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“Anything But A Cashless Society”: Physical Money Makes Comeback As UK Households Battle Inflation

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The World Economic Forum (WEF) has been pushing hard for a ‘cashless society’ in a post-pandemic world, though physical money has made a comeback in at least one European country as consumers increasingly use notes and coins to help them balance household budgets amid an inflationary storm

Britain’s Post Office released a report Monday that revealed even though the recent accelerated use of cards and digital payments on smartphones, demand for cash surged this summer, according to The Guardian. It said branches handled £801mln in personal cash withdrawals in July, an increase of 8% over June. The yearly change on last month’s figures was up 20% versus the July 2021 figure of £665mln.

Across the Post Office’s 11,500 branches, £3.31bln in cash was deposited and withdrawn in July — a record high for any month dating back over three centuries of operations. 

The report pointed out that increasing physical cash demand was primarily due to more people managing their budgets via notes and coins on a “day-by-day basis.” It said some withdrawals were from vacationers needing cash for “staycations” in the UK. About 600,000 cash payouts totaling £90mln were from people who received power bill support from the government, the Post Office noted. 

Britain is anything but a cashless society,” according to the Post Office’s banking director Martin Kearsley.

“We’re seeing more and more people increasingly reliant on cash as the tried and tested way to manage a budget. Whether that’s for a staycation in the UK or if it’s to help prepare for financial pressures expected in the autumn, cash access in every community is critical,” Kearsley said.

We noted in February 2021, UK’s largest ATM network saw plummeting demand as consumers reduced cash usage. At the time, we asked this question: “How long will the desire for good old-fashioned bank notes last?

… and the answer is not long per the Post Office’s new report as The Guardian explains: “inflation going up and many bills expected to rise further – has led a growing numbers of people to turn once again to cash to help them plan their spending.” 

So much for WEF, central banks, and major corporations pushing for cashless societies worldwide, more importantly, trying to usher in a hyper-centralized CBDC dystopia. With physical cash back in style in the UK, the move towards a cashless society could be a much more challenging task for elites than previously thought. 

This post was originally published at Zero Hedge

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Economy

Videos: Biden Celebrates ‘Inflation Reduction Act’ As Stock Market Tanks Due To Rising Inflation

It doesn’t get more Orwellian than this

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CNN and other news networks broadcast a split screen of Joe Biden ‘celebrating’ the passage of his ‘Inflation Reduction’ Act while the Dow Jones simultaneously tanked to its lowest point for two years on the news that inflation is still at record highs.

Watch:

The Dow Jones fell by over 1,200 points and the S&P 500 fell more than 4% on Tuesday following the August CPI report, which highlighted how inflation rose by 0.1% despite gas prices reducing slightly.

The inflation rate in August was 8.3% according to the report.

The report also found that wages are down 2.8% and energy prices surged 15.8%, the biggest rise in four decades.

Grocery prices are up 13.5% from last year and are at their highest for 43 years.

Some Americans can’t even afford to buy food and are turning to ‘buy now pay later’ desperation:

Yet the White House describes this as “welcome moderation”:

The Press Secretary also claims that the inflation report shows “progress in bringing inflation down.”

Did someone give her the wrong report?

No, she’s just flat out lying again:

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    German Foreign Minister Says Support For Ukraine Will Continue “No Matter What Voters Think”

    War will be prolonged at the expense of her own citizens.

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    Despite soaring energy prices that threaten the stability of the country, Foreign Minister Annalena Baerbock said she would continue to support Ukraine “no matter what German voters think.”

    Baerbock made the remarkable comments during an event in Prague yesterday organized by the NGO Forum 2000.

    “If I give the promise to people in Ukraine – ‘We stand with you, as long as you need us’ – then I want to deliver. No matter what my German voters think, but I want to deliver to the people of Ukraine,” she said.

    The German official said that such an approach would not change even if large numbers of people were out in the streets protesting against crippling energy bills.

    “We are facing now wintertime, when we will be challenged as democratic politicians. People will go in the street and say ‘We cannot pay our energy prices’. And I will say ‘Yes I know, so we help you with social measures.’ But I don’t want to say ‘Ok then we stop the sanctions against Russia.’ We will stand with Ukraine, and this means the sanctions will stay also in wintertime, even if it gets really tough for politicians,” said Baerbock.

    The comment is a fairly stunning admission that world leaders are intent on prolonging the war for as long as possible, no matter how much it harms the countries they are supposed to represent.

    Germans face one of the worst cost of living crises in Europe, with governments arranging ‘warm up spaces’ in major cities where people who can’t pay their bills will go to avoid freezing to death, with blackouts expected.

    Citizens have already exhausted supplies of electric heaters, firewood and stoves in many areas as they prepare for energy rationing this winter, while inflation in Germany just hit its highest level in almost 50 years.

    Those planning to protest against the situation have also been demonized as domestic extremists by the authorities.

    As we reported last month, the interior minister of the German state of North Rhine-Westphalia (NRW), Herbert Reul (CDU), outrageously suggested Germans who may be planning to protest against energy blackouts were “enemies of the state” who want to overthrow the government.

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    Three Quarters of British Pubs Face Closure Due to ‘Current Thing Crisis’

    Unaffordable energy bills could wipe out majority of industry.

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    Three quarters of British pubs face being shut down due to the ‘current thing crisis’.

    Please share this video! https://youtu.be/caI_cqOOn6s

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