This page has been archived and commenting is disabled.
Largest Bank In America Joins War On Cash
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:
- Abolish currency.
- Tax currency.
- 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 exceptions. Now 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.
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.
- 169990 reads
- Printer-friendly version
- Send to friend
- advertisements -


complete control of the money = complete ZWO tyranny 4 u donkey.
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"...
. . . and enter the new barter economy shortly thereafter.
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.
The NRA needs a bank.
Some credit card companies have already refused to deal with any firearms-related businesses.
Bartertown Bitchez.
Lb, Cu, Ag, Au.
Rice and beans, lots of rice and beans.
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.
How can they steal it if they don't get you to take it out of your mattress and put it in the bank ?
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.
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
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.
How is the drug trade going to operate?! LOL - Until that issue gets resolved, cash will always be around...
Hang all the bankers, do it today... They have taken our world to the brink of collapse due to greed... We need a purge...
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.
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
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
May the CEO of Chase be dying of thirst in front of a drink vending machine that only takes cash.
Bullets, bullion, and booze...
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.
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.
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...
Please do share them, thanks.
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.
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.
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.
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.
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.
LOL!
But even if it wsn't from China, Smithfield is still owned by the Chinese.
As the other dude said there is nothing you need that can't be made here. Think change.
"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???
I predict Chase's "War on Cash" will be as successful as Uncle Sam's "War on Drugs."
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.
one should perhaps look at connection of dots by others:
Signs That 'The Elites' Are Feverishly Preparing For Something Big
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.
Millions of people will start using silver rounds.
Is it too much to hope that they would use lead and brass rounds instead?
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.
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.
We need a purge but what we are getting is a surge...
M O T B
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!)
Watch for layoffs at the CIA, to be called downsizing due to less imminent threats
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"!!!
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".
Federal law always trumps state law every time.
And where in the USC is the Federal Commercial Code?
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.
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")
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)
A man must be honest to live outside the Law.
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!)
Federal law always trumps state law every time.
Tell that to Colorado and Washington State. Hemp is the new flag of Freedom.....
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
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!
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.
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.
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.
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).
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.
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.
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...
So no more reserve ratios 1=1 and no more 6% interest on usury.
you guys talk like there is still a rule of law. hahee, Holder & company have demonstrated there is no such thing.
Legal tender applies to DEBTS. You can get a debt discharged if the debt is denominated in dollars and they refuse to accept dollars.
Dude, you know otherwise (without at least one of several possible qualifiers to that sentence)... Commerce Clause & 10th Ammendment.
The commerce clause is abused like fuck and the 10th amendment is functionally dead. It is not enforced anymore.
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.
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.
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.
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.
The 10th amendment has been dead since April 12, 1861. That's 154 years, basically.
10th Amendment was DOA in 1791. Just took some time for Congress and the SCOTUS to break the bad news to the States.
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.
Tell him to switch to USAA. It's the best credit union you can belong to, for enlisted people and their families.
'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...
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.
Well put E.V. Pb = New Currency
~"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.
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...
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.
Black markets would bypass these cocksuckers and fuck them over royally.
Not if "they" owned most of the black markets.
My vote for post of the day.
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)
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.
Maybe the ladies will have a card reader installed on their bodies somewhere. Come to think of it....
And how do those of us with kids who do not go to girlie bars pay a baby sitter?
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)
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.
They can't have it both ways. A cashless society and EMP are mutually exclusive.
IMO, that's secondary. The real reason is that they want the ability to have negative rates without bank runs. They're that desperate.
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.
Right in front of you ... but none of you can see it?
Who uses CASH the most?
Hints:
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.
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.
Biz gets charged to deposit cash at the bank.Been that way for fifty years I know about.
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-...
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.
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.
Mark of the beast
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?
How fucking dumb do they think we are?
You really don't want the answer to that question.
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.
Paypal Wants Brain Chips to Replace Passwords https://youtu.be/z19V6sm17wg
Very – and look around, who can blame them, really?
Taxation by the Fed. Cuts out the middle man, aka the government.
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!
Its not about how dumb they think we are, its about what they can get away with with full blessing of a corrupt government.
The corrupt government run by corrupt politicians the brain dead keep voting into office???
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...
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
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
"How fucking dumb do they think we are?"
The reality is, they know how fucking dumb most people are.
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."
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.
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...
Just don't drive in Wisconsin or South Texas with all that money in your car.
"Rules....What Rules?!" "Laws.....What Laws?!" They are what we say they are.
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.)
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.
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!)
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!
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.
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?
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
"This note is legal tender for all debts, public and private" will change to "This credit card is obligation to accept debt enslavement"
'. . . 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.
...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!"
"...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....
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.
stage four: everyone dies, they die we die.
stage five: earth wins
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...
I like!!! So the few remaining bottles of my post 2008 Blanton's stash will appreciate and cover my, er, inventory losses? Woohooo!!!!!
Furthermore, the only thing thaty really matters to them is transaction rent (processing fees), not irregularities.
@ 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 ?
Man, they are locking this thing down as fast as they can. The pace makes me think it comes unglued before long.
Banning cash = No freedom
Its that fuckan simple. End of the line for the country and all of us.
The wages of their sin is death.......
That same book also says the way of the usurer is death. Too bad the apostate churches don't read it anymore.
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)
Absolutely positively dead on.
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.
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.
Some of us fight back every day......
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.
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
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.
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...
Same here, it slows down the checkout girls so you can flirt with them.
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.
Fat and dumb yes, happy no.