Fri, 30 October 2015
I know many of you might think the idea of a cashless society would be great. No more dealing with dirty bills, no more risk of theft. It sounds like a pretty cool idea. Being a tech nerd myself the idea of a technology that would eliminate the need for physical currency has some appeal.
But let me ask you a question. What if the government outlawed all physical currency? No more paper money, no more gold. All transactions had to be handled electronically.
What if the government then decided it was going to charge you a penalty each month on every digital dollar you had in your bank account? Under normal circumstances, you would simply withdraw your money and stick it in a mattress or bury it in the backyard.
But under this new system you'd be out of luck. The only thing you could do was spend your money or risk it being eaten away in bank charges.
I have been warning you about this for nearly a year, and Sweden is now facing this very scenario. Today on the show we'll talk about the danger of a cashless society as well as some discussions about war and socialism. It's a nice mix of international news and why it should matter to you.