsolete, people would have no other options to make purchases. In another example, the government could monitor a person’s spending to calculate their “carbon footprint” and then issue directly deducted fines or apply spending caps.
