{"id":20664,"date":"2020-09-29T10:58:05","date_gmt":"2020-09-29T08:58:05","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=20664"},"modified":"2020-09-29T10:58:05","modified_gmt":"2020-09-29T08:58:05","slug":"smile-youre-being-watched","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/cash-en\/smile-youre-being-watched","title":{"rendered":"Smile, you\u2019re being watched"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" data-attachment-id=\"20658\" data-permalink=\"https:\/\/michelsanti.fr\/en\/cash-en\/smile-youre-being-watched\/attachment\/big-brother-2\" data-orig-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/Big-Brother.png?fit=465%2C337&amp;ssl=1\" data-orig-size=\"465,337\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Big-Brother\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/Big-Brother.png?fit=300%2C217&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/Big-Brother.png?fit=465%2C337&amp;ssl=1\" class=\"alignnone size-medium wp-image-20658\" src=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/Big-Brother.png?resize=300%2C217&#038;ssl=1\" alt=\"\" width=\"300\" height=\"217\" srcset=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/Big-Brother.png?resize=300%2C217&amp;ssl=1 300w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/Big-Brother.png?w=465&amp;ssl=1 465w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>My readers know that I am an advocate of the phasing out of cash, for macroeconomic reasons outlined across several <a href=\"https:\/\/michelsanti.fr\/en\/central-banks\/the-preordained-disappearance-of-cash\">articles<\/a> and books. To summarise, negative rates \u2013 that we will inevitably see \u2013 will only be effective if cash is eradicated, because a world without cash would also be a world without recession. I have met and discussed with a sizeable number of opponents \u2013 sometimes detractors \u2013 who claimed that the abolition of fiduciary money would spell the end of their liberty and the beginning of a new era where ourselves and our expenses would be tracked by the government.<!--more--><\/p>\n<p>These wild, even fanatic, subscribers to and supporters of cash seem to ignore the fact that banknotes are never really anonymous since they are all marked with a serial number.It indeed goes without saying that, in our current world, it would be quite simple in technological terms to register the serial numbers of banknotes withdrawn by users at cash machines. What\u2019s more is that the authorities didn\u2019t wait until this technological era of ours to make us of the information printed on these banknotes.<em><\/p>\n<p><\/em>Let\u2019s look back to the Watergate scandal that saw five thieves find their way into the eponymous building that at the time housed the general headquarters of the Democratic Party in Washington, on 17 June 1972. Although they were caught by the police, no one knew their motives until a sum of $3,600 that was found on them served as the vital clue that led to their commanders. These banknotes had serial numbers and sequences on them that \u2013 by dint of police requisitions made at official bodies and local Federal Reserves \u2013 led to the conclusion, just three days after the break-in at the Democratic Party premises, that these banknotes had been credited a few months before into accounts with Girard Bank &amp; Philadelphia Trust and the Republic National Bank of Miami. Because these banknotes had been deposited into these respective accounts by the \u201cCommittee for the Re-election of the President\u201d, the link with Nixon\u2019s teams and with the President himself was therefore very easily drawn\u2026<\/p>\n<p><em><br \/>\n<\/em>But let\u2019s now go even further back in time to prove to the zealots of cash that they\u2019ve never been able to hide behind cash, or behind any other equity meant to be anonymous. In 1932 the son of Charles Lindbergh was freed by his abductors after a ransom was paid in the form of anonymous notes that were exchangeable with a certain amount of gold. It was a grimirony for the kidnappers because the gold standard was abandoned in the US in 1933. Not long after, a petrol station owner alerted the authorities when one of these gold-indexed notes reappeared in 1934 as payment for a full tank!<em><\/p>\n<p><\/em>In our contemporary world, a certain number of authoritarian regimes \u2013 that we once, more realistically, called dictatorships \u2013 are hunting down pro-democracy and pro-human rights movements thanks to the tracking of cash. Under the guise of combatting counterfeit money, the serial numbers of banknotes distributed by machines or over bank counters allow the authorities to track activists, and more importantly, those who fund them.<em><\/p>\n<p><\/em>In summary, may the delinquents, those obsessed with anonymity and the libertarians find other hills to die on, because one way or another \u2013 with or without cash \u2013 our lives, our consumption habits and our movements are all documented. Admittedly, the health crisis <a href=\"https:\/\/michelsanti.fr\/en\/cash-en\/the-other-major-consequence-of-the-coronavirus\">caused an irrational run on cash<\/a> in the spring of this year, but the take-off, or perhaps the invasion, of digitalisation that has now become omnipotent and omnipresent will lead to yet more phasing out of banknotes, until they become a mere relic of the past.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>My readers know that I am an advocate of the phasing out of cash, for macroeconomic reasons outlined across several articles and books. To summarise, negative rates \u2013 that we will inevitably see \u2013 will only be effective if cash is eradicated, because a world without cash would also be a world without recession. I&hellip;<\/p>\n","protected":false},"author":4,"featured_media":20658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[648941257],"tags":[],"class_list":["post-20664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cash-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Smile, you\u2019re being watched - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/cash-en\/smile-youre-being-watched\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Smile, you\u2019re being watched - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"My readers know that I am an advocate of the phasing out of cash, for macroeconomic reasons outlined across several articles and books. To summarise, negative rates \u2013 that we will inevitably see \u2013 will only be effective if cash is eradicated, because a world without cash would also be a world without recession. 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This is why China now feels that it is strong enough to take on a hitherto impregnable and unchallenged stronghold, that being\u2026","rel":"","context":"In &quot;Cash&quot;","block_context":{"text":"Cash","link":"https:\/\/michelsanti.fr\/en\/category\/cash-en"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/05\/mao-zedong.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/05\/mao-zedong.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/05\/mao-zedong.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/05\/mao-zedong.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/05\/mao-zedong.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":13589,"url":"https:\/\/michelsanti.fr\/en\/swiss-franc\/negative-rates-no-a-revolution-in-attitudes","url_meta":{"origin":20664,"position":1},"title":"Negative rates? No, a revolution in attitudes!","author":"Michel Santi","date":"April 24, 2015","format":false,"excerpt":"How should we live in a world where interest rates are negative? It is a genuine paradigm shift that tells us to prepare for global deflation. While the U.S. will be spared, our Europe is sinking into economic stagnation, an ice age likely to be secular in nature. Switzerland and\u2026","rel":"","context":"In &quot;Negative rate&quot;","block_context":{"text":"Negative rate","link":"https:\/\/michelsanti.fr\/en\/category\/negative-rate"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/1000-francs-suisses.jpg?fit=640%2C427&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/1000-francs-suisses.jpg?fit=640%2C427&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/1000-francs-suisses.jpg?fit=640%2C427&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":20231,"url":"https:\/\/michelsanti.fr\/en\/cash-en\/the-death-of-money-as-you-once-knew-it","url_meta":{"origin":20664,"position":2},"title":"The death of money, as you once knew it","author":"Michel Santi","date":"April 21, 2020","format":false,"excerpt":"\u00a0 I\u2019ve been saying it for years: the use of cash is on its way out and the Coronavirus will be the final nail in its coffin. There\u2019s no point in fighting against an inevitable phenomenon because the use of banknotes will more or less have disappeared from our intertwined\u2026","rel":"","context":"In &quot;Cash&quot;","block_context":{"text":"Cash","link":"https:\/\/michelsanti.fr\/en\/category\/cash-en"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/04\/argent-digital.jpg?fit=1122%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/04\/argent-digital.jpg?fit=1122%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/04\/argent-digital.jpg?fit=1122%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/04\/argent-digital.jpg?fit=1122%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/04\/argent-digital.jpg?fit=1122%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":21239,"url":"https:\/\/michelsanti.fr\/en\/cash-en\/the-banks-wont-be-opening-on-monday","url_meta":{"origin":20664,"position":3},"title":"The banks won\u2019t be opening on Monday","author":"Michel Santi","date":"February 18, 2021","format":false,"excerpt":"Let us make no mistake: the massive economic imbalances and inequalities are not an anomaly but well and try integral to the system itself. Capital has of course always garnered more power than work, but this phenomenon is now reaching quite terrifying levels. It only needed a virus to destabilise\u2026","rel":"","context":"In &quot;Cash&quot;","block_context":{"text":"Cash","link":"https:\/\/michelsanti.fr\/en\/category\/cash-en"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/02\/25c58678130d779fa825941d679e465d-1.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/02\/25c58678130d779fa825941d679e465d-1.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/02\/25c58678130d779fa825941d679e465d-1.jpeg?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/02\/25c58678130d779fa825941d679e465d-1.jpeg?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/02\/25c58678130d779fa825941d679e465d-1.jpeg?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":20433,"url":"https:\/\/michelsanti.fr\/en\/cash-en\/the-other-major-consequence-of-the-coronavirus","url_meta":{"origin":20664,"position":4},"title":"The other major consequence of the Coronavirus!","author":"Michel Santi","date":"July 28, 2020","format":false,"excerpt":"\u00a0 \u00a0 Covid-19 has caused a run on cash, at least from the moment that the fears started to grip our Western societies. Intuitively, it is however the opposite of what we might have imagined. Weren\u2019t there fears \u2013 albeit justified \u2013 that the illness could be transmitted by certain\u2026","rel":"","context":"In &quot;Cash&quot;","block_context":{"text":"Cash","link":"https:\/\/michelsanti.fr\/en\/category\/cash-en"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/07\/Lautre-cons%C3%A9quence-majeure-du-coronavirus-t%C3%A9l%C3%A9phone.jpg?fit=399%2C300&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":20279,"url":"https:\/\/michelsanti.fr\/en\/coronavirus-2\/this-might-not-be-a-crisis","url_meta":{"origin":20664,"position":5},"title":"This might not be a crisis!","author":"Michel Santi","date":"May 9, 2020","format":false,"excerpt":"\u00a0 The comparison between the Covid-19-stamped economic crisis and the 2007-2008 crisis is fascinating. Do you remember: at the time, the real economy was suffering the direct consequences of an overindebted banking system that made heavy use of leverage. Faced with this existential threat, the response was rather classic, in\u2026","rel":"","context":"In &quot;coronavirus&quot;","block_context":{"text":"coronavirus","link":"https:\/\/michelsanti.fr\/en\/category\/coronavirus-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/05\/bad-bank.jpg?fit=500%2C361&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/20664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=20664"}],"version-history":[{"count":2,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/20664\/revisions"}],"predecessor-version":[{"id":20666,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/20664\/revisions\/20666"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/20658"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=20664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=20664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=20664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}