For those that don’t know, banks and governments around the world have been quietly waging a war on cash. With the rise and acceptance of electronic forms of payments, they believe that cash is becoming more and more obsolete, but not only that, large volumes of cash are almost always used for criminal purposes, at least in their opinion. So doing away with cash not only makes the financial system more efficient, it also cuts down on crime and terrorism.

At least that’s what they claim.

But anyone who has been around a while knows that the real reason to eliminate cash is to eliminate financial anonymity. It also forces pretty much every economic transaction into the control of the banks. Not a cent can move without banks or governments knowing about it. And this type of control is what makes the elite’s mouths water.

For example, Peter Sands who is a fellow at the Harvard Kennedy school and advisor to the Singapore central bank wrote an academic paper that claimed eliminating high denomination bills like the $100 bill would disrupt the business model of criminal organizations around the world, and even make some of them fail, or so his naive paper claims.

But what Mr. Sands fails to see is that criminals are highly adaptive, they have to be. You don’t become a large criminal enterprise without being adaptive. You have governments, law enforcement, and other criminals all out to get you and you have no protections. So banning $100 bills will be nothing these criminals can’t deal with. They will simply adapt and keep moving on.

But the irony here is that everyday people NEED large denomination bills exactly because central bankers like Peter Sands have printed so much money, our currency is almost worthless because of run away inflation. You can take a $100 bill to the gas station, fill up your SUV and buy a case of beer and barely get $20 back in change. This is all because of run away inflation caused by people like Peter Sands who thinks a $100 bill is too large for the average citizen to keep in their pocket.

So obviously, the war on cash won’t stop any criminal activities, they will simply adapt because that’s what they do everyday. Instead it will only hurt the average person, by forcing them even further into the system the central bankers totally control. Not only that, let’s not even start on the discussion of how undemocratic it is for the government to take away the rights of every citizen to possess cash just to try to stop a tiny number of criminals.

But that brings us to the next issue and the real reason why the war on cash exists, and that’s financial anonymity. Governments and central banks hate for any transaction to go unrecorded, and removing cash puts every transaction right on their record books. You won’t even be able to buy a pack of gum without there being a record of it.







So how does this relate to the surge in crypto? Well, banks know that people do want a way to make purchases anonymously. They may not want it all the time, but they want to know there is always an option to pay or give money in a way that is private. And if you start to take that option away, they will start to look for other options. And this is where crypto comes in.

When the banks started their war on cash, crypto was still an obscure technology that barely made the news, if at all. But now, cryptos are the talk of the town, everyday people are investing and buying Bitcoin and other currencies. If the banks keep up their war on cash, they will just push people towards crypto. But that’s the dilemma for the banks, they hate crypto just as much as they hate cash, if not more. So if they keep trying to cut down on anonymous cash transactions, they will simply push people to start using crypto as an alternative, and thus speeding up its adoption.

It is this dilemma that I believe is putting damper on the bank’s war on cash. They have to decide whether they hate cash or crypto more and which is more of a threat to their control. I believe in the end they will decide crypto is more of a threat, and the war on cash, at least for now will slow down. But eventually, using their ties to governments, they will come after crypto as well.