German Bank Raiffeisen Bank, the “Erste Bank”, Puts an End to Cash — One More Reason, If Needed, to Opt for Bitcoin. | by Sylvain Saurel | Nov, 2022

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The dystopian world of mass surveillance is taking shape before our eyes every day.

Illustration by Sylvain Saurel

As a Bitcoin advocate, I often tell you that Bitcoin is and will be your best weapon for the not-so-great future world that the powers that be in the current system are preparing for us. Bitcoin will allow you to use your money as you wish at any time, without risk of confiscation or censorship. This is something that too many people underestimate.

Many think that this mass surveillance society I’m talking about is just a dystopia that won’t happen.

Yet, every week, signals of this future world appear. A few days ago, it was one of the IMF’s eminent members who praised the merits of CBDCs to establish the equivalent of the Chinese social credit system in countries. IMF Deputy Managing Director Bo Li also said that a CBDC would eventually make cash disappear and then better encourage citizens to use their money as society needs it.

To push citizens to act according to the wishes of the leaders, CBDCs will have an expiration date or will be linked to a type of spending. Thus, you will have money but only usable to buy food products for example, or to be used before the end of the year to boost consumption.

In this war against cash, German Bank Raiffeisen Bank, the “Erste Bank”, will no longer allow deposits or withdrawals of cash from December 2022. Cash is still very popular in Germany, but it is clear that the banks are already planning for the future when cash will be gone.

The Raiffeisen Bank will also close in December 2022 the four remaining branches in one of the districts of Frankfurt. The letter sent to customers states that “deposits and withdrawals at the branch (counter and ATM) will no longer be possible in the future.

Larger banks have also closed branches in recent months. Deutsche Bank, Europe’s largest bank, plans to close 200 branches by the end of 2023. Instead of 750, there will be only 550 branches in the whole of Germany. Commerzbank, Germany’s second-largest bank, is also restricting its operations and will close 50 branches in Germany. There will be only 400 branches left in Germany.

The Frankfurter Allgemeine Zeitung newspaper reported in June 2022 that Lars Stoy, in charge of Deutsche Bank’s retail banking operations nationwide, had announced this. He had declared at a conference:

“In the future, I don’t want to offer cash in the branches anymore, because it leads to costs.”

More and more people are indeed making the major mistake of going cashless. They prefer to pay with a Visa card or their smartphone via Apple Pay or Google Pay. Few realize that these bad habits are leading us straight into techno-totalitarianism. Offering our purchase history to GAFAM will be very expensive in the future.

The disappearance of cash that private banks orchestrate will give central banks a perfect excuse to launch their Central Bank Digital Currencies (CBDC). We are talking about currencies that can be conditioned to the goodwill of the powerful people of the current system. Some transactions will be censored, particularly to ration the population and maintain the stability of the usury Ponzi scheme.

Many technological innovations may seem desirable at first glance. Except that technology can easily backfire. One only has to look at Chinese social credit to see this.

China is always pointed at by the West, and rightly so, but the West is not left out. Look at Moscow, for example. After the free riders of the lockdown, then the supporters of the opponent Navalny, the Moscow facial recognition — deployed during the 2018 soccer World Cup — has a new target: conscripts who try to escape military mobilization.

These abuses suggest that all the data collected through our purchase histories will eventually be used against us.

Will all our data end up being used to calculate pensions? Will it close the door to certain universities for your children? Or ban you from hospitals because you drink too much alcohol and eat too many frozen pizzas, as Christine Lagarde would say… The world could turn into a high-tech dystopia as we sacrifice our privacy for the sake of convenience.

In this world of the future that is more than dark, Bitcoin is more than ever a lifeline. The end of cash is one more step toward technological fascism, and Bitcoin will be your best weapon because Bitcoin is censorship-resistant. No one will be able to stop you from using your Bitcoin as you wish.

Your Bitcoin transactions can be done anonymously if you have taken the necessary precautions. So buying Bitcoin in no-KYC mode is something that is increasingly seen as essential to protect you from the dystopian world that the powerful people of the current system want to build.


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