Overview of Swiss AmericaSwiss America is a trading corporation that specializes in precious metals, particularly gold coins and bullion, and has been operating since the 1980s. The company has built...
Swiss America, a precious metals company based in the United States, has been at the forefront of discussing and warning about the effects of the "War on Cash" that is currently happening around the world. This war on cash refers to the increasing push towards a cashless society, where all transactions would be conducted electronically and physical currency would become obsolete.
While proponents of a cashless society argue that it would be more convenient and efficient, Swiss America warns that it would also have serious implications for individuals' privacy and financial security. In a cashless society, all financial transactions would be monitored and recorded, leaving individuals vulnerable to government surveillance and potential abuses of power.
Moreover, a cashless society would make it easier for banks and government institutions to control individuals' access to their own money. With no physical cash to hold onto, individuals could be subject to account freezes, seizure of assets, and capital controls during times of economic instability or political turmoil.
The "War on Cash" is already underway in many countries, with limits being placed on cash transactions and the promotion of electronic payment systems. Swiss America argues that it is essential for individuals to have a form of financial protection outside of traditional banking institutions, such as investing in precious metals or storing physical cash in a secure location.
The push towards a cashless society may seem like a benign trend, but Swiss America's warning about the potential consequences of this shift should not be ignored. It is important for individuals to be informed about the "War on Cash" and take steps to protect their financial security and privacy in an increasingly digital world.