Covid-19 will be mobilised by the financial industry to push their War on Cash even further, leaving us ever more ensnared within their private digital money empire.
An estimated 7 percent of American households don’t have access to bank accounts, according to the most recent survey from the Federal Deposit Insurance Corp. And a government study at the end of last year found that the U.S. homeless population had risen for the first time since 2010. Given rising inequality, what happens to those on the margins of the economy when cash is no longer king?
Our concerns are unfashionable. Without any explicit declaration, the War on Cash has begun.
In uncertain times, “cash is king,” but central bankers are systematically moving to eliminate that option.