"The Danish Proposal", according to The Telegraph, "sounds innocuous enough on the surface--it would simply allow shops to refuse payments in cash and insist that customers use contactless debit cards or some other means of electronic payment."
The goal? Theoretically, to ease "administrative and financial burdens."
No big deal, right?
Don't tell that to Norwegian academic Trond Andresen. In an article for real-world economics review, Andresen has developed the Modern Monetary Theory (MMT), a concept for going completely cashless worldwide.
Andresen's paper suggests:
- abolishing all physical currencies
- abolishing all "normal" bank accounts
- using only electronic "money"
- allowing for only government-controlled banking
Far-fetched? Not according to Andresen's Modern Monetary Theory:
"In a recession or even depression-like situation--the case in most countries today--the attraction of MMT is obvious: since a government with own-issued currency is not financially constrained, such a crisis can be remedied by running arbitrarily high fiscal deficits as long as needed, i.e. spending extra money into the economy to employ people and buy goods and services. A government issuing its own currency can always employ all the unemployed."In other words, the sky's the limit.
MMT also allows:
- control over inflation/deflation
- redistribution of wealth
- elimination of tax evasion
- theft and many other crimes
- an end to the "boom & bust" cycles
"In a depressive situation people will gratefully accept this," predicts Andresen.
And he's probably right. His Modern Monetary Theory has gotten the attention of global leaders desperate to solve financial woes that have become epic.
Debt-riddled Greece, Puerto Rico, Italy, (all on the verge of default), are only the tip of the iceberg. Asian, European and U.S. debt are at historic highs.
According to the Financial Stability Board, the entire world financial system is in deep, deep trouble.
And guess what gang? That's exactly what we should expect if we are living in the end-times.
A wise man once said: "We need to take care that we do not become lax in our thinking--God has set a day which will mark the end of this world as we know it. This should prompt us to encourage others to repent and believe in Christ."--Len Woods, Th.M.
"Just so, when you see the events I've described beginning to happen, you can know His return is very near, right at the door." Matthew 24:33News:
- Newsweek: Healthy 24-Year-Old Granted Right to Die in Belgium; euthanasia increasingly popular among young people citing depression. Only those 12-years or older qualify.
- Fox News Channel: Oklahoma Supreme Court orders 10 Commandments removed from State Capitol.
- CBS News: Feds warn of potential July 4th terror attacks targeting law enforcement.