If you are travelling with significant amount of cash you can be pulled up by the law enforcement and your money can be confiscated. You may have to go through a cumbersome and costly legal process to get your hard-earned money back.
According to the government, cash is a barbarous relic which allows terrorists and criminals to carry out malicious transactions in secrecy. But what is the guarantee that the such groups will not find some other way of financing their operations?
The idea that banning cash will end the activities of terrorists and criminals is as foolish as the idea that a government funded education and healthcare will improve the quality of peoples lives.
When people switch to digital payment systems, every transaction, big or small, is recorded and can be tracked. The government agencies will have the ability to keep track of peoples most private financial dealings. This can mean an end to the privacy of not just the political opponents of the regime but also of the ordinary citizens.
In 1984 George Orwell has described a dystopian world where a totalitarian government tracks people’s movements and habits through a system of giant TV screens.
By coercing the businesses and the individuals to make payments through digital financial systems which can be “supervised” by the bureaucrats, the government is getting closer to creating an Orwellian dystopia where the citizens are being constantly watched.
In her article “The Soul of an Individualist,” Ayn Rand nails it: “Civilization is the progress toward a society of privacy. The savage’s whole existence is public, ruled by the laws of his tribe. Civilization is the process of setting man free from men.”
It is unfortunate that now we are now on verge of moving away from a society of privacy.
Liberty can’t exist in a world where there is no privacy. A cashless society, where our entire existence is public, will be a savage society ruled by a totalitarian regime. When the politicians have more information on our spending habits, they will be able to impose more control and levy more taxes.
The switch from gold based currency to paper currency gave the government huge control over our money. The move towards cashless society is designed to complete the process and give the government absolute control over our money and thereby on all aspects of our lives.
A cashless society is an easy-to-monitor-and-tax society. It is a recipe for disaster.