How cash is becoming a thing of the past | DW Documentary (Banking documentary)

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  • Published on Nov 21, 2018
  • Cashless payments are on the rise. They are fast, easy and convenient. Worldwide, cashless transactions have become the norm.
    But Germany’s central bank and government are still clinging on to cash. Can they stop the move towards a cashless society? Our documentary shows who is behind the worldwide anti-cash lobby. Banks want to get rid of coins and bills for cost reasons, and politicians think less cash will cut the rug out from under criminals and terrorists. Central bankers want to abolish cash because it would make it easier for them to enforce negative interest rates. And digital payment companies like Paypal or Visa simply want to profit from money transactions and collect as much financial data about consumers as they can. Their aim is to gain complete control over our buying behavior. For example, the "Better than Cash Alliance" in New York is supported by financial corporations such as Visa or Mastercard. They say the more people that are integrated into the international financial system, the more growth and jobs it will promote. But as our financial behavior becomes more and more transparent, states are also using payment data to find out more about us. The ordinary citizen’s view of cash as a store of value, independent of third party interests, is being increasingly ignored. But for them, cash is and will remain a symbol of freedom.
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Comments • 1 740

  • mushroomhill
    mushroomhill 5 hours ago

    Varying and mixed options of paying is the way to the future. Completely terrifying to rid the world of tangible money. Banning and ridding of proven features of society is just setting your Nation up for a future crisis.

  • Ronaldo Conrad
    Ronaldo Conrad 9 hours ago

    A new form of control. The world will burn if when these systems fail. Excellent report.

  • di. mythios
    di. mythios 14 hours ago

    Cash is the method of staying free. Once you go Cashless you are at the mercy of the those who control the finances as well as the hackers. Last year 1 billion dollars was stolen from people using bit coin. I wish to stay free.

  • Wing Chun Kung Fu Holland

    Negatieve interest :(

  • Neil O'Neal
    Neil O'Neal 2 days ago

    Cash allows anonymity. They have to find a way to offer that in digital currency. Crypto currency fluctuates a lot so a slice of pizza may not cost the same the next day. We need the stability of national currency, the convenience of digital, and anonymity of cash.

  • Edward Snowedus
    Edward Snowedus 2 days ago

    Gaping at the sign on a regional grocery chain - OWNED by the workers - "NO CREDIT CARDS ACCEPTED. Cash or Debit only." I never asked why. Charge back credit on groceries a problem?

  • Edward Snowedus
    Edward Snowedus 2 days ago

    Ice Storm driving home from work, stop somewhere: "Do you have CASH our system is down." No wireless terminal 100% wired.

  • Ernst Eck
    Ernst Eck 3 days ago

    This is why people call it Swedumb.

  • Mike Point
    Mike Point 4 days ago

    Cash is no longer “KING”

  • Ildar S
    Ildar S 4 days ago

    Probably sooner or later developed countries will get rid of cash completely. It's just a matter of convenience - 20 years ago most people didn't have bank cards, as there wasn't much infrastructure for using it like terminals in shops, ATMs and banking apps. Now times are different. Digitalization is so embedded into economy today, that using technology to make payments more convenient is a natural thing to come. And I haven't heard sound arguments in favor of cash. And it looks like there aren't such. I understand, that it would be preferable for corrupt officials and drug traffickers to still have cash around, but that's not part of society that should have voice on such matters, honestly.
    Advantages of cashless payments are numerous:
    1) You don't have to have wallet anymore. Just one debit card in your pocket will carry you through the day. Come to that, no need for card too - everyone takes their smartphones with themselves everywhere, and you can pay with NFC if your phone has it. Wallet can be stolen. If your card is stolen, you have a high chance to save your money from being withdrawn by thief, thanks to bank security policies.
    2) No need to calculate amount of money you have to take with yourself when going shopping, no need to calculate change.
    3) Matter of hygiene also plays part. Cash money are dirty. You have no idea how many hands held your money before they ended up in your wallet. There's no such problem when paying with your own card.
    4) You have cashback when paying with your card. 1-5% is the norm.
    5) You can see your weekly/monthly/yearly expenditures grouped by different categories in a banking application. Most banks have developed great UIs for their apps so you can see clearly how you spend your money. So, no need to calculate these numbers yourself, which makes personal budgeting a lot easier.
    The only downside I see is not all businesses accept cards yet. But that's temporary. Sooner or later they will have to, otherwise risking losing competitiveness to shops/cafes/etc which have lean payment policies. If I go into a restaurant and manager tells me that only cash is allowed, I would just go out silently and search another place, where card payments are allowed.

  • Ivan Broes
    Ivan Broes 4 days ago

    30:31 What happens when PayPal blocks you out -- I have had the case by making a mistake offering furniture on Ebay. Ebay blocked me over an issue of 3.94 euro, Ebay requested me to pay 11 euro, which, and ebay refused to cancel my account. And PayPal blocked me, though both claim they didn't do so. I was in business and I can smell a rat with these multinational. This is why I have always a back door for any eventuality, and we (teh naive people) are going to get caught.

  • PLEASE SUBCRIBE FOR MORE NEW MUSIC

    Homeless people are in trouble if this happen i already been cashless for a long time

  • avehcado
    avehcado 6 days ago

    This only promotes the society of consuming and consuming until it consumes us

  • Ruby Abc
    Ruby Abc 6 days ago

    I‘m happy, that cash is not gonna be a thing of the past in my country (Germany)

  • Inyalabudbud Punjabbidaliwad

    Go cashless......no more panhandling bums:))

  • Brando Cervera
    Brando Cervera 9 days ago +1

    bitcoin

  • theloniousMac
    theloniousMac 10 days ago

    I never use cash. I work at home. Hell, I don’t even know where my wallet is. I pay for everything through my MacBook Pro, iPhone, or AppleWatch. Even before ApplePay existed, I just used credit cards. When I get paid, money is transferred to the service of my choice. I pay bills electronically. The world has been cashless for me for quite a while. I didn’t make a conscious decision, it just happened.

  • & Music
    & Music 11 days ago

    Will fight to the death before i get chipped or my childs!

  • louis foxwell
    louis foxwell 11 days ago

    Oh, this will work out just fine. Ha ha ha ha ha.........................................

  • Charles Lee Ray
    Charles Lee Ray 12 days ago

    As long as there’s drugs sex and criminal services for sale there will always be cash

  • 1agentflick
    1agentflick 14 days ago

    So do away with cash, then do away with cards and then insist that all must have a RFID chip, roll out the 5G and with all the secret geo engineering in play, kaboom all under control and on their way to turning into robots.

  • Frank Man
    Frank Man 14 days ago

    Thumbs up if you want more cash!!!

  • Frank Man
    Frank Man 14 days ago

    All governments have a duty to protect the people they represent. Government is to protect your right to privacy. Using cash is not criminal. Government must protect your freedom of expression. You are free to make purchases with state money. Government cannot force you to buy private bank service by eliminating state issued currency. Cashless society is corporate takeover of all nations. Shun these companies now before they. . .

  • DawgPro
    DawgPro 14 days ago

    I work in IT... with servers.
    Never in my life will I ever use any of that shietz.
    Here, this clip is a lot more interesting: thexvid.com/video/e03gh1huvw4/video.html

  • precious lotusflower
    precious lotusflower 16 days ago +1

    Imagine another tragedy like 2008. I save my money way better now then when I use to have a card haha fuck banks. But of course the convenience of it all. We’re all so distracted and will follow as sheeps do. WHEN WILL YOU STAND UP FOR YOUR RIGHTS?? WHEN WILL YOU START ASKING QUESTIONS?! WHY DONT PEOPLE CARE ENOUGH? We are the ones that matter, we are the ones who demand what we want and don’t want so why are we letting this happen?? A digital high speed world where your every move will be monitored and controlled.

  • Aneesh A. Mathew
    Aneesh A. Mathew 17 days ago

    Cashless economy helps multi national companies and governments to get more control over common peoples day to day life. It will steel our economic freedom forever. We need mass campaigns to promote cash economy. A balanced form of cash and card economy is ideal for the future. Today they asks you to stop using cash and whats next?

  • Ernest Brown
    Ernest Brown 18 days ago

    There already doing it in China Dystopian Dictatorship is a must watch. 200million cameras and scanners everything online barcode face scan promocode everything tracked ! Then the new thing is Social score! Crazy!

  • Jason Haley
    Jason Haley 18 days ago

    Stop trying to control us!

  • Rajul Saxena
    Rajul Saxena 19 days ago

    Lol , yes Gold is the new currency .

  • Anders Gramm
    Anders Gramm 19 days ago

    So when sweden one day will go bankrupt the government got loads of individuals to steal from

  • outlaw0987654321
    outlaw0987654321 19 days ago

    I will never completely roll with zero cash. I'm pretty sure it'll happen at some point but that doesn't mean i like it. Too many things can happen if you go all digital a number of natural disasters which include hurricane,s earthquakes, tornados and tsunamis can screw over services Hell if the universe decides to play games the whole planet can be bombarded with waves that can knock out electronics.. IF that ain't enough humanity itself can screw you over be it individuals who hack or nations that decide to fuck with eachother but destroying services or even worse, deploying an EMP, that would be fun-_-. The last point would be the most likely issue we'd have to deal with imagine if you go to war with a country that uses nothing but digital transactions. The first logical thing to do is to cripple it somehow. I'm no expert so if i'm wrong feel free to correct me but in wars the first things targeted are communications and power planets even without those things if you have psychical currency, you can (assuming society doesn't go down the drain) at least attempt to continue functioning with SOME normalcy (all things considered in the scenario). crippling digital currancy in a place that only uses that could be far more crippling than knocking out power or telecommunications but this is strictly my opinion.

  • Gerdis
    Gerdis 19 days ago

    Or they take all e-cash if you have your own mind and behave the ways they don't want you to? Do you eat plastic card or a chip? Total enslavement. WAKE UP HUMANITY!!!!!

  • Jeffrey Richardson
    Jeffrey Richardson 20 days ago

    An informed consumer is your best customer.

  • gimlo100
    gimlo100 21 day ago

    Cashless system is either debit system or credit system. Both are costly and end up to the consumer's cost. China adopted the cashless system because they have a serious fake cash problem.

  • Leone Salvatore
    Leone Salvatore 21 day ago

    To pay with Cash or Cashless in one way it is the same Shit of Capitalism! On the other hand Cashless has a better Control of Everything! This can be Bad or Good there are Advantages and Disadvantages! In the World and Society we life right now I think it is better to have Cashless payments!

  • SunDevil527
    SunDevil527 22 days ago

    From the documentary I see the Europeans or Westerners are slow to adopt technology, whereas the whole China (with 14 billions population) has gone mobile payments. Cash is still accepted and in use but China is fast becoming cashless.

  • Rahmat Go
    Rahmat Go 23 days ago

    oneday bankers will broke , islamic economic will defeat them and all people got the wealth of this world not only 1 % people like now..open your eyes why bankers hate islam

  • aleksander suur
    aleksander suur 23 days ago

    Concerns about control are well justified, but there is something most people are forgetting here. Ask yourself, the cash in your wallet, where did it come from? If the answer is ATM, then from perspective of control, you are already as good as cashless. Your income can be blocked just like that. There is really no point in discussing downsides of cashless, they are many and obvious. The flipside however...
    You can still buy your drugs with gold, foreign cash, bottles of vodka or whatever. The drug dealer however will be in deep trouble, where is he going to get money to pay for groceries? Or an illegal immigrant who doesn't even exist in the country as far as bank is concerned, how is he going to pay for groceries? A piece of plastic can be a higher wall than any Trump could build. Tax evasion will be difficult to say the least, something anyone who pays all his taxes should be quite happy about. Bribery will be rather more complicated. So on and so on.
    Yes, of course, all this has a rather Orwellian tint to it, but there are some very real benefits to society as a whole too. Something to think about beyond "omg bank will control all my moneys", newsflash, it already does.

  • Leslie Alexander
    Leslie Alexander 24 days ago

    Wow. Cashless people=proper upright human avatars of virtue, god's elect fur sure.
    Cash using people=those who must be cast out for their inequity.
    Despite hundreds of years of self demonstrated verification of economic and political theory in practice people take such short sighted approach to value and exchange.
    Apparently many people with kids really think this way. How eternally primitive we remain.

  • R A
    R A 24 days ago +1

    Realizing ppl are ignorant of what the book of revelations in bible says about this 😂

  • Max Haase
    Max Haase 24 days ago

    A cyber attack on the banking system would paralyze everything, regardless if you have cash. If you live in a city, imagine if you're unable to buy food for 10 days, what then??? DW is not asking the right questions, because in reality paper or plastic isn't the real problem, it's the monetary system itself, it's obsolete and yet there is no feasible solution.

  • Ashok kumarVTR
    Ashok kumarVTR 25 days ago

    A mass of people going towards cashless economy in India.

  • Jaime Donaldson
    Jaime Donaldson 25 days ago +1

    one key stroke and it all goes away

  • Mark Copland
    Mark Copland 26 days ago

    And if and when the system is tampered with or shuts down,your money at the bank will be there and you go home with no groceries.

  • Based af
    Based af 26 days ago

    scary
    how will europeans buy drugs? thankfully i live in canada

  • Patty Whitey
    Patty Whitey 26 days ago

    Funny how this video talks about digital payments and everything, of a future heading towards a cashless society, but did not mention bitcoin even once. Yet, the german students were gazing in awe at coinmarketcap (see 14:35) because of the thousands of cryptocurrencies that exist today.

  • Jim NORRIS
    Jim NORRIS 27 days ago

    Doing away with cash is a LONG way off.

  • John Howell
    John Howell 27 days ago

    Oh, it's such a big deal to handle cash. lol. Yeah it's all well and good until the internet goes down, and it will at some point.

  • interpretation 21
    interpretation 21 27 days ago

    when people find out what going digital means...that it means loss of independence....they won't do it. very strange how all the motherboard companies came out immediately with support for bitcoin...;) all planned. the globalists are ready to remove their 'cash control' game and move on to the global control....to artifically determine the value of things...you wont be able to buy anything cheap in india...(like a car...) anymore...or a great rent (40 a month) buy a house for 10,000...etc. because their kicking in artificial valuation. economies wont reflect native realities! that grotesque valuation of itself will destroy real ability....putting faith in a fake system is pretty stupid. oh yes, i think dhimmy means dummy. and being called a 'guy' means your a 'goy'im. basically an animal; a dummy. 2) digital only means something IF the satellites are not knocked out...your global gov is not satanic, and your local power does not shut off. demons know how to give goods things in commensuration to very bad outcome. 3) like the man says in the video they will know who u are when u buy..and can decline the sale...and starve you to death or leave you stranded at an airport..of if your a non globalist of a political faction they want wiped out...that is fighting them....they freeze your funding..and assasinate you where you are. believe me..cash is strategically and sovereignly necessary :) i would never allow my government to issue a digital currency save it be a triffle...and entirely abridged by so many data safeguards...that they could not verify where you are :D it would be location encryption end to end.

  • Evan Adkins
    Evan Adkins 28 days ago +1

    Bitcoin.

  • Mister M
    Mister M 28 days ago +1

    The end of the world as we knew it is near indeed.
    The Kings Bankers are winning it all.
    We are near the end. Who is ‘we?’ us the plebes, the workers the bees that make the honey for the elite Kings, the bankers.
    Unless……we wake up NOW. Tomorrow is too late.

  • Shadow Fan
    Shadow Fan 29 days ago +1

    what happens when the swedish economy fails?

  • Sunit Sagar
    Sunit Sagar 29 days ago

    We must invent foodless society too then. Swallow a pill and chill.

  • Canadian
    Canadian Month ago +1

    A cashless society is a weak society period

  • John Donwood
    John Donwood Month ago +1

    This is exactly what Aaron Russo was talking about. They want to get rid of notes and coins so that money is stored on chips so that the elites can access it whenever they want and take whatever amount they want. If you stand up to the elite in a protest, they find your name in the database and turn if off so you can't buy anything.

  • Nguyen N.
    Nguyen N. Month ago

    Cash'll be a relic once drug dealers accept credit cards and bitcoin.

  • 徐雲亮
    徐雲亮 Month ago

    😎

  • Rick Melin
    Rick Melin Month ago

    Swedish woman are gorgeous.

  • Abg Ganteng
    Abg Ganteng Month ago

    Hacker will be happy

  • tamika jackson
    tamika jackson Month ago

    So you going need insurance for hackers.I find myself arguing with the atm about 3rd party fees.

  • jamster o
    jamster o Month ago

    And the huge company's dodge tax

  • Mike Sullivan
    Mike Sullivan Month ago

    Decentralization and cryptocurrency will change the world.

  • kaashee
    kaashee Month ago

    Cash was never money for at least 100years. It’s all fiat and all currency.
    That’s the biggest lie ever; that cash is money.
    Hopefully we get card transfers 100% - it will get more people to realise how evil the system is

  • wael shehadeh
    wael shehadeh Month ago +1

    Thumbs up if you are for decentralized crypto.

  • DJ Trevi
    DJ Trevi Month ago

    I don't think cash will go away. I mean digital everything can go wrong.

  • gildur09
    gildur09 Month ago

    Cash is king

  • Ben Play's
    Ben Play's Month ago

    So drug dealers soon accept card payement? interesting..

  • jay muir
    jay muir Month ago +1

    Lies ..Money is for people not banks .Collected taxes are the people's money's for the betterment of Thier lives. not to line the pockets of greedy government Employees and bankers who think our tax revenue is theirs. . India made a huge mistake and will pay the price in my Opinion. A Very Bad idea that likley Would destroy the basic fabric of Human trade interaction at the grass roots level. Besides barter.
    Circular flow of money not bits of data is what I Learned. Thanks but no thanks. Make the money out of gold or silver so it has actual value .Many modern examples have been introduced but banks don't want that .they can't Steal it from you with service charges and power outages. A plan for DOOM.

    • jay muir
      jay muir Month ago

      I Use both and like it just how it is.

  • jay muir
    jay muir Month ago

    What are the very poor without bank accounts or credit to do. This whole idea is discrimination Cash is a right and like me if you have been stuck in a massive power outage stranded in a strange town with a broken-down truck and 2 young children.wwith only. Bank card and a 5 dollar winning lottery ticket.they couldn't even cash my ticket without power my 2 kids and I were stuck in 40celcius heat for 6 hours with no Cash .the power was out for days because of a problem in theU.S I'm in Canada! Thanks to a kind stranger my kids where given a pop and chips and some shade to wait in .NEVER Again .A cashless world would absolutely depend upon constant and guaranteed electric power at all PoS. even then the poor will suffer the people will Regret it Stupid Idea .
    " Gee all we have to do is shut off the power and we have them all by the throat! " The Sheeple Masters....

  • Rob Levesque
    Rob Levesque Month ago

    Does it actually help put money to work? Or just make people poorer and endetted?

  • Concrete Etc. Everything Concrete

    I never heard this questioned asked.....What happens when someone hacks these banks or card compaines and your money is stolen just hacked plainly to launch economical war between countries? It seems to me that everything can be hacked and information stolen if you follow the news any.

  • QRS3C273
    QRS3C273 Month ago

    I don't remember the last time I had paper money in my wallet.

  • something else
    something else Month ago

    India has UPI long back

  • Touchofgrey53
    Touchofgrey53 Month ago +1

    Cash is not the problem. CENTRAL BANKS are!

  • Touchofgrey53
    Touchofgrey53 Month ago

    Watch cyber crime skyrocket! BTW, Would someone please, teach me how to become a hacker.

  • Carlson Anim
    Carlson Anim Month ago +1

    Both have a place in the society...little payment with cash but large payment with cards. However it will demand all to have bank accounts. Yet the problem rises as to who is in charge of the bank with our bank accounts? is the Government or private individuals.
    With government solely having the full control of our saving accounts, at least there is guarantee for continue development and equal distribution of wealth. But with private individuals, then we are going back to the old system of unequal distribution of wealth which crashed to create communism. The gap between the rich and poor must be monitored constantly, wealth in form of property and money must be monitored. savings accounts has no profit and yet private banks use the money to enrich themselves giving back no return to the real owner of the money in their banks.

  • Max G
    Max G Month ago

    The root of the problem is very clear: another privatisation of a public utility: cash. Charging a fee for the official currency is illegal, but is used to provide a supposedly cheaper option that is cashless. But the people with their wilful ignorance will chose convenience over their privacy... as they've done with Facebook, ApplePay, Google, etc. I suggest to read Orwell's 1984 for some inspiration what is awaiting society... already happening in China.

  • Tony Montana
    Tony Montana Month ago

    How do they buy drugs?

  • JaeyunJi
    JaeyunJi Month ago

    It's already world without cash. We should talk about world without credit cards.

  • Jazzy Vids
    Jazzy Vids Month ago

    It's all nice and good until the electricity goes off. Good luck getting goods with your cashless cash.

  • mr cat
    mr cat Month ago

    this woman that hates cash because shes so absent minded she throws it in the trash thinking its exactly that... what a moron....

  • Cap Carter
    Cap Carter Month ago

    Forced to save money?? is this guy completely out of his ever loving mind

  • D
    D Month ago

    Cash keeps the government out of your business. Freedom!

  • noah
    noah Month ago

    Will never happen in the United states. You always need cash to deal with personal transactions and without banks knowing everything you buy and do. No way! I mostly use only cash and alot of americans do.

    • noah
      noah Month ago

      And safety concerns. Who wants everyone knowing who you are and what you buy. This is very dangerous.

  • scotpens
    scotpens Month ago

    The obsolescence of cash is like flying cars and controlled nuclear fusion. It's been just 10 years away for the last 50 years.

  • carpo719
    carpo719 Month ago

    They get ya right there where they want ya! We thought they would have to force us to go cashless, but we did it voluntarily. Banks are the problem, not the solution. But people also need to learn to stop buying into the propaganda and spending money they don't have. We need cash. Some things are best bought privately.

  • TheMsLady4Real
    TheMsLady4Real Month ago

    I love my cash! Never owned a debit card!

  • David Paul
    David Paul Month ago

    After cash you can remove all the banks along with visa, MasterCard etc.. and we can pay each other digitally and privately person to person. Blam! The future.

  • ranter7100
    ranter7100 Month ago

    The winners will be the bankers the losers people.
    fuck that idea
    Vive le yellow vest fuck the globalists

  • M St
    M St Month ago

    Of course the banks want to stop cash. Slavery begins.

  • Rick Nelson
    Rick Nelson Month ago

    Maybe I am a little paranoid but why give private companies and big government total control over every thing you do in your life. Seems rather short sided to me.

  • John Recker
    John Recker Month ago

    Interesting to hear a bank worker talk about the financial burden of cash, when they literally create money out of thin air.

  • Solomon Essix
    Solomon Essix Month ago

    Knowing that you are living a transparent life and adjusting it as needed is so Orwellian, but most of all unacceptable!

  • Oscar Perez
    Oscar Perez Month ago

    When was this recoded? they never accounted for cryptocurrencies.

  • Kizz This
    Kizz This Month ago

    Will never happen. Cash is king. Maintains privacy against the government, competitors, personal matters, business matters,.....Look as long as anyone can track your transactions, it's a dangerous slope.

  • DOS UNO
    DOS UNO Month ago

    Research Jacque Fresco and Resource Based Economy

  • Gods Friend
    Gods Friend Month ago +1

    Lol. Slaves did You know that You are paying for THE war,the killing of children,the blood is on Your hands,why be a slave let them proof that they are onest,they dont know how,they cant,stop living as sheep,Your kids thats wat they want,dont trust the devil,they Will juse Your kids to fight for there wealth,iT was juseles paper now not even that You work for air,and they buy houses as big as a vilage,without even working,😱

  • Cool Vids
    Cool Vids Month ago

    11:54 Cash or currency has the federal reserve, central bank/is centralized. that is more than a corporation pushing credit cards. Gold is its own entity.

  • Sulfen
    Sulfen Month ago

    I love using card over cash but a couple weeks ago the internet went out for a day and a half in my area and everything was down. I couldn't even take out cash from an ATM because they were also down. So now I keep some cash in my wallet in case something like that happens again.

  • Keith Sheridan
    Keith Sheridan Month ago

    Money doesn't need battery's, your phone does. You dont need to charge your money every night hahaha