The Cashless Meme Rolls Along

With the rise of the credit card and electronic transactions, many thought it would spell the end of cash. But does electronic commerce really makes our life better? Cash-free transactions make life more convenient, but at a cost. There's fees. There's the risk of personal information leaks. Companies know what you buy. And the tax man can track your every move. Still, it seems like it's only a matter of time before cash — and even credit cards, with smart-phones increasingly being used for consumer spending — go the way of the dodo. Do you think this is a good thing? – NMA TV

Dominant Social Theme: This is a controversial idea, this cashless society.

Free-Market Analysis: NMATV, the Taiwanese company that broadcasts "animation news," has composed a segment devoted to the "cashless" society. Interestingly, this presentation is not pro- or anti- cashless society but gives both sides of the issue.

Of course, we tend to think the "cashless" society is an elite dominant social theme – an elite meme that is gathering strength. It seems fairly clear to us that such a society would allow for tracking of virtually all forms of human activity. Is that the plan of those who seek global government?

The NMA animation doesn't answer the question. Instead, it takes an open-minded look at the evolution of cash and asks whether it is a positive evolution.

Of course, from the point of view of anyone who believes that privacy is already being invaded by technology, such an evolution is probably NOT a good thing.

Certainly the discussion is going ahead – along with government actions that drive the discussion. Just the other day, in a story entitled "Spain Bans Cash" we discussed the ramifications of the decision of the Spanish government to ban cash transactions over 2,500 euros.

The Spanish government was clear about its intentions – primarily to ensure that people paid taxes. But it seems to us that governments should investigate why people are avoiding taxes rather than passing new laws that attempt to compel people to behave in certain ways.

Such laws rarely if ever work. Laws, in fact, that do not conform to "natural law" – to what people are generally willing to do – are a kind of recipe for increased civil tension.

This is why it seems to us that a true cashless society will be resisted in the West and likely throughout the world.

The NMA animation asks people for their opinion on an evolving "cashless"society. But we think we already know the answer. See the video here ...

(Video from NMAWorldEdition's YouTube user channel.)