Events are transpiring that are unnervingly paralleling the warnings of Bible prophecy. Noted economist Martin Armstrong has reported that a group of international financiers from the European Central Bank and the Federal Reserve are holding meetings to “advocate the elimination of all cash to bring to fruition the day when you cannot buy or sell anything without government approval.” Under the guise of combating illegal activity and providing greater stability for large international banks these meetings are intent on advancing the ideas of many top economists such as Citigroup Chief Economist Willem Buiter who recently advocated abolishing cash altogether in order to “solve the world’s central banks’ problem with negative interest rates.”

Cashless Plan Proposed in Denmark

In fact, as reported by CNN, the government of the nation of Denmark has proposed a plan to remove paper currency and coins from the nation’s commerce system. Under such a proposed law the vast majority of all businesses would be required to cease accepting paper currency or coins. The only exceptions would be essential services, such as hospitals, pharmacies and post offices. The executive director of the Danish Bankers Association, Michael Busk-Jepsen, was quoted as saying a cashless society is “no longer an illusion but a vision that can be fulfilled within a reasonable time frame.” A popular rise in technology has helped to advance this situation. Nearly 40% of the population of Denmark have embraced MobilePay, which facilitates the electronic transfer of funds to cover purchases in stores or online and allows money transfers between individuals. This technology is controlled by Danske Bank Group which, according to danskebank.com, “is the largest bank in Denmark, and one of the leading financial enterprises in northern Europe.”  The ease with which European nations have embraced similar technology is startling. As CNN reports, Scandinavians use electronic means to cover over 94% of all payments made. Additionally, according to data from the European Central Bank non-cash payments rose 6% in 2013 and cashless payments overtook those made with paper currency and coins in the United Kingdom for the first just time last year. However, this idea has been in the minds of many for decades.

Relevant Bible Passages

Years ago, I read a fascinating article in a Delta Airlines Sky magazine entitled “Electronic Money Will Change Your Life.”  In this article the author claimed that the electronic transfer of funds would eventually lead to a “cashless society” dependent on “paperless transactions.” At the time this seemed like a far-fetched idea, but the turn of recent events has certainly proved the validity of such ideas. For instance, with certain technology you can pay for your groceries at the store, or pay for a snack from a vending machine, with your smartphone. Likewise, whereas years ago Bible prophecy teachers envisioned people with numbers branded on their heads or hands, we can now easily visualize a time when the type of electronic transfers we are starting to take for granted could have a role in the cashless society mentioned in Revelation 13:17.

PRAY: That these events will prove to be only suggestions and not an actual means to establish the type of cashless society alluded to in Bible prophecy. Pray also for the financial safety of those whose identities and financial information are ever-increasingly at risk as the world moves more and more toward electronic systems of finance.