The IMF ( International Monetary Fund)
18 steps to becoming cashless a Long term Plan for slavery
Official full publication: https://www.imf.org/external/pubs/ft/wp/2015/wp15224.pdf
An implementation of the transition from paper standard to electronic money could take the following steps:
Announce technical feasibility of eliminating the zero lower bound.
Strengthen macro-prudential regulation by raising equity requirements substantially above those prescribed by Basel III.
Ask banks and other financial firms to make contingency plans for negative interest rates.
Develop accounting standards for negative interest rates that take electronic money as the unit of account, and give to paper money the value of its worth in the market relative to electronic money.
Ask government agencies to prepare contingency plans for negative interest rates and non-par valuation of paper money.
Make it clear no one has the right to pay off large debts to the government in contexts where transactions are now routinely conducted with bank money.
Establish by law that debtors do not have the right to pay off large debts with paper currency at par when the market value of paper currency is below par.
Formally make money in central-bank certified bank accounts legal tender.
Announce the intent to introduce an electronic money system.
Lower the central bank’s interest rate on reserves to zero or slightly below zero.
Lower the central bank’s target interest rate, interest rate on reserves, and the central bank’s lending rate substantially below zero.
If there is any sign of large increases in paper currency withdrawal, institute a time-varying deposit charge (levied on net deposits) when banks deposit paper currency with the central bank in exchange for reserves.
Discount vault cash applied to reserve requirements by the factor of (1-deposit charge).
Implement the accounting standards appropriate for negative interest rates and non-par valuation of paper currency.
Require payment of taxes and other substantial debts to the government in electronic form.
Implement the contingency plans for government agencies.
Ask all firms to post prices in terms of electronic money.
Make it clear that firms are allowed to specify in contracts (including loan contracts) and in retail sale the terms under which they will accept paper currency.
