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Financial preparedness: What are the dangers of a “cashless” economy?

https://www.naturalnews.com/2023-11-02-financial-preparedness-dangers-of-cashless-economy.html

November 02, 2023 -

But if you want to avoid common risks like credit card fraud and digital systems that are vulnerable to cyberattacks, cash will always be king. (h/t to SHTFPlan.com)

In the U.S. and other economies that have legal tender laws, only cash is recognized as money. While others think that the balance of their bank accounts is money too, that is not quite the case. After all, your bank balance is one step removed from legal money.

All banks must maintain minimum balances ...

China completes first ever digital YUAN purchase for cross-border oil transaction as global DE-DOLLARIZATION accelerates

https://www.naturalnews.com/2023-10-26-china-digital-yuan-cross-border-oil-transaction.html

October 26, 2023 -

Chinese financial news outlet Yicai was the first to report that PetroChina International purchased one million barrels of crude oil using digital yuan, this being the first time an overseas oil settlement on the SHPGX was completed using the currency. The name of the seller of the oil has not been disclosed.

Earlier this year, the SHPGX made several transactions in regular yuan, including the yuan-denominated PetroChina and TotalEnergies liquefied natural gas (LNG) ...

British activist threatened with arrest for using CASH in cashless Aldi grocery

https://www.naturalnews.com/2023-08-02-man-threatened-arrest-using-cash-aldi-grocery.html

August 02, 2023 -

WND reported that the man, identified as Piers Corbyn, entered an Aldi location in the town of Greenwich. That grocery operates entirely on the Aldi App, meaning all transactions are done electronically and there are no checkout counters. Piers is the elder brother of Jeremy Corbyn, who formerly led the British Labor Party from 2015 to 2020.

He tried to buy a pint of strawberries, but the physical cash he carried to pay for the items was rejected. Piers nevertheless left ...

DIGITAL PRISON: ALDI grocery stores in London now requiring digital, cashless purchases

https://www.naturalnews.com/2023-06-13-aldi-london-requiring-digital-cashless-purchases-only.html

June 13, 2023 -

A man who was visiting London for the night uploaded video footage of the location that quickly went viral. He says he tried to purchase food at the ALDI only to learn that in order to even just enter the store he had to download the company's app on his phone.

"I drop into the local Aldi's, only to be told that in order to enter the store I have to download an app and scan a QR code," the man tweeted. "Resist this BS. Resist digital ID. Resist app-based everything. Be ...

American businesses, big-box stores increasingly rejecting CASH as forced shift to cashless society accelerates

https://www.naturalnews.com/2024-01-31-businesses-big-box-stores-rejecting-cash-cashless-society.html

2 months ago -

Upwards of one billion people worldwide currently do not have a bank account, which means that they, too, are in trouble once stores in their native lands decide to scrap cash and switch to a cashless model of digital, and easily trackable, payment systems.

In larger cities like Seattle and Los Angeles, "No cash accepted" signs are popping up everywhere, including on the windows or stores that claim to be "inclusive." Nothing says inclusive quite like refusing customers ...

Portent of things to come: Move to go cashless by McDonald’s greeted with calls for BOYCOTT

https://www.naturalnews.com/2024-02-01-mcdonalds-going-cashless-melbourne-sparks-boycott-calls.html

2 months ago -

It began when one disgruntled customer shared a photo of the sign at a McDonald’s drive-through in Clayton South, Melbourne, which informed diners that cash would not be accepted at specific times.

According to the sign shared in the "Cash is King" Facebook group, cash payments would no longer be accepted from midnight to 6 a.m. due to safety reasons for both staff and customers. "Thank you for your continued cooperation and understanding," read the sign.

The customer ...

CASHLESS DOWN UNDER: Australia gears up for CBDC rollout, with major banks banning OTC cash withdrawals

https://www.naturalnews.com/2023-08-16-australian-banks-ban-otc-withdrawals-cbdc-rollout.html

August 16, 2023 -

The Daily Mail named the four banks as National Australia Bank, Commonwealth Bank, ANZ and Westpac. While "special centers" will be designated to accommodate "more complex banking needs including cash," the overarching objective is to gradually eliminate paper money altogether. This, in turn, would nudge the public toward a fully digital monetary system.

The Australian government, in partnership with the Reserve Bank of Australia (RBA), has undertaken a comprehensive ...

UK on track to become a FULLY CASHLESS NATION by 2035 as use of cash declines rapidly

https://www.naturalnews.com/2023-07-06-uk-to-become-fully-cashless-nation-2035.html

July 06, 2023 -

In 2012, around 60 percent of all transactions in the U.K. were still conducted using physical currency. At this rate, by the end of the decade transactions using cash notes and coins will account for just six percent of payments, and by 2035 virtually all transactions will be conducted through debit and credit cards or a form of digital payment system. (Related: Top Bank of England official warns cash is becoming "less usable" as more people opt for digital payments.)

The ...

Australia’s transition to a fully cashless society now in full swing as major bank closes all physical branches

https://www.naturalnews.com/2024-03-15-australia-fully-cashless-society-major-bank-closes.html

14 days ago -

This announcement comes as Sydney-based banking software company Constantinople, a startup founded by two former executives of major bank Westpac, unveil a new app called Business+. They claim that this app will be an all-in-one mobile app that can offer Australia's first end-to-end digital banking platform for the country's 2.4 million businesses with fewer than 10 employees.

CBA and Westpac are two of Australia's "Big Four," or the four largest banks that have traditionally ...

Fast-food chains under Yum! Brands to go CASHLESS soon: Taco Bell, Pizza Hut, KFC to REJECT cash

https://www.naturalnews.com/2023-08-28-fast-food-chains-to-go-cashless-soon.html

August 28, 2023 -

This is according to Yum! Brands Chief Financial Officer Chris Turner, who noted during an earnings call the corporation's goal to gradually shift to full cashless transactions at its restaurants. Turner added in a separate interview that more customers would end up ordering through apps, websites or automated kiosks in the stores. He also revealed that the company is already testing use of artificial intelligence to take drive-thru orders. (Related: Businesses in major ...

National Park Service sued by woman over its refusal to accept CASH

https://www.naturalnews.com/2024-03-14-nps-sued-over-refusal-accept-cash-payments.html

15 days ago -

Elizabeth Dasburg and her two co-plaintiffs alleged in the lawsuit filed in the U.S. District Court for the District of Columbia that the NPS is violating American law by refusing to accept U.S. currency. They cited Title 31 of the U.S. Code – which stipulates that "all U.S. coins and currency (including Federal Reserve notes and circulating notes of Federal Reserve banks and national banks) are legal tender for all debts, public charges, taxes and dues" – as a basis for the complaint....

The next phase of the globalist takeover requires surrender to a new CASHLESS society, complete with digital passes and IDs to engage in commerce

https://www.naturalnews.com/2023-09-27-globalist-takeover-cashless-society-digital-passes-id.html

September 27, 2023 -

The United Kingdom is leading the way in a race to the bottom with plans to shutter up to 1,000 railway ticket offices across the country. This will force travelers to buy their tickets online and show a digital pass on either their smartphone or tablet in order to board.

Up until now, Brits had the freedom to either buy train tickets online digitally or purchase them in-person at a ticket kiosk with cash. Soon, the only way to travel in the UK will be through digital ...

Business STOPS whenever electronic payment systems go down – because nearly everything is digital and internet-based these days

https://www.naturalnews.com/2023-09-13-business-stops-when-electronic-payment-systems-down.html

September 13, 2023 -

Roughly 64 million small businesses rely on Square to process credit card transactions, generate sales reports, evaluate profit percentages and manage their inventory. When the system goes down, so does the business itself.

During the outage, which occurred midday on September 7, businesses that rely on Square were stuck unless customers paid in cash. Since so few customers pay with cash these days, there was very little business taking place that day at Square-run ...

IMF “working hard” on new global CBDC platform to replace dollar and other national currencies

https://www.naturalnews.com/2023-06-23-imf-global-cbdc-replace-dollar-national-currencies.html

June 23, 2023 -

Right now, the various currencies of the world are, for the most part, already controlled by unelected, private central banking cartels. A new IMF CBDC, however, would unify them all into one cashless cryptocurrency that everyone will be forced to use in order to buy and sell.

"If we are to be successful, CBDCs could not be fragmented national propositions," Georgieva declared at a policy roundtable discussion with Bank Al-Maghrib in Rabat, Morocco about CBDCs.

"To ...

Businesses in major US cities refusing to take cash payments due to “brutal” series of robberies

https://www.naturalnews.com/2023-07-05-businesses-refusing-cash-payments-due-to-robberies.html

July 05, 2023 -

But for store owners and employees in California, it's an option that has helped protect businesses from robbers.

More businesses in Oakland, California, are refusing to accept cash payments as they try to get thieves to leave them alone amid an alarming increase in store robberies.

The switch to cashless payments is unusual because in 2019, San Francisco passed an ordinance that forbade stores from going cashless due to "the potential negative impacts on low-income ...

NatWest bank issues further de-banking measures with new cash limits, prompting criticism from de-banked Nigel Farage

https://www.naturalnews.com/2023-08-10-natwest-bank-debanking-cash-limits-nigel-farage.html

August 10, 2023 -

The ever-encroaching push towards a cashless society is once again on display as NatWest has decided, effective Sept. 11, 2023, to reserve an "absolute right" to refuse the deposit or withdrawal of cash and checks that are deemed to be of too high an amount.

Farage has been keeping an eye on NatWest ever since the bank, via Coutts, removed him as a customer because of his political leanings. Now, Farage is on a crusade, of sorts, to let the world know what these corrupt ...

Top Bank of England official warns cash is becoming “less usable” as more people opt for digital payments

https://www.naturalnews.com/2023-04-19-bank-of-england-cash-less-usable-digital-payments.html

April 19, 2023 -

This is according to Sir Jon Cunliffe, who noted how online shopping and contactless payment options are becoming more popular, leading to physical money becoming harder to use. (Related: European Parliament to criminalize physical cash use by imposing limit on cash transactions.)

"Cash is likely to decline further and cash itself will become less usable in everyday transactions, for example, if internet commerce grows and if merchants increasingly accept only digital ...

Why the Mimblewimble protocol makes other privacy coin protocols obsolete

https://www.naturalnews.com/2023-05-12-mimblewimble-protocol-makes-privacy-coin-protocols-obsolete.html

May 12, 2023 -

(Article republished from TB358DE.Substack.com)

Monero, the oldest private and anonymous blockchain, uses the CryptoNote protocol based on Elliptic Curve Cryptography (ECC), a well-understood and proven cryptography. Ring signatures are used in a way where a user can create a transaction and automatically use the output of other similar transactions on the blockchain to form the input for a ring signature transaction, making it unclear which input belongs to the person performing ...

Starbucks teams up with Amazon to launch BIOMETRIC payment system in certain locations

https://www.naturalnews.com/2023-05-17-starbucks-amazon-to-launch-biometric-payment-system.html

May 17, 2023 -

According to Reclaim the Net, the program will be launched in selected Starbucks stores in the city of Edmonds in Washington state. The pilot of the Amazon One system will serve as a bellwether to determine whether older people will embrace the new technology.

As of writing, the use of the biometric payment system at Starbucks locations remains voluntary and other payment options are still available. But reception of Amazon One has been mixed so far, with attendants reporting ...

Bank payment processing outages highlight risks of relying on electronic banking

https://www.naturalnews.com/2023-11-17-bank-payment-processing-risks-electronic-banking.html

November 17, 2023 -

The effects of the outages were far-reaching. Many people’s payroll direct deposits failed, leaving them unable to access the money they earned. ACH payments also failed to process, which resulted in late fees. There were also duplicated withdrawals, which left many customers in a bind after their money was taken out twice for a single transaction. Between Wells Fargo, Chase and Bank of America, there were almost a million failed transactions in total.

A precise cause ...


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