Major Australian Banks Phase Out Cash in Preparation for ‘Cashless Societies’

Several major Australian banks are phasing out the use of physical cash as they prepare for the coming “cashless societies.”

The move is seen by many as preparation for the rollout of Central Bank Digital Currencies (CBDCs).

The global rollout of CBDCs will usher in technocratic authoritarianism in the form of “cashless societies,” where all privacy in trade is lost and banks and governments will control access to all of your money.

Over the past year, the Australian government and central bank have been involved in a beta test for a world with no physical cash.

Their partnership projects with the Bank for International Settlements and pilot programs with companies like Mastercard are about to wrap up this fall.

Once the trial run is complete, Australian bureaucrats are planning to rapidly implement their cashless system.

In defense of CBDCs, officials suggest that Australians are already shifting into a cashless society.

They cite the fact that the population went from 32% using cash to just 16% in the span of three years.

What they fail to mention, however, is that Australia’s aggressive and draconian Covid lockdowns and mandates since 2020 pushed the public into relying more on digital and online purchases.

In preparation for the shift to cashless societies, the top four banks in the country are removing over-the-counter cash withdrawals at most of their branches.

“Special centers” will be put in place for “more complex banking needs including cash.”

But the overall trend will be the reduction of paper money to zero, forcing the public to go fully digital.

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The use of CBDCs by governments and unelected bureaucratic organizations to control the flow of money is tied directly to social engineering programs.

Members of the World Economic Forum (WEF) have been openly gloating about the “benefits” of CBDCs, as Slay News has reported.

During the WEF’s recent Annual Meeting of the New Champions in Communist China, Tolani Senior Professor of Trade Policy at Cornell University Eswar Prasad gave a chilling insight into the rationale behind the globalist elite’s interest in pushing toward a cashless society.

Prasad spoke about the coming Central Bank Digital Currencies (CBDCs) and how unelected authoritarians will be able to control the public by managing the regulation of society’s spending.

According to Prasad, a top economics expert and former International Monetary Fund (IMF) official, the coming CBDC-only cashless society will be regulated to ensure that people comply with what is considered to be “desirable.”

Prasad spoke at the gathering, also known as “Summer Davos,” bluntly stating the “benefits of digital money” include the “programmability” of citizens.

For example, the government could control what products citizens are allowed to purchase with digital currencies.

He gloated that people will be blocked from buying “less desirable” items such as “ammunition.”

Prasad said, “The government decides that units of central bank money can be used to purchase some things but not other things that it deems less desirable like say, ammunition or drugs or pornography or things of the sort.”


But the micromanagement goes well beyond this.

There is also the issue of social credit scoring, which has been established in Communist China and is creeping into Western institutions.

It makes sense that Australia would be one of the first Western nations to adopt the cashless structure.

The government was rather successful in enforcing extreme covid lockdowns with minimal public resistance, to the point that citizens in cities were under house arrest and were not even allowed to go to the parks or beaches in many cases.

It’s likely that the establishment sees Australians as an easy target for the first volley of cashless controls.

READ MORE – WEF: ‘Digital Cash’ Will Force Climate Agenda onto Public

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By Frank Bergman

Frank Bergman is a political/economic journalist living on the east coast. Aside from news reporting, Bergman also conducts interviews with researchers and material experts and investigates influential individuals and organizations in the sociopolitical world.

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