Cashless

Paul McGuire writes about The Coming Cashless Society: Big Brother & The Mark of the Beast.

The truth is according to the original definition of the word "cash" we already live in a cashless society and have for decades.

John Law was born into a family of bankers and goldsmiths from Fife and baptized on the 21 April 1671. By the early 1700's he urged the establishment of a national bank to create and increase "instruments of credit and the issue of banknotes" backed by land, gold, or silver. Over the following two centuries there were numerous banks that failed and their notes became worthless. These notes were eventually called "legal tender" and were considered of value as long as they were redeemable in "lawful money" such as gold and silver coin which was considered cash. Cash in the mid 1800's was still defined as gold, silver or even copper coin. All bank notes were rejected as not being cash in any establishment who had a cash-only policy. Somewhere in our history the definition of the word "cash" was gradually redefined to include "notes".

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