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Leading German Keynesian Economist Calls For Cash Ban
It’s official: the world has gone central-planner crazy.
Monetary policy, whether in the form of “conventional” methods such as the micromanagement of policy rates or so-called “unconventional” measures such as QE, has proven utterly ineffective when it comes to both “smoothing out” the business cycle and reigniting economic growth in the wake of severe downturns. If anything, recent history has shown the exact opposite to be true. That is, the Fed helped to engineer the housing bubble and has now succeeded in inflating a similar bubble in stocks and fixed income. Meanwhile, the Japanese experience with QE has plunged the country into what we have affectionately dubbed “The Kuroda Zone”, wherein the BoJ has cornered both the stock and bond markets while failing to promote wage growth or meaningfully raise inflation expectations. In China, the PBoC has taken to cutting policy rates at the first sign of weakness in the stock market, helping to sustain what will perhaps go down in history as the second coming of the tulip bulb mania, while the ECB has taken the insane step of adopting a trillion euro bond buying program while simultaneously demanding fiscal discipline, meaning the central bank’s bond monetization efforts are set against a backdrop of meager supply.
In sum, the collective actions of the world’s most influential central banks have done wonders when it comes to inflating asset bubbles but have done very little to revive robust economic growth. In fact, far from smoothing out the business cycle and resuscitating DM demand, post-crisis monetary policy has actually had the exact opposite effect: it has set the stage for an even more spectacular collapse while simultaneously creating a worldwide deflationary supply glut.
At this stage, a sane person might be tempted to call it a day on the monetary experiments, especially considering that at this point, the limits have been reached. That is, there are literally no more assets to buy and rates have hit the effective lower bound where rational actors will eschew bank deposits in favor of the mattress. But not so fast, say folks like Citi’s Willem Buiter and economist Ken Rogoff: the world could always ban cash because if you eliminate physical currency and force people to use a debit card linked to a government controlled bank account for all transactions, you can effectively centrally plan everything. Consumers not spending? No problem. Just tax their excess account balance. Economy overheating? Again, no problem. Raise the interest paid on account holdings to encourage people to stop spending. So with Citi, Harvard, and Denmark all onboard, we bring you the latest call for a cashless society, this time from German economist and member of the German Council Of Economic Experts Peter Bofinger.
Via Spiegel (Google translated):
Coins and bills are obsolete and only reduce the influence of central banks. This position represents the economy Peter Bofinger. The federal government should stand up for the abolition of cash, he calls in the mirror…
The economy Peter Bofinger campaigns for the abolition of cash. "With today's technical possibilities coins and notes are in fact an anachronism," Bofinger told SPIEGEL.
If these away, the markets for undeclared work and drugs could be dried out. In addition, it would have the central banks easier to enforce its monetary policy.The teaching in Würzburg economics professor called on the federal government to promote at the international level for the abolition of cash. "That would certainly be a good topic for the agenda of the G-7 summit in Elmau," he said. (Click here to read the full interview in the new mirror .)
Even the former US Treasury Secretary Larry Summers and economist pleaded for an end to the already cash . Likewise, the US economist Kenneth Rogoff . He also argued that the interest rates of central banks have less clout when banks or consumer credit rather than hoard cash.
Critics warn, however , such debates would only distract from the real problems of the current monetary policy.
Yes, the “real problems” with current monetary policy. Like the fact that by design it can't possibly work (but it can and will push stocks to unprecedented highs). Paging Mr. Weidmann, your countrymen are going Keynesian crazy.
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Bofinger? What kind of a fuck name is that? At least Goldfinger has a ring to it....
I see people talking about the NUMBER of the BEAST. hahaa . its been around a LONG time, since you got a social security number.
Last time I was in the States was 2002 on business. I went to a supermarket and somone was writing a check (haven' seen checks here in 20 years). And the clerk told the person, don't forget to put your SS number on it. I was going WTF??????????????
Isn't that highly illegal? It is HERE.
Yeah I've seen that in certain sectors. I've also seen copying of ID cards in certain sectors.
There are some legal issues with these practices... and at our Colleges where they use the Social Security Numbers for different applications also... lots of questions here.
But magically... No Lawyers are interested in these infringements. Magically the Lawyers never protest the Degradation of US Constitutional Rights.
If you were a Russian, a USSR Agent, a Chinese Agent, or even lesser powers... you would Identify these uses of Social Security Numbers as Targets for Foreign Operations or Infiltration...
This is a National Security Risk... but the Bankers don't give a damn about Citizens Security... it is never about Citizens Security.
Citizens Security is a total National Security Nightmare only since the Security Apparatus doesn't give a damn.
National Security only serves the Wealthy, the Powerful, the Government, and Bankers.
It's not about economic growth it's about centralized control. Our overlords are closing in on every front. Forcing everyone to transact electronically would be a major bonus for them.
Trying to use my imagination for a minute to come up with possible reasons for cashless society.
- Power, Control, Monitoring, Tracking, Spying, reduction of illegal activity, reducing terrorism
- Bank Bailouts, Corporate Bailouts, Federal Govt Bailouts
- Reduce Black Markets, Labor Market, Dangerous Purchases
- Reduce Sedition, Plots Against any part of the Banking-Government System
- Eliminate States Rights to Coin, use Silver Coins
- Eliminate efforts of States to Secede
- Phase 1 of Implementing a New Currency or Secondary Currency where the Winners end up with a Strong Currency and the Losers end up with 30%-40% loss in Value
Those seems like the Major ones
- Banks regularly get caught laundering Drug Money, so that is not likely to change
- Wealthy people have Trust Funds, Funds off Shore, Funds in Tax Havens, and Compensation that goes straight to Tax Havens, Wealthy People can live off the Grid of Bailouts, New Taxes or Government Penalties
In 2002 I was in the States on business . We stayed at a 5 star hotel in Dover, Delaware at the race track . They had a casino so I played the slots and first pull I won 2000 dollars. I was watching the thing spitting out coins and the boss came by and said we will pay the remainder in check.
He said what is your social security number? I told him I am not American, Then he said ''you sound American'' so I pulled out my Dutch passport and showed him. He said he had to report it to the IRS because its over 600 dollars. I said, fuck that, pay me the rest in CASH because I am NOT American. He got all huffy with me and I threatened to call the police., Finally he gave in and paid me in cash.
In Europe if you win the lottery or big money , you get paid in CASH and no taxes taken out. Whether its 10 bucks or 10 million.
Same as in Canada, but in Canada you can't deduct gambling losses against your income.
Here either but I don't gamble much. I happened to hit that lucky slot in the USA. and then later I won over 3000 playing blackjack in Caesers Palace in Johannesburg South Africa. when we stayed overnight there.
Thing there is I had bough the chips with Euros and when I cashed in they wanted to pay me in Rand. They would not give my Euros back. So I had to spend that money in their economy., I bought 2 laptops and sold one to a friend.
Look I need to sell out of this cheap US Home and get a look at your job. I've never spent money like that at any Casino.
I'm not that old and don't have that much, so I don't spend.
But lots of guys with my years of experience have the good life. I'm just not that sure that my experience is all that great where I would get a little respect or whatever.
I'm just trying to stretch it out right now. Unfortunately people in my position only have 2 choices, work through a kind of kiss ass position and invest in the stock market, or Create your own job and invest it all in the business that is probably subject to Asymmetric Warfare.
Staying in Hotels like that. Man. Europe is still running.
Often Europeans get company discounts for employees for travel... like $200 Euros is airfare and hotel in the Mediterranean.
hahah I never paid a dime. the boss did, I was on VIP flight crew, We always stayed in 5 stars worldwide. He paid for everything on the hotel bill EXCEPT if you watched porn movies. Boss was Muslim. LOL
It's not about economic growth it's about centralized control. Our overlords are closing in on every front. Forcing everyone to transact electronically would be a major bonus for them.
Strange that there is a suddenly a rash of persons/institutions backing a cashless society?!
"In politics, nothing happens by accident. If it happened, you can bet it was planned that way."
U.S. President Franklin D. Roosevelt
Perhaps THERE but not HERE. That German is a lunatic. Too many things still deal with cash, like parking meters, casinos, etc etc.
That guy is a moron.
Just thinking of solutions here... maybe small amounts of coin could be purchased like $10 Euro, $20 Euros, $5 USD, $10 USD, $20 USD...
already being done here.. largest bill is the 50 euro note. and its scanned at the register before changing.
Cash will always be around, too many things depend on it
still in denial.
There are multiple documented Europeans, including English and Canadian elites/academics/economists who are suggesting and pushing for a ban on cash. Open your eyes.
Dutch boy.
A good example is your buddy, Willem Buiter. He is pushing for a universal cash free society.
Ah yes, Democrat Franklin D. Roosevelt who sent Japanese Americans along with German and Italian Americans to internment camps like Crystal City during WWII.
http://www.thedailybeast.com/articles/2015/02/03/fdr-s-forgotten-internm...
oh. located near Crystal City, Texas,
Free enterprise = central enterprise
"Coins and bills are obsolete and only reduce the influence of central banks. This position represents the economy Peter Bofinger."
Coins and bills are in no way obsolete. Central bank influence should be reduced. They are screwing up the economy and financial system.
Deposits in banks have been designated bank holdings by the G20. Without cash and coin, people will have no money. It will all be bank holdings.
With interest rates on bank deposits negative, the incentive is to withdraw deposits. The common term for that is a "bank run". Can't let that happen so the only thing to do is makeit illegal to take your money out of the bank!
Can't anyone understand perfectly logical insanity? Geeze...
"But not so fast, say folks like Citi’s Willem Buiter and economist Ken Rogoff: the world could always ban cash because if you eliminate physical currency and force people to use a debit card linked to a government controlled bank account for all transactions, you can effectively centrally plan everything."
Sounds nice on a computer screen, but there is a difference between theory and practice. Such a system will wind up being overthrown. That little detail called human nature.
Precisely.....
"......there is a difference between theory and practice....."
Yogi's Wise Words.....
And indeed that little detail of HUMAN NATURE.
My observations of human nature tell me the vast majority of people submit to TPTB with little or no argument. If TPTB want to stop minting currency, they will.
Human nature got us where we are today. Fooked.
Except that our interests and the interests of gangbangers (i.e. street level drug dealers) would be aligned in this. Black markets would spring up like crazy and they'd have less control than they do now.
All the towns and villages here have one day a week where the farmers, garden centers, florists and other vendors setup a market in the village square. They do NOT accept debit cards. This goes on all over Europe, the open air markets. Everyone loves them,
There is no way that cash is going out here.
Eh, in the Philippines everyone uses cell phones since there is little infrastructure for land line phones. Well and Nokia developed from the same problem.
I got a parking ticket in Nederlands one time. $100 Euros or something like that which required on the Spot credit card payment. Go fishing the Captain can use a handheld credit card reader to charge you.
I'm pretty sure Europe is more in tune with this sort of Proclamation than the USA.
Also I have paid speeding tickets before where I have to wire the money from my account to the Police or Government Account... or maybe it was a cheaper version of wire.
Asia, Europe, USA, Canada, New Zealand... whatever. It can be done.
I do enjoy your smug self-satisfaction with the way things are where you live, as well as your fervent embrace of what Patrick Henry once memorably described as "the delusive phantom of hope."
If I were your age and in your situation, I would also probably prefer that things hold out as they are now-- at least until it becomes someone else's problem after I am gone. Apres moi, la deluge and all that.
The worst of all possible worlds is to be old and feeble and in the middle of a war, revolution, and/or collapse. Unfortunately for you, you are getting all three of them served up steaming hot on the menu as we speak.
In 1940, the Netherlands also assumed that it was going to sit safely on the sidelines while everyone else went mad and killed each other. You are as wrong about the trendline for today as your antecendents were about their future possibilities.
Judgment is coming for everyone, and that especially includes those who have the most to lose from the collapse of the current regime. For those who are heavily invested in holding things together as they are, it will be an especially disillusioning and terrible time to be alive.
I'm sure they will promote you. Go with a smile!
Keynesians see the deflation coming that they cannot stop. It will make cash more valuable. Since they cannot control cash it has become time to kill cash. Mommas don't let yer babies grow up to be Keynesians!
Interesting Idea. I would take it further though.
Currency can be exchanged for a new Currency. Winners get to retain higher value Dollars in one form, Losers lose 30%-40% of the Value in a new US Dollar.
When everyone's money is in Bank Accounts, they know exactly where the money is to handle the Change to New Currency or SDRs or whatever.
So could be 1st Phase of a new Currency.
bugs, in 2007 there was around $800B in physical federal reserve notes outstanding, much of it overseas. Today there are 10.1 billion $100 bills in circulation! With zero interest rates, no one has any incentive to keep money in a bank account, so it's being withdrawn in droves.
http://www.federalreserve.gov/paymentsystems/coin_currcircvolume.htm
Funny, if you compare the 1994 ratio of $1 bills to $100 hills, against the 2014 figures. It was a 3:1 ratio, back then, and now, it's nearly 1:1. Any ideas as to what drove this remarkable change?
How creepy is this:
http://9to5google.com/2015/05/15/google-buy-now-search/
This is a banker's dream. They will raise fees to the moon, and place severe restrictions on individuals from being able to transact among each other without paying fees to keep it "secure".
Well and CIA, NSA, TBTF Banks, and SuperUsers can just take all your money out of your one or several bank accounts...
Centralization is a Recognized Risk to all Military Systems.
- Funny how they want Peons to Centralize our Resources on their Public, Internet Connected Accounts.
"Coins and bills are obsolete and only reduce the influence of central banks"
Sound Good?, fuck yeah.
Go for it. Barter beats cash anyway. Ass, gas or grass...
This translation is innacurate, what he said in German was "Arbeit macht Frei".
Apple pay is not God we trust. Wait until you get hacked without FDIC. We will still have money, your account will be gone.
Reminds me of Rome. When Rome conquered another People, Rome would often let that People keep their rulers, but under one condition: that People would only trade with Rome. Same principal with Central Bankers. "You can do whatever you want, but you may only trade with us." Because cash allows People to trade with other People, cash allows the possibility that those People might bypass Rome, aka today's Central Bankers.
"the market for undeclared work and drugs could be dried up..."
I don't know whether I should be pissed off or scared to death that people like this are in charge. Are they really THAT fucking stupid?
Their mothers should have eaten them while their heads were still soft.
Well, at least we know where fonestar ended up.
"Coins and bills are obsolete and only reduce the influence of central banks,"
No fucking shit!! that's the whole point of coins and bills you fucking pale faced, dracula looking mother fucker.. set yourself on fire so I can hold a cup of water up and drink it over your burning body.
Just another agent (front) for The Great Red Dragon. First it slimes the victim (with money) then it devours. A perfect symbol for "Snakes In Suits."
Yeah we dont need cash and phyiscal coinage. we will have this nifty new barcode system that will be stamped on your body along with a chip. dont worry we already have a low bid company lined up, Triple Six inc.
No thank you I will continue to stack and go boating
Well, if they can ban cash, I will go GSBB (Gold-Silver-Bitcoin-Bug).
Fuck'em (the Keynesians).
This German Bofinger fella.
If he actually knew what he was talking about, he'd realise that in his own country for example it's next to impossible to find a retail unit which will accept payment using a credit card, bank cheque (check). Even a bank draft is unlikely to be accepted as a means of payment.
Also Germany is the same country which has, if memory serves, still got about DM 12 billion in circulation.
The German likes cash, especially the retention of her old currency
Control.....
They want to steal their IOUs back under writ of law. What a bunch of fucking whiney losers. They need to go bankrupt like anybody else so we can start over. We don't need them.
Predators need to be exterminated so they don't get a chance to start over.
The problem they are perennial. Even the woman in Atlas Shrugged, her brother was one.
There's one in every family.
In the Western world we are seeing unchecked third world immigration championed, lauded, encouraged, and promoted. They are touting the virtues of diversity, fairness, and other post-modern, mulitulturalism, clap-trap.
They want to push social services, welfare, to a crisis stage so that they can then usher in the next big NWO thing. Real ID, be it national, or international, and the cashless society.
They will say, "we need to bring them out of the shadows." They lust after the tax revenues from having a captured economy.
I WILL NOT LIVE IN THAT WORLD.
I will either go GALT, and try to survive, or you will find my cooling corpse on a bed of cooling brass.
Real liberty includes the ability to conduct transactions with counterparties with no oversight. A captured economy is a managed economy, and they WILL pick winners and losers.
Central Planning does not work. So, that is exactly what "they" will use.
One large EMP High Altitude Nuclear Explosion and all the bank's digital currencies would be gone in a millisecond. So for the next 50 years everyone would be forced back to the gold stardard.
Let's hear it for BITCOIN!!!!!!!!!!!!!!!
Let's hear it for all Paper Securities, Bullshit Certificates, the Street Name for stocks that is not the real stock holding which is held by a Holding company who owns your actual stock certificates...
It is all bull shit.
- Bottle a-Front-a-Me
- Physical Metal
- Rare Earth metals
- Jewelry
- Tankers of Crude or Refined Oil, or Tanks of Gas, Propane
- Tanks of Water, Spring, Well, River access, lake access
- Real Property
- Real Estate, Houses
- Buildings
- Port Access
- Free Trade Agreements
- Off Shore Production Facilities
- Off Shore Pipelines, Transportation Contracts, Transportation Facilities
You forgot China White and Bolivian Marching Powder.
And pussy.
Well it looks like they aint short on coke in Germany either.
"Over? Was it over when the Germans bombed Pearl Harbor?"
Dear brilliant #Bofinger, Pol Pot also eliminated cash but only for a very short and bloody time
http://en.wikipedia.org/wiki/Democratic_Kampuchea
The bankers would have to leagalize drugs and let most of the US prison population out when they do this.
Total bootlicker, hope he like Saria law. It's comming asshat to Euroshitland!
Fuck off Nazi asshole!
Yup. It has gotten to the point where human predators feel utterly free to openly admit they are inhuman predators and consider everyone else their prey.
The only question that remains is whether the flush of humans down the toilet spirals in a clockwise or counterclockwise direction.
Clockwise in the North, counter-clockwise in the South. Good toilets are often designed to "assist" initiation of the swirl according to hemisphere. Thus, in Tahiti where the French models are used, it gets confused and just kind of bubbles around. Globalization at work.
Globalist bankster scum can try to ban cash, good luck with that initiative.
You can't ban your way into success.
Does anyone know how to say "suck my dick with everything you've got" in German?
Kraut dildo. Fuck off.
The problem with economists is that they know nothing about commerce.
Keynesian Beauty Contest
$50 gift certificate for the winning example:
Keynesian stimulus was used in the
country _____ in the years ______,
during a __ recession/__ depression,
then the economy turned around within 2
years, and then produced ___ years
of lasting growth WITHOUT A WAR after this.
The increased tax revenue was enough to
pay off all the deficit the stimulus
had created within ______ years.
In 5 years of posting this, no one has ever provided an example. Paul Krugman has no examples.
Keynesian stimulus has been used nigh on 27 years here in the US, and the deficits keep rising. Same for all 20 top western democracies: All have massively increased deficits so they are larger per capita than the US over the last 2 decades. None are paying back the increasing debts. The US has printed $2.9 trillion dollars to prop up the failure, Europe has printed $4 trillion.
ALL THAT THESE CARD CARRYING BIG BANK JERKS WANT IS TO CONTROL ALL BANK TRANSACTIONS AND THE WEALTH OF THE PEOPLE. ACTUALLY, THE BANKS SHOULDN'T EXIST IN THEIR PRESENT FORM.
THEIR REAL INTENTIONS ARE TO CONTROL THE MONEY SUPPLY IN ALL FORMS.
CONTROL OF THE MASSES AND A RETURN TO THE FEUDAL SYSTEM. PAY AS YOU GO. YOU'RE SEEING IT NOW. PAY TO GO OVER BRIDGES, PAY A TOLL TO TRAVEL INTO THE CITIES, PAY CARBON TAXES, P3 PROJECTS, PAY THIS, PAY THAT.
IT IS JUST THE BEGINNING.
Just let me know how the 2nd, 3 year plan works out. Poor old Winston made it to the 9th, 3year plan.
What this clown means, is there will be no more American currency or Americans to spend it according to the babylonian agenda. The chinese yaun will rock on. All as well planned, of course.:
http://investmentwatchblog.com/new-world-reserve-currency-yuan-1-trillio...
HaHaHa! Come get it bitch.
This is How a Sellout Politician Votes:
http://www.targetliberty.com/2015/05/this-is-how-sellout-politician-vote...
We must be clear on the matter. It is not what he says--although that is significant--it is what he is: Fascist running-dog trying to chase us down to our deaths. Keynsian my ass; let us not be distracted from the message. When the paper and coins are gone, control is easier: a disabled identity in the big bank will become an execution, or at best a reduction to the status of invalid beggar.
It is not what he says, not even what he does; it is what he is. Be clear in response and do not be distracted by the words of an "economist". They hire presidents and other elected people to lie to the stupid, and they hire economists to lie to the markets. When they say "we ought to..." then they say what they really are underneath the babbling numbers and deviations.
To all those who claim "they can't take away our cash"... think again. Let me demonstrate how easy this will be. They don't even need "laws".
#1: Require businesses to accept cash [but not give change in cash].
#2: Game over.
You see, the problem some of you have is this. The world doesn't operate as a bunch of independent individuals. While some individuals may regularly disobey the human predators who call themselves "government" and "central bank", corporations will not (and virtually never do).
Why? Because they exist and operate by permission of those predators. They know they're "business franchise" will be revoked if they don't follow the directives. Since the owners of the fictions we call "corporations" understand quite well that a huge percentage of their wealth is unearned wealth due to the special favors granted by government (starting with the very crucial fact they enjoy "limited liability" unlike individual humans). And they know if they lose the ability to operate as a fictitious entity like corporation, they may have to actually earn most of their wealth, rather than only a [usually] small portion (the rest being a consequence of their favored status).
The point is this. If any substantial number of corporations accept cash for their products and services, but DO NOT SPEND cash to buy their supplies...
CASH WILL SOON VANISH.
Perhaps a tiny percentage of "fanatical" (thoughtful and well informed) individuals will only spend cash in barter situations with others they know refuse to spend cash in normal businesses. In which case a tiny quantity of cash will remain in circulations in the black market. Except that quantity is too small to matter in any significant way... AND... gradually kids or theives or other irresponsible creeps will spend small amounts at conventional businesses and the quantity of cash will forever fall.
But even more important (in a positive way), a rather huge number of people will spend their cash (and credit) to buy gold and silver coins and wafers... because they know THAT is the future for barter... not "government fiat paper".
Total bulllshit, you don't know much about the real world.
Oh, yess, that is why they just put a bunch of new 10 euro notes and 2 Euro coins into circulation here. LOL
Like I said, you don't know much about the real world.
What they CAN do is limit the size of notes. Thats why you almost never see a 100 euro note here, the most popular is the 50 euro note and all stores scan them when you purchase something.
Very good points.
The process you describe will happen even more effectively when one considers the hoards of mindless people who exist simply to do as they're told by government, for no other reason than they enjoy doing as they're told. It makes them feel like a good citizen. These are the people who support hi-tech ID cards and their mandated use for every transaction performed in life because "they have nothing to hide". The risks of becoming ever more managed and directed by government goes way over their heads. Those of us who can see the totalitarian nature of such government plans soon begin to look like weirdos and refuseniks.
A cashless society will provide government with the power to "switch us off" whenever they like and for whatever reason they like. Huge opportunities exist for political/state abuse and errors. Who would dare to write a blog which criticised government? They'd soon be labelled a "non-violent terrorist" and find their e-Cash deactivated.
You describe what might happen in the USA., WE have unions here,. in my country 2 unions and virtually everyone is a member. Our elected govt starts fucking us, we SHUT DOWN the COUNTRY.
Simple as that., and thats why they won't.
Dont bet on unions doing the right thing. By its very nature its a self serving organization. Like a cult. So when you say virtually everyone? They will team up on everyone not in their unions. Who is not in the unions if I may ask?
I don't think you understand unions . You think its like unions in the USA.
Housewives, unemployed, students. everyone is in a union. I pay 8 Euros a month for dues and that includes FREE legal and they have team of attorneys.
Works Great. They got me a 50k payout when the company I worked for tried to buy me off cheap, Union came in with lawyers, we went to court and I got triple .
LOL
Why are you laughing? Are you American?
You are one of those who imagine the system works for them. You will find out soon enough that others control that system, not you. And they only care that system works for them, not you.
Every huge lie has a grain or two of truth. And every scam starts with a few legitimate advantages. Once secured, however (they have you by the neck, and you depend on them), those in control screw the royal piss out of everyone involved.
You'll see. I guarantee that. And I'm sure they're raping the crap out of you now in ways you are [successfully so far] brainwashed not to notice. Whenever you turn over any aspect of your life to others, you end up royally screwed. And you always will.
Look Bozo, I lived 35 years in the USA before escaping. I worked totally TAX FREE overseas for 12 years., I now live in Europe and am happily retired. I have paid minium taxes most of my life because I know how to play the game.
Suggest you start learning also and if you are smart you will escape the Useless Snakes.
Are you American? If so , add up your withholding they take out of your salary. What if you put that money into an interest bearing account for 20 years? Get the idea?
As per IRS code you can earn up to 90k a year tax free working overseas.
Get the picture?
I doubt it.
Learn how to play the game, son.
I guess you live in a cabin in the woods in Montana , building pipe bombs. LOL
You better STFU and learn something from people who have experience like me.
Idiot!!!!!!!!!
No, but I do live in the southern hemisphere 125km from the nearest human being in my self-sufficient digs in an environment I love (beautiful geology and scenery, great weather all year, peace, quiet and solitude). I owe nobody. I obey nobody. I need nobody.
I am now 100% self-sufficient in every way, and am now set up to live a happy life without any input from any other human being on planet earth. If all humans died tomorrow, I'd live the rest of my life the same as I live it now... except I'd stop posting messages in ZH. I have traveled to 18 fictional nations (for fun and exploration) without passport or visa or notice or permission in my little airplane. I do not need or deal with banks, financial-institutions or fiat, fake, fraud, fiction, fantasy, fractional-reserve paper or computer-bits.
I'm just a very independent little girl, born in China, who moved to Maui for many years until I wised up and "got the hell outta dodge". So I understand the USSA rather well from first-hand experience, and I understand the nature of predators-DBA-governments (and other fictitious organizations) too. Somehow, I'm quite sure I don't need to learn anything from you, or any other advocate of powerful human predators (so-called "unions" included).
But... enjoy your ignorance while you can. It won't last. You'll see.
I am almost 70 and been to 73 countries during my years in aviation.
You call me ignorant? I call you a little cunt who sucked her way around the world.
The CNV finds inspiration in Christian social thinking has its roots in the Gospel.
Well... Anyway I guess I can't live or work in the EU. Eu is kind of Exclusive. Funny I met people that wanted to live and work in Nederlands and Cobenhaven from England. Flower business I guess. Maybe US Military uses Nederland Ports??
I wonder if it is possible to live in Portugal or Spain without getting in trouble on the 6 month VISA or 90 Day VISA problem for US Citizens.
You are so full of crap. LOL.
Are you up voting yourself?
Also we get 5 week vacations per year. thats the LAW. thanks to unions.
Here is my union. https://www.cnv.nl/
Check out WB7. Moo are here.
Moo are here? All your comments are gibberish. You must be American.
You dont know the food and beverage guy? Interesting.
More gibberish, do you like commenting in code?
You know what is ''self serving''?? Churches ,they feed the sheeple bulllshit and the preacher lives comfortably in his home paid for by the sheeple. TAX FREE.
Two wrongs dont make a right.
Actually, as a Brit I was describing what happened in the UK when Tony Blair and his cronies tried to intro ID Cards. MSM did its part by wheeling out hoards of 7-second soundbites from people who claimed to support them because it would make them "feel safer". I recall one middle-age woman saying "I would quite like to be able to easily identify myself", without mentioning why she might have the need to do that. I also imagined an old lady being mugged on the street by some thug would demand he showed her his ID Card so she could report him to the police. ho-ho.
Several months ago, MSM (Sky News) was at it again when it broadcast super-positive propaganda footage of an experiment in Manchester when cash was voluntarily not used for a 24 hour period in shops, bars etc. The people involved simply loved it. Most said they found it much more convenient. Not one person who had concerns about the sinister implications was interviewed. Sky never released the name of the organisers of that experiment, but they were undoubtedly connected to government. It was nothing less than soft-prop to get people accustomed to living in a cashless society. A dry run if you will.
I doubt very much if your country's (NL?) unions would stand in the way because they are themselves strongly authoritarian and not so supportive of their members as people assume.
As my old daddy used to say about trade unions in his day, their unsung battle cry was "Stuff the red flag up yer ass, I've got the foreman's job at last." The oppressed became the oppressors in the wink of eye.
You evidently dont know much about our unions. They are fighting tooth and nail now against the TTIP.
You are only 80 nautical miles away but the difference is like night and day between UK and NL.
You are like the USA. a nation of shitheads.
"You evidently dont know much about our unions."
Wrong. I know plenty about British trade unions. The big ones rarely had any interest in their members. They were all about manipulating members to overthrow government and seize control of the country to run it like a branch office of the Soviet Union. Arthur Scargill comes to mind. He's gone now but several of the current leaders remain in his mould. The rail and teachers unions (the latter suitably called "NUT" - National Union of Teachers) for example. All run by commies who quickly become fascist given the chance and a limo to ride around in.
I grant you, in mainland Europe they might be more social democratic.
Yeah reminds me of something about US Unions. They are very smart about benefits of all kinds and finance. They certainly know something about power and the value of union dues and drawing a crowd of supporters to face whatever new 'issue' comes up.
I wonder if some American can provide specifics along the vein of your experience for me here...
I know turn of the 20th Century saw many Americans attracted to Wobblies and Unions... at the same time Government and Big Business new all about a Threat of Communism within Unions and about Union Organizers Educating people in a style of Communism. First Phase of Communism was to Educate.
But it takes two to fight.
I agree that people can change ideology in a flash if they were given union power or became management. Funny thing that.
People are corrupted by power & money & Position. It is no wonder that workers are abused, that people are greedy, and that Accounting Control Fraud is a big problem (and in Banks).
DB, Smacker does not like anything Dutch. Like most English he cannot stand that you are better at football than them.
tch tch. What are you smoking in your pipe? I don't recall ever discussing anything Dutch before. I've only ever been there twice: once to Amsterdam and once to Uithoorn on a business trip.
In case you missed it, my earlier comments were about "trade unions", not the Dutch people and I'm happy to accept that those in NL and mainland Europe are more responsible than many of those in the UK.
Smacker, I admire the streangth of your character, to be able to watch TV and report to us (I skipped mine years ago) the standard TV propaganda.
PS: do you still pay the TV licence?
Thanks.
No, I have nothing to do with the TV licence folks. I watch a neighbour's TV thru a pair of binoculars and I'm good at lip reading(!!) . Honest guv ;-)
Barter works best for producers. Fiat works best for non producers. We are about to find out who needs who. Man this is gonna suck.
comments like that make me want to double down on metals
AMEN.....1oz silver bars will substitute nicely for $20 bills when the time comes.
How is the weather in cloud coo-coo land? This is 2015, not 1840 LOL
Stupid. Evil. Like Obamacare. And stupid and evil governments are prone to do such things.
Bring back Debtors Prisons - then execute 535 + ICiC
And so, Herr Bofinger, what will you do when we open
BARTERTOWN.
"Coins and bills are obsolete and only reduce the influence of central banks."
Exactly, and that is why we should keep them.
even 10 years ago, a Johannesburg cab driver said ''No dollars accepted, only Euros or Rand(local currency).
Peter Bofinger ban proposed by ZH readers
Bitcoin users are not affected by criminal organizations like the central banks.
Coins and bills are [absofukkinglutelynot] obsolete and only reduce the influence of central banks.
Win-Win-Win Dewdles!
We used to have braille on all our Dutch guilder notes (for the blind). The Euro did away with that, instead them make the notes different sizes.
Most people here would love to go back to the German Mark and Guilder. fuck the Euro and fuck Brussels.
Cash is King, the King is dead
The new king doesn't even look like the Kinj, doesn't feel like King or even smell like a King.
fraud is the new king, money not based on anything, money that doesn't even represent anything is money.
I think we should go back to trading chickens and cows, at least you knew how many chickens it is to buy a cow and it doesn't change from one year to the next.
Good idea, if you are a waiter I will give you either a large chicken or a little chick as a tip after dinner.
Keynesian is the art of propaganda, although little else I might know this I will say... Deposing the disciples of the gold standard removes us further from the gold standard, which was always never alright, with 'just one more hit and it will be alright" addicted to the carrot on the stick. In the centralization of power only those calling the shots have the power, anything else discarded as obsolete in short time. Your economic self will lead you, and you will follow its dictates, transformed from a greed based superiority complex to an intellectual practical construct, but only for a short time on its continued path downward to my lair.
This is one man talking, and if the world were to listen, then it not only kills the clandestine trade of illicit substances and means of sustenance, but precious metals will no longer have the same relevance to liquidity of currency. In fact liquidity will be controlled in all matters. Liquidity is also a control for inflation, which just might be why the numbers can be stacked so high and to one side in the current climate,
Taking the medium of freedom after a long strangulation will show the underbelly of the beast, it will writhe and fight, spit fire and descend into a repressed rage, sickening the people to the core, and the journey into the future will read it as progress in the uncharted waters as we all travel together only holding our own perception of relevance against those who ride with us.
If you were in the business of torturing souls, this would be a good move.
Dear Z-Heads,
here are some contact infos of the guy in question:
http://www.wiwi.uni-wuerzburg.de/lehrstuhl/vwl1/team/bofinger/
Feel free to fax him some black pages, order pizza or just give him a call.
I know I will :-).
Reach out and touch someone!
LOL, send him a 10 eurocent ''tip''
There are clowns in every govt. This clown will get nowhere. Unfortunately for you guys, you have 535 clowns in govt.
Was chatting with some locals about this. They had a good laugh.
The list of things that depend on some sort of coins or cash is too long to list here.
You can Fax him and tell him he is a 'Bloede Arschloch''.
If you believe the Bible, this has been predicted by St. John.
However, even from a secular point of view, a Huge Crash allows CBs to remove cash, issue a CC and have complete control of your 'resources.'
I think this is their goal.
Barter is gonna come back big time, black maket, too.
Barter and black market have been prevalent for years. Little is discussed about it.
If I am a bricklayer and layer your driveway and You are an electrician and wire my house. This goes on all the time here but everyone knows to keep their mouth shut when doing it.
Just the way it is.
Dear DB15,
I understand that the Dutch Unions have helped get many good things done, including a simple, low cost pensions system.
In the experience of many of ZH readers, the idea that power corrupts, and absolute power corrupts absolutely, rings a very loud alarm bell.
Across most of the western world, trade unions and other restrictive practices guilds, become very powerful at certain times in their evolution, and not very accountable to their members. Perhaps you have been very lucky in Netherlands up until now, but two major unions does not suggest a very democratic way of running things.
Two unions will no doubt become one (for efficiency sake of course), then you won't need a government, and you won't need a free will any more either.
Hoping this doesn't bust your spleen
LOL spleen intact, but the unions have been around for 50 years and no sign of combining. Oh, BTW, unions here are not the same as in USA. Its for everyone, students, housewives, unemployed, etc. NOT some trade. Again,if our ELECTED senators and reps start fucking around we have the power to SHUT down the COUNTRY and unlike in the USA, people would be UNITED here.
Having lived 35 years in the USA, I don't think its very democratic that I have to register to vote and then declare some party.
After moving here and become Dutch again,. they send my voting card 4 weeks before an election and all ballots are PAPER now. We did away with electronic voting because we saw what happened in the USA. Too easy to hack and fraud.
To give example of our system. I go to my nearest precinct (in my case a grade school) and 3 people check my ID and see if I am legal. They hand me ballot , I go into booth and mark ballot and then pop it in CLOSED box as 3 people look on.
Obama says if we like our corruption, we can keep our corruption.
But for this, and other reasons, I envy the NL. Except that you folks don't seem to remember history any better than we.
If you use Chrome , it will translate this automatically
https://www.cnv.nl/
http://new.euro-med.dk/20150515-nwo-central-banks-planning-to-abolish-ca...
Watching MotoGP on Eurosport Germany,.
https://www.youtube.com/watch?v=fyTcKrTtsR8
Here is a good way to pick up some quick cash, Go to your local betting store and bet that CASH will not be outlawed. Should make you a bundle.
A. The growth paradigm is a false paradigm. REAL growth comes from more people being included in the economy. Increased efficiency/productivity hurts real growth. Stratification hurts growth.
B. The large-scale CIA/Zio-Nazi drug trade will not dry up. It will then move to gold or another portable commodity or banks will covertly support it as they do now.
C. The biggest problem with monetary policy is how it has murdered the invisible hand of the free markets in an attempt to create stability at all costs and thereby caused massive misallocation of capital. Contrary to banker belief, the broken window philosophy is wrong. Yes, a broken window does benefit a bank as much as a new window, but it is a net negative on society because it is a misallocation of capital.
D. There appear to be only two purposes to inflation: 1. to obscure real growth. 2. To ensure the banks never become obsolete and avoidable. Labor could pay off loans with interest (and in the 1960s almost did for many companies), but not in an inflationary environment. Inflation is for the banks benefit and no one else's.
The central bankers have already proven that then are a net negative on the world. They cannot provide hope. They do not produce. They do not invent anything of use to the people. All they do is parasitically suck the life out of the world and live like kings.
Professor is dumb... or more likely he personally benefits from using his position of authority to propagandize for the banks.
I call for a ban on economists - if an economist has never had to "make payroll", he or she needs to have a large, capital "M" tattooed on his or her forehead, signifying: MORON.....
Opinions are like assholes. everyone has one. Everyone could be an economist and you like a clock could be right twice a day.
It amazes me how many people actually listen to these clowns.
REading the comments here, I see that many people think they are aiming to ban all CASH,
Thats pure HORSESHIT. What they WILL and ARE already doing is disallowing Large BILS like 100 euro notes to be used and also limit the amount you can pull out of your account.This has been ongoing for quite some time.
They are NOT going to ban 10, 20 and 50 euro notes and COINS which are used everyday in many places like tipping, open markets., parking meters etc etc,
EVeryone here is freaking out ,
If they were going to ban CASH, then why did they just spend millions minting new 2 Euro coins and 10 Euro notes?
This German 'arschloch'' is an idiot like most economists.
'...why did they just spend millions minting new 2 Euro coins and 10 Euro notes?'
It is not their money so they do not care.
They will attempt to implement a 'cashless' society and it will be as successful as our 'paperless' society.
I am long on hemp - for legalization and for rope.
Oh, you don't have cash? Is your Ashley home from college then?
NO Cash? did you let wife out to the mall?
Agree with DutchBoy on this: At least during a transition period small notes and coins will persist. At any point, however, they'll get to your stash of cash by issuing new notes and declare the old ones null and void after a temporay option to exchange at a ratio of 1:10 or 1:100.
Should they stoop into that, community currencies will be the new medium of exchange - at least for more or less local transactions:
http://en.wikipedia.org/wiki/List_of_community_currencies_in_the_United_...
I remember when we switched over from Guilders to Euros. Lots of people were still going around mentally switching to guilders to see how badly we were getting fucked.
I told some of my friends., what difference does it make? You will be paying in Euros. so forget about the past.
And we still have a 19 century eletrical grid. my money going into GOLD baby!!!