How cash is becoming a thing of the past | DW Documentary (Banking documentary)

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  • Published on:  Wednesday, November 21, 2018
  • Cashless payments are on the rise. They are fast, easy and convenient. Worldwide, cashless transactions have become the norm.

    But Germany’s central bank and government are still clinging on to cash. Can they stop the move towards a cashless society? Our documentary shows who is behind the worldwide anti-cash lobby. Banks want to get rid of coins and bills for cost reasons, and politicians think less cash will cut the rug out from under criminals and terrorists. Central bankers want to abolish cash because it would make it easier for them to enforce negative interest rates. And digital payment companies like Paypal or Visa simply want to profit from money transactions and collect as much financial data about consumers as they can. Their aim is to gain complete control over our buying behavior. For example, the "Better than Cash Alliance" in New York is supported by financial corporations such as Visa or Mastercard. They say the more people that are integrated into the international financial system, the more growth and jobs it will promote. But as our financial behavior becomes more and more transparent, states are also using payment data to find out more about us. The ordinary citizen’s view of cash as a store of value, independent of third party interests, is being increasingly ignored. But for them, cash is and will remain a symbol of freedom.
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  • Source: https://youtu.be/GbECT1J9bXg

Comment

  • Jay A M

    Jay A M

     6 hours ago

    People with spare cash should buy gold or other movable physical assets. The government has the capacity to take all your money in the bank or stop access to it.

  • Dave Roberts

    Dave Roberts

     16 hours ago

    why do think Fema
    camps are being built all over the us.>>??

  • Chris Ackerley

    Chris Ackerley

     yesterday

    First there was barter. As populations increased, someone came up with the idea of money. Hard money. Gold and silver. Time passed, and paper money came into use. True credit cards were available, but they were cumbersome. Remember those paper booklets listing bad card numbers that merchants used to receive every week? Then came the computer. The pace of monetary change increased. ATM's appeared in 1977 and, before long, debit cards came into universal use. Now we have such fun choices as Apple Pay and Vemmo. What's next? I don't know, but I do suspect government wants a mandatory digital money system because through such a system, we can more easily be controlled. Digital money can be precisely tracked, and it can be turned off. Want to control that pesky dissident? Turn off his bank account! If you think I'm a paranoid nut case, I suggest you take a hard look at the fast-developing Chinese social credit system. The bottom line is that, while digital money may be a viable option for those who choose to use it, such money should be just that. An option.

  • Marco Sodano

    Marco Sodano

     yesterday

    If there was no cash in the future, how will our kids know what does money mean? They wouldn't know the meaning of money and that will cause huge problems

  • mrprosale

    mrprosale

     yesterday

    Once I wanted to buy an air fare in Australia from Melbourne to Sydney, they did not accept my card that Saturday evening because I was from New Zealand and the bank thought someone uses my card in Australia... so I had to catch a TRAIN , because I had enough CASH for that, as it cost a little less... took me 9 hours, so now I always have a ton of cash when I travel!

  • E. G.

    E. G.

     yesterday

    Take something from them.

  • Carmen M.

    Carmen M.

     yesterday

    23:20-28:35 is frightening! Imagine waking up one morning and finding that most of the cash you have is now useless! It happened in India, and it could certainly happen anywhere else!

  • sfbluestar

    sfbluestar

     yesterday

    Whatever you say. If anyone doesn't want their cash, I can take it off their hands.

  • g f

    g f

     yesterday

    So you can't pay in cash! That's ok I just steal my food and fuel.

  • Gakhiro Yhotano

    Gakhiro Yhotano

     yesterday

    and how will i by my weed then ?????.....

  • Al Martinez

    Al Martinez

     2 days ago

    no electricity= you cannot use your card..........

  • Scooby Skullx

    Scooby Skullx

     2 days ago

    CIA loves cash , so does it's recipients 😍

  • John King

    John King

     2 days ago +2

    Sweden has gone cashless and they pay a fee everytime they use their card or phone to make a payment so that means you will be paying more for the product you are buying and also the banks love it because they will be making more on your transactions and getting even bigger, so that means we lose our ability to choose how we use our money and also give them right to track us and know what our buying habits are and where we travel and many more other things that are private in the most part to us alone. Some people say well if you are not doing anything wrong what the fuss, but the fuss is we don't have any privacy anymore and losing more and more of it because we submit to their one world cashless society, which many of us don't want to be a part of in reality because it doesn't benefit us only the banks benefits from the whole deal, and it also leads to job loss where it is implemented because the need of a cashier or someone to accept payment is not needed, we have this online right now but to make it also part of our society would be very bad for people looking for a job.

  • the eye in the sky

    the eye in the sky

     2 days ago

    It's funny how they play the reggae music to ease the pain or better said the discomfort, indignation and frustration of some people

  • Sarah Floyd

    Sarah Floyd

     3 days ago

    13:20 I think the machine wasn't accepting the dollar because generally you insert the dollar face up. But that's just my take lol.

  • bilL hopkins

    bilL hopkins

     3 days ago

    what could possibly go wrong???

  • Sean Pond

    Sean Pond

     3 days ago

    How could you possibly put this together without featuring crypto? What kind of moronic blind eye are you turning? Buy Bitcoin.

  • Jaime Orozco

    Jaime Orozco

     3 days ago

    Means humans are becoming slaves.

  • Jaime Orozco

    Jaime Orozco

     3 days ago

    Heading Stright to a new world order.

  • Elisabeth Steel

    Elisabeth Steel

     4 days ago

    The problem is if there is an electrical shutdown you cannot get to pay with card, because no machine would work! But if you have cash you can pay for what you need! And also in time of war the government has complete control over your money! And you have none, this is what is going on right now in country like, Lybia, Syria, and Lebanon!