Did WEF Just Order Governments To Ban Cash?!

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Did the WEF just order governments to ban cash, except for VIP elites?! Take a look at the viral claim, and find out what the facts really are!

 

Claim : WEF Just Ordered Governments To Ban Cash!

People are sharing an article (archive) by The People’s Voice (formerly NewsPunch), which claimed that the WEF just ordered governments to ban cash, except for VIP elites!

Here is an excerpt of the long and (intentionally?) confusing article. Feel free to skip to the next section for the facts!

‘100% Digital’: WEF Orders Govt’s To Outlaw Cash For ‘Non-Licensed Individuals’

Using cash to make anonymous purchases that are not monitored by the central bank’s invasive monitoring system will soon the reserved for VIP elites who hold licenses to use cash, if we allow Klaus Schwab’s World Economic Forum to roll out their carefully laid plans.

Recommended : Did WEF Founder Klaus Schwab Just Die In Hospital?!

Did WEF Order Governments To Ban Cash?!

 

Truth : WEF Did Not Order Governments To Ban Cash!

This is yet another example of fake news created / promoted by The People’s Voice, and here are the reasons why…

Fact #1 : WEF Did Not Order Governments To Ban Cash!

Let me start by quickly pointing out that the WEF (World Economic Forum) did not order governments to ban or outlaw cash, and limit its use to only VIP elites with the licence to use cash.

If the WEF actually did that, it would have been widely reported all over the world. Yet no legitimate media outlet reported such a shocking development… because it never happened!

Unsurprisingly, The People’s Voice never provided any evidence that the WEF ever ordered any government to ban or outlaw cash, or restrict its use to people with the licence to use cash!

It is also ludicrous for The People’s Voice to claim that cash will be reserved only for licensed individuals to use. How will they use cash, if everyone else has been banned from using it??? How idiotic!

Fact #2 : Khalid Humaidan Does Not Speak For WEF

The People’s Voice article insinuated or suggested that Khalid Humaidan was speaking for the WEF (World Economic Forum). That’s just utter nonsense.

Khalid Humaidan is the governor of the Central Bank of Bahrain, and does not speak for or represent the WEF.

Speaking at the WEF’s Special Meeting on Global Collaboration, Growth and Energy Development on Sunday, 5 May 2024, he only said that it was Bahrain’s goal to replace cash with CBDC (Central Bank Digital Currencies), and go “one hundred percent digital”.

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Fact #3 : Khalid Humaidan Said Central Bank Will Have Smaller Role

On top of that, Khalid Humaidan actually pointed out that the Central Bank of Bahrain will have a smaller role with CBDCs than it had with cash! After all, it is the private sector that plays a big role with the rolling out of these CBDCs:

We know in the past when it comes to cash, central bankers were very much in control with all aspects of cash, and now we’re comfortable to the point where the private sector plays a big role in the printing of the cash, in the distribution of the cash, and with the private sector we use interest rates to manage the supply of cash.

The same thing is likely to happen with CBDC. Yes, the central bank will have a role, but at some point in time — the same way we don’t call it ‘central bank cash’ — we’re probably going to stop calling it central bank digital currency.

It’s going to be a digital form of the cash, and at some point in time hopefully we will be able to be one hundred percent digital.

That’s why Humaidan said that these digital currencies should no longer be called CBDCs – because central banks will play a much more limited role, than they did with actual cash!

In short – while digital cash is traceable, central banks will have far less control over it, not more.

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Fact #4 : Cash Won’t Be Eliminated As Long As People Want It

Speaking at the Bank for International Settlements (BIS) Innovation Summit in March 2023, European Central Bank president Christine Lagarde pointed out that cash will always be around, as digital currencies will never be as anonymous as cash.

Is it [digital euro] going to be as private as cash? No. A digital currency will never be as anonymous and as protecting of privacy in many respects as cash, which is why cash will always be around.

If people want to use cash in some countries or in some transactions, cash should be available.

A digital currency is an alternative, is another means of payment and will not provide exactly the same level of privacy and anonymity as cash, but will be pretty close in terms of complete neutrality in relation to the data.

However, if people choose to use digital cash because it’s safer and more convenient, then there will be less cash. That has already been the case in many countries, like China, India and South Korea.

Eventually, cash could be eliminated in favour of digital currencies, but it will not happen because central banks “ban” cash. It will only happen if people want to use digital currencies instead of physical cash.

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Fact #5 : WEF Screenshot Is Fake

The cover image used by The People’s Voice article and video has a screenshot which purportedly shows the World Economic Forum (WEF) posting on X (formerly Twitter) that:

Nothing to hide? Nothing to fear! It’s time to BAN cash

That is most definitely a fake screenshot, because there is no such post on X by the WEF.

If the WEF actually posted such a shocking post, it would have been reported by the worldwide media. But of course, that didn’t happen, because the WEF never posted it!

Yet again, and unsurprisingly, The People’s Voice article provided no evidence that such a post ever existed!

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Did WEF Order Governments To Ban Cash?!

Fact #6 : The People’s Voice Is Known For Fake News

The People’s Voice is the current name for NewsPunch, which possibly changed its name because its brand has been so thoroughly discredited after posting numerous shocking but fake stories.

Founded as Your News Wire in 2014, it was rebranded as NewsPunch in November 2018, before becoming The People’s Voice. A 2017 BuzzFeed report identified NewsPunch as the second-largest source of popular fake news on Facebook that year.

Its articles have been regularly debunked as fake news, so you should never share anything from NewsPunch / The People’s Voice.  Here are some of its fake stories that I fact checked earlier:

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Dr. Adrian Wong has been writing about tech and science since 1997, even publishing a book with Prentice Hall called Breaking Through The BIOS Barrier (ISBN 978-0131455368) while in medical school.

He continues to devote countless hours every day writing about tech, medicine and science, in his pursuit of facts in a post-truth world.

 

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