Bamboozlement of Bank Runs as World Goes Cashless
By Daily Bell Staff - January 25, 2016

Norway’s biggest bank DNB calls for the end of cash … Could Oslo become Europe’s first cashless capital? … Norway’s largest bank has called for the country to go totally cashless over fears of illegal activity. – UK Independent via Times of India

Dominant Social Theme: Let’s focus on the bank runs while we build our cashless society.

Free-Market Analysis: Headlines are not shying away from Italy’s banking insolvency, which is forecast to overtake all of Europe sooner or later and then, like Superman, to “go beyond.”

Any time the mainstream media focuses on an issue with some directness we know it is something that globalists want mentioned. In this case, they want to keep us fearful, afraid we will go to bed starving and shivering in the dark.

But it is very likely we are looking at a dual meme here, as both events seem to have arisen at once.

More from the Times: “DNB has said 60 per cent of Norwegian cash usage is out of government control and is being used in money laundering schemes and black market deals.”

That’s an astounding statement, and who knows how accurate it is? In any event, it surely includes such activities as gambling, prostitution and drug purchases; in other words, activities that the state declares to be criminal even though they are in a sense “victimless” and dictated by human nature.

We’ve already covered the ascension of the cashless meme here. A recent post at End of the American Dream arrives at much the same conclusion we did.

In “The Beast System Arises: The Largest Bank in Norway Calls For the Elimination Of Cash,” the author Michael Snyder points out that, “They … are selling this as a way to crack down on criminals and money launderers, but in the end, the truth is that they want to be able to force everyone in society to use the banks and it would enable them to collect fees on almost every transaction.”

He adds, “It is an agenda that is being driven by greed, but it could also open the door for great tyranny.”

Importantly, he writes, “In addition, there would be absolutely no escaping the bank bail-ins that are coming in Europe. If there was no way to pull your money out of the system, there would be no way to avoid the kind of theft that has now been institutionalized by European authorities.”

The article reminds us that on January 1st, 2016, a new bail-in system went into effect in Europe based on the Cyprus bank bail-ins … Now the exact same principles that were used in Cyprus are going to apply to all of Europe.” In Cyprus, troubled banks removed funds from anyone who carried accounts of over 100,000 euros.

This is where bank runs and the “cashless society” converge from a promotional standpoint. The bank runs give banking elites the justification to further bankrupt the middle classes. It is the middle class that elites are always at war with.

The current bank insolvencies are stemming from the astonishing crash in the price of oil that may end up at US$20 a barrel, according to some insiders.

Today, the barrels that oil is shipped in are worth more than the oil itself. If you lean toward conspiracy theory, you can adopt the opinion that the elites are trying to bankrupt Russia, which relies heavily on oil sales.

If you are economically minded, you can claim the oil glut is the result of Chinese economic diminishment. With its economy in free fall, China simply doesn’t need so much oil. And the excess is pushing prices down.

But it ain’t so. The War Against the Middle Class is as old as urban society itself. It was probably waged in Sumer, in Babylon and then in Rome. And now, thanks to technology, it’s being taken to a higher level.

… Cash transactions of more than 2,500 euros have already been banned in Spain, and France and Italy have both banned all cash transactions of more than 1,000 euros. Little by little, cash is being eradicated, and what we have seen so far is just the beginning. 417 billion cashless transactions were conducted in 2014, and the final number for 2015 is projected to be much higher.

Of course the epicenter for the transition to a cashless society continues to be northern Europe. Denmark intends to entirely eradicate cash by the year 2030, and the transition to a cashless society in Sweden is now almost complete… Did you know that 95 percent of all retail sales in Sweden are cashless? And did you know that the government of Denmark has a stated goal of “eradicating cash” by the year 2030?

Over the next months we will be likely be bombarded with statements about the fragility of the banking system, worldwide. But it is the progress of the “cashless society” that you want to keep your eye on.

Elites treat the price of oil like a yo-yo, seemingly moving it up and down as they want. For instance, Obama just conveniently concluded a treaty with Iran that will allow Iran to sell oil on the world markets, lots of oil. And so the glut expands. The real prize is the justification the latest “crisis” offers to build the cashless society.

Conclusion: You can see this one coming. If you are a regular reader of The Daily Bell you know what to do. If you are not, please return here, as well as to other alternative media outlets, and you will begin to understand.

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  • tom hewitt

    “Today, the barrels that oil is shipped in are worth more than the oil itself.”

    Come on, crude oil hasn’t been shipped anywhere in a barrel in many decades.

    Aside from that, the change to a cashless society should be welcomed by us anarcho-capitalists that despise the control that the state and its vulture banking partners have over the medium of exchange. By attempting to withdraw their fiat cash from the market they open up the opportunity for the use of mutually agreed upon free market money. However, since the US hundred dollar bill is accepted the world over, it will probably be the last to fall into disuse. Another form of state-sponsored money likely to survive in the US is the postal money order, a convenient, anonymous form of money even now used as cash in remote parts of the country without banking services despite its expensive seigniorage. The use of existing coins of any national origin with real metallic value will quickly become the standard money among a large portion of the population until private mints can meet the supply, legally or otherwise. This is just one more step on the accelerating decline of the hyper-bureaucratic nation/state.

    • “… Companies still ship some oil in 55-gallon steel drums. (Volumes for these are still given in 42-gallon “barrels.”) The steel drums used in calypso music are made from these 55-gallon containers …” (Slate) Also, the state is outlawing cash, not providing a competitive opportunity for private mints to fill the vacuum. You are certainly correct that some form of physical money will exist but producing it will be challenging.

      • tom hewitt

        Sure, motor oil, transmission fluid and other refined petroleum products are shipped in steel drums but not crude oil. Those Calypso drums were filled with products shipped to the islands from refineries.

        The state outlaws all kinds of things but people insist on following their own course. Prohibitions of the past (alcohol) and the present (marijuana) and probably the future (firearms) attest to this. There’s no reason to believe that a medium of exchange will be any different. Fiat money will survive by its necessity for tax payments but those will be cashless anyway, deducted from the direct deposit accounts of the naifs that remain in the corporate nexus. Put some Morgan dollars aside as starter for your place in the cashless economy.

        • OK, our point was that when the contents become less expensive than the container, you’ve got a problem. Agree that coins will circulate in a cashless economy, as you’ve pointed out. But as stated before it may not be easy or convenient. There is always a price …

          • JR Burke

            Cash’s value is what we deem it to be. Even if the world’s banks eliminate cash, if the average rank and file American still thinks that the Green Back is still valid then it or something like it will still be used. It may be under the radar, but people have an inherent dis-trust of the banking system and the government oversight/ intervention these days. I agree with the assertion that metal coinage will see an upswing as well.

      • Samarami

        The internet was challenging. But it happened. Not that the white man is not anxious to get his grubby fingers on the controls of the web, presuming that is possible. Already the googles of the web have fairly well cowed down to his manipulations.

        I believe liberty is going to happen. And I believe Tom Hewitt in his comment may not be that far off in his assessment.

        It is prudent to welcome the machinations of the psychopaths. The “elites” are pompous and they are clumsy and they are stupid on down the scale. They are ill-equipped to manage the ingenuity of those who suddenly become awakened and who desire to escape the matrix.

        And the Daily Bells of the world are making use of the web to expose to a greater and greater number of ordinary folks how the ruses and the skulduggery of the lunatics are being unfolded.

        Just sayin’. Sam

        • Randy


          I have not yet heard of any “race” that does not have an equal representation of criminals in it. You can find con men and women in virtually any field you may care to name, more in some of them than others, but you will still find them if you only open you eyes far enough to see.
          Everybody is operating off of the false premise that we will always and forever have enough electricity to meet all of our needs. If only that were really the case.
          The elites are NOT necessarily stupid in any way, or they would not be able to attain and maintain the power that they do. However, that being said, their greed and ego factors blind them from the truth, which is that no criminal escapes from the scales of justice for ever. Being blind and being stupid are two different things indeed.

          • Samarami

            My frequent use of “white man” as an epithet for authority types is not racially intended. It is in keeping with the jargon of natives of that land mass they want us to call “the-u.s.” (arrogantly referred to as “Indians”). Those natives used that label derogatorily for the collectivist machinations of those who systematically murdered, cleansed, and amalgamated their “race” into “his” (and, of course, “her”) culture. It is probably inappropriate here, and I’ll stand redressed.

            Electricity is a government sponsored enterprise (“GSE”). Yes, the collectivist “grid”, like fiat “money”, is highly and dangerously vulnerable. Many will suffer appallingly when it fails, as it eventually will.

            I agree that psychopaths are brilliant in their own peculiar way. Democracy, for instance, was a stroke of genius in the science of rulership. . Sam

    • Randy

      Yes, but you need CASH to buy a money order, you can’t use a check or credit card, because if you had those, you could just use it instead! If someone tries to use something other than cash to buy a money order, it immediately sends up red flags all over the place and people want to know WHY!! Is that credit card or personal check really bogus?

      • tom hewitt

        No, you don’t need cash. A federal check is easily cashed into money orders. If the money orders are not signed they’re the same as currency. In fact, there’s millions in postal money orders floating around bush Alaska right now.

        • Randy

          OK, I should have said a PERSONAL check can’t be used to buy a PMO or other such instrument. A federal gov’t issued check could be accepted because no one wants to believe that that check actually has no more substance behind it than a personal one does. For the time being. But as governments go bankrupt, their checks will bounce too, maybe even more so in some cases! It will be a VERY narrow window of opportunity indeed if such occurs.

  • Injun Holbrook

    Going back in time, we were told to turn our aircraft around and head home. We asked the aircraft commander, what was the problem? The response? The computer had broken down and the war was on hold. We are entering a cashless society and our money will be on hold.

  • I can see a desire for making a cartel of dependency on bank tracked and issued ‘money’.
    I’m also aware that the cash economy isn’t really those wayward Greeks and their naughty lazy ways – but the vast black market of cash in drug money – black op financing weapons and large sums of leverage to oil the wheels of otherwise insane agenda that only corrupted officials or key players would willingly promote, support or protect.
    BTW even now a system tech glitch is a new way to delay cash withdrawals without having to own or account for it.

    • tom hewitt

      “the vast black market of cash in drug money” has been accepted as reality for over 40 years now and you couldn’t prove it by me. Nobody has offered me an illegal drug since 1987 and I hang around in some pretty sleazy spots. If some one asked me if there was an illegal drug problem in the US, I’d have to say “Not that I’m aware of.”. As far as I’m concerned the whole issue has been created by the state to take more control over the populace, as has the terrorist threat, global warming, illegal immigration and income inequality.

      • Well, there are many ways to find out if your perceptions and conclusions are true. I don’t feel they are. Corporate cartels are like mafia and ANYTHING that has influence and makes money is sucked into that or becomes part of that unless holding unusual integrity!
        I don’t feel the state is particularly creative, rather it is used as a proxy as in regulatory capture when laws are edited or framed to serve power interests at expense of the well being of the whole. Criminalising drugs is an attempt to direct society/consciousness – but it is also a way where one can shout morality topside while raking it in under the table. That’s a lot of what I see today – split mind. Righteous assertions and shady deals out back.
        Does anyone actually live the morality they righteously demand from – or shout foul at the lack of – in their leaders?

  • Bruce C.

    I’ve been thinking about this subject a lot lately and I’ve come to the conclusion that either the US will not even try to ban cash or if they do it won’t work and they’ll have to back track.

    We shall see how the Spaniards, French and Italian people react to the new cash transaction restrictions but even if they’re so drunk on the kool aid most parts of the world will not accept it and/or it just won’t be workable. That’s especially true for the US dollar in particular because US citizens will not stand for it and most US currency is overseas where cash transactions constitute the majority of all transactions.

    People are already familiar with the bail-in in Cyprus, and they already don’t like banks and know that banks have once again made bad investments that they shouldn’t have (which was the purpose of Glass-Steagal) and they will not be willing to give up their ability to pull money from the banking system if it starts to falter. There’s too much suspicion and lying and corruption that people are aware of – if only just generally – for people to fall for that. Credit the internet for something here.

    Furthermore, people don’t want every transaction they make to be traceable. For one thing, not everyone will have the equipment to process payments electronically and secondly socially/culturally people will insist upon ways to act in secret – for better or worse. At least here in sunny South Florida there are a lot of cash transactions and I don’t see how people are going to willingly give those up, both “buyers” and “sellers”.

    I could go on but I haven’t fully thought this through yet, though I’m fairly confident my conclusion won’t change: “They” won’t be able to eliminate cash, at least not US dollar currency.

    • Randy

      Yes, those proponents of a cashless society will very soon get a nice little surprise from the drug cartels if they continue pushing this agenda. Those dudes are VERY SERIOUS about not only maintaining their turf, but also staying in business in general. You just can’t go and pull the rug out from under those guys without paying a very steep price for your actions. Now I’m not saying that it’s right, just calling the facts out for all to see. Gravity cares not one bit if you don’t like falling, it pulls you down anyway. Taking away a drug dealer’s means of support is going to bring about some unpleasant repercussions too. I’ll bet that every last one of them has a “rainy day account” set up for just such an occasion.

    • Roger Salyer

      A cashless society isn’t going to happen here in the US. It would implode the economy, for starters. An important percentage of economic activity operates in the informal economy and the Christian Evangelicals would scream to heaven on high not to mention all those folks and businesses who happen to like doing cash business without bank fees.

  • Konrad S

    I believe I may have found a hedge against the twin evils of moves towards a cashless society and impending bank bailins. I recently opened a Bitgold account (, essentially a gilt-backed savings account in which currency credits are converted to, and held as grams of gold. It’s more convenient than buying physical gold, although you have an option to withdraw physical gold. Certainly worth bearing in mind if banks start objecting to cash withdrawals.

    • Randy

      Oh PUULLLEEEZE now!! Who the heck are you shilling for here? WHERE is the standard that is being used to “convert” a fiat currency into some electronic bookkeeping entries that are completely out of the control of anybody but the banksters?!?! What the heck do you think you will be able to do with your “digital” gold when the power grids go down? You do understand don’t you, that computers require electricity, and LOTS of it to run, right? Just go out to your fuse or circuit breaker box right now and shut everything off, and then come back to your computer to tell me just how wrong I am here!
      There isn’t enough infrastructure for the Bitgold con job in place to handle even, oh I’d guesstimate 1% of any nation’s transaction requirements. NO system of unjust weights and measures has ever lasted for very long. And the longer they do run, the more spectacular the crash when they do fall through the floorboards!
      Pretty soon now, the hyperinflation of the USD, as well as every other fiat paper currency in the world wide fictitious electronic bookkeeping entry financial system will kick into high gear. And in the blink of an eye, it will all be gone, but not quite yet over. That will take a few more months as the food and fresh water supplies run out faster and faster until they are almost gone.

  • Praetor

    Greed, tyranny, corruption and control go hand-in-hand! Look at a cashless society this way. Possession is 9/10ths of the law, and represents a legal maxim! It means if you have possession you need not take legal action (do nothing) to maintain possession, if you want possession you must take legal action (do something) to gain possession. Federal Reserve Notes, are legal tender for all (‘Debts’ ‘Public’ and ‘Private’). Private being the ones they want to eliminate. Public being the ones they want us to pay for to satisfy the Debts . So, the banks have 100% possession of your money, in a cashless society, how are you going to mount a legal challenge to gain possession of your money, if you have no money. Hmm, what wicked people. I most say, if you’re not preparing for what is coming, you deserve what is coming!!!

  • FreeOregon

    Would it be simpler to have fewer illegal activities? There’s no tax evasion if you have no taxes, and taxes are a barbaric relic of commodity based money. In the age of push button money the only challenge we face is our distrust of government. Using debt to control political cupidity has failed. In theory, if we trusted government we could print money without debt and limit issuance to, say, 3% of GDP. Sadly we know that government lies about the numbers now. Perhaps the answer is to eliminate government and govern ourselves.

  • 2bvictorius

    The master rulers of the power elite are intent upon elimination of at least one billion people on planet earth in a very short span of time and they don’t much care how it happens. Currently they are turning Europe into a Muslim stew by forcing the more civilized nations (the western world) to accept millions of the least productive, most violent and most needy for public subsistence and total dependency on government aid.
    That is a time proven recipe’ for certain rebellion and armed revolution, which will eventually lead to global warfare.
    The real threat to individual wealth, money, and property is the loss of personal liberty and freedom which our current leaders of all political parties in the United States of America and the western world are working at a fever pitch to accomplish. That can only happen with massive civil disobedience and acts of terrorism, and that is why millions of the most violent and Christian hating Muslims in the world are being resettled into the powder kegs of Europe and the United States. Oil is just a chip or pawn in the game , so is the monetary and banking system.