Banks’ Secret Meeting To Approach Cashless Future

Martin Armstrong stresses that the birth of a cashless society is coming in much faster than expected.

The Federal Reserve, the ECB, and representatives from the central banks of Sweden and Denmark held a special meeting in London in May that, according to the economist and forecaster Martin Armstrong, may be another confirmation of the banks goal to end cash. This would mean that banks are taking another step to bring the future of full financial control over citizens, when “you cannot buy or sell anything without government approval” closer.

Martin Armstrong has already predicted the Black Monday crash in 1987 and the Russian financial collapse in 1998. Now Armstrong calls attention to this secret meeting in London:

“We better keep one eye open at night for this birth of a cashless society that is coming in much faster than expected. Why the secret meeting? Something does not smell right here.”

Another confirmation of the aim of the meeting in London last month is that one of the speakers was Kenneth Rogoff, who has proposed to stop using cash in order to fight crimes and “preventing people from withdrawing money when interest rates are close to zero.”

Sweden and Denmark are among the fastest going into the cashless society future countries in the world. Last year a study by the KTH Royal Institute of Technology in Stockholm showed that Sweden is becoming a cashless country.

According to Niklas Arvidsson, a researcher in industrial economics and management at KTH, only about 40%-60% of the total amount of Swedish crowns are actually in regular circulation. Most of the citizens prefer to use mobile payments and bank cards. A similar situation could be seen in Denmark.