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Largest Bank In America Joins War On Cash

Tyler Durden's picture




 

The war on cash is escalating. Just a week ago, the infamous Willem Buiter, along with Ken Rogoff, voiced their support for a restriction (or ban altogether) on the use of cash (something that was already been implemented in Louisiana in 2011 for used goods). Today, as Mises' Jo Salerno reports, the war has acquired a powerful new ally in Chase, the largest bank in the U.S., which has enacted a policy restricting the use of cash in selected markets; bans cash payments for credit cards, mortgages, and auto loans; and disallows the storage of "any cash or coins" in safe deposit boxes.

 

Buiter defended his "controversial" call for a ban on cash, as Bloomberg reports:

“The world’s central banks have a problem. When economic conditions worsen, they react by reducing interest rates in order to stimulate the economy. But, as has happened across the world in recent years, there comes a point where those central banks run out of room to cut — they can bring interest rates to zero, but reducing them further below that is fraught with problems, the biggest of which is cash in the economy.

 

In a new piece, Citi’s Willem Buiter looks at this problem, which is known as the effective lower bound (ELB) on nominal interest rates. Fundamentally, the ELB problem comes down to cash. According to Buiter, the ELB only exists at all due to the existence of cash, which is a bearer instrument that pays zero nominal rates. Why have your money on deposit at a negative rate that reduces your wealth when you can have it in cash and suffer no reduction? Cash therefore gives people an easy and effective way of avoiding negative nominal rates. Buiter’s note suggests three ways to address this problem:

  1. Abolish currency.
  2. Tax currency.
  3. Remove the fixed exchange rate between currency and central bank reserves/deposits.

Yes, Buiter’s solution to cash’s ability to allow people to avoid negative deposit rates is to abolish cash altogether. (Note that he’s far from being the first to float this idea. Ken Rogoff has given his endorsement to the idea as well, as have others.)

 

Before looking at the practicalities of abolishing currency, we should first look at whether it could ever be necessary. Due to the costs of holding large amounts of cash, Buiter puts the actual nominal rate at which the move to cash makes sense as closer to -100bp. So, in order for a cash abolition to become necessary, central banks would need to be in a position where they wished to set nominal rates much lower than that.

 

Buiter does not have to go far to find an example of where a central bank may have wanted to set interest rates much lower to -100bp. He uses (a fairly aggressive) Taylor Rule to show that Federal Reserve rates should have been as low as -6 percent during the financial crisis.”

As mentioned above, no meddling by a central bank is ever too extreme or too crazy for Mr. Buiter.

But now the banks themselves are getting involved, (as Mises' Joseph Salerno notes),

The war against cash has, up to now, been waged almost exclusively by national governments and official international organizations, although there are exceptionsNow the war has acquired a powerful new ally in Chase, the largest bank in the U.S. and a subsidiary of JP Morgan Chase and Co., according to Forbes, the world's third largest public company.

 

Of course , it is hardly surprising that a crony capitalist fractional-reserve bank, which received $25 billion in bailout loans from the U.S. Treasury, should want to curry favor with its regulators and  political masters and, in the process, ensure its own stability by helping to stamp out the use of cash.  For the very existence of cash places the power over fractional-reserve banks squarely in the hands of their depositors who may withdraw their cash in any amount and at any time, bringing even the mightiest bank to its knees literally overnight (e.g., Washington Mutual).

 

What is a surprise is how little notice the rollout of Chase's new policy has received.

  • As of March, Chase began restricting the use of cash in selected markets, including  Greater Cleveland.
  • The new policy restricts borrowers from using cash to make payments on credit cards, mortgages, equity lines, and  auto loans.
  • Chase even goes as far as to prohibit the storage of cash in its safe deposit boxes .  In a letter to its customers dated April 1, 2015 pertaining to its "Updated Safe Deposit Box Lease Agreement,"  one of the highlighted items reads:  "You agree not to store any cash or coins other than those found to have a collectible value."  Whether or not this pertains to gold and silver coins with no numismatic value is not explained. 

As one observer commented:

 

This policy is unusual but, since Chase is the nation's largest bank, I wouldn't be surprised if we start seeing more of this in this era of sensitivity about funding terrorists and other illegal causes.

 

Bet on it.

As we previously concluded,

We keep being bombarded by moves to restrict the use of cash and demands to ban it altogether. These demands seem to mainly revolve around two arguments:

 

one is that “only criminals need cash”, which is on a par with the absurd assertion that we should all be fine with Stasi-like ubiquitous government surveillance “if we have nothing to hide”.

 

The other one is that a cash ban would make life easier for the central planners who are actively undermining the economy with their policy of debasement.

 

We would argue that central banking and fiat money have done more than enough harm already and that the eradication of financial privacy has gone way too far. Money and banking should be freed from the clutches of government-directed monopolization and cartelization and should be returned to the free market.

*  *  *

In short, things in the already insane monetary realm are about to get a whole lot insane-er. But don't worry, the central banks are in full control.

 

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Thu, 04/23/2015 - 19:03 | 6024116 Fun Facts
Fun Facts's picture

complete control of the money = complete ZWO tyranny 4 u donkey.

Thu, 04/23/2015 - 19:04 | 6024119 johngaltfla
johngaltfla's picture

OF course the part they don't tell you:

They get to set prices electronically every day. Not to mention start a direct taxation system where your only appeal is to prove you the individual did not make as much money as they claim to be entitled to a "refund"...

Thu, 04/23/2015 - 19:17 | 6024148 Citxmech
Citxmech's picture

. . . and enter the new barter economy shortly thereafter.

Thu, 04/23/2015 - 19:27 | 6024176 Fukushima Sam
Fukushima Sam's picture

Isn't it against US Federal law to not accept USD as legal tender?

That was how they forced the populace to accept USD when the Fed was created.

Thu, 04/23/2015 - 19:44 | 6024223 Supernova Born
Supernova Born's picture

The NRA needs a bank.

Some credit card companies have already refused to deal with any firearms-related businesses.

 

 

Thu, 04/23/2015 - 19:56 | 6024274 espirit
espirit's picture

Bartertown Bitchez.

Lb, Cu, Ag, Au.

Rice and beans, lots of rice and beans.

Thu, 04/23/2015 - 20:04 | 6024308 Surly Bear
Surly Bear's picture

This isn't new or orginal. I worked at a super-regional and this was discussed as part of their BSA/AML program. The powers that be want to know who pays your mortgage, your car note, your credit card. Why? Taxes. There is a underground society surviving on cash. Don't believe me? One-third of Americans are not working. How do you think they live? Don't shoot the messenger.

Thu, 04/23/2015 - 20:14 | 6024346 boogerbently
boogerbently's picture

How can they steal it if they don't get you to take it out of your mattress and put it in the bank ?

Thu, 04/23/2015 - 20:22 | 6024376 El Vaquero
El Vaquero's picture

These dumbfucks are playing with fire.  But first they need to get congress to pass a law banning cash.  As it stands now, I kind of wish I had an auto loan with Chase.  I'd walk in with cash, offer to pay, and when rejected, I would default.  The legal tender laws that they probably lobbied for back in the day would come back to bite them in the ass. But, they do own a few congress critters, so we'll see how long that lasts.

 

On the flip side, poor people and street level drug dealers would be the most affected.  People who cannot get a bank account would be hosed, and they'd start making noise.  Drug dealers can only carry so much Tide around, so they'd start causing problems too.  If they push this through, there will be hell to pay.  If they push this through, it will be the point where we don't have a choice when it comes to insurrection. 

Thu, 04/23/2015 - 20:30 | 6024387 Stackers
Stackers's picture

Chase will also not allow anyone but the signed account holder to deposit cash into an account of any amount....

 

For all you spouting legal tender laws that force business to accept cash, I would suggest you look into what the true definition and use of the phrase "lega tender" actually means. It's really a more or less useless term unless you are writing contract law. It does not mean that someone or some business must accept it as a form of payment, but simply that it is a legally recognized form of payment.

 

wiki actually has an accurate definition

http://en.wikipedia.org/wiki/Legal_tender

Thu, 04/23/2015 - 20:39 | 6024408 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Rest assured the law will be changed or redefined anyway, if it gets in their way.

Murikans will accept this like they accepted Obamacare and every other ass-raping, because they're fucking cowards. The only plus side is this will coincide with a large expansion of the black and gray economy, where the last remnants of American ideals still dwell.

Thu, 04/23/2015 - 20:47 | 6024449 Tom Servo
Tom Servo's picture

How is the drug trade going to operate?!  LOL - Until that issue gets resolved, cash will always be around...

 

Thu, 04/23/2015 - 20:51 | 6024465 Keyser
Keyser's picture

Hang all the bankers, do it today... They have taken our world to the brink of collapse due to greed... We need a purge... 

Thu, 04/23/2015 - 21:03 | 6024507 tmosley
tmosley's picture

Literally kill all central bankers and their banker co-conspirators.

Part of doing that is to transact in anonymous cryptocurrency, like Dash, formerly DarkCoin, as well as gold and silver where possible.

Thu, 04/23/2015 - 21:42 | 6024609 JamesBond
JamesBond's picture

I haven't seen any bank runs on Citi so the sheeple don't seem to mind.  Of course, if you can't withdraw cash because Citi doesn't operate in cash, you can't have a fiat run on the bank.

Can you have a digital run on a bank?  Why transer funds to another bank that doesn't operate in cash?  Plus, the move would flag you at the Stasi level...

fooked is the word that best describes this environment.

 

jb

Thu, 04/23/2015 - 22:20 | 6024685 ZerOhead
ZerOhead's picture

First they take away gold and silver as legal tender to trap you into bankster profiting debt based fiat that slowly becomes worthless.

Now they want to take your paper fiat so they can rob you even faster by trapping you in electronic accounts at negative rates.

The micro-chipped muttonheads will actually love it if they see their heroes use it in some new Hollywood movie.

And don't forget to take your mandatory annual vaccine shot with your name written on the vial or they will put you in jail.

Banksters Uber Alles

Thu, 04/23/2015 - 23:12 | 6024829 Stuck on Zero
Stuck on Zero's picture

May the CEO of Chase be dying of thirst in front of a drink vending machine that only takes cash.

Thu, 04/23/2015 - 23:34 | 6024873 waterwitch
waterwitch's picture

Bullets, bullion, and booze...

Fri, 04/24/2015 - 01:56 | 6025053 Haus-Targaryen
Haus-Targaryen's picture

The day the United States bans cash is the day I recommend my friends and family leave.  Once a government can track & control 100% of the monetary supply, your other remaining liberties are next on the chopping block.  

I imagine that most of my friends and family will scoff and bang on about American exceptionalism, the American dream, blah blah blah.  Most will ignore me.  I have a feeling one or two people if not doign it, will seriously look into it.  

I am telling you guys, have a way to get out.  I guarantee you all -- if the Bolsheviks & the Nazis could have done this they certainly would have.  Tyranny is coming to the United States.  Plan accordingly.  If you sit around and wait for this to "get bad" before making contingency plans to get out and go abroad, it is truly too late.  

RIP USA

EDIT - They'll ban cash first. The USA's various black markets and industries will switch over to Phys silver and gold for trade.  It'll send the price up as those at the top start hoarding AG and AU.  Thereafter, da gub'ment will make a few nifty documentaries about this, and then ban Gold and Silver "for the children" to stop the drug cartels and markets.  They'll ban cash first, then AG & AU.  

For those of you who ever paid for AG or AU with a CC, Debit Card, Check, PayPal, etc., etc., ever -- you are on a list.  Guaranteed.  Depending on your holding size and personal assets, you guys should *really* start looking for international bug-outs for you and your family.  

There are already Americans filing for POLITICAL ASYLUM in Western Europen countries every year.   

Fri, 04/24/2015 - 04:36 | 6025220 old naughty
old naughty's picture

Leave now, or it'll be too late soon,

with Jack Helm and all...

 

" and disallows the storage of "any cash or coins" in safe deposit boxes"

rest assure, au-ag will be included.

Fri, 04/24/2015 - 05:59 | 6025246 The Navigator
The Navigator's picture

Back some years ago, the Japanese faced "negative interest rates/charges against checking accounts" and they started saving their cash in their freezers or mattress safes.

Think I'll yahoo (I will not google anything anymore) those old articles and see if a dealership is available for the west coast.

https://search.yahoo.com/search;_ylt=AqaypLddAPhYFazZDVJKuOWbvZx4?fr=yfp...

Fri, 04/24/2015 - 08:47 | 6025519 old naughty
old naughty's picture

Please do share them, thanks.

Fri, 04/24/2015 - 00:51 | 6025004 nailgunnin4you
nailgunnin4you's picture

Only the economically illiterate fear a cashless society. When reason and logic are employed it is obvious that if the state achieved a cashless society today, the people will be bartering tomorrow, with an alternate black market currency created by and for the people being favoured and used the day after that.

 

Anyone who can't see this has the foresight of an economist.

Fri, 04/24/2015 - 02:37 | 6025149 NeoRandian
NeoRandian's picture

I can't barter with someone on the other side of the world, and they've designed it so that the other side of the world is where all my stuff comes from.

Fri, 04/24/2015 - 02:52 | 6025161 Seek_Truth
Seek_Truth's picture

All actual necessities are (or can be made) local: food, clothing, shelter.

All modern luxuries are (or can be made) local: energy, communications, weaponry, medicine.

Everything else is unnecessary luxury.

 

Fri, 04/24/2015 - 03:16 | 6025174 El Vaquero
El Vaquero's picture

The problem isn't that you can't grow food, the problem is that you neighbors think that steaks grow on fucking trees in the back of the fucking supermarket.  OK, not really, but start asking people where a steak comes from and  some people will know that it moos, and a lot will say that it comes from a store.  People don't think about where their food comes from.  People don't know how complex the supply chains are.  To anybody who advocates revolution, ask them this question: Where was your last meal produced?  In this particular case, I will tell you that my answer is "I don't know," but I also could change that a lot quicker than most.  I save way the fuck too much seed.  Well not really, but we've all gotta get along in today's world.

Fri, 04/24/2015 - 09:39 | 6025696 Billy Sol Estes
Billy Sol Estes's picture

The metal spring I found wrapped in my last (I do mean last) Smithfield Farms pork loin leads me to believe it was from China.

Fri, 04/24/2015 - 13:41 | 6026870 El Vaquero
El Vaquero's picture

LOL!

 

But even if it wsn't from China, Smithfield is still owned by the Chinese.

Fri, 04/24/2015 - 02:58 | 6025166 nailgunnin4you
nailgunnin4you's picture

As the other dude said there is nothing you need that can't be made here. Think change.

Fri, 04/24/2015 - 08:11 | 6025395 whirling tword ...
whirling tword freedom's picture

"May the CEO of Chase be dying of thirst in front of a drink vending machine that only takes cash."

 

How about slipping in a puddle of AIDS and dying of ass cancer???

Thu, 04/23/2015 - 23:16 | 6024834 Handful of Dust
Handful of Dust's picture

I predict Chase's "War on Cash" will be as successful as Uncle Sam's "War on Drugs."

Thu, 04/23/2015 - 23:53 | 6024905 jeff montanye
jeff montanye's picture

since the feds don't want to win the war on drugs (they will be unemployed) any more than they wanted to win the cold war or the global war on terrorism (ditto), you may very well be right.

Fri, 04/24/2015 - 04:49 | 6025226 old naughty
old naughty's picture

one should perhaps look at connection of dots by others:

Signs That 'The Elites' Are Feverishly Preparing For Something Big

Fri, 04/24/2015 - 07:26 | 6025313 N2OJoe
N2OJoe's picture

The differenece is they do want to win the war on cash because none of them would lose their jobs. In fact, it may lead to them all getting a raise because they can siphon a cut from the ENTIRE pie.

Fri, 04/24/2015 - 00:54 | 6025009 MrPalladium
MrPalladium's picture

Millions of people will start using silver rounds.

Fri, 04/24/2015 - 07:27 | 6025316 N2OJoe
N2OJoe's picture

Is it too much to hope that they would use lead and brass rounds instead?

Fri, 04/24/2015 - 02:57 | 6025165 g'kar
g'kar's picture

The war on drugs is only to keep the prices up, the war on cash will mean cash (dollars, gold, silver, etc...) will be king.

Thu, 04/23/2015 - 23:47 | 6024897 McMolotov
McMolotov's picture

Everyone smell that? It's called desperation. They know their little system of graft and tyranny is getting wobbly and could tip over at any time. Expect even more acts of desperation as we get closer to the day when it all comes tumbling down.

"The more you tighten your grip, Tarkin, the more star systems will slip through your fingers."

Shit's starting to get mighty slippery, in my opinion.

Thu, 04/23/2015 - 21:04 | 6024512 TahoeBilly2012
TahoeBilly2012's picture

We need a purge but what we are getting is a surge...

Thu, 04/23/2015 - 21:38 | 6024602 McCormick No. 9
McCormick No. 9's picture

M O T B

Thu, 04/23/2015 - 22:43 | 6024654 MonetaryApostate
MonetaryApostate's picture

Well, I've been trying to warn people for over a year now, haven't really had much of an audience, & I've been talking about cashless societies & bank bail-ins for quite a long time...

http://galeinnes.blogspot.com/2014/06/preparing-for-cashless-society.html    

I Wrote that article well over a year ago, published it last year on my blog.  You can trust my information, it's not mindless psycho-babble, it's careful thought out conclusions that I've dervied from years of research & study...  I see what these globalist / elite are doing, every day we talk about it in on social forms with critical thinkers, and it's paramount that we work all together to inform one another FAST!  (So pass the word on please!)

 

Fri, 04/24/2015 - 00:38 | 6024976 turnoffthewater
turnoffthewater's picture

Watch for layoffs at the CIA, to be called downsizing due to less imminent threats

Thu, 04/23/2015 - 20:43 | 6024415 AlaricBalth
AlaricBalth's picture

From the Federal Reserve
http://www.federalreserve.gov/faqs/currency_12772.htm

Is it legal for a business in the United States to refuse cash as a form of payment?

Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency [including Federal reserve notes and circulating notes of Federal reserve banks and national banks] are legal tender for all debts, public charges, taxes, and dues."

This statute means that all United States money as identified above is a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law which says otherwise.

So, legal tender in the form of FRN's (cash) are considered a valid and legal offer when paying a debt to a creditor. Therefore technically banks refusing cash for auto, mortgage or credit card debts are in violation of Federal Code.

However, since when has the rule or law applied to our major banks? It ain't justice, it's "just us"!!!

Thu, 04/23/2015 - 20:54 | 6024476 Urban Redneck
Urban Redneck's picture

Doesn't a debt usually involve a contract?

And if you look at the contract that creates the debt there is clause that reads, "This contract shall be goverend by laws of [insert STATE name here]", and NEVER "This contract shall be goverend by laws of The United States of America".

Thu, 04/23/2015 - 20:55 | 6024482 El Vaquero
El Vaquero's picture

Federal law always trumps state law every time. 

Thu, 04/23/2015 - 20:57 | 6024489 Urban Redneck
Urban Redneck's picture

And where in the USC is the Federal Commercial Code?

Thu, 04/23/2015 - 21:03 | 6024508 El Vaquero
El Vaquero's picture

It is not in the USC, but it would still be considered law.  While it is complete bullshit, congress has delegated a lot of its legislative powers to various alphabet soup agencies.  You can still be thrown in prison for violating regulations not passed by congress, but passed by various alphabet soup agencies.  And besides, 31 USC 5103 states that FRNs are legal tender. 

Thu, 04/23/2015 - 21:23 | 6024571 Urban Redneck
Urban Redneck's picture

It certainly is bullshit, especially when the Federal government effectively rewrote private contracts between parties within a State when FDR outlawed gold settlement.  But the Bankers buy the laws and the regulations, and they like the ability to ignore or defy the Congress-critters when they get uppity or jurisdiction shop when indebting the serfs.  

Of course if they go this non-paper/non-coin route, it will raise some interesting theoretical legal questions about the continued applicability of the coinage clause prohibition on States.  e.g. Why couldn't the States have their own e-bonds as digitally circulating medium of exchange?  (as long they don't call it a "currency" or "money")

Thu, 04/23/2015 - 22:03 | 6024662 MonetaryApostate
MonetaryApostate's picture

Your question & much more can be answered here...   https://youtu.be/7qIhDdST27g  (That's a legit YouTube Video Link, don't fear)

It's WELL WORTH the time to watch the whole video, it really will put things into clear perspective for you, especially who really controls America... (& the world for that matter)

Thu, 04/23/2015 - 21:56 | 6024652 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

A man must be honest to live outside the Law.

Thu, 04/23/2015 - 22:05 | 6024670 MonetaryApostate
MonetaryApostate's picture

Even honest people are killed every day ali, you must be wise to live in this ever changing world, your ability to adapt to change will be so very critical soon...

(In other words learn as much as you can about survival, seriously, and fast too!)

Thu, 04/23/2015 - 22:34 | 6024734 Beowulf55
Beowulf55's picture

Federal law always trumps state law every time.

Tell that to Colorado and Washington State.  Hemp is the new flag of Freedom.....

Fri, 04/24/2015 - 00:07 | 6024921 Trucker Glock
Trucker Glock's picture

Feds are choosing not to enforce Federal law in those states.  DEA could raid every dope shop and grower and take everything they own.  The SCOTUS said so in Gonzales v. Raich.  Interstate Commerce clause trumps state law.

http://en.m.wikipedia.org/wiki/Gonzales_v._Raich

Fri, 04/24/2015 - 00:22 | 6024940 Trucker Glock
Trucker Glock's picture

In fact, if a right-wing conservative were to become President, he/she could send DEA and ATFE into those states to crush the "legal" marijauna market.  I don't know the ATFE regs on owning firearms AND dealing, growing, or possessing dope.  But, anyone who smokes dope and answers "No" to question 11e on ATFE Form 4473 is technically lying, even if dipe is legal in their state.  And, if DEA decided to start making felony arrests in those states, say bye bye to your "right" to own a firearm.  If I lived in one of those states and smoked dope, I wouldn't advertise it.  It is still a Federal crime.

I don't agree with the rulz, but people should understand them so they can stay out of trouble.  Discretion!

Fri, 04/24/2015 - 00:37 | 6024971 pitz
pitz's picture

Yeah try flying into Denver from out of the country with your bag of weed.  It *will* be seized by US Customs and they will throw you in jail for a federal crime.

Fri, 04/24/2015 - 02:43 | 6025154 El Vaquero
El Vaquero's picture

Trucker Glock is correct.  CO and WA can say it's legal all they want.  That, in effect, is saying "we're not going to enforce this," which is a far cry from saying "we're going to stop you [the feds] from enforcing this."  If you get arrested in CO by the feds for marijuana possession, and you go into the federal court and argue that it is legal under CO law and therefore you should walk, your best hope will be jury nullification.  If you can't get that, you're probably fucked six ways from Sunday.  Marijuana prohibition is a law that the feds are choosing not to enforce in those states right now.  They could change their minds, and it would crush so called legalization in those states.

Fri, 04/24/2015 - 02:55 | 6025164 El Vaquero
El Vaquero's picture

It seems that all of my downvoters are unaware of US legal history.  If there is a conflict between state and federal law, and there is no clear cut constitutional issue that nullifies the federal law (yes, that's a fucking loaded like fuck statement these days,), federal law is what will be followed, period.  You can argue that this is not the way it should be until you are blue in the face, but if you wind up in a courtroom, all of those arguments will be brushed aside like nothing.  Federal law trumps state law, regardless of whether or not you think it should.  That is how our legal system works.

Fri, 04/24/2015 - 10:21 | 6025839 Urban Redneck
Urban Redneck's picture

The way the US legal system works is there is over two hundred years of precedent of the big guy (and the State) fucking over the little guy, and stare decisis is the doctrine of the courts (thank you evil British shysters, since the one redeeming feature of the Common Law tradition - property and mineral rights - are now only granted to TPTB, precisely because of stare decisis) which provides TPTB with a nearly bottomless well of bad decisions that they can use as justification to prevent uppity serfs from ever finding justice through the Just Us system (it's legal equivalent of compound interest in the usury business).

If you wind up in court (at your own expense) trying to argue that because you once offered cash legal tender to settle a contract of indebtedness-- you can argue until you are blue in the face that the debt should be extinguished... but the argument will be brushed aside like nothing because the Creditor is going to use a combination of State law and regulations (both State and Federal) to argue that they too were acting in good faith and in compliance with applicable governing law(s).  So what's the Judge actually going to do?  Realistically the judge will offer to cancel the indebtedness if YOU PAY the amount of the indebtedness to the Court, in a medium of exchange acceptable to the Court, and if some wise ass tinfoil hatter tries lecturing the Judge on what is "legal tender" in His own Courtroom - then that fucktard will screw the rest of us because there will be another bad precedent on the books for next time.  Then the Court will turn around and transfer the payment received from the plaintiff to the defendant, and (if you are lucky) the judge will have nullified any additional interest and penalties the sought by Creditor/Defendant since the original "good faith" offer was made and refused.  Then the Creditor/Defendant will file a 1099 with its tax return claiming a write off/loss  for the difference between what the Creditor received from the Court and whatever the Creditor thinks he is owed or wants to screw you for, and then we all pay the Bank for it's "loss" and you pay the IRS for Bank's "generosity" in "forgiving" indebtedness. 

That's how our legal system has been corrupted by the banks (and other monied interests).

 

 

 

Fri, 04/24/2015 - 13:33 | 6026825 El Vaquero
El Vaquero's picture

Negative.  If you have proof that you offered to pay the debt with cash, you can get the debt extinguished, or at least the amount of it that you offered to pay.  Again, I've been in court against a TBTF and I've won, without an attorney.  The system is still unjuust in many ways, but it is not as stacked against us as many on ZH think it is.  Most of the injustice involves using the system to get around the system.

Thu, 04/23/2015 - 20:57 | 6024488 Kirk2NCC1701
Kirk2NCC1701's picture

Sec.31 USC 5103: "United States coins and currency [including Federal reserve notes and circulating notes of Federal reserve banks and national banks] are legal tender for all debts, public charges, taxes, and dues."

That says nothing of private settlement of business or commerce transactions. If it's not forbidden, it's allowed -- by default -- and any form may be used, including barter.

Private citizens have the right to settle their transactions ANY way they wish, no matter what Big Bro wishes or dictates.

Thu, 04/23/2015 - 23:19 | 6024765 MonetaryApostate
MonetaryApostate's picture

The problem with Barter & Trade is supply, that's how they defeated the Germans, they cut their supply lines off....

With all of our goods more or less coming out of China & everyone shopping at ChinaMart, it wouldn't take long for people to run out of supplies...

As the supplies dwindle some bozo will say to themselves, "Screw it, I'll just shoot some people to get some supplies", and then we are back to the wild west days...  https://youtu.be/3x2ABSAMVno

Which of course would result in Martial Law, game over...

Fri, 04/24/2015 - 01:00 | 6025020 turnoffthewater
turnoffthewater's picture

So no more reserve ratios 1=1 and no more 6% interest on usury.

Fri, 04/24/2015 - 12:20 | 6026450 LostAtSea
LostAtSea's picture

you guys talk like there is still a rule of law.  hahee, Holder & company have demonstrated there is no such thing.

Thu, 04/23/2015 - 20:37 | 6024418 El Vaquero
El Vaquero's picture

Legal tender applies to DEBTS.  You can get a debt discharged if the debt is denominated in dollars and they refuse to accept dollars. 

Thu, 04/23/2015 - 20:48 | 6024455 Urban Redneck
Urban Redneck's picture

Dude, you know otherwise (without at least one of several possible qualifiers to that sentence)... Commerce Clause & 10th Ammendment.

Thu, 04/23/2015 - 21:12 | 6024541 El Vaquero
El Vaquero's picture

The commerce clause is abused like fuck and the 10th amendment is functionally dead.  It is not enforced anymore.

Thu, 04/23/2015 - 21:54 | 6024607 Urban Redneck
Urban Redneck's picture

And if the Federal Reserve recalls all paper Federal Reserve Notes, what are the chances of getting a corrupt court to enforce some scribble about legal tender on a note that is no longer honored by the issuing institution? 

In the mean time Chase's lawyers didn't undertake this "experiment" without signifcant due dilligence.  And while certain extreme aspects of this "experiment", like the notion of not being able to pay a credit card bill (which is most certainly a debt) with Federal Reserve Notes is insane and seemingly illegal, I don't have a Chase card or a Chase account so I don't know what rights the idiots who do have already signed away... 

EDIT: Unless Chase Bank of Delaware has branches in Ohio, then there is a very easy way for Chase Bank, (not Delaware) to get away with this, and a very expensive way for Cleveland Chase Customers residents to say FU with FRNs.  

Fri, 04/24/2015 - 02:21 | 6025126 El Vaquero
El Vaquero's picture

I've dealt with a TBTF in a courtroom setting.  Believe me, due dilligence is a foreign concept to them.  Chase is probably relying on people being ignorant, and it'll probably work very, very well. 

Fri, 04/24/2015 - 04:57 | 6025231 Urban Redneck
Urban Redneck's picture

TBTF is a big and diverse beast.  While one silo's job may be to simply show up, and pray that a defendant who has actually bothered to read the law doesn't... there are others who are better paid for the work they do.  During my time there were the guys who drafted/lobbied for Reg NMS and gave us HFT, after finally milking GLBA for all it was worth.  The guys who were more recently tasked with sheparding Dodd-Frank certainly did their due diligence job, and that 2000 page monstrosity will be a gift that keeps on giving for decades.  Where it gets sloppy is at the bleeding edges when they aren't specifically buying laws and regulations, such as when they simply paid Covington & Burling for all that opinion work on title automation, and we wound up with Linda Green... because nothing must be allowed to stop Progess! or earnings growth through securitization.

Fri, 04/24/2015 - 13:35 | 6026839 El Vaquero
El Vaquero's picture

They get these monstrosities passed to squash competition, then they still don't follow the law.  This isn't due dilligence, it is flat out corruption.

Thu, 04/23/2015 - 21:42 | 6024608 McCormick No. 9
McCormick No. 9's picture

The 10th amendment has been dead since April 12, 1861. That's 154 years, basically.

Fri, 04/24/2015 - 01:32 | 6025058 Trucker Glock
Trucker Glock's picture

10th Amendment was DOA in 1791.  Just took some time for Congress and the SCOTUS to break the bad news to the States.

Fri, 04/24/2015 - 00:41 | 6024983 Xploregon
Xploregon's picture

Stackers is correct on Chase not accepting cash deposits into a Chase account if you don't have a Chase account. My son is military. He needed some money to help out on new uniforms. I took $220.00 cash to Chase bank and they wouldn't take it unless I came back with a check. F**k'um.

Fri, 04/24/2015 - 08:06 | 6025403 ZeroPoint
ZeroPoint's picture

Tell him to switch to USAA. It's the best credit union you can belong to, for enlisted people and their families.

Thu, 04/23/2015 - 22:18 | 6024698 hannah
hannah's picture

'These dumbfucks are playing with fire.  But first they need to get congress to pass a law banning cash.'....no no no. first they need to ban guns or limit ammo...

Fri, 04/24/2015 - 02:24 | 6025130 El Vaquero
El Vaquero's picture

That is a flashpoint.  It was a flashpoint in 1775 and it is today.  Look at how many CT gun owners didn't register their "assault weapons."  25 years ago, gun owners were more forgiving.  Now, a lot of us aren't going to willingly give up one more inch, period.  If they ban them, it's on like Donky Kong, and I think that's been made pretty clear to them.

Fri, 04/24/2015 - 00:56 | 6025015 boattrash
boattrash's picture

Well put E.V.   Pb = New Currency

Fri, 04/24/2015 - 09:04 | 6025578 Theosebes Goodfellow
Theosebes Goodfellow's picture

~"These dumbfucks are playing with fire."~

These asshats sit down on Wall Street and think this is going to play. Well, it may play Manhattan, but it sure as shit ain't going to play in Peoria. But Chase isn't driving this, the Feds, (namely the IRS), are. The Treasury Dept. is having their biggest boy carry this water first.

Fri, 04/24/2015 - 10:51 | 6026009 GoldenGeezer
GoldenGeezer's picture

Creditors must accept FRNs as payment for debts but they do not have to accept the FRNs in the form of cash (according to the Treasury).

You may be able to defend against a foreclosure or a default by proving that the bank is changing the terms of your loan if it is stated in your contract that you can make payments at a branch in cash. Otherwise your fucked.

"The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues."

"This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services"

http://www.treasury.gov/resource-center/faqs/Currency/Pages/legal-tender...

 

Thu, 04/23/2015 - 20:15 | 6024353 remain calm
remain calm's picture

Wait a minite. WTF am I suppose to put in the garder belt at the nudie bars. I am beginning to think these pencil dick economist are a bunch of homosexuals and they dont want this beer drinking, women lover to have fun. What a bunch of fucking losers, so this is how they get their revenge on me for making fun of their Snoopy lunch boxes in 5th grade. So this is it.

Thu, 04/23/2015 - 20:23 | 6024380 El Vaquero
El Vaquero's picture

Black markets would bypass these cocksuckers and fuck them over royally.

Thu, 04/23/2015 - 21:20 | 6024564 willwork4food
willwork4food's picture

Not if "they" owned most of the black markets.

Thu, 04/23/2015 - 21:39 | 6024604 D-2
D-2's picture

My vote for post of the day.

Thu, 04/23/2015 - 22:08 | 6024679 MonetaryApostate
MonetaryApostate's picture

They assassinated this guy & his whole family over this movie, watch the trailer it's paramount...    https://youtu.be/Gy7FVXERKFE

(He sees clearly what you aren't, Martial Law OWNS ALL MARKETS)

Fri, 04/24/2015 - 03:08 | 6025168 El Vaquero
El Vaquero's picture

Martial law will fall apart if it is applied to the whole country.  It would probably work for a few major cities, but applying it to the whole country would spread them way to thin.  Think in terms of resources, not in terms of politics.

Fri, 04/24/2015 - 00:38 | 6024977 pitz
pitz's picture

Maybe the ladies will have a card reader installed on their bodies somewhere.  Come to think of it.... 

Fri, 04/24/2015 - 01:01 | 6025022 MrPalladium
MrPalladium's picture

And how do those of us with kids who do not go to girlie bars pay a baby sitter?

Fri, 04/24/2015 - 05:06 | 6025234 Urban Redneck
Urban Redneck's picture

You mean aid and abet criminal tax evasion by your baby sitter?  And that's not the baby sitter's only crime, their unreported cash income from babysitting also counts towards their parent(s) Obamacare subsidy calculation.  

The Feds can now throw your baby sitter and his or her family in jail for years thanks to you and your "cash"... 

(unfortunately I'm not being sarcastic)

Thu, 04/23/2015 - 22:08 | 6024681 Boubou
Boubou's picture

Probably that's right.This is mainly aimed at removing any remaining place for privacy in your life. Every move you make that involves communications, walking down the street  , travel,  all  transactions other than cash can be tracked and reported in milliseconds.

ZH and such are handy places where all the animals gather and can be watched or rounded up at a moment's notice. 

Thu, 04/23/2015 - 22:52 | 6024783 Real Estate Geek
Real Estate Geek's picture

They can't have it both ways.  A cashless society and EMP are mutually exclusive.

Fri, 04/24/2015 - 02:26 | 6025133 El Vaquero
El Vaquero's picture

IMO, that's secondary.  The real reason is that they want the ability to have negative rates without bank runs.  They're that desperate. 

Fri, 04/24/2015 - 07:46 | 6025348 duo
duo's picture

I'll repeat a story from a year ago.  I had to get a cashier's check at BofA a year ago.  I was 12th in line.  EVERYBODY in front of me was cashing checks, not depositing.  EVERYONE walked out with a minimum of $400 (the hotel maid) with the average I estimate to be $1200, and one guy left with $8000.  The underground economy is huge.  Banning cash transactions will make it larger and take it further underground.

Landlords being paid in cash.  Doctors being paid in cash.  Day care paid in cash. It's happening now and taxes aren't being paid.  Outlaw cash and it will be Tide, .40 cal and 9mm rounds, chocolate bars, cigarettes, or pinky rings.

 

Thu, 04/23/2015 - 20:07 | 6024323 barliman
barliman's picture

 

Right in front of you ... but none of you can see it?

Who uses CASH the most?

Hints:

  1. They create more jobs they any multi-national.
  2. You, at the very least see - if not KNOW - someone who handles large amounts of CASH, every day.
  3. If you want people dependent upon the State and the people who run the Deep State to maintain control - these entrepreneurs who CAUSE economic planning disruptions MUST GO!

 

Small businesses have been oppressed with Obamacare and every other means you can think of ... but THEY represent the CASH loose in the system and all the "randomness" it can cause.

Thu, 04/23/2015 - 21:19 | 6024563 black calx
black calx's picture

That's true I make it a point to only pay in cash at every mom and pop joint I go to. That way they can bypass the stupid surcharge on the swipe machine. Every little bit helps.

Fri, 04/24/2015 - 06:47 | 6025267 Winston Churchill
Winston Churchill's picture

Biz gets charged to deposit cash at the bank.Been that way for fifty years I know about.

Thu, 04/23/2015 - 23:21 | 6024683 MonetaryApostate
MonetaryApostate's picture

Yes, that's part of the plan, it's obvious the austerity & trickle down economics was all by design, just like the insane inflation of all NECESSARY commodities which is coming....

Can you just smell the collusion?   http://www.trefis.com/stock/spy/articles/290929/worsening-drought-means-...

Fri, 04/24/2015 - 00:14 | 6024930 benb
benb's picture

And the drought is also part of the design. It's called weather modification and is part of the Silent War against the American people.

Fri, 04/24/2015 - 09:44 | 6025708 Billy Sol Estes
Billy Sol Estes's picture

My favorite Banh-Mi eatry is cash only and charges no tax. Love those guys even though only one person in the entire building knows english.

Fri, 04/24/2015 - 08:53 | 6025547 pazmaker
pazmaker's picture

Mark of the beast

Thu, 04/23/2015 - 19:41 | 6024228 Condition 1SQ
Condition 1SQ's picture

ROFL.  You have to appreciate the irony of this.  Fiat currency shoved down our throats when the Fed was created, but now the paper form of that fiat currency is too restrictive, so it's time to even dispose of that and just go to electronic ledgers that can be fudged.  How fucking dumb do they think we are?

Thu, 04/23/2015 - 19:45 | 6024245 SMG
SMG's picture

How fucking dumb do they think we are?

 You really don't want the answer to that question.

Thu, 04/23/2015 - 21:49 | 6024633 McCormick No. 9
McCormick No. 9's picture

RFID vs BIOMETRICS:

Biometerics have a big problem- the digital form of them can be stolen. Unlike a password, which can be changed, a stolen biometric cannot be changed. It is a digintal form of your fingerprint or iris, etc, and you can't change that. For identity theives, biometrics are manna from heaven.

Ah, this is where, in the betamax war for tech supremacy, the RFID will rule. RFIDs are implantable, thus mimicing the best aspects of biometrics, which is that they are a part of you. Well, RFID chips can be a part of you as well! If your RFID number gets stolen, the chip can be reprogrammed.

It's brilliant, and it's why technology will go with RFID and not biometric.

What does this have to do with the outlawing of cash? I think you know.

Thu, 04/23/2015 - 22:16 | 6024691 MonetaryApostate
MonetaryApostate's picture

Paypal Wants Brain Chips to Replace Passwords   https://youtu.be/z19V6sm17wg

Thu, 04/23/2015 - 19:49 | 6024253 Tinky
Tinky's picture

Very – and look around, who can blame them, really?

Thu, 04/23/2015 - 19:57 | 6024278 mccvilb
mccvilb's picture

Taxation by the Fed. Cuts out the middle man, aka the government.

Thu, 04/23/2015 - 22:19 | 6024701 MonetaryApostate
MonetaryApostate's picture

It's much much bigger than that, people will be on a work or starve system worldwide, and most won't see the cashless societies for what it will bring until it's already reality.

(Considering how many disabled & too old to work there are out there, it's going to be really really hard on some families...)

It really does make you wonder why they teach journalism should never touch upon the future, the answer to that is because it's speculation, but it also risks exposing secrets!

Thu, 04/23/2015 - 20:15 | 6024355 Vendetta
Vendetta's picture

Its not about how dumb they think we are, its about what they can get away with with full blessing of a corrupt government.

Thu, 04/23/2015 - 20:29 | 6024400 crisrose
crisrose's picture

The corrupt government run by corrupt politicians the brain dead keep voting into office???

Thu, 04/23/2015 - 21:05 | 6024518 sleigher
sleigher's picture

There is no government.  Corporations acting in a private capacity.  Ask the N. Carolina judge who has said so on the record.

http://rayservers.com/blog/north-carolina-judge-ridgeway-rules-govt-agen...

 

Thu, 04/23/2015 - 22:27 | 6024714 MonetaryApostate
MonetaryApostate's picture

The US Government is a corporation, I thought this was common knowledge by now....

https://www.youtube.com/results?search_query=us+government+is+a+corporat...

(There are A LOT of videos on this subject, the real question is who are the big corps owned by?)

https://youtu.be/7qIhDdST27g

Fri, 04/24/2015 - 00:38 | 6024975 stacking12321
stacking12321's picture

CBN? christian broadcasting network?

hahaha, good one, bro!

you had me going til i saw pat robertson's wrinkly old carcass trotted out asking "what treasures are hidden in the bible?"

that's 5 seconds i never get back, down arrow for you, but good one, you got me there

Fri, 04/24/2015 - 01:44 | 6025079 Trucker Glock
Trucker Glock's picture

"How fucking dumb do they think we are?"

The reality is, they know how fucking dumb most people are.

Thu, 04/23/2015 - 19:43 | 6024238 Baldrick
Baldrick's picture

need confirmation from a lawyer, but i think if they refuse a cash payment for a debt then the debtor is off the hook? on frns it does say "this note is legal tender for all debts, public and private."

Thu, 04/23/2015 - 19:59 | 6024286 weburke
weburke's picture

plus, the power guys run the drug world, and for that to work on the streets, cash of course. 

When they have credit cards that cant be forged so very easily, well then they will have a tool.

Thu, 04/23/2015 - 22:53 | 6024732 MonetaryApostate
MonetaryApostate's picture

They don't care about going to Zero bro, THEY OWN ALL THE RESOURCE PRODUCING ASSETS !!!  (Food, Water, Electricity, etc. etc., and that's what they are doing with the excessive cash in the banks!)

https://youtu.be/-qRVm7peoko    <<< You should watch this too, the big dogs are being nice enough to warn you of what's coming...

 

Fri, 04/24/2015 - 07:48 | 6025350 duo
duo's picture

Just don't drive in Wisconsin or South Texas with all that money in your car.

Thu, 04/23/2015 - 19:51 | 6024258 thinkmoretalkless
thinkmoretalkless's picture

"Rules....What Rules?!" "Laws.....What Laws?!" They are what we say they are.

Thu, 04/23/2015 - 22:56 | 6024741 MonetaryApostate
MonetaryApostate's picture

No, they are written by teams of lawyers who work for the corporations, who are controlled by the powerful elite....

(The Oh old OLD Money runs the show...  Of course money was power, but not in the new world, resources = power tomorrow, & that means those who control the big corps like Cargill, GE etc, are going to be the mega power holders of the future, for certain...  Patents also play a huge role as well...)

Rules and Laws only have power if they are enforced by Military, Police, and/or Private Military Contractors / Guards..(Which has become the new way.)

 

Thu, 04/23/2015 - 21:57 | 6024647 fascismlover
fascismlover's picture

US Federal Law, Constitution, Common Sense..these are all things that quietly slipped away and they do not appear to matter anymore unless it serves the state.  

Where this is all headed is much worse than what Orwell or Huxley could ever have a wet nightmare about.  Worst part of it is, there will be no "enemy" nation to escape to when it gets rolling.

Thu, 04/23/2015 - 22:41 | 6024748 MonetaryApostate
MonetaryApostate's picture

The State & Federal Government only retain power as long as they can "Pay the bills"  (See Detroit, perfect example), when cash becomes trash, oh how the tables will be turned completely!!!  Don't you hear them screaming over the TTP & the TTIP yet?  You know the ones they are about to fast track through the legislative process, basically Corporations will be in power tomorrow....

https://youtu.be/J23zolfwkP8   <<< Obviously some people cleary understand what's in these trade agreements...  (NOTHING GOOD!)

Thu, 04/23/2015 - 22:20 | 6024703 lincolnsteffens
lincolnsteffens's picture

I always thought that it was against the law to refuse payment in "legal tender".  All I can say is "FUCK these thieves that want to steal as much as they can and force you to do do what ever they demand". I would advise not doing business with any bank that refuses to accept cash. The Federal Reserve creates the cash and aren't all US banks part of the Federal Reserve System? WTF they won't take their own Federal Reserve Notes for what you owe? Maybe they understand that their "legal tender" is just debt obligations and not money!

Thu, 04/23/2015 - 23:22 | 6024844 Handful of Dust
Handful of Dust's picture

I have never met a lawyer, doctor, engineer, car repairman, etc to refuse my cash to pay my debt. There has to be more to this then we are reading here. What else will Chase do next? The other shoe to drop, so to speak.

Fri, 04/24/2015 - 00:25 | 6024942 The central planners
The central planners's picture

If the goverment considers you a criminal for holding currency imagine what you are at the eyes of the gov if you are a gold or silver stacker?

Fri, 04/24/2015 - 03:18 | 6025177 Tall Tom
Tall Tom's picture

THIS NOTE IS A LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE.

 

Attmept to pay your Credit Card balance in cash.

 

Videotape and record the attempted transaction.

 

Sue Chase and get the debt dismissed throigh a judgment.

 

If someone refuses payment then there is no debt.

 

Fuck you Chase

 

 

Fri, 04/24/2015 - 07:45 | 6025344 Immortal Flatulence
Immortal Flatulence's picture

"This note is legal tender for all debts, public and private" will change to "This credit card is obligation to accept debt enslavement"

 

Thu, 04/23/2015 - 19:28 | 6024182 Van Halen
Van Halen's picture

'. . . and enter the new barter economy shortly thereafter.'

Immediately followed by a proclamation declaring bartering of any kind to be 'unlawful'.

Stage two: raids on 'unlawful gatherings for the purpose of trade by bartering' by heavily-armed ATF/SWAT/DHS/DEA/drones/Bureau of Indian Affairs/Department of Energy troops

Stage three: threats, fines, arrests, incarcerations, death, submission. For our own good.

Thu, 04/23/2015 - 19:33 | 6024202 RafterManFMJ
RafterManFMJ's picture

...do remember, though, that only conspiracy nut jobs believe any of this shit is related and planned.

Amerikan Booberamus, circa 2018: "Kneel at the side of that mass grave? Well, OK! Don't want to refuse and be one of those conspiracy whack jobs!"

Thu, 04/23/2015 - 19:39 | 6024224 Van Halen
Van Halen's picture

"...do remember, though, that only conspiracy nut jobs believe any of this shit is related and planned."

Stupid wacky conspiracy nut jobs! Imagine thinking our government is working overtime to run us all into the ground and take over the interests of -

Hey! Dancing With The Stars!

Unnnnggghhhh....

Thu, 04/23/2015 - 19:44 | 6024240 Karl-Hungus
Karl-Hungus's picture

Except if it ever comes to that, it won't be Amerikan booberamus kneeling beside that mass grave, it will be people like us. Amerikan booberamus, by definition, will do as he is told and not ask questions, and won't find himself there.

Fri, 04/24/2015 - 00:36 | 6024969 Franktastic
Franktastic's picture

stage four: everyone dies, they die we die.

 

stage five: earth wins

Thu, 04/23/2015 - 20:46 | 6024444 lostintheflood
lostintheflood's picture

and enter the new barter economy shortly thereafter.

 

that's what this guy said...

 

http://www.thefallingdarkness.com/2015/04/22/the-cashless-society-is-goi...

Thu, 04/23/2015 - 21:33 | 6024588 snr-moment
snr-moment's picture

I like!!!  So the few remaining bottles of my post 2008 Blanton's stash will appreciate and cover my, er, inventory losses?   Woohooo!!!!!

Thu, 04/23/2015 - 22:04 | 6024666 williambanzai7
williambanzai7's picture

Furthermore, the only thing thaty really matters to them is transaction rent (processing fees), not irregularities.

Fri, 04/24/2015 - 03:21 | 6025179 escapeefromOZ
escapeefromOZ's picture

johngaltfla  The part that they do not tell you is that it only takes the opinion of same faceless Spook or or govenment employee to disablre yur account and then you can go and search for food in the garbage bins . Trust government employees to do the right thing ....... no way . When we will see a good civl war .... with bansters, dual passoport holders friend of Israel ,  and government official  shot ? 

Thu, 04/23/2015 - 19:05 | 6024123 Bastiat
Bastiat's picture

Man, they are locking this thing down as fast as they can.  The pace makes me think it comes unglued before long.

Thu, 04/23/2015 - 19:17 | 6024153 Bay of Pigs
Bay of Pigs's picture

Banning cash = No freedom

Its that fuckan simple. End of the line for the country and all of us.

Thu, 04/23/2015 - 19:21 | 6024163 A Lunatic
A Lunatic's picture

The wages of their sin is death.......

Thu, 04/23/2015 - 20:02 | 6024301 InTheLandOfTheBlind
InTheLandOfTheBlind's picture

That same book also says the way of the usurer is death.  Too bad the apostate churches don't read it anymore.  

Thu, 04/23/2015 - 23:24 | 6024801 MonetaryApostate
MonetaryApostate's picture

Freedom is found in the 10th commandment.... (Though shall not want)

In the new world, there are going to be a whole lot of people "In want" of many things....

But first strike up the drums, the rich are going to magically turn Lead into Gold again....   

https://youtu.be/01-2pNCZiNk

@ Bay of Pigs, what makes you think this is going to be just the USA??? (Think again bro)

Thu, 04/23/2015 - 19:24 | 6024170 homme
homme's picture

Absolutely positively dead on.

Thu, 04/23/2015 - 19:24 | 6024173 Gambit
Gambit's picture

Fuck em.. and fuck no it aint end of the line.  We fight back, it is never end of the line until you are 6 feet deep. 

Thu, 04/23/2015 - 19:29 | 6024187 Van Halen
Van Halen's picture

No one is going to fight back as long as they have a couch, beer, TV, and a roof over their heads. This country is fat, dumb, and happy.

Thu, 04/23/2015 - 19:32 | 6024195 A Lunatic
A Lunatic's picture

Some of us fight back every day......

Thu, 04/23/2015 - 19:48 | 6024252 Bay of Pigs
Bay of Pigs's picture

Exactly. I have done everything I can to stay away from using banks in general.

They are really showing their true colors now. I dont see it working or ending well. 

 

Thu, 04/23/2015 - 19:58 | 6024282 Karl-Hungus
Karl-Hungus's picture

People are too enamored with plastic cards. I'm literally just about the only person I know tht ever carries cash around to pay for things, with the exception of my father. Most of them would just shrug their shoulders when they heard of this. 'Whatever, credit cards are easier to carry around anyway' which is why we are fucked. Exact sme response you get out of most people about NSA spying, unconstitutional searches, and miltary style policing. The vast majority of the American public richly deserves everything that happens

Thu, 04/23/2015 - 21:38 | 6024600 in4mayshun
in4mayshun's picture

I was in a grocery store when their "systems" went down. It was chaos. But alas, I walked out with food because I had physical cash.

Thu, 04/23/2015 - 23:02 | 6024810 MonetaryApostate
MonetaryApostate's picture

Can you even imagine a totally cashless society worldwide?    (Buh bye bye bank jobs)

(We are almost there now, but absolutely no cash will really piss off those dealers in the south, oh boy!)

Maximum Austerity, Inflation, Control, and that's the bottom line...

Fri, 04/24/2015 - 00:02 | 6024916 freedogger
freedogger's picture

Same here, it slows down the checkout girls so you can flirt with them.

Fri, 04/24/2015 - 02:17 | 6025122 Trucker Glock
Trucker Glock's picture

It slows them down because they can't make change without reading the register display.  And then they have to count currency to give it to you.  Meltdown.

Thu, 04/23/2015 - 20:13 | 6024343 Vendetta
Vendetta's picture

Fat and dumb yes, happy no.

Do NOT follow this link or you will be banned from the site!