cash

The War on Cash Is a War on Your Freedom to Opt Out

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Charles Hugh Smith – I’ve covered the war on cash i.e. the proposed elimination of cash, a number of times, for example, The War On Cash: Officially Sanctioned Theft (June 13, 2015)

Our first question should be: just how big a share of our financial universe is cash? The answer is: vanishingly small. Look at this chart of total credit in the U.S. economy–$63 trillion–and total cash: $1.45 trillion. Cash is the thin red line at the bottom of the chart–it barely registers.

cash

Meanwhile, total household/non-profit-sector financial assets total $70.3 trillion (net $55.8 trillion minus liabilities of $14.5 trillion).

Total money (currency in circulation and demand deposits) is over $10 trillion.

If cash is such a small share of money and assets, why are governments so keen to ban cash?

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Banning Cash: Serfdom In Our Time

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cashPaul Rosenberg – Over the last few months a stream of articles have crossed my screen, all proclaiming the need of governments and banks to eliminate cash. I’m sure you’ve noticed them too.

It is terrorists and other assorted madmen, we are told, who use cash. And so, to protect us from being blown up and dismembered on our very own street corners, governments will have to ban it.

It would actually take some effort to imagine a more obvious, naked attempt at fearmongering. Cash – in daily use for centuries if not millennia – is now, suddenly, the agent of spring-loaded, instant death? And we’re supposed to just accept that line?

But there are good reasons why the insiders are promoting these stories now. The first of them, perhaps, is simply that they can: After 9/11, a massive wave of compliance surged through the West. It may not last forever, but it’s still rolling, and if the entertainment corporations can pump enough fear into minds that want to believe, they may just get them to buy it.

The second reason, however, is the real driver:

Negative Interest Rates

The urgency of their move to ban one of the longest-lasting pillars of daily life means that the backroom elites think it will be necessary soon. It would appear that the central banks, the IMF, the World Bank, the BIS, and all their backers, see the elimination of cash as a central survival strategy. Continue reading →

Financial System Booby Trapped with Debt Bombs

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stockmanGreg Hunter – Former Reagan Administration budget director David Stockman says the biggest crash coming is not going to be in the stock market.

Stockman warns, “I think we are headed for a central calamity. The central banks of the world have been on a 20 year campaign to massively expand their balance sheets and intrude into financial markets in ways that were never before imagined. In the process, they falsified every asset value there is from overnight money all the way to 30-year bonds and the stock market. Continue reading →

Secret War on Cash: “Discussions at Bilderberg Centered Around Capital Controls, Abolition of Cash”

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cashPaul Joseph Watson – According to some, a very quiet stealth war on cash has begun,

May your bank account, debit card and gold reserves be on guard…

The world’s elite are meeting in secret this week at the Bilderberg meeting, set at a luxury resort in Telfs-Buchen, Austria.

Investigative journalists have confirmed that the private discussions among top power brokers across the globe include arrangements to restrict currency and penalize – or ultimately even ban – cash.

Read the attendees list… real power and wealth are running with the movers and shakers. With bankers, equity giants and financiers all present, the agenda is quite in line with recent reports, as SHTF has long reported.

  • Expert Says “Banning Cash” The Only Solution to Negative Interest Market Problems
  • Cash on Lockdown: Bankers “Want Badly to Charge YOU Interest for Depositing YOUR Funds”
  • Banned: Chase Bank Says You Can No Longer Store Cash or Precious Metals In Your Safe Deposit Box

Paul Joseph Watson of Infowars recently warned via video:

[youtube=https://youtu.be/LNrzElZf3bo] Continue reading →

The Coming Capital Controls Are Designed To Protect The Banks From You

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cashSimon Black – Of all the peculiarities about human nature, one of the most interesting in my opinion is that we’re so resistant to change.

Humans simply don’t deal with it well. We tend to root. We find comfort in familiarity.

And, even when the familiar becomes unpleasant, we still put up with it. We prefer to suffer through something that we know rather than change things and risk the unknown.

This is why people stay in bad relationships. Or why they continue working for bosses they dislike at jobs they despise. It’s the fear of change.

But everyone… absolutely everyone… has a breaking point. It’s a point where the status quo becomes so uncomfortable, so painful, that we snap. And walk away.

It’s the same in finance. People stick with what they know, even if they have to endure a little pain and suffering.

Today’s current banking environment is the perfect example. In the US, interest rates for most bank accounts are so low that they fail to keep up with inflation.

You are doing very well if you can generate a whopping 0.5% interest. In Canada rates can be a bit higher.

But when you compare these rates to even the official rates of inflation, it’s clear that savers are guaranteed to lose money.

In Europe it’s even worse. Interest rates at many banks are negative… so savers are actually paying the banks. In theory there’s nothing wrong with paying your banker, presuming that they’re providing a real service.

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