As the sovereign debt crisis is coming, most of the people seem to be completely unaware of the consequences.
While the government's intention to eliminate cash has come into reality, some politicians as Gordon Brown continue to promote the process. However, this time it should be different.
We are running out of other peoples' money, as Margaret Thatcher warned. Karl Marx, who sought to change society by sheer force, set all this in motion.
Government tries to justify in their minds that stripping people of freedom, rights, privileges, and immunities, is necessary to maintain socialism for their sake.
When the governments of the world defaulted on their debts in 1931, there were no pension funds. Government has exempted itself from all prudent reason for you take the state operated pension funds, like Social Security in the USA, where 100% of the money is in government bonds. They may have no intention of defaulting, but very few government have ever paid off their debts in the end.
Then there are states who regulate pension funds requiring more than 80% to be in government bonds. A Sovereign Debt Default this time around will wipe out socialism though. Younger generations do not save to support their parents for that was government's job post-Great Depression. Socialism has altered thousands of years of family structure following the ranting of Karl Marx. Having ruined the social family structure, they disarmed people of what for thousands of years was the very means of self-sufficient survival.
So this time it is substantially different. Government is now on the hook, which is part of the reason why they are moving to eliminate cash to prevent bank runs and to force society to comply with their demands. And people like Gordon Brown, who sold Britain's gold reserves in 1999, claims now that eliminating cash will eliminate the boom and bust of the business cycle. Presuming he can fulfill Marxism by eliminating cash, Brown postulates ideas that are theory without any support whatsoever and believes he has a right to experiment with society.
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Not that long ago, we were invited to a party in Delhi. A lady had just come back from her first time visit to America. She said that Americans are the happiest people