Australian Banks Refusing To Honor Cash Withdrawals

Australian mainstream media has announced “we have taken a major step towards a cashless society” as major Australian banks refuse to honor cash withdrawals by customers.

The move comes just days following the World Economic Forum announcing that world governments must move towards a cashless and centralized system to track and control how citizens spend their money.

“There are stories abounding today that you can’t get cash from banks anymore,” said Sky News Australia host Peta Credlin who reported that bank branches near her home in central Melbourne are not allowing cash withdrawals to customers.

Sky News Australia senior reporter Caroline Marcus said that the banks are treating people with “absolute disdain” following the reports customers are being refused access to cash.

“They’ve got to remember it isn’t their money,” Said Marcus. “It belongs to the customers. It kind of leaves you feeling that you might be better off stashing your cash under the bed.”

Earlier this week, the World Economic Forum announced that the future is cashless, while extolling the virtues of CBDCs.

Joe Biden is quickly moving forward with plans to do away with physical cash and make sure that Americans cannot own their own money. Australia is the testing ground for many World Economic Forum policies.

Under Biden’s directive, the Federal Reserve and the White House have begun creating a digital currency that is under the control of the central bank. Physical money would then become obsolete thanks to this easily digital currency. This may sound like it belongs in a dystopian science fiction novel, but it is all too real and has the potential to drastically alter American life in the near future.

A broad executive order issued by the Biden administration in March 2022 instructed numerous federal agencies to crack down on digital assets, including well-known cryptocurrencies. The Fed was also instructed to research the potential creation of a central bank digital currency (CBDC) by the order.

Although a CBDC is often termed a “digital dollar,” it would not be a digital version of the existing paper-based dollar. Rather, a CBDC would be an entirely new currency that would exist exclusively in an electronic, non-physical form.

Unlike with decentralized cryptocurrencies, such as Bitcoin, every transaction made using a CBDC would be easily traced to individual users by financial institutions, government agents, and/or the Federal Reserve. Additionally, because a CBDC would be digital and programmable, rules could be imposed that limit spending on approved activities, especially if you were to dissent from the U.S. government.

Since physical cash would be obsolete, people would have no other options to make purchases. In another example, the government could monitor a person’s spending to calculate their “carbon footprint” and then issue directly deducted fines or apply spending caps.