Cloud money by brett scott9/8/2023 ![]() ![]() Upstream is a labor of love - we couldn't keep this project going without the generosity of our listeners and fans. Support for this episode was provided by the Guerrilla Foundation and by listeners like you. Upstream theme music was composed by Robert Raymond. Thank you to The Pixies for the intermission music. ![]() In this Conversation, we take a deep dive beneath the surface of the global financial system to explore the technical and political differences between various forms of money, why corporations are attacking physical cash and plotting to completely replace it with digital money, who will really benefit from a cashless society, and why the fight for ownership of our digital footprints is one of the most pressing battles of our time. In his latest book, Cloudmoney: Cash, Cards, Crypto, and the War for Our Wallets, author, journalist, and financial hacker Brett Scott lays out an extremely compelling case arguing that corporations are engineering an enclosure of money - transforming it into a completely digital form which they alone will control. ![]() More, as banking and tech companies promote a cashless society under the banner of progress.įrom marketing strategies against cash, to the weaponization of Covid-19 to advance fintech platforms, and the cryptocurrency rebels and fringe groups pushing back, Cloudmoney takes us to the frontlines of a war for our wallets that is also about our freedom.įollow Brett on Twitter and LinkedIn for more insights.Is the growing ascendance of digital money simply an organic evolution away from the purported inconveniences of physical cash? Or is this transition actually a nefarious, corporate-engineered, neo-enclosure of money by Big Finance and Big Tech? This includes for instance the withdrawal of high‐denomination banknotes or restrictions on cash transactions as well as spreading misinformation on the usage and properties of cash. Diving beneath the surface of the global financial system, Brett Scott uncovers a long-established lobbying infrastructure waging a covert war on cash The expression refers to various policies by governments and campaigns run by other stakeholders, including providers of alternative payment instruments, aimed at reducing or at abolishing the use of cash altogether. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Who benefits from a cashless society and who gets left behind? Is the end of cash the end of true privacy? And is a cashless future closer than we think?Ĭloudmoney tells a revelatory story about the fusion of big finance and tech, which requires physical cash to be replaced by digital money From the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. ![]() But what we’re told is natural and inevitable is actually the work of powerful interests: the great battle of our time is for ownership of the digital footprints that make up our lives. And the reach of corporations into our lives via cards and apps has never been greater. ![]()
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