Influencer Andrew Tate claims that money can "disappear" from the economy after going through several successive bank transactions, due to fees and commissions.
NEWS: Andrew Tate explains in simple terms why there is so much emphasis on limiting and even abandoning cash payments.
"If I have a 50-dollar bill and I give it to my barber to cut my hair, and then he goes and buys groceries with it, and the store clerk goes and washes his car with it, the 50-dollar bill goes from place to place, and after 20 or 30 transactions, the 50 dollars belong to someone and they are worth 50. If I pay with a card, 1.5% goes to the bank. If the person I gave the money to pays for groceries, 1.5% goes to the bank. After 20-30 transactions, the $50 is gone. The bank has everything. I think that's why they're so desperate to get rid of cash. It's interesting!" says Andrew Tate.
NARRATIVES: 1. Money disappears from the economy after passing through several successive bank transactions. 2. Humanity is being pressured to give up cash transactions.
PURPOSES: To promote conspiracy theories, to undermine trust in state authorities, to provoke and amplify social tensions, to validate one's own conspiracy theories.
Money is not removed from the economy through taxation.
WHY THE NARRATIVES ARE FALSE: Andrew Tate uses an extremely simplified example to argue his theory that the global cabal wants to eliminate cash from the economy in order to more effectively control the planet's population. Starting from the fact that card transactions can indeed be subject to taxation (by the state, commercial banks, or the company that issued the card) and allow authorities more control and traceability over financial flows, Tate argues that in this way the initial amount is completely captured by banks. In reality, the money does not disappear, it is redistributed. The commission invoked by the British influencer is not an arbitrary tax, it’s the cost of a service provided to both the buyer and the seller. Thus, the entire amount remains in circulation, and the person who collects the commission is taxed like any other merchant. Subsequently, the money passes from one person to another, and the taxes collected go to the state, which reinvests them in the economy (public salaries, infrastructure, services). Taxation by the state does not mean the destruction of money. Taxes are an essential part of any functional economy. They do not cancel out the existence of money, but change its destination, from the individual's pocket to public spending. The banking and tax systems are complicated, but they do not work on the principle of "money evaporation." Furthermore, giving up card payments will not bankrupt banks, because they do not lose money if the population uses only cash, they only lose out on commission income.
Instead of fearing the disappearance of cash through transactions, we should be more concerned with understanding how the economy works and how we can better use modern financial instruments—whether digital or cash. First, we must accept that the digitization of money is not a conspiracy, and that the elimination of cash is not motivated by the desire to control the population . In several European countries, such as Denmark, Sweden, Norway, and Finland, people are using cash less and less. In Europe's major cities, there are shops, cafes, and public transport that only accept digital payments. Central banks around the world are also testing official digital currencies (CBDCs), such as the "digital euro" or "digital dollar."
But even under these circumstances, cash is not prohibited, as it is a legal means of payment everywhere in the world. Moreover, the European Union has even proposed a law to guarantee access to cash in order to prevent financial exclusion.
The Satanic conspiracy that will enslave humanity
CONTEXT: The narrative of eliminating cash and introducing digital currencies as part of a satanic plot to suppress the freedoms and rights of humanity has been circulating in the public sphere for some time. It combines theories already debunked in the pages of Veridica, such as that of “digital camps” or “eco-dictatorship” that will push humanity towards a feudal social system, to which it sometimes adds a religious component. The false hypothesis exploits the population's fear of total financial surveillance by the authorities. Without cash, every transaction can be tracked, and the state and occult corporations could have access to every purchase made. At the same time, there is also a fear that people without access to technology (the elderly, those in rural areas, vulnerable people, etc.) would be negatively affected in an exclusively digital economy. There are also voices arguing that, in a completely digital system, the state or banks can block access to money with a simple click. For this reason, there are a number of concerns that the transition to exclusively digital payments (if it takes place) should be done in a balanced way, protecting privacy and ensuring equal access to services, as well as the possibility to choose the preferred means of payment.
Andrew Tate is a British – American former MMA fighter/influencer/ businessman, currently under investigation in Romania and the UK for forming an organized crime group, human trafficking, and rape. In 2022, after moving to our country with his brother Tristan, he told his millions of followers around the world that he had made the decision to escape rape charges more easily and that he preferred to live in countries where "corruption is accessible to everyone." Over time, he has had his social media accounts suspended (including TikTok) for promoting false, racist, misogynistic, and homophobic messages. His Twitter account was reactivated after the platform was taken over by Elon Musk. Andrew Tate constantly makes provocative statements about money, power, women, and masculinity. He is extremely popular, especially among young men, being a central figure in the "manosphere" — a heterogeneous digital community of blogs, influencers, and forums dedicated to masculinity, self-development, and gender relations. Although the manosphere includes moderate voices that promote discipline and male responsibility, it is also frequently criticized for misogyny, conspiracy theories, and social polarization—traits often found in Andrew Tate's rhetoric.
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