The End of Cash | The End of “The Hardest Part”

In the song “The Hardest Part” Blondie sings

Twenty five tons of hardened steel rolls on no ordinary wheel
Inside the armored car ride two big armed guards
In a bullet-proof vest, shatterproof glass, overdrive, we’re gonna pass
Twenty five tons of hardened steel rolls on no ordinary wheel
The hardest part of the armoured guard
Big man of steel behind the steering wheel

But like so many great movies of the past whose storylines would now make no sense due to cell phones, this song may well become an oddity that our children fail to understand.

To paraphrase Willie Sutton “Banks aren’t where the money is.”

The digitizing of everything has reached currency and will continue to impact not just the financial realm, but soon the icons of currency distribution networks – banks, armored cars, ATM, etc. Bank Tellers, currency printing, and “big men of steel behind the steering wheel” will all be a thing of the past.

Never happen – while Sweden, the first European country to introduce bank notes in 1661, is now pushing to get rid of them. Sweden has already reduced notes and coins to just 3% of their economy (vs. 9% for the EU and 7% in the US).

As a result of banks not being where the money is, bank robberies are down 85% in the past 3 years. What good is grabbing someone’s purse or wallet, if there is nothing in it that can be used?

Are you ready for the cashless society?

Comments are closed.