In this video, I talk with author and economic analyst John Sneisen @TheEconomicTruth about the recent money laundering controversy out of Denmark as CEO of Danske Bank Thomas F. Borgen resigns (with abundant pay). Most notably is the excuses made following this scandal.
Denmark now wishes to ban the 500 Euro note as some form of risk mitigator. Of course that's just a bad excuse, as we've seen in countless other countries where governments wait with baited breath for a controversy to elapse in order to eliminate cash in circulation as we see a steady march towards a centrally planned cashless society take place on a global scale.
A parliamentary majority is ready to push this proposal through, ending a person's ability to make payments with 500 Euro notes.
So basically their reasoning is that people might avoid getting their money stolen by the government and that people may fund certain groups the government knows a thing or two about funding... This is all in order to push forward the incremental frog boil of the cashless society world wide. Less cash, less privacy.
The state would love the ability to shut down payments like China's social credit system. They would love to mitigate runs on the bank. They would love to succeed in bail-ins. The opportunities are endless for the state and banking system in a centrally planned, legal tender cashless society, but the masses will likely not enjoy their vast dependency after tried and true.
Individuals must decentralize and break free from this clear script playing out in front of our eyes. This will not end well if people do not prepare well.
