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.
