The governments of the world loath paper currencies, almost as much as they hate gold backed currencies. They tell us that paper money enables terrorists, criminal enterprises, and tax evaders, all of which is true to an extent, but it’s not the real reason why they hate cash. They just don’t like the idea of you having any savings that they don’t know about. They don’t want you to have money that they can’t confiscate on a whim.
That’s why the European Union has recently decided to stop producing the 500 euro note by 2018. Though the merits of the bill have been debated for some time, calls to eliminate it grew after the Paris terror attack last November. As usual, terrorist attacks are always the government’s best excuse to limit our freedoms.
This post was published at The Daily Sheeple on MAY 4, 2016.