Bank of America CEO: ‘We Want a Cashless Society’
Bank of America CEO Brian Moynihan embraced the digital cashless movement on Wednesday, saying his firm has “more to gain than anybody” from eliminating cash from society.
“We want a cashless society,” Moynihan, who heads up the second largest U.S. bank, told attendees at Fortune’s Brainstorm Finance conference.
He pointed out that more than half of all money transactions are already processed electronically, with the rise of cryptocurrencies, and payment systems like PayPal, Zelle, and digital wallets.
The global elite and banking lobby want a digital cashless system because this will give them even more control over us. Global bankers want to monitor and control every single transaction, while destroying real world currencies so they can issue money that doesn’t exist, creating impossible financial burdens for the masses, all the while accumulating extraordinary real wealth and power for themselves.
Populations relying on a fully digital cashless grid will be incredibly vulnerable in times of crisis. A terrorist or military attack, or even a storm or power outage, would mean the end of a functional economy. Payments would stop, the economy would grind to a halt, and life as we know it would end.
A new, desperate climate would take hold, with entire populations left vulnerable and helpless, completely under the control of their government and the shadowy elites pulling the strings.
Why would Western governments ban cash when there are such disastrous consequences for humanity waiting just around the corner?
Because the shadowy elites and their banking cartels want us to be easily manipulated, cowed and controlled.
Businesses, and even entire countries like Sweden, have already jumped on the movement to end the era of cash, disrupting the hard currency that has underpinned modern economies.
Yahoo report: Non-cash transactions are forecast to grow by a compounded annualized growth rate of 12.7% through 2021, according to a 2018 study produced by BNP Paribas and Capgemini. Those vast volumes put financial intermediaries in a prime position to benefit from processing those transactions.
The banking sector has “already digitized,” Moynihan said on Wednesday. “The business has moved digitally and it will continue to move that way. It’s just figuring out how to add the value.”
Baxter Dmitry
Email: [email protected]
Follow: @baxter_dmitry
https://newspunch.com/bank-america-ceo-cashless-society/