In this video, I talk with author and economic analyst John Sneisen about India's cashless system once again. However, this time around, the Aadhar system which uses everything from retina scans to chip in order to scan payments rather than use cash has been breached!
According to several sources including Tech Crunch, Buzzfeed and Wikileaks, the Aadhaar database which holds information on nearly everyone in the second most populated country in the world can be accessible for just $10 USD.
An anonymous person simply gained the ability to get into the extensive database through exchanging 6000 Rupees (or $95 USD) over the WhatsApp anonymous application.
Now, on top of this it appears that the CIA have gained access to Aadhar which is hardly surprising, as the issue is brought up in India's parliament.
This simply goes to show what we at WAM have been warning about for so long. First the dollar crashes and out of desperation the central banking system pulls us all under the global centrally planned cashless system, first testing it out in highly populated countries. If your money's in the bank, it's not yours, it's the bank's and if your money's ALWAYS going through the banks via digital transactions, it's never your money, it's always the bank's and you are in perfect servitude to the banking system and government!
The government can therefor spy on your every action and ensure that you are paying your "fair share" of extortion.
They need to make sure they squeeze every penny out of you.
Then they implement the long spoken of bail-in regimes which means your (their) money can simply be taken out of your account and with new attempts to abolish the vast sum of your depositor's insurance, there will be no getting the money back. It's not like you can do a run on the bank in a cashless system.
And then they have you exactly where they've wanted you all along. In vast amounts of debt. Extorted. Watched with every transaction. Tracked. How's that for a bad end to a bad story?
This is why individuals need to stand up to this. It comes under the guise of "helping." Just like it was seen as Prime Minister Modi lending a helping hand to the impoverished by giving them free bank accounts only 100 days after he had entered office. It was an agenda all along and it's leading to this technocratic end.
So one must be self sustainable. Stand up for their beliefs. Be responsible for their finances. Diversify. Gold, silver, decentralized cashless cryptocurrencies which differs GREATLY from centrally planned legal tender cashless.
Of course this is our opinion and is not meant as financial advice. One must do their own due dilligence. That's part of the responsibility factor that's so important.
It's better to be over prepared than under prepared.
