The government is planning to end cash. Why is this good? Why is this bad? This is how it will affect us

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Today I want to talk about the government’s plan for what’s called a “CASHLESS SOCIETY “. Many people believe that this is something the central powers of the world have been planning for us for quite some time, and they just haven’t found a good opportunity to do it.

Until now. If you notice throughout history, during times of a crisis, the government gets ONE STEP CLOSER, to give us a peace of mind - to give us protection, but instead: what actually ends up happening is, we lose a little bit more of our freedoms along the way - in exchange for a little more convenience.

How will this affect the stock market? How will this affect our investing, dividends, real estate, and everything else?

This is what has happened to cash recently: Italy has made cash transactions over $1,000 euros illegal, Russia has banned cash transactions of over $10,000, Australia is banning cash over $10,000, Spain over $2,500 Euros, Mexico $200,000 pesos, and France at $1,000 Euros.

But here's the good and the bad to getting rid of cash, starting with the good.

The Good:
1. It’s argued that the biggest advantage to going cashless is a reduction in criminal activity. By using digital forms of money, the government prevents illicit activity, the counterfeiting of money, and will significantly reduce money laundering.

It’s estimated that in a SINGLE year, criminals can launder between 2% to 5% of the Gross Domestic Product, the GDP of the entire WORLD. That equals to roughly anywhere between 1.7 to 4.3 TRILLION dollars per year, and that is a MASSIVE out of reach market.

2. Businesses would streamline a lot of profit by cutting costs necessary to store and track CASH. According to statistics 5% of all business revenue, is lost due to theft. Can you imagine what this would do to stock prices?

3. It would cut the time down to process non cash transactions by at least 15%, which means more customers can actually buy things and instead of having to wait in line. It also means businesses can significantly reduce the cost of processing cash, transporting it, counting it, and hiring people to manage the cash registers. Which in turn, would further reduce the chance for that cash being stolen by employees as well.

4. One of my favorite benefits is tracking our money. The best way to start saving 50% of your income, and investing that money is to start keeping track of where it's going. We can’t do that with cash as well so this is definitely a plus.

5. The best benefit of going cashless which is how this idea will ultimately be sold to us as something we need right now is - it helps prevent the spread of germs.

Now let's take a look at the other argument against implementing a cashless society.

1. We give up choice and control to the banks, to the fed, and the IRS thus making them MUCH more powerful than they already are. For example, during the cryptocurrency boom that happened in 2017, banks started banning people and forcefully CLOSING ACCOUNTS of customers who were transferring money to perfectly legal brokerages. The banks didn’t like the competition, so they forced people off and closed accounts.

2. By having access to cash, this limits the power the Fed has over the effects of it’s monetary policy. For example, during the European debt crisis, when the European Central Bank ordered negative interest rates of -.1%, in order to incentivize spending instead of saving, all that did, was it forced people to save more money and what people did instead, was withdraw their cash rather than keep it in the bank. One can argue that by having cash, we can “fight the fed” by having a say over what happens to our money.

3. Data is the new age gold. And by going 100% digital, we are giving up all sense of privacy. That means whoever has our data about how we spend money, can use that to create a digital blueprint about our habits, and even our location at any given time.

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