There has been warnings for years of the banks moving away from cash to an electronic financial system. In the latest move in Ireland, the National Irish Bank will no longer handle cheques. It announced in 2010 that it wasn’t going to handle cash.

Asked how a customer who needed €5,000 in cash would get it, a spokesman for the bank said that a branch could issue a bank draft if the money was needed urgently. This could be taken to a post office and cashed there.

We have already seen capital controls on Italy with plans to limit withdrawals to €300.  Greece too announced in 2010 that it would limit cash transactions to a max €1500. These are not large amounts.

It’s a disturbing (1984) move which looks to be started with the PIIG nations first. Lets face it, their citizens  have more things to worry about right now. The trend looks to be moving toward an electronic system controlled by the banks of course. More control by the banking system never ends well.

😦

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