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Who’s Fighting The War Against Cash?

Mastercard, Visa, and Bill Gates are all pushing for polices to make it harder to use cash, hoping to keep closer tabs on the population through the trail of electronic transactions. Here Norbert Haring speaks with Real News about the implications to the world and our future of the mostly US's combatants' war on cash, including the so called "Better Than Cash Alliance" including their involvement with India's demonetization.

Department of Consumer and Worker Protection Releases Updated Report: 1.04 Million Households in NYC are Unbanked or Underbanked

NEW YORK, NY – Department of Consumer and Worker Protection (DCWP) today released a research brief illustrating the updated number of unbanked and underbanked households in NYC and where they live. The brief shows that 354,100 households (11.2 percent) have no bank account (unbanked) and another 689,000 households (21.8 percent) have a bank account but use alternative financial products for some banking needs (underbanked). The estimated number of unbanked and underbanked households are disproportionately in neighborhoods that have higher rates of vulnerable residents and residents struggling in other areas of financial health.

(India's) Cashless economy brought about by demonetisation hurt the poor and the economy

India's project to use biometrics to set up a cashless economy that was friendly to illiterate people is particularly scary to me. Am I imagining this, or does that seem to you as if it portends a sort of giving up on education of the poor, because using biometrics, they can identify them for administrative purposes (the system uses retinal scanning) without the poor even needing to know how to read or write their own name.

US involvement in India demonetization - Big US companies behind the Indian "cashless cities " movement.

One worry I have though is, what happens if there is a strong solar storm, which could wipe out the energy grid and also, telecommunications for some time. (possibly years, as transformers that carry electricity are expensive, manufacturing capacity is limited, and they are difficult to replace) Another risk is multiple nuclear meltdowns due to loss of the ultimate heatsink. Cashless could mean no way to purchase food for an extended period of time.