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Bond Manager Suggests "Make Cash Illegal" To End Boom & Bust
How to end boom and bust: make cash illegal
Forcing everyone to spend only by electronic means from an account held at a government-run bank would give the authorities far better tools to deal with recessions and economic booms.
Authored by Jim Leaviss, originally posted at The Telegraph,
A proposed new law in Denmark could be the first step towards an economic revolution that sees physical currencies and normal bank accounts abolished and gives governments futuristic new tools to fight the cycle of “boom and bust”.
The Danish proposal sounds innocuous enough on the surface – it would simply allow shops to refuse payments in cash and insist that customers use contactless debit cards or some other means of electronic payment.
Officially, the aim is to ease “administrative and financial burdens”, such as the cost of hiring a security service to send cash to the bank, and is part of a programme of reforms aimed at boosting growth – there is evidence that high cash usage in an economy acts as a drag.
But the move could be a key moment in the advent of “cashless societies”. And once all money exists only in bank accounts – monitored, or even directly controlled by the government – the authorities will be able to encourage us to spend more when the economy slows, or spend less when it is overheating.
This may all sound far-fetched, but the idea has been developed in some detail by a Norwegian academic, Trond Andresen.
In this futuristic world, all payments are made by contactless card, mobile phone apps or other electronic means, while notes and coins are abolished. Your current account will no longer be held with a bank, but with the government or the central bank. Banks still exist, and still lend money, but they get their funds from the central bank, not from depositors.
Having everyone’s account at a single, central institution allows the authorities to either encourage or discourage people to spend.
To boost spending, the bank imposes a negative interest rate on the money in everyone’s account – in effect, a tax on saving.
Faced with seeing their money slowly confiscated, people are more likely to spend it on goods and services. When this change in behaviour takes place across the country, the economy gets a significant fillip.
The recipient of cash responds in the same way, and also spends. Money circulates more quickly – or, as economists say, the “velocity of money” increases.
What about the opposite situation – when the economy is overheating? The central bank or government will certainly drop any negative interest on credit balances, but it could go further and impose a tax on transactions.
So whenever you use the money in your account to buy something, you pay a small penalty. That makes people less inclined to spend and more inclined to save, so reducing economic activity.
Such an approach would be a far more effective way to damp an overheated economy than today’s blunt tool of a rise in the central bank’s official interest rate.
If this sounds rather fanciful, negative interest rates already exist in Denmark, where the central bank charges depositors 0.75pc a year, and in Switzerland.
At the moment it’s easy for individuals to avoid seeing their money eroded this way – they can simply hold banknotes, stored either in a safe or under the proverbial mattress.
But if notes and coins were abolished and the only way to hold money was through a government-controlled bank, there would be no escape.
Apart from the control over the economy, there would be many other advantages of a cashless society. Such a system is much cheaper to run than one based on banknotes and coins. Forgery is impossible, as are robberies.
Electronic money is an inclusive and convenient system, giving poor and rural sectors of an economy – where cash machines and bank branches may be few and far between and not all people have accounts – a tool for easy participation in the economy.
Finally, the “black economy” will be hugely diminished, and tax evasion made all but impossible.
* * *
Satire?
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Rofl
An unpleasant version of Hell...the gov't "holds" my money? Fuck you!
yes. i suggested in a comment in the original article that he remove his own arms and gouge out his own eyes. asshats are really crawling out of their hidey holes these days.
He must be in the bidding for a Big Government Contract
Everybody take a good sniff. You smell that? It's desperation, and it smells worse than the worst pile of shit you've ever been unfortunate enough to take a whiff of.
With more central planning and more control, we will achieve Nirvana.
Far better tools is a euphemism for bail in
without cash onboard, there would be very little civil asset to forfeiture
and no forfeiture = no hooker parties
so don't joke about taking the cash away
hugs,
the fraternal order of terry stops
http://en.wikipedia.org/wiki/Terry_stop
When the pitchforks finally come out the peasants will at least know where to aim.
"How many Quatloos to buy my freedom?"
"What do you mean it's not for sale?"
How about making central banks illegal? Central bankers and all who advocate this should be sent to Siberia. Thaw the tundra with burning oversupply of paper money.
Time for Hash-bucks, and it's rival, Hemp-bucks.
Bitcoin backed by an actual commodity? The backer is the only one who can mine new currency, and is audited to prove he has 100% commodity backing for each coin?
Traditionalist could also back them with metal.
If you don't take these people seriously, it's your fault....
The War On Cash IS REAL!
Krugman's 30 years ahead of this dude.
Krugman has a blister on his knob end.
Someone is paying these people who have, all of a sudden, been coming out with these cashless system ideas. My money is on the RFID chip lobbyists.
Who else here has made the decision to never be surprised by the stupid stuff government comes up with?
More likely cocaine and casino chips.
You fail to realize that with a cashless and centrally planned (actively monitored and managed) economy they will be able to instantly detect the uptick in pitchfork sales and immediately institute a 1,000,000% tax on said implements so that peasants cannot afford them.
Yes, every transaction will be monitored and stored on Government data bases from birth to death.
It isn't Communism
It isn't Capitalism
It is Technocracy...a totalitarian dictatorship where technology ceases to benefit humans and begins the process of human degradation.
In the 30's Technocrats proposed replacing politicians and business people with scientists and engineers who were more capable to manage the economy.
They also proposed eliminating money and everyone would be issued "credits" to be used from birth to death.
Official symbol of the Technocracy movement (Technocracy Inc.). The Monad logo, signifies balance between consumption and production.
I dunno, lets see...paying close attention to plank number 5...
1. Abolition of private property and the application of all rents of land to public purposes.
2. A heavy progressive or graduated income tax.
3. Abolition of all rights of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralization of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.
6. Centralization of the means of communications and transportation in the hands of the State.
7. Extension of factories and instruments of production owned by the state, the bringing into cultivation of waste lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal liability of all to labor. Establishment of industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries, gradual abolition of the distinction between town and country, by a more equitable distribution of population over the country.
10. Free education for all children in public schools. Abolition of children's factory labor in its present form. Combination of education with industrial production.
Thanks for coming out of the closet for this one, err you know what I mean.. We have to prepare for the sporty bits that are surely coming.
Read and comprehend the "study guide".
Technocrats(and the U.S. government) did an energy survey of North America in the early 1900's and yes they were aware of the stuff that is being produced today using "new technology". My Grandfather owned land in Arkansas and sold half the mineral rights in the 30's for $130. the oil and gas is just now being produced from this high hanging fruit.
Seriously delve into technocracy and everything you hear in the mainstream will be crystal clear. read the study guide--it was invented at Columbia University in 1909.
Aldous Huxley was a member of technocracy and finally came to his senses and saw where it was headed and wrote "Brave New World"
Technocracy is supposed to be a utopia but every single good dystopia novelist was previously a rabid technocrat.
I already have my pitchforks.
Actually they are 5-tined manure forks, more suitable for the application!
NM actually banned civil asset forefiture without a criminal conviction. The feds can still do it, but local popos cannot. IIRC, it goes into effect on July 1st. We're one of two states. 'Murica, the land of the free! Wait, what's that? Oh shit!
Federal use of common law civil forfeiture in the face of local laws will fail a court test.
Any local law trumps common law. I expect the DEA to do what they do in other states that ban forfeiture, get a conviction first.
English common law is written into Florida's constitution.Only state laws override it,
not local laws/ordinances.
Not if the siezure is authorized by congress, whether directly or indirectly via some alphabet soup regulatory agency. The supremacy clause would be invoked, and you'd be right back to arguing due process, and if it was "The US v $10,000," even that would get snapped away from you and you'd have to fall back to unreasonable search and seasure. You'd also be arguing this in a federal court, not a state court. Good luck with that if you don't have some evidence of your own.
Chickens guard the hen house? Chickens are so weak! How could they possibly guard the hen house? And that is why you MUST allow us foxes to guard the hen house!
With the Baby Boomers retiring en-masse and after these same guys screwing us over with zirp, they need to keep an old saying in mind:
"Don't fuck with the old people, they'd just as soon kill you than put up with your shit".
Make bond managers illegal.
Based on that schnozz, I'll say Jim's a tribe member.
http://www.mandg.com/ireland/adviser/fund-managers/jim-leaviss/
The aim of the ZWO/NWO/Global Financial Oligarchy is to ultimately do away with any untraceable alternatives to their warez.
Stanley Fischer, former head of the bank of Israel was the first central banker to float the idea of the elimination of cash.
Problem is, in their tin god nations of captive serfs, most have no money to put in a bank account leading to a cash and carry economy.
"To boost spending, the bank imposes a negative interest rate on the money in everyone’s account – in effect, a tax on saving.
Faced with seeing their money slowly confiscated, people are more likely to spend it on goods and services. When this change in behaviour takes place across the country, the economy gets a significant fillip. "
The above quotes from this article are signs of an insane strategy of malinvestment. What's currently wrong with the economy is that the real resource inputs are getting harder to come by due to depletion. Forcing people to spend and provide demand for products would just exacerbate the problem as the resource depletion effects will be felt even quicker.
Bingo! And if/when it comes to the US, that will be the time that you can say that revolution is no longer an option, it is a necessity.
Note the use of appeasing and non threatening terms in wide sweeping generalizations that are used to obfuscate : “far better tools” “futuristic new tools to fight the cycle ” ease administrative and financial burdens” “programme of reforms aimed at boosting growth” “evidence that high cash usage in an economy acts as a drag” “Electronic money is an inclusive and convenient system, giving poor and rural sectors of an economy a tool for easy participation in the economy.”
Yeah, right.
If it comes to the USA, the reality is that they will try to use it for controlling what you purchase and fleecing the shit out of you while enriching their campaign contributors.
Let's examine this statement : " allows the authorities to either encourage or discourage people to spend. "
I propose that the rich and the bankers and the governement tops are all smart enough to know that it's really resource depletions that are structurally slowing economies and that there will be more austerity as a result by definition. Less inputs is directly causal to less outputs which is directly causal to more austerity. It's one of the reasons the only option given Greece is more austerity and further depletion will be directly causal to further and spreading austerity in a global economy.
So with regard to the encourage part of the above statement, that's definitely not coming. It's going to be the discouraging that is done (or bail in/confiscation) since that is what best matches austerity.
At the top, they want to control austerity as best as they can for their interests, and it's in their best interest to keep things looking rosy at allmost any cost or manipulation or obfuscation or printing.
I know a fella who was tasked with modeling the national security implications of expensive oil back in 2005 or thereabout, before we had that huge spike up to $147/bbl. This wan't some third party white paper that he was tasked with coming up with, he was given resources from Lawerence Livermore. He proposed that $70/bbl be used as the price for the purposes of the study, and the government bureaucrats that he was dealing with balked at the idea that it would ever get up that high. The normalcy bias is just as strong in the government as it is amongst the general population. They are, for the most part, incompetent fools. The peter principle applies to the government in spades. I'm sure that they have been given reports, but I doubt they really have internalized what it all means, and this is probably by choice. Remember, their paychecks depend on the system continuing as it has during their living memory. Good luck getting them to understand that it is unsustainable. The few who do understand are likely getting theirs while they can.
The irony of my situation is, at one time I had better things to do with my time. I was well on my way to prepping while providing both recreation and a wholesome and financially secure environment for my children and family while also providing some of the best quality software for the avionics industry. I could see the economic crises coming from a mile away, as I have constantly been on the watch for resource depletions since one of my engineering professors briefed his Electrical Machinery class on energy trends, risks, and mitigations possible. That was in 83. But due to a buddy fucking in 07 from some nouveau rich home wrecking, wife stealing, tax cheating kind of sociopathetic type of guy, I had to come up with alternative plans. That freed up my time to look hard at economics, and make observations and analyses that saw over the top in ways most people couldn’t and with an engineering mindset steeped heavily in advanced mathematics and real physical processes. So that’s why I post here and used to post at the Oil Drum too. Wish I had better things to do.
Plus, I've worked on several military projects, and they have the long term view where they look out in time decades in advance considering everything from maintenance and repair to supply chains. They don't like to see critical supply chains put in harms way either. Please note how this contrasts with the business and investor mindset, that tends to only look at the next quarter or two and how to get richer and get profit in almost anyway they can, where they care very little for who get's thrown under the bus, as long as there is moar and the sooner the better.
Exactly. This is the end-game/inner ring of central planning Hell:
"Having everyone’s account at a single, central institution allows the authorities to either encourage or discourage people to spend."
OMFG!
If this comes here, I would encourage people to use their gubment run accounts to purchase lead for the purpose of bartering with it.
Dear BanksterGovt Fuckwits
1. Stealing my money deprives my suppliers of an income.
2. The Economics Definition of the word, "Demand" is not real demand. It's just a definition that is used to make the Economy easier to model. Throughout the bustiest of busts, people don't stop wanting things. Never. Not once.
The End.
P.S. DEBT is NOT AFFORDABLE.
Can you imagine this? We see you've purchased McDonald's french Fries twice a week over the past 8 months. Your healthcare premiums must increase 50% or pay a $2000 fine. We don't like the fact that you've been buying 1000 rounds of small arms ammunition a month for the past year. Your "ammunition purchase privileges" have been temporarily been revoked until your account is reviewed by the IRS.
This whole cashless system is a hacker's wet dream come true. Fifteen year olds in eastern europe will be cleaning out westerners bank accounts without ever having to step foot in a bank or pick up a pistol.
"... in effect, a tax on saving." The banks get this "tax" for their coffers. What if USSA follows Australia's lead and the government taxes savings directly? A double whammy with no escape if this Ahole has his way.
It's not coming to the USA.
Yet.
How about fuck you Jim, you .gov patsy prick, come and take it.
It is desperation, but never underestimate desperate people. They can try it and when it begins to fall apart they will resort to extreme enforcement measures. But at the bottom, what they are effectively suggesting is full expropriation of assets, privacy and everything else. This an act of agression against any member of the public, I would say that it is an act of total and absolute agression. This is the sort of threat that requires the immediate and unrestrained use of force against those who even propose such a plan.
See my post above about doing this in the US necessitating revolution. Fortunately for us, this is over in Europe, but if it passes there, it can pass here.
I think IngSoc has been winning in the US as well. I am very pessimistic about all this.
Ingsoc is going to have to worry about the currently existing black markets if they ban cash in the US. You'll have a bunch of junkies and street level drug dealrs looking for other ways around the system, and it won't be pretty. Do that here, and I'll take to guerrilla farming and selling my goods for silver or bartering them.
EVERYONE will be looking for alternatives I guarantee you that. It will no longer be black market as we know them, when this thing materializes and its effects are felt 50% of the population at least will start going black market. Either that or immediate civil war, this is too much to put up with when people begin to realize what it is. Even Stalin would puke at this plan.
Yes, but our so called leaders are bought and paid for, and they're also fucking dumb. What are they good at? Authorizing huge deficits, kabuki theater and toeing the line. We're facing problems that they won't even let be acknowledged, and they're all involved in one big horse race. And I'm not talking about the equistrian kind either. I'm talking about the circle jerk with a cupcake or cracker in the middle, and the last to finish has to eat it.
Banks are already charging us fees to access our own money.
Fact: We already have direct deposit, plastic cards and EFTPOS. Who still uses cash for large transactions? How many sheeples get direct deposit and then buy all their stuff with plastic card? There's a good chance that a huge portion of cash simply gets shuffled through different accounts in the same bank! The fact is that the banks already have 99% of the cash 99% of the time and now they're saying that still ain't enough! Well, if 99% of the cash ain't good enough for yas, 100% ain't gonna make any difference.
Ever heard of the drug trade?
Yeah, I made a couple more comments further down.
Ever heard of HSBC?
;)
dup
My response was uncharacteristic as this is the most in your face confiscation of labor and freedom imaginable. This is the declaration of hostility of the finance class to the productive class and their is a large difference., you had better come to grips with your own and YOUR systems weaknesses Jim.
If you won't give us all your money, we'll just take it. I don't think he knows or understands the size of the can of worms he's trying to open......
The irony here is that what is presently referred to as money is nothing more than rectanular pieces of colored paper backed by ABSOLUTELY NOTHING.
On the other hand, forcefully taking/killing for gold; (Libya, Ukraine, The Spanish Armada, etc) makes perfect sense.
I saw a suggestion somewhere that your employer send all your money to the government so they could take what they think was your fair share from it and then send you anything that may be left (little if any, I'm sure).
Are they out of their minds? The whole boom bust cycle is caused by the Fiat system.
We had boom/bust under the gold standard, but it looked and functioned differemtly. The problem with fiat is it's too easy to make more so things get papered over instead of being corrected by normal means. All this means is the system will correct in an abnormal manner....
We still had fractional reserve banking, even on the gold standard. What happens when collateral that you don't have gets called in?
The collateral is a notation sitting on a computer at the FED. Oh you mean real assets? Your SOL my friend.....
Ponzinomics at its best!
Let me guess, he had a career as an academic.
'They' just need obsessively stately statists like Troll Andresen to give academicesque justifications for {cashless society, <another tryannical model>, ...} once every now and then so that the people think "hey, this is what the skools teach, so it must be good/right/correct/moral/ethical", because skools can't teach bad/wrong/incorrect/immoral/unethical things. Conditioning is all this is.
Fucking moron. Making cash illegal and forcing John Q Public to use alternatives of debit/credit, etc has nothing to do with boom bust cycles.
It's the CB's creating beaucoup dinero out of thin air leads to mispricings.
All this would do is facilitate increased taxes, levies, fees, penalties and robbery/wealth transfers from them's to the FSA and boondoggles
This is the dumbest fucking rationale I've ever heard as to why outlaw cash
Guy deserves some serious medieval embarrassment in the town square, followed by a concrete dunking chair.
Burn the Witch
FUCKING NWO PROPAGANDA, BLAME THE CITIZENRY FOR THE STATE'S MISDEED
HOLY JESUS H FUCKING CHRIST
I'll trade you your sister for two chickens and a sack of beans....
Oh senior, my seeester she beeeen virgin many many times. You gimme 3 sacks of beans, two cheeeekins and a goat. Big goat. Happy goat
Oh no sir. Dat waz not my seeeester you seee at de bar in Tijuana with de donkey.
My seeeester is a virgin ... She be virgin many many times for you, GI
(spoken with a foreign accent) "..How much for the leetle girl??.."
[place that movie!]
Hey Knucks, does your sister by chance look anything like you???
"Forgery is impossible, as are robberies."
I'm sitting here muttering hysterically while I gently shit my pants...
The "mark of the beast" is upon us.
;-D
Yeah - TAX THEFT becomes Impossible to avoid under their cashless system. . .
Unfuckingbelievable
I hate to sound like my dad...and his dad, but I swear to god this smells like the end is near!
Eliminate cash, government absolute control of everything, especially information (now that according to Obama we need to handle the distribution of information "differently") http://www.breitbart.com/big-journalism/
And then we have the secretary of education suggesting we should have 24/7 schools for kids that have less than perfect homes to go to...
https://search.yahoo.com/yhs/search?p=education+secretary+duncan+24%2F7&...
On top of social elites suggesting that kids from less than perfect homes are at a disadvantage to those in good homes and should be "equalized" by forcing ALL children into a government "brooding house". Abolish the family http://www.abc.net.au/radionational/programs/philosopherszone/new-family...
This has nothing to do with money and everything to do with control, with absolute, undeniable power. Things have been going to hell for years I'm sure, as my dad had always told me, but this is not an eternal trek. It does have an end point....the boot on our neck, and once there, there is no easy way out....if at all. The power that a single world government can muster using technologies unimaginable in past tyrannies can make this event a one time thing, a "this time IS different" occurrence, that may never see the world regain anything like freedom ever again.
More and more people who I know who ain't the least bit religious or spiritual at all are wondering the very same thing.
Let's all go to the early 5$ special early bird showing of the new Zombie nuclear war and famine movie!
Even on a societal level, there are worse outcomes than death (e.g. survival).
I comfort myself that with every passing day, the current "US system" grows weaker; unfortunately, what comes next is far from certain.
But I'm all in favor of rolling the dice.
What are they going to do for future slaves if women refuse to bear children under those circumstances? I suppose they will deny them birth control as they did in Romania when the birth rate plunged. They are heading down a very dark road with plans like that. It will lead to their destruction and probably the elimination of their blood lines.
That's just an excuse. The reason they want a cashless society is for greater control. David Rockefeller once told a friend that they needed to have the power to be able to shut off access to funding for anyone who was problematic - submit or die.
Fuck that asshole!!!
And with Hilary's dick!!!!
I choose: STUPID.
I choose Central Banking Useful Idiots for 500, Alex
I choose: EVIL
On the plus side, he's confirmed what we are up against.
Over my dead body.
Certainly comrade.
Now you know why DHS bought all that ammo.
And SF are training with the police in door to door roundups as part of Jade Helm
http://www.infowars.com/special-forces-train-with-cops-for-house-to-hous...
Round ups? Of whom? Who are the willing actors for these round ups? This is a "training excercise that will not impact anyone's daily lives or civil liberties etc."
Just wait till the moment the "exercise" turns "generous humanitarian action"
There are no limits to how far they will go to save us.
"We were just having a normal, planned drill when this happened. No one saw it coming. Good thing we were here though so we could move all these citizens to the safety of the relocation camps."
- Unnamed General overseeing Jade Helm 15. September 2015
Been done before:
The young bloods of the South; sons of planters, lawyers about towns, good billiard players and sportsmen, men who never did any work and never will. War suits them. They are splendid riders, first rate shots and utterly reckless. These men must all be killed or employed by us before we can hope for peace....
Gen. William Tecumseh Sherman
The more Indians we can kill this year the fewer we will need to kill the next, because the more I see of the Indians the more convinced I become that they must either all be killed or be maintained as a species of pauper. Their attempts at civilization is ridiculous...
Gen. William Tecumseh Sherman
"The only good Indian is a dead Indian." -
Gen. Philip Sheridan 1869
Life has been an eternal war of civilizations from the very first in existence. We just have better tools now. Ultimately we will be "tamed" or domesticated into a single herd.
I'm still trying to figure out that Jade Helm. Doesn't the exercise happen on one side of the country while the real action happens on the other side of the country - eg, that time when all the fighter jets couldn't be scrambled because they were busy doing a "drill"? You never know, maybe this time is different.
No comrade, over HIS dead body. Should negative rates come to North America, I would get rid of all my fiat and buy silver and gold.
He can take his ideas and take a long walk on a short pier.
Cash is going to gain in importance as it is the only way people can trade goods and services without big bro's big nose in the transaction and you don't need to be 'connected' to use it.
This whole thing is a red herring. The debate or suggestion of outlawing cash only adds to the implied image that it has true value in the first place.
I welcome the outlaw of worthless debt script that claims legal tender valuation (at the barrel of a gun). The day it's truly outlawed, it's true value is revealed for all to see.
Think the drug problem was bad with the underground economy you government shills? Wait until the new market makes you guys known to all as completely worthless as well.
Blowback is a bitch...
That would mean changing all the parking meters here. Also the Mafia doesn't like to do business with debit cards for a few hundred kilos of heroin.
Plus all them cash real estate transactions would be affected. Or have all those "cash buyers" merged now? Perhaps the "in-crowd" have their own "discrete bank accounts". Property bust? Take over? Or have they figured a way around it?
Seriously demented.
How would the CIA make money ? the poor spooks would have to rely on their budget.
The CIA is the government Mafia. They got secrets, drugs, guns and weapons to sell.
Kinda hard to sell them when the endpoint of the sales require untracable transactions. Banks can launder large transactions for large drug shipments, but the street dealer would be hosed. Unless a black market form of currency sprung up.
Precious metals would be scapegoated as the currency of drug, arms and human traffic dealers.
Naaaaaaah, the dealers will just all get their own special accounts with HSBC ...
... but then how will those "self-funding" cops who patrol "the other side of the road" survive?
Shhhh! Don't let them know that there might be problems with it. The system needs to implode, and this would make it happen faster.
An even bigger issue that is US centred: What about all of the foreign held physical FNS? Eventually, some foriegner would figure out that they're worthless and BOOM! GRC status goes away even faster than it is right now.
Go ahead, Fed and Congress, do it here. I triple dog dare you!
Forgery is impossible...for who?
Robbery is impossible...for who?
Yeah and in a communist system corruption is impossible too right? Tell me another truth, I can't get enough of em.
Forgery will not be impossible in a digital transaction world. In fact, at the opening stages, it will be quite easy. Thus enabling the enactment of hardware and software lock down measures to be mandated, thus getting rid of that pesky internet thing as well. I have said it in another response before you will not believe the kind of war raging behind the scenes for control of your PC.
All that money that simply evaporated from MF Global not digital, or was it just a bunch of sacks of cash that got lost? We still don't know where it went, right? When everything is digital, it isn't tangible, we can't touch it or hide it in our mattress. Digital is the solvent of transparency and reality for the world. Will it be possible to look at a video as evidence of anything given that it can be digitally modified if not created from nothing?
A simple EMP attack could legitimately "erase" untold amounts of "money". Not even ashes to sift through.
He should understand that all fiat is bonds, all bonds are fiat therefore he just asked for the destruction of the bond market. I'd say grant that man's wish.
Let's cut to the chase. How are the crooked politicians going to maintain their bribery fueled lifestyles without cash?
I'm sure there will be an encrypted super system which "governments" can use in "specific emergency scenarios" to transfer "money".
Well, since they'll be holding our "money" for us....
As always, it's a two-tier system - one tier for the proles, and another for the Party.
Government? ROTFLMAO....government IS the problem, not the solution.
ROPE, KICK, CHAIR motherfucker.
This is so absurd.
If they try to do this then its an admission that they are running a slavery system.
Your money is not in the bank. It's with the bank - your statement just shows the banks liability to you. In the case of Cyprus and elsewhere it's clear they can't even meet those liabilities let alone all the other liabilities they have.
How 'bout we make stooooopidity illegal?
Have to enforce it with a good Bolshevik beating every now and then. has not happened in a long while thats why they have atteined power to seriously float these ideas.
Only 3 things to ever worry about in life:
1. Jewish accountants
2. Italian Mafioso with a gun
3,. Socialist with an idea
Of the 3 the mafiosos are the most honest.
How 'bout we make stooooopidity illegal?
TPTB were actually thinking about doing exactly that except they realized that they would end up having to fine, or put in jail, 90% of the population in the USA . . . .
The USSR won the Cold War.
You mean Bolshevism right?
No the US won the Cold War, it's just that the Bolsheviks left Russia and came to the US and Europe to meet up with their friends that were already here.
Fuck the electronic money... why don't they just Gov't decree electronic collars ? A shock if you don't spend enough, etc... like a dog fence..
Only a 'Trond' could have made this up!
RT says this is already central bank policy. So it sounds like this lapdog has found the ear of at least one criminal central bank:
http://rt.com/op-edge/198060-denmark-electronic-money-cash-banks
<<Denmark’s Central Bank Nationalbanken plans to stop printing banknotes and minting coins by the end of 2016. It claims that people increasingly prefer to use credit cards and electronic money in transactions rather than cash...RT: The Danish Central Bank says it's stopping printing new money because demand for banknotes is falling. Is this a global trend or one peculiar to Denmark? Konstantin Gurdgiev: It is a global trend. It’s a global trend in the sense the Central Banks around the world, especially in Europe, not just in Denmark, but also in Ireland, for example, Austria, Belgium have been trying for a number of years to shift the economies or convert the economies away from using physical cash in transactions and using paper in transactions to electronic payments. For example, several European monetary authorities, Central Banks have carried out a series of local experiments in reducing the circulation of coins in recent months and years. Irish Central Bank recently did an experiment eliminating from local circulation in one of the towns one of the banknotes as well. Central Banks have actively lobbied the governments also with the recent Chairs to increase duties and taxes on checks and other non-electronic payments... One of the big issues that came during the global financial crisis is the issue of the bailouts, when the banks are failing electronic money can be taken away and repossessed as happened in the case of the deposits in Cyprus. Physical money can’t be as easily repossessed as a result of that.>>
So according to RT, this is not merely a suggestion, but has in fact transitioned to Central Bank policy in Denmark. By the end of 2016, they say. Something is rotten in that state, and that rotting thing appears to be the central bank. Quel surprise.
In unrelated news, the economy appears to be set for a revival in such barter items as alcohol, ciggies, and boxes of Tide detergent.
Nice plan 'till the citizens lose (total) confidence in the banks. Then its all over & big brother will be left controlling zilch.
Oh yes. THis will end well. When has any elite institution and government slop shop ever been able to conrol or smooth business cycles. They are the cause of them. Whether it be cash or digits, the end result is the same. Same song, different words.
Perfect Government Control. Write something (or say something that gets picked up by your phone/tv etc.) that the Government doesn't like and they can "discover a problem" with your bank account, maybe freeze it for a couple of weeks and see how you and your family likes only eating once a day.
Excuse me, sir, I am utterly revolted that you'd disseminate such a vulgar and completely basis conspiracy theory. I'm hungry...
By "CASH" they mean PM and any phyz ?? Reach into your flash backups, too ??
annnnnnndd ....... it is gone !
FUBAR
the “black economy” will be hugely diminished, and tax evasion made all but impossible.
Sure it will.
People decide what is money, not governments. The day this happens I may not be allowed to accept cash, but I'll take gold, silver, eggs, meat, cheese, fish, alcohol and favors (both sexual and non) before I bow to this kind of tyrannical bullshit.
Odds are that a large majority would find that they feel, and then act, the same way.
Ther goes the full faith that the fiat requires.
Vaq is right, total desperation.
Sounds lots like marriage to me!
Sounds lots like marriage to me!
"What about the opposite situation – when the economy is overheating?"
Right, because the government always acts in such a scenario. Under this system your money is only going one way.
'What about the opposite situation - when the economy is overheating?' .... is an extremely interesting question & proposition!
What a great idea. Only let the government also be able to spend money from your account on whatever they like, hookers, drugs, big screen tv's.
Brilliant! If demand shows any sign of declining they can just pump it up. QE to infinitiy and beyond.
Just give me a little notice so that I can convert all of my "cash" into money denominated as .308 (larger bills) and .223 (small change). Then we can give the shopkeepers a "choice" as to what they will accept as "money".
What scares me is that this is the 5th or 6th article I have seen on this subject...someone is pushing this line of thinking......and just think what the politicians could do if they had control of your money....
yes trial balloons...
I'm OK with this. As long as they always add 3 zeros at the end of all my transactions.
Thats what they said in Zimbabwe!
Nah, in Zimbabwe they said "Add 300 zeroes".
This is not a new or recent idea.
http://www.globaldeflationnews.com/governments-are-secretly-preparing-to...
But the idea is starting to become reality as Greece is discovering.
http://www.globaldeflationnews.com/more-proof-that-central-banks-have-de...
Is that a prostate exam I'm getting ?
Its not a finger.
It's a Homeland Security check at the airport!
just a little rabbi trick
strictly kosher
"Hey, what's your head doing up here?"