Abolishing Cash – The New Age Of Economic Totalitarianism

Tyler Durden's picture

Submitted by Martin Armstrong via Armstrong Economics,

Europe is moving full speed ahead to eliminate all cash.

Euro Bank Notes

 

Instead of reforming and tackling the economic problems, government always seeks to maintain the same course of thinking that now leads us to the totalitarian approach coming from Brussels.

To maintain the euro, they must maintain the banks. However, the bank reserves are debts of all member states. As government becomes insolvent as in Greece, the banking system is undermined. The only way to prevent the banking collapse is to prevent people from withdrawing cash.

Hence, we see this trend is surfacing in all the mainstream press to get the people ready for what is coming after 2015.75 – the elimination of cash. We are even starting to see this advocated in parts of Germany. We will not be able to buy or sell anything without government approval. That is where we are going, and it may be the major event that erupts after 2015.75.

TigerVsheep

 

The bail-in that took place in Cyprus managed to get away without bloodshed. The people just took it.

This has encouraged governments everywhere, since now they know they can safely do the same thing and the people are like sheep – dumb and stupid.

Sheep Herd

 

Just how much will society take before they say no?

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CH1's picture

Just how much will society take before they say no?

Evidently a hell of a lot.

Looney's picture

Slightly OT, but it is hilarious!

If you think that Greece’s reparation claims against Germany are too old or frivolous, check this out! Ukrainian government has just submitted a claim to Mongolia’s Great State Khural (Mongolian parliament) demanding reparations for Batu Khan’s invasion of Ukraine in the 13-th century.

What are those people smoking or sniffing? I gotta get me some of that shit too! ;-)

Looney

P.S. Batu Khan was the famous ruler of the Golden Horde and a grandson of Genghis Khan.

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

kaiserhoff's picture

He who would be a leader among sheep,

  is first and foremost, a sheep.

                 Albert Einstein

Supernova Born's picture

Inflation will take care of the utility of currency if they stick with the $100 maximum.

Captain Debtcrash's picture
Captain Debtcrash (not verified) Supernova Born May 18, 2015 5:41 PM

Most today don’t understand the freedom cash provides, the adults that lived through the great depression sure did.

Banning cash is only to impliment negative rates, and will not result in just bubbles like lowe interest rates did, but super asset bubbles the likes of which we have never seen.

Citxmech's picture

I spent a lot of quality time with my depression-era grandparents - and let me tell you, I carry the lessons they taught me to this day.

TeethVillage88s's picture

One more trip to Israel will fix the Economy, the banking, the ZIRP, the Lobby, the Press, the Govt Stats, and Too much power in DC & Wall Street.

Presidential Hopefuls interfere with Congress & Ignore Domestic Policy, Catastrophic Banking Failures, Systemic Job Loses, Systemic Decapitalization of Industry, Systemic Deconstruction of US Economy... But they have Time to Visit Israel.

http://fox6now.com/2015/05/17/on-heels-of-trip-to-israel-governor-walker...

As presidential field broadens, GOP candidates race to show their ...
www.mondoweiss.net/2015/05/presidential-broadens-candidates
May 7, 2015 ... Carly Fiorina promises to make Israel her first phone call as president. Mike Huckabee is just nuts about Israel. Jeb Bush calls settlements ...

Carly Fiorina promises to make Israel her first phone call as president. As with her fellow candidates Fiorina too has traveled to Israel, during her 2010 attempt to unseat senate Democrat Barbara Boxer (CA).

Mike Huckabee is “just nuts” about Israel. By his own admission he has visited Israel on countless occasions.

Ben Carson wants to transfer the Palestinians to Egypt. ike Huckabee, he traveled to Israel in the months leading up to announcing his candidacy. The excursion was organized by the “Face of Israel,”

Marco Rubio has taken to dining with top-donor Sheldon Adelson. Rubio is rubbing elbows with his long-time pal, billionaire and pro-Israel GOP donor Norman Braman. The two traveled to Israel together in 2010.

Ted Cruz is making the rounds with Fire Island’s pro-Israel community (and many others).

Lindsey Graham who has not announced his bid, said if he is president he will have the first “all-Jewish” cabinet.

Kentucky Senator Rand Paul entered the race in early April. He is a self-proclaimed strong ally of Israel

Jeb Bush came out strongly in support of Israel—and its settlement project in the occupied Palestinian territory, which stands in contrast to J Street’s stated goal of ending the Israeli occupation.

-

Netanyahu Endorses Ted Cruz in US Presidential Race
www.conservativefifty.com/ breaking-netanyahu-endorses-candidate-in-u-s-presidential-race

SafelyGraze's picture

nice article and great picture.

that was my family reunion from a couple of summers ago.

clover. running water. sunshine. barbed wire to keep the dogs out.

and the lions.

good times. 

MonetaryApostate's picture

I've already warned the sheep, it's up to them to take the advice or not....

http://galeinnes.blogspot.com/2014/07/avoiding-financial-terrorism.html

Simplifiedfrisbee's picture

Millionairs are not under attack and neither are billionairs. The concept of bank runs is non existent in their vocabulary not to mention the very fact that they own industries and technology. 

The middle and lower class is strictly under attack because they fear a system that has them brittle against the iron fist of debt. This is a direct attack on the poor especially. A person with $20,000 is far more insecure of his/her money than someone who has $2,000,000. When the system has been on your side and the methods of expolitation have ensured your family a level among the hierarchical triangle, then fear is only present as method of preparation. Investors term it diversification.

A friend of mine told me during the new year, that all middle class americans should pull out their money on the 1st of Janurary to show banks who is boss. I thought to myself, "what a radical thought that is." I then told him, and after they pull the money out? How would the Old Bernank respond? How would the gubmint respond? Indeed they would be very upset and penalize those pesky peasants who demand financial control. 

A great man once said, "Our government is founded upon the intelligence of the people. I for one do not despair of the republic. I have great confidence in the virtue of the great majority of the people, and I cannot fear the result."

seek's picture

My parents were raised in the depression, they (and I) suffered through the 70s inflation as well. There is little doubt what knowledged they passed along and what I picked up as a child lead to me being a 1%er (the working kind) today.

Lesson #1: sure as shit, you can't depend on the gov't to get you out of a mess, only to get you into one. If they successfully ban cash, it'll be the into one part at work.

NoDebt's picture

I think we're missing the larger point here.  They're not going to ban cash- they know they can't do it (yet).  They're using this extreme to get a policy foot in the door.  Go for the whole shooting match, then back off to what you really wanted in the first place.  In this case, I think it's the entre to NWO/single currency thing.  They want that a LOT more than they care about the pittance of cash that slips through their fingers via the usual means.

Negative interest rates don't scare them.  They care not a whit about bank deposits, most of which CAN'T move into cash for various reasons.  Deposits are a LIABILITY to banks, please remember.

BandGap's picture

Makes you wonder why they went to EBT cards over food stamps and welfare checks.

kaiserhoff's picture

Good points.

They lie so much they forget how to do anything else.

Captain Debtcrash's picture
Captain Debtcrash (not verified) NoDebt May 18, 2015 6:21 PM

Deposits are only a liability once the bank has used the money to make a loan or buy another asset, but yes they are the responsibility of the bank to pay back.  Granted things are a little different considering we are under a capital and not a reserve requierment system.  That said they still want you to be forced into their system, which banning cash does.  

Deposit insurance got people to put money back into the system; do you think the banks lobbied for or against federally insured deposits? 

Why don't you think they can't ban cash, all it takes is one little crisis, and the populous will go along with anything. I have no opinion on the NWO stuff, there may be truth to it but I have seen no evidence.

Lurk Skywatcher's picture

Will they ban bartering? Taxless exchange of goods and services with no record...

They will try, and probably only because they have no marketable skills to speak of.

 

Panopticon 131's picture

BINGO!  Exactly correct.  

 

Armstrong is running with a weak limited hangout.  A cashless society is about constant tracking and control.  TPTP already control all the major capital flows.  

Panopticon 131's picture

BINGO!  Exactly correct.  

 

Armstrong is running with a weak limited hangout.  A cashless society is about constant tracking and control.  TPTP already control all the major capital flows.  

AIIB's picture

"Just how much will society take before they say no?"

 

Actually ~ Someone (MYSELF)... DID say 'NO'... to the mathematical 325 million to 1 impossibility of having all jew FED Chairs since:

 

- Bretton Woods was abandoned

- Money counterfeitting began in earnest

- many thousands of jew billionaires have been freshly minted in that same time period

- corruption (MSM, political activism, jurisprudence), is at an ALL TIME HIGH since then...

 

My reward?

 

YOU... YOURSELF has been responsible for banning francis_sawyer & his ghosts from ZH while you continue on & pretend to be an advocate...

Billy the Poet's picture
The Double Identity of an "Anti-Semitic" Commenter

 

http://www.commondreams.org/hambaconeggs

AIIB's picture

and so even the false phophet SYCHOPHANTS, have their disciples...

 

Take heed where you plant your tent poles, my ambitious son...

Usurious's picture
Usurious (not verified) AIIB May 18, 2015 9:51 PM

 

 

francis changed my life and for that I am eternally grateful........

 

 

HowdyDoody's picture

The Tribe has a very long memory for crimes against them and a very short memory for their greater crimes against others.

MonetaryApostate's picture

The tribe went east, you have been warned......

 

(Money follows good management.)

pcrs's picture

Can't find a link which confirms that.

TeethVillage88s's picture

Maybe Mind Control has saved US from Regional War so far.

I could see backwoods guys taking offense to the Federal Authority... about Alcohol, about Marijuana Crops, about Trade and Commerce that doesn't involve sex and drug...

Well like from Appalachia, PA, WV, TN, KY...

But we really haven't got strong cultural identities within states or regions that have led to war or civil war.

-

Is it a Union Plan from the 19th Century, is it luck, is it Prussian Education System, or Federal Education System, or a kind of Propaganda put out in the MSM & Education System?

Anyway as polarized as we are in Federal Politics we haven't ripped each other apart yet. But it is like we have 12 different polarities in this country. I would guess that some impetus to migrate would actually help people feel happier.

eddiebe's picture

My guess too. Likely a whole lot more. 

mickeyman's picture

I'm mad as hell and I'm not going to take it for too many more years!!!!

chrsn's picture

The power of stupidity is capable of toppling even the greatest of civilizations.

T-NUTZ's picture

BAAAAAAAAD News!

11b40's picture

Sounds just like the British Parliament.

Sudden Debt's picture

Yeah, brits and farm animals... the kind of relation they have is illegal in most parts of the world...

Winston Churchill's picture

Thats the Welsh you are talking about.

The Irish that couldnt swim.

TeethVillage88s's picture

Idiocracy Movie Link? I had one last week, but no good this week.

saints51's picture

Eliminating cash will eliminate the drug trade. I don't see groups like CIA,MI6,etc,etc allowing this to happen.

hungrydweller's picture

Until ALL drugs are made legal.

saints51's picture

I agree but again I state the same response. Do we believe groups like the CIA,MI6,etc,etc will allow illegal drugs to become legal? That is one hell of a slush fund for these corporations.

LostAtSea's picture

you seem to be under the impression that the rule of law still exists.

Sudden Debt's picture

We don’t call it drugs anymore, we call them GDP

CrazyCooter's picture

The drug dealers need a national lobby group, like NAR, so they can bypass all the laws and take EBT and stuff.

NADD, National Association of Drug Dealers.

Regards,

Cooter

saints51's picture

lol have to go back to actual food stamps.

Jtrillian's picture

Interesting thought.  They could just move into bitcoin which many international dealers are doing now. 

saints51's picture

Thats true too but I believe it may leave a trail. They need to convert large amounts of bitcoin into a currency accepted anywhere. Would it disrupt the bitcoin market? I just do not see how that would work for them.

JustUsChickensHere's picture

It is very early days with Bitcoin and even earlier with Dash (rebranded DarkCoin) .... but crypto currencies are an electronic cash .... IE. Not held or issued by a bank.  Strictly electronic of course, which has some advantages and some disadvantages when compared to physical cash.

The disadvantages are  (1) the possible tracking of transactions (Dash addresses that), and (2) the need for a functioning network., (3) currently only accepted by a small number of people.

The advantages are (1) invisible to other thieves (aka the DEA), (2) vastly more portable than physical cash, (3) can not be counterfieted.

Bitcoin like cash, has no counterparty risk. With careful security it can not be siezed.  Both cash (any currency including PM's) and Bitcoin have systemic risk... they all rely on shared faith that they can be exchanged for real items of value in the future.

FreeMoney's picture

Fiat Money, what ever its form, only has the power we give it through belief.

Prior to Fiat there was Fiat backed by precious metals

Prior to backed Fiat there were PM minted coinage.  Silver dollars, english sovereigns ect.

Prior to minted coin there was barter

Do you really think there was no drugs, gambling, or prostitution prior to Fiat?

Kirk2NCC1701's picture

Your thinking is linear and 2-step.  'Merican*?

Eliminating cash has deeper implications and many consequences -- far worse than the drug trade.

The worst one is that YOU become the walking, talking currency currency.  Not only are your purchases and habits tagged and tracked in real time, but so are you.  

You, your habits, and your relationships will be analyzed and  coded.  Adaptive predictive models will anticipate your purchases.  Welcome to the NWO preserve.  Starting with any kind of Cash Limit, no matter its level, sets precedent for lowering said Ceiling in the future -- thanks to Plastic, Phones, Crypto-currencies and Biometrics  (fingerprints, voice prints, etc.).  BTW, every time you try to pay hills by phone and it lets you make a selection by dial pad or by voice, the voice part is added to NSA's collection of your voice prints, for future analysis and usage.

 

* "The land of simple solutions for simple people"

silverer's picture

I'm not so sure.  The transaction would have to be identified as a drug trade.  What if a person bought a "painting"?  That's what the transaction record shows.  All documented, all the paperwork in order.  Except the painting wasn't worth $10,000.  But hey, it was worth it to the buyer.  But it wasn't just the painting he got for 10K, of course.