Not much is written about the secretive BIS, but this article is an exception as it recognizes it as "a bastion of global technocracy." TN would add that the World Bank and the International Monetary Fund complete the Technocratic troika.
Cashless society is a requirement for forcing everyone into a digital system, a goal for Fintech and Sustainable Development. Nobody has yet taken American retailers to court over the legality of refusing to accept cash, but according to the U.S. Treasury, each bill clearly states: "This note is legal tender for all debts, public and private."
The author does not have Technocracy in view, but only in name. Technocracy will force the extinction of cash in order to build a replacement monetary system to finance Sustainable Development that will resemble Alice in Wonderland.
There is a people's movement in Sweden to retain cash as a backup to tech failure, but others continue to squeeze it out. Young Technocrats think it's cool to get chips inserted into their hands as a payment system.
The IMF is now openly writing about blockchain technology in creating a global crypto currency, built on the old concept of Special Drawing Rights (SDRs). The SDR is a basked of traditional currencies, but could provide a pivot to move to cryptocurrency.
TN agrees that the Central Banks will adopt a variation of cryptocurrencies that will crush all other forms. The field of Fintech (Financial Technology) has already been declared to be the financial enabler for Sustainable Development, aka Technocracy.
Cashless society is a Technocrat initiative to force people into the digital world. Even if forced cash withdrawal is meeting with resistance, it doesn't mean that people will not be voluntarily abandoning cash over time.
For years, Riksbank led the charge for cashless society in Europe, which was part of the Utopian dream of total control. Now, it has done a complete u-turn, saying that cash must be re-instituted throughout the nation. This is the first evidence that some sectors in Europe are pushing back against Technocracy.
Fintech is the financing model for Sustainable Development, using blockchain, digital currency, digital payment systems, and ubiquitous tracking of every conceivable transaction to be analyzed by Artificial Intelligence. J.P Morgan Chase intends to dominate.
Fintech is the emerging financial system for Sustainable Development, and will permeate every phase and level of the financial world. Further, all nations of the world are embracing Fintech, from China to Europe to the entire Islamic world.