The worlds banks and governments are rushing to make cash obsolete. Why? There are lots of very good reasons...

1. Elimination of cash and crossover to electronic funds transfer (EFT) will eliminate the black markets in things like drugs and guns. If every transaction is recorded, how are people going to buy drugs or guns without attracting attention?

2. Elimination of cash and crossover to electronic funds transfer (EFT) will eliminate the whole point of muggings and burglary. If people have no money on them, then how can it be taken? How can stolen goods be easily "fenced" or sold?

3. Elimination of cash and crossover to electronic funds transfer (EFT) will eliminate counterfeiting of cash. How can you counterfeit a $100 bill that doesn't even exist?

4. Elimination of cash and crossover to electronic funds transfer (EFT) will eliminate income tax evasion. How can money be put into your account without there being a record of it?

   These reasons actually sound pretty good on the surface. Clearly there are lot's of very good reasons why governments and citizens alike should favor (or fear) the elimination of cash. But why would the banks want to go to all that trouble?

5. Elimination of cash and crossover to electronic funds transfer (EFT) will put a lot of money, in fact ALL of the money, in the control of the world's banks. Using the "fractional reserve system" banks will have more money to loan out and gain interest on. Also, banks will be able to charge some "reasonable" fee for their "services" to you, the cashless consumer.