A piece-by-piece transformation.
THE END OF CHEQUES
Australia is set to be a cheque-less society by the end of the decade, it has been announced.
Treasurer Jim Chalmers recently made the announcement that his government would be moving to phase out cheques by no later than 2030.
“We know that usage of cheques has been declining,” he said.
“This is largely because digital transactions are easier, cheaper and more accessible. In fact, 98 per cent of retail cheques could be serviced through internet or mobile banking.”
What interesting timing. Right in line with Agenda 2030.
But I’m sure that’s all just a ‘coincidence’, right?
The government says that cheques make up only 0.2% of all transactions in Australia, and due to the expensive nature of processing fees, is no longer sustainable in a modern economy.
So, if you are a part of the 0.2% (if we are to believe those figures), your time is ticking. Another step in the rapid 21st century evolution of the banking industry.
This is the latest in a wave of interesting news to recently come out of the banking sector, including reports that show a 23% per cent decline of bank branches and ATMs across the country since 2017.
Banks have also announced they will soon introduce biometric identity checking services as a way to ‘protect customers’ from growing cybercrime and online fraud. Just smile to access your funds!
The world is certainly changing folks, and changing fast.
By the end of the decade, we will be lucky if cheques are the only thing that has been scrapped in favour of new system to ‘meet modern demands and trends’.
The plan is to transform almost everything we know about the current financial game.
The end goal is not just for cheques to be eliminated, but also any other form of non-digital payments (including cash), as part of the greater shift towards a cashless society here in Australia.
And not just that: For the digital systems that do remain, central bank digital currencies (CBDCs) will become the new normality for all, with the RBA already launching pilot programs alongside banks.
Tracked and traced with no room to spend your money without somebody else knowing what you are spending, and where you are spending it. All underpinned by biometric technology for your identiy.
This is the future that these people want, and cheques are just an incremental stage of this shift.
They have already tried to ban cash payments of over $10,000 back in 2019-2020, but thankfully this was defeated after massive backlash from public submissions at the time.
This is already the mentality of our ‘representatives’ that are making these decisions, and no doubt, as this plan continues to manifest over the decade, they will try for this again as they move to cash next.
It’s time Australians stop submitting to this plan for a digital prison and start using cash again, or even start using cheques again just to show them that restricting these things is not on.
Because once this type of system is fully implemented, it will be hard to escape its grip.
Make some noise, Aussies! Before it is too late!
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