The European Union Initiates Cashless Society Project

Thursday, December 8, 2016
By Paul Martin

Desperate To Raise Taxes

By Graham Vanbergen
Global Research
December 08, 2016

A few months back The Guardian ran an article stating that “Swedes are blazing a trail in Europe, with banks, buses, street vendors and even churches expecting plastic or virtual payment” as if the cashless society was something to be celebrated by modern society.

“I don’t use cash any more, for anything,” said Louise Henriksson, 26, a teaching assistant. “You just don’t need it. Shops don’t want it; lots of banks don’t even have it. Even for a candy bar or a paper, you use a card or phone.”

Cash transactions are already outdated in Sweden. According to central bank the ‘Riksbank’, cash transactions will make up up barely 0.5% of the value of all payments made in Sweden by 2020.

Likewise and according to The Independent, Denmark has moved one step closer to becoming the world’s first cashless society, as the government proposes scrapping the obligation for retailers to accept cash as payment – because, as they say, its to do with the “burden of managing change and notes.”

Strange then that all this is happening in an environment where EUR bank note circulation is still rising.

The European Payments Council (EPC), a subdivision of the European Central Bank, are taking steps in their quest to fully eliminate all cash. The reason is not to lift the burden off retailers or to make transactions more convenient but in reality to raise desperately needed taxes.

Highly respected ‘ArmstrongEconomics‘ reports that the EPC are going full steam ahead to enable immediate payment systems throughout not just the Eurozone but the entire European Union. The Single European Payments Area (SEPA) has been devised with the ultimate goal of eliminating ATM cash machines and force everyone to use their mobile phones or plastic cards, the project starting as early as November 2017.

In the absence of confirmed information on this point, it is likely that tourists and business people will be forced to pre-pay Euro’s onto an App if they come from a country outside the eurozone, currently made up of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

The final goal of the EU Commission is best described in their own words: “The Single Euro Payments Area (or “SEPA” for short) is where more than 500 million citizens, over 20 million businesses and European public authorities can make and receive payments in euro. SEPA also means better banking services for all: transparent pricing, valuable guarantees ensuring that your payments are received promptly and in full, and banks assuming responsibility if something goes wrong with your payment.”

The Rest…HERE

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