Brett Scott: Beware a cashless society

UnHerd’s Flo Read mets Brett Scott, author of Cloud Money.

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00:00 – 00:42 – Introduction
00:42 – 01:51 – Brett Scott explains the meaning of a cashless society
01:51 – 05:45 – Has the pandemic accelerated the drive towards a cashless society?
05:45 – 11:39 – Do businesses win or lose from a society without cash?
11:39 – 16:48 – What other motivations are there for a cashless society?
16:48 – 23:14 – What data can banks access when we pay electronically?
23:14 – 27:18 – Could a cashless society enable an authoritarian social credit system?
27:18 – 34:42 – Could crypto be the antidote to a world of digital cash?
34:42 – 36:54 – Brett Scott explains how we can fight back against a cashless society
36:54 – 37:15 – Concluding thoughts

#UnHerd #BrettScott #CashlessSociety

Written by UnHerd


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  1. The Governments have stuffed their debt into banks as reserves and into Pensions, retirement accounts and insurance companies, annuities, and they are pivoting to default on that debt and replace it with a Government printed Digital Currency and they will not allow any competition to their digital currency, and just like they did in 1933 when they confiscated and made gold illegal domestically in the US until 1971, they will confiscate and make illegal all crypto currencies.

  2. The question of 'conspiracy' is particular to those who pose the question. We might say it's the 'laptop class' who trust implicitly in technology and have good faith that government will look after it's citizens. For them it's ok that market forces hold reign on societal evolution, and for them to speak of conspiracy is just nonsense.

    On the other hand talk to the man who scratches a living from the dirt – the farmer who sees the value of his labour diminish year on year; or any one who's income is tied directly to raw goods and labour. For these, the verity of global giants acting in concert doesn't need a sombre cabal whispering in a soundproof basement – to recognise how the intent of the billionaire class plays out in favour of their enrichment and global inequity. The inevitable consequences of well heeled investors and commodity traders who collectively energise market forces – is to depress small time entrepreneurs and shut down high street shops; for the working class, use of the word conspiracy is simply an act of rhetoric – what does it change – whether we use it or not ??

  3. The bank knows I used my credit card at the grocery store, at home depot, at Amazon, but they do not know what I spent my money on. With a digital currency, every detail would be available to the government and they will be able to program their money to tax all carbon at the point of sale instantly.

  4. It's the Governments that are conspiratorial with the corporations who just see another income revenue and data stream for business. The Governments are the ones pushing and implementing a cashless society so they can tax every dollar at the Point of Sale for ever carbon footprint dollar they can squeeze out of you.

  5. What society will look like? how about reengineered new man. "social media" is a euphanism for social engineering. This can all be attributed to Marxism 2.0 People such as Bezos are not tech engineers but social engineers.

  6. The Government confiscated and then made gold illegal for domestic use in 1933 effectively defaulting on the liberty bond domestically. When the Governments default on their debts and pivot to a government printed and controlled digital currency, they will do the same thing to existing crypto's, they will confiscate them and make their use illegal.

  7. The banking sector has been destabilized by the Government Debt they must hold by Government mandate as Reserves. When the Governments default on that debt, no doubt the majority will go under and the tech companies will be so happy to pick up that slack.

  8. “Cashless” means people will be controlled by centralized planners who will decide what you can and cannot purchase and when . They will do this in the name of whatever they decide is for the “greater good”. It’s a very bad idea.

  9. Love how this fool's trying to discredit "conspiracy theorists" when they've been talking about this for literally decades. News flash buddy: Governments and corporate entities conspire together to increase their wealth and power (i.e. fascism).

  10. No shadowy cabal ? What then is DAVOS ? Implementing social credit in the UK would not be so difficult considering the number of people conforming to vaccine coercion and lockdown coercion.

  11. Where did UnHerd found this idiot?
    "Too bad conspiracy theories are taking away the protagonism of my conspiracy theory…"
    Dude, listen to yourself. Do you even know the meaning of the word conspiracy?

  12. Interesting. I use cash and shop local as much as I can, though being a stroke patient since 2018 as left me dependent on internet shopping for many things i can't buy locally living in a more rural setting and not having a car. I think people should be prepared though too, not knowing what the near future really holds. Maybe foraging and bartering for some not forgetting riding your bike and doing what you like. Thanks .

  13. 21:15 “there are a lot conspiracy theorists” the cognitive dissonance of majority of people is amazing. he spent 20min explaining how central digital currency is ripe for abuse and then rejects existence of “conspiracies” using those opportunities! mate have you ever worked in government or corporate? if there is opportunity then there is conspiracy to use and abuse it.

  14. Awesome interview, this was some seriously good information. If I understood his view about bitcoin correctly, is that it's a kind of digital version of precious metals, and not a digital cash replacement.

  15. It boggles my mind how legislators are not immediately voting prohibiting and punitive laws to BAN FEES ON DIGITAL TRANSACTIONS, at the threat of closing banks, and putting bank(st)ers in prison, when caught breaking the law and collecting unlawful fees. Somehow it comes to my mind, that they are all one big dirty fascist oligarchic mafia: politicians and business, altogether.

  16. Thank you for an engaging and informative conversation. Several times this past fall (2022), when offering coin of the Realm to pay for a pint or a coffee in London, I was surprised and a bit put off to be told I could not pay in cash. I will say that I ran into this more in the precious quarters than elsewhere, and not at all in good old Somerset and Devon, where a good real ale was easier to find, and cost over a pound less.

  17. I've never been interested in cryptocurrency, but Brett's explanations gave me a fair insight into what it's all about, and I'm still not interested. We all must use credit/debit cards to make purchases online, and/or use bank drafts to pay mortgages and loans to prevent late payments, etc., but I still use cash for local purchases over a considerable amount. Much less tracking that way! All of this inter-sharing of our data has me concerned because they're all in on it, in one way or another. We have no idea who all the "third parties" they share our data with are or what they do with all the info they gather and share between what could actually be the whole world in one way or another.

  18. There's no stopping it. Just like our devices being changed to digital. Just need to prepare to find solutions and there will be ones that convert your digital currency into an anonymous account.

  19. I am a small merchant and the cost of using the online payment systems like Apple Pay is giving up a huge cut per transaction for ding nothing. Commonly known as the “Apple tax.”

  20. Beware of a much touted narrative that cash less means less crime, e.g. 2022 was the first year in Danish history with not a single bank robberiy, but branches still carry cash. So actually it's more likely that the reason is that cash is better ptotected and you are likely to get caught.
    Cash doesn't cause crime, the no-cash-equals-no-crime is a completely false narrative. Crime has simply moved on to better paying schemes and they are all digital.
    Take a look at the FTX scheme or the 12.7 billion DKR tax fraud against the danish tax system.
    Both of them were only possible with digital assets.

  21. "There's a sort of enclosure happening here." It's not that there is a shadowy tax farmer that wants to "secure" his livestock. It's just that a lot of fence companies are competing to see how much fencing they can put up – right? If you can't see the conspiracy at this point, what will it take? They are literally on national TV bragging about it.

  22. I am a small business owner and I have signs that says that I prefer cash ans we have a minimum purchase if customers wants to use cards. I frequently explain that I pay $2000 in bank fees with the use of cards, and money I could easily employ another staff.

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