At least the criminal banking cabal in Japan is honest about the
development of cryptocurrencies and it is all about getting people out of
cash and onto the digital plantation.
A consortium of Japanese banks are set to launch a new
national digital currency in a bid to wean citizens off cash, the
Financial Times reports.
The FT says that a consortium led by Mizuho Financial Group and Japan Post
Bank plans to launch the new digital currency in time for the Tokyo 2020
Olympics.
The new project, which has the support of Japan’s central bank and
regulators, aims to develop technology to allow Japanese people to pay for
goods and services with their smartphone.
Cash currently represents 70% of all transactions by value in Japan but such
a heavy cash dependency incurs costs for banks and governments. Banks must
pay to handle, transport, and audit large amounts of cash, while governments
risk losing tax revenue to undocumented cash-in-hand work or black market
transactions.
****
The consortium of banks estimate that the adoption of a new digital
currency could add ¥10 billion ($90 million; £67 million) to the economy, the FT
reports. J-Coin will be exchanged at a one-to-one rate with yen.
Source
What’s that? 70% of all transactions by value are conducted using hard
currency but since the banksters level of insolvency no longer supports
producing physical cash it’s time to force people to use their “smartphone”?!
Yep. that’s the plan.
Using cash – not cryptocurrencies – is one the best weapons we could use
against the Federal Reserve, the banking cabal and government thieves. Cash
transactions can not be tracked. Cash transactions are opaque and, at this
point in history, are akin to a black market even though cash is legitimate
and used for above-board transactions.
You are welcome to believe what ever you wish about cryptocurrencies as
long as I am allowed to believe what I wish to believe about them. My views
are based on the past history of the criminal psychopaths that are currently
running the world of finance and economics. Their hundreds years long history
has proven they will stop at nothing to get their way and to enslave the
people in whatever form best fits their need.
The current batch of cryptocurrencies, as noted by most of the
cryptocurrency advocates, will probably not be around very long and will be
replaced by something newer, shinier and whatever people see as being the
newest, coolest form of not-money – not-currency.
Give me cash, gold and silver any day of the week – these are what the
banksters truly hate and are attacking on all fronts. For me, it all comes
back to the same old question – why are the banksters, their government
enablers and bought and paid for mouth-pieces, the mainstream media, loving
on cryptocurrencies and hating on cash, gold and silver? This might be the
single most important sign post during this transitional time.
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Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700
articles and produced more than 200 videos about the precious metals
market, economic and monetary policies as well as geopolitical events since
1987. His articles have been published by Zerohedge, SHTFPlan, Sprott
Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory
has contributed daily to SGTReport since 2012. He has interviewed experts
such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente
and Peter Schiff, to name but a few. Visit The Daily Coin website
and The Daily Coin YouTube channels to enjoy original and some
of the best economic, precious metals, geopolitical and preparedness news
from around the world.
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The author is not affiliated with, endorsed or sponsored by Sprott Money
Ltd. The views and opinions expressed in this material are those of the
author or guest speaker, are subject to change and may not necessarily
reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the
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