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The War On Cash Is Advancing On All Fronts: "First They Came For The Pennies..."
Submitted by Don Quijones via WolfStreet.com,
The War on Cash is advancing on all fronts. One region that has hogged the headlines with its war against physical currency is Scandinavia. Sweden became the first country to enlist its own citizens as largely willing guinea pigs in a dystopian economic experiment: negative interest rates in a cashless society. As Credit Suisse reports, no matter where you go or what you want to purchase, you will find a small ubiquitous sign saying “Vi hanterar ej kontanter” (“We don’t accept cash”):
Whether it’s for mulled wine at the Christmas market, a beer at the bar, even the smallest charge is settled digitally. Even the homeless vendors of the street newspapers Faktum and Situation Stockholm carry mobile card readers.
A similar situation is unfolding in Denmark, where nearly 40% of the paying demographic use MobilePay, a Danske Bank app that allows all payments to be completed via smartphone. With more and more retailers rejecting physical money, a cashless society is “no longer an illusion but a vision that can be fulfilled within a reasonable time frame,” says Michael Busk-Jepsen, executive director of the Danish Bankers Association.
World’s Biggest Cashless Laboratory
While Sweden and Denmark may be the two nations that are closest to banning cash outright, the most important testing ground for cashless economics is half a world away, in sub-Saharan Africa.
In many African countries, going cashless is not merely a matter of basic convenience (as it is in Scandinavia); it is a matter of basic survival. Less than 30% of the population have bank accounts, and even fewer have credit cards. But almost everyone has a mobile phone. Now, thanks to the massive surge in uptake of mobile communications as well as the huge numbers of unbanked citizens, Africa has become the perfect place for the world’s biggest social experiment with cashless living.
Western NGOs and GOs (Government Organizations) are working hand-in-hand with banks, telecom companies and local authorities to replace cash with mobile money alternatives. The organizations involved include Citi Group, Mastercard, VISA, Vodafone, USAID, and the Bill and Melinda Gates Foundation.
In Kenya the funds transferred by the biggest mobile money operator, M-Pesa (a division of Vodafone), account for more than 25% of the country’s GDP. In Africa’s most populous nation, Nigeria, the government launched a Mastercard-branded biometric national ID card, which also doubles up as a payment card. The “service” provides Mastercard with direct access to over 170 million potential customers, not to mention all their personal and biometric data.
The company also recently won a government contract to design the Huduma Card, which will be used for paying State services. For Mastercard these partnerships with government are essential for achieving its lofty vision of creating a “world beyond cash.”
A New Frontier
In India an even more ambitious project is under way: the Unique Identification Authority of India (UIDAI), which aims to create a centralized voter enrolment system for 1.2 billion people. It will be the largest identity platform and biometric database in the world. There’s only one snag: according to its creators, the only way to make the system work effectively will be through the widespread adoption of electronic payment systems, side by side, as always, with biometric recognition systems.
Given that cash is still king on the subcontinent, the government may have its work cut out. Finance minister Arun Jaitley has repeatedly underscored the need to transform India into a cashless economy, supposedly to “rein in the problem of black money.” However, with its huge informal economy, India remains the largest producer and consumer of currency notes after China (as well as the biggest consumer of gold).
Here’s more from India’s Financial Express:
Currently less than 5% of all payments are done electronically. Results from the ICE 360 Cash Survey 2014 show that cash is the preferred mode of payment even in Delhi, the most affluent and developed metropolis. Nearly 73% of all purchases by Delhi consumers are paid for in cash and only 17% by card.
Naturally the Indian government will do all it can to change this situation. In an article in the Daily Mail Nandan Nilekani, one of the technocrats behind UIDAI, urges the government to lead the way. “The government must be the initial driver, using the heft and reach of its social security schemes to drive the adoption of an electronic payments model,” Nilekani asserts. “As momentum grows, private players can step in.”
Those private players will no doubt include banks. After all, in a world where every transaction – or at least every “official” transaction – must be electronic, the power of banks over individuals is likely to dramatically increase, as Brett Scott warns in an article for The Guardian:
With this comes the specter of bank surveillance, where every transaction you ever partake in is authorized and recorded by a privately run commercial bank, giving it a transaction-by-transaction history of your entire commercial life. If such a bank does not like an enterprise – such as Wikileaks – it can just freeze it out.
The New Cost of Doing Business
An oft-overlooked benefit of cash transactions is that there is no intermediary. One party pays the other party in mutually accepted currency and not a single middleman gets to wet his beak.
In a cashless society there will be nothing stopping banks or other financial mediators from taking a small piece of every single transaction. They would also be able to use – and potentially abuse – the massive deposits of data they collect on their customers’ payment behavior. This information is of huge interest and value to retail marketing departments, other financial institutions, insurance companies, governments, secret services, and a host of other organizations.
Another very important perk of cash is that it significantly limits central banks’ ability to continue conducting arguably the greatest financial heist of the modern age, i.e., negative interest rate policy (NIRP). The only way that central banks can maintain negative interest rates ad infinitum is by abolishing cash altogether, as the Bank of England chief economist Andrew Hadlaine all but admitted. As long as cash exists, there’s no way of preventing depositors from doing the logical thing – i.e. taking their money out of the bank and parking it where the erosive effects of NIRP can’t reach it.
So in order to save a financial system that is morally beyond the pale and stopped serving the basic needs of the real economy a long time ago, governments and central banks must do away with the last remaining thing that gives people a small semblance of privacy, anonymity, and personal freedom in their increasingly controlled and surveyed lives.
The biggest tragedy of all is that the governments and banks’ strongest ally in their War on Cash is the general public itself. As long as people continue to abandon the use of cash, for the sake of a few minor gains in convenience, the war on cash is already won.
A war conducted by bankers, politicians, academics, even startup guys.
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Anything rare and high quality, basically. Rare old axes sell for hundreds or even thousands of dollars, and well-made new ones retain most of their value. There are craft knifemakers in the US with long waiting lists for a custom, some will then sell for hundreds more than new price, even double or triple, just because people want to avoid the years-long waiting list.
Guitars, cars, quality furniture, tools, clothes like Filson. Basically old-economy goods made with skill will retain a lot of their value. Pawn shops don't pay much, maybe 5-10% of value or 20% of what they sell for.
Livestock and working animals are another option. You can make thousands selling or training hunting dogs. Protection dogs even moreso, but the customers would generally be bankster/government scum.
To really barter is basically like you said though, who's going to trust this random guy? You either need connections to 'communes' or the criminal underground. Farming and blacksmithing are about the best options that would allow you to barter with the average neighbour.
How rare is the item? What quality are the materials and who can repair them? How hard is it to replicate, or how much skill goes into it? How necessary is the item for people to live? And how long will it last? Combine those things to get the true value of items.
@ general Amber
WEED......there is very little you can't buy with weed. As for "communes and criminal underground"......don't look down on these "elements " as you will be a part of one or the other soon enough. Good news though.....they are better class of people than the jackals that sit behind a desk.
Good points.
Laundry soap, ammo, and whiskey are as good as dollars when you are among the 20+% unemployed and living day to day.
the pawn resale value of anything almost new if you are in no real hurry to unload it, is about 1/2 retail, smart used buyers know they can get most used stuff in good condition at 1/2 price if again they are not in any hurry for it..
I think this is a very trenchant observation. What is to stop someone from putting $19.00 down on the counter, taking a video of same and walking out the door with the goods?
You have tendered the amount owed in legitimate US currency. How can it be theft? This should generate some very interesting court cases.
It might be time to get more familiar with the legal tender laws, what they do and how those who say they don't accept cash would try to get around them.
I'm open to suggestions.
I've research it a little, and apparently the key is the word "debt." The legal currency laws apply to debt, so if you owe a debt, they have to take cash. If you don't owe a debt, they're not required to take it.
It seems like a fine point to split, but that's the law for you. So you sit down to eat dinner at a restaurant, you're actually incurring a debt, you've eaten the food and not paid. They have to take your cash as payment. The convienience store that won't take anything bigger than a $20 bill doesn't allow you to create a debt first, you pre-pay on everything from gas to chewing gum.
PC equality laws aside, they can't really force someone to make a transaction with a particular mode of payment until it's been accepted by both parties..
Which gets into why the system is so coercive. The currency is backed, in large part, via debt. Everybody in the developed world either knows people with significant amounts of debt, or has significant amounts of debt themselves. You know that somebody will almost certainly accept your FRNs, because most people are in debt. Yet the amount of debt must continue to increase, else the Ponzi comes tumbling down.
nor should they. many of us here complain about the fed pushing their toilet paper-based FRNs on society to the detriment of real money, so we shouldn't be keen on using legal tender laws to try to force someone to accept a form of payment they don't want.
keep it voluntary, keep it real.
The U.S. Government has been cashless for a very long time.
Social Security, EBT, submitting tax information or receiving tax refunds?
The U.S. Government has been cashless for a very long time.
Social Security, EBT, submitting tax information or receiving tax refunds?
There's nothing stopping you from immediately taking the full balance out as cash at a bank. You don't need to be a customer of the bank.
And I've seen people getting cash back with EBT cards at stores, and then using that cash to buy things the food stamps wouldn't.
If, for argument's sake, you wanted to withdraw your entire $20k out of youur bank account in one day, you simply get the max cash fom your 'home' branch, and then write checks to yourself, that you cash at different banks (on the same day). You could thus easily get $1-2k per bank.
Or you could:
a. Keep a Balance in your Direct-Deposit account (to prevent fees) the amount you need to pay certain bills (Utilities, Ins.) and take out the rest in cash. If you use a Credit Union, the fees might not exist, so shop around. Think of the monthly fee as a NIRP fee. E.g. I used WaMu before Chase took it over. After a year, they started charging a monthly fee of $15, if the checking balance isn't >$1500 ($300 for Savings), or it's not a Direct Deposit acct.
b. Draw down the Max cash per day. If that's $3k, it won't take long to drain your financial pool,
They are simply limiting the size of the drain to avoid bank runs by too many sheeple, when TSHTF during a Global Financial Reset and Reboot.
Here comes the mark of the beast just as the bible said. Idiots.
$9.50 an hour guillotining folk. All the O/T you want. They’ll march right in. LOL
Giving up cash would be worse than giving up guns. Much worse I believe.
Well then we must defend cash with guns, don't ya think ?
Bury the guns jsut in case.
I don't see it happening here, until they change the Constitution.
NO vendors in the USA can say NO to cash for a transaction, it's currently a federal offense.
These slimy bastards use the SECURITY and CRIMINAL ruse for everything they want to push.
Also, going this route will As ususal always cost US more.
The Middle Leeches charge fees for CC's, so we eat that extra 2-3% priviledge of use fee, so we will definitely eat these.
Just one more way to track, and one more way to EMPTY our accounts.
Use your reasoning skills.
Where are Freedom Zones mention in the Constitution. Recall, Obama implemented those Freedom Zones with out a whisper of push-back. LOL
After the manner of all tyrants, TPTB ignore the US Constitution when and as they wish.
Read that document, and read the Bill of Rights. Then compare that to your real life...
This is incorrect. You need not look any further than a physical FRN itself. On the front, you will see:
The operative word there being debts. If you want to go browsing through the USC and the CFR to put the complete picture together, what you will find is that if I owe you a debt, and I offer to pay that debt with FRNs, and you refuse in lieu of gold or silver, the portion of the debt that I offered to pay with those FRNs will be considered null and void should you take me to court and I prove that I offered to tender payment in legal tender. It is not a criminal matter. It is a civil matter. If you walk into a store and want to purchase a candy bar with a $100 bill, and the store clerk says "We do not accept bills of larger denomination than $20," that store and the clerk are well within their rights to refuse to sell you the candy bar.
Using that logic, just eat the candy bar, then offer them the FRNs for payment. If they still refuse, then walk out the door.
I'll knock your ass out!
Get it?!
Bullish for Bitcoin!!
Good news for the global corporatists. According to Intuit, 55% of the 27 million small businesses in the U.S. do not accept credit cards. A ban on cash would instantly eliminate nearly 15 million competitors.
That would be 27 million small businesses that are already most likely dabbling around to vaying degrees with cash driven underground economy transactions. Take away the cash and they will evolve towards private cash, I.e. bitcoin, and develop skills you never hear about in the corporate Ivy League business schools. You never really get to see how much competition the darkened underground economy provides against the slavers and useful idiots sanctioned economy. When they develop those skills in your new banana republic they will become like us in my old banana republic where it is believed that 60% of our economy is underground. Wake up zh'rs, so many of you are stuck in dead and dying traditional thought, you can't break out of your own heads and perceive a future. Embrace bitcoin and the underground economy, free yourself and starve the beast, the future is coming with or without you.
BitCoin. Problem solved.
Bitcoin - the "currecny" that spends itself (loses value), right before your eyes.
Wow, who would have thought to invent a self spending currency. Now, you don't even need a wife to lose all your money.
A lot of ignorance on this site about the nature of money and free markets. No matter though, the time for cryptocurrency is here.
This is great news for bitcoin. People can use the same devices and bandwidth to transact slave money and freedom money. Underground economies will evolve to handle the seperation of underground free and above ground slave economies, the two will have to find new mechanisms to coexist now that they will no longer share the same monetary objects. People will become accustomed to using digital objects as money so its a small hop to using peer to peer digital objects that are not cost effective to trace (effectively anonymous). Lemonade can be made from this cashless lemon. Satoshi for non president'
The ironic thing about this is, it is organized crime that will be the hero of the people concerning this. Piss em off good government. Go ahead.
Yup, prohibition created Jack Kennedy.
That's first class thinking...the trick then is to be among those to be the new Kennedys.
No.
The trick is to eliminate the conditions that allow vermin such as the Kennedys to accumulate power in the first place.
The ironic thing is you seem to be requesting a different, better criminal element take control of the current criminal element.
It's rather difficult to distinguish the government from organized crime families these days. The Ds and the Rs constantly bitch at each other for doing the same damned things that they themselves do, they will be cutthroat to get their seats of power, but at the end of the day, it's "Fuck you. Pay me." And they'll (both Ds and Rs) send thugs in to rough you up and they'll throw you in a cage if you don't. The government is running a protection racket, plain and simple.
Sweden is lost anyway, so who gives a fuck?
sweden = experiment
next = you
The truth is Europe is lost as well.
The Iron Curtain will be rebuilt of that you can be sure. This time it will stop flows to the East, Orban has started his portion of it already.
Actually going cashless is critical for a better world to come, post-cashless.
OLIGARCHY TROLL ALERT!
What are you going to do? I'm going to do what I do best.....
https://www.youtube.com/watch?v=D1jFIQXg5js
Only as long as you keep forking over your plastic and letting them; stop spending anywhere that doesn't accept cash (and if you think you can't find places that still will under the table, you're lying your ass off).
Better yet, create networks of trade partners and mint your own currency. Do like the villages in Hellas, where they are using the net to create micro economies of barter/labor.
Buy local, the right way. ;)
Bitgold !
Yea, and when the power goes out you can call it Spitgold!
If the power goes out cashless digital slave money wont work either so they wont let the power go out. Just piggyback on their system with free market peer to peer cryptos, what they dont know wont hurt them.
Virtually all cash today originates as ON ACCOUNT bank credit. When you take out a loan at a bank, they simply mark up your checking account with a deposit.
As far as bankster is concerned this deposit in your account is his LIABILITY.
It simply is the way double entry mechanics work. In a debt money world there are two side on the ledger. Your credit asset is banksters liability.
You, the hypothecation victim think that your new credit money is an asset, because you can spend it, but bankster doesn’t see it that way. He has to store your credit AND pay you interest on it.
Some countries, such as England, issue tangible banknotes from Treasury. They are NOT created as ON-Account credits via loans from private banks.
This form of treasury money is acceptable to pay down private debts. If one gets rid of this form of tangible exogenous Treasury money (not bank credit), then what is the consequence?
Debt spreading private banks then have their credit money type as the only one in circulation.
In the U.S., coins are issued as seigniorage from Treasury. Coins then represent exogenous money; the term exogenous means outside of the private banking system. Endogenous means from within the banking system.
Getting rid of cash (coins in the U.S) means getting rid of exogenous money; the $1T platinum coin idea is to create exogenous money, which then is without debt, and this money goes on to pay down debt instruments. Said debt instruments were created by banksters at moment of hypothecation to make endogenous credit.
OK. So getting rid of exogenous treasury money is a way to continue debt spreading private banking scam. Exogenous money has the opportunity to pay off debts.
Debts are how banksters make their living; their business model is to spread debts to then make money from creating money. To re-word statement to be more correct, they create private credit to then earn usury. Banks are an endogenous credit factory, where all but a small fraction of money supply is created.
Very good but all of these forms of 'currency' are still a belief system... until they are not; see Venezuela, etc
You are one of the very few readers on this site that understand that only widespread belief bestows the property of money onto an object. There is no way to know with certainty which object will fall into and out of favor with a critical mass of people and become or stop being money. Its always up to the speculators personal judgement to try and guess that. If the slavers are on the road to making cash illegal then it is logical to state they are on a little longer road to make PM's illegal because a PM is potential cash and everyone is being conditioned away from cash for obvious reasons. Only cryptocurrencies can circumvent the slave economy problem, that is why they will ultimately succeed.
Let see,,, Using an encrypted electronic currency to circumvent another encrypted electronic currency.
It never ceases to amaze me how many think the encryption they're using will somehow protect them.
"You are one of the very few readers on this site that understand that only widespread belief bestows the property of money onto an object. There is no way to know with certainty which object will fall into and out of favor with a critical mass of people and become or stop being money.You are one of the very few readers on this site that understand that only widespread belief bestows the property of money onto an object. There is no way to know with certainty which object will fall into and out of favor with a critical mass of people and become or stop being money."
Er uh...I'd say an awful lot of ZHers understand this. That's why so many here don't trust Bitcoin.
Maybe someday...but the trust isn't there yet, not by a longshot.
bitAss...come and kiss it, government fucktards...
better start setting up that X.25 radio network, slick.
Enterprise rent-a-car is cashless, U.S. North-east in my area anyway. I wonder how many businesses are already cashless in US?
I haven't used cash for a car rental in thirty years.
I was surprised I couldnt use cash? No worrys, I found someone else that will take my cash.
Before we talk about going cashless, the 500 Euro note surpassed the Benjamin a few years ago as the go-to currency of drug cartels.
If you remove the Dollar or the Euro from the street, where will the billions in drugs (for arms) go?
Bitgold/Bitcoin is a JOKE fools!
When the power grid goes down try using your bit coins!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
not a problem.
i can charge my cell phone and laptop from my car or my solar panel.
i also keep gold silver and cash as backups.
why do you keep on whining about something you have no clue about?
Will you charge the miner supercomputers with solar panels as well? The goverments can track even marijuana growers by their power usage. I don't trust bitcoin.
That's if they're careless enough to do something so obvious. More and more, they're not. To wit:
http://article.wn.com/view/2015/11/07/Sydney_cannabis_growers_caught_ste...
Those generators backing up the cell network wont last long.
What would Putin do?
Same thing he's doing now,,, kicking Obama's ass.
That's going to make tough for the banks sell their imported heroin
Another disadvantage of cash is that if you carry very much of it you may get it a stolen by the government due to forfeiture. More and more government entities are impounding any chunks of cash they run across, daring you to try and get it back, and then keeping it. Estimated cash lost by people in this manner: $4-5 billion.
http://www.newyorker.com/magazine/2013/08/12/taken
Money is the ulitmate "public good". The rewards for privatising it completely will be enormous.
We need a new take on the American free banking system of the 1830s-1850s.
Barter town coming up on the right.
If the Swedes do it, it's probably a Really Bad Idea.
Africans are doing it out of necessity. Perhaps they will find a way to make the bloated tick that his the banking-gubbamint monster into a less destructive parasite.
We can hope.
Im guessin hitmen will still take gold.
Silly me. I thought those FRNs in my pockets said, "This note is legal tender for all debts public and private." What part of "all" did I miss?
Citizen, the State has redefined the meaning of 'all.' Please remember to consult your NewSpeak Dictionary regularly for such updates.
You will now report to the nearest police station to turn yourself in for ThoughtCrimes.
CASHLESS only for law abiding citizen, CIA and terrorists are exempt.
Kinda like guns?
War on cash is right at the prescription counter as well. Insurers and pharmacy benefit managers do not want you to pay cash as they can't track you if you fill your prescription or not. You may or may not be aware but pharmacy benefit managers can bill insurers as soon as the pills go in the bottle, not when you pick it up. Thus when you use mail order prescriptions, they want to load you up with future refills as well. Certainly this saves shipping costs but that is nothing compared to the money they make billing to get the drug money as fast as they can.
So if they can't find enough credit card data to "score" you with, you are now an Outlier. I had a conversation with a pharmacist about this and the job there was to contact people on their "scored" list to see why people were not filling their prescriptions. This is protocol all over anymore but what the pharmacist found is that people were filling their prescriptions as a whole and paying "cash" and their system was not able to track it, so good folks get scored as being non compliant as they chose to pay cash, as it was probably cheaper out of network than what the drug plan gave as a benefit.
http://ducknetweb.blogspot.com/2015/07/patients-who-pay-cash-when-filling.html
There's a busy firm out there called Argus who collects, scores and resells all kinds of credit card data and you might be shocked to learn that the Consumer Financial Protection Bureau is one of their clients as well, buying up credit card data and "scores" on all of us. Again, if you pay cash, they can't track you totally.
http://ducknetweb.blogspot.com/2014/08/argus-analytics-produces-share-of.html
I took screenshots and information right off the Express Scripts page on how proud they are with "medication prediction adherence scores" and what they do. It's discrimination with algorithms like you can't believe and nobody is questioning this proprietary "scoring" algorithmic process and they treat it like gold in scoring all of us, so be aware. They don't want you to use cash at all. All of this action of course is a great distraction that drug companies love as they come back to blame patients and it allows them some justification to keep the prices of drugs high and we all lose there.
http://ducknetweb.blogspot.com/2015/06/medication-adherence-predictions-enter.html
You likely don't need the pills. It is a part of the Kool-Aid.
Lack of unbreakable Cyber Security is what will kill any attempt at a cashless society.
A Florida based credit union has notified customers that they wil no longer be accepting cheques, drafts, and money orders from foreign banks effective Dec 1st - not sure what motivtes that decision or if that policy change is more widespread.
Fraud and it's a PITA for the bank to deal with foreign banks.
We may not be sure of their motivation but that would give me all the motivation I needed to pick up my account in cash and leave a "Fuck You Very Much" card at counter.
This shitshow will stop when we stop taking shit from the showmen. Do that and their entire fucking world falls apart. Nice.
And billions of hackers will be finding ways to conduct digital theft.
The agenda is clear!
http://beforeitsnews.com/conspiracy-theories/2015/11/666-is-upon-us-the-...
100 proof booze will be ok as a form of payment in the real world.
Diesel fuel.
Not a joke. In many poorer parts of Africa, gasoline and diesel is sold by thousands of venders along the sides of the road, in one gallon (or similar) glass jars. Gas and diesel is used as a form of currency.
Some of the founders thought a coin backed by booze would have been best.
Is Tide detergent still the ghetto scrip?
Imagine cashless in Syria, Iraq and Ukraine, when any moment the power can go out as some country fighting for your freedom is killing you with missiles and bombs and knocking out infastructure and communications in the process.
Cashless in times of war means death to millions.
I never believed in Satan, but it sure looks like the Liar in the Sky did a Hell of a good job with his cronies on this planet.
But it will end up OK as long as we all send in our credit card numbers to purchase over paid medical facilties for transgender operations, so my wife can be a he and me a she. :) Then the kids will really be screwed up as they won't know who to call mom and who to call dad or will they just call us 'it'?
Barter is how fiat dies.
Although I do not acknowledge them, the banks are most certainly governing.
It will work swell until little Kim hides an EMP on a frieghter and turns off the ATM's and server farms. People will always come up with ways to go around the system.
Radiation will kill every one of us so why worry about EMP's??
Actually it is TIME that has killed everyone, but we are eternal beings given that by the source of life. So even when the physical dies, that voice in your head, the inner "being" continues onward in either the southern direction or the northern direction.
They have to kill all small businesses too.
Everyone will be forced to work for some corporation or other, who will buy up all small fry.
Remember phone-cards, that was a currency for a while. There will be all sorts of cash alternatives, whether it is rings on gold and silver bracelets, or soap-powder, or salt, or cocaine, or paper share certificates.
But they have already hypnotised the young, they seem quite happy to carry a plastic card and an I-phone, and do as they are told. And grass on you for being a maverick.
Take your money out the bank in a simple way ;
Buy Gold ans Silver and buy Bitcoins ...
It's simple and they can not stop that from happening.
Also NEVER trade in money , only accept Cash notes or Gold/Silver or Bitcoins.
Bitcoins require internet and could be shut off at an instant.
Gold and Silver will work a little but government and the f*ckin bank will outlaw its exchange with huge fines and incarceration.
it just needs a EMP and yor credit card or phone will no longer work. what then?
There was a reason our great grandfathers and grandmothers kept their money under the mattress. "THEY DIDN'T TRUST THE FUCKING BANKS!" They were vilified as an old fashioned and stupid, but they lived through times when the banks went bust and stole your money. This story of people losing their money in the 20's and 30's has been omitted from the MSM, so this generation is oblivious to the shenanigans and skulduggery of the banks. So total is the brainwashing, the plebs having witnessed the financial haircuts taken by the people of Cyprus, believe it will not happen to them ie; the citizens of the U.S, UK, France, German, Spain et al. There is no doubt the political class will push for a cashless society, arguing organised crime and terrorists will be stopped, or find it harder to commit crimes if cash is banned and the FUCKING AVERAGE CITIZEN will OK it, just like the retards who sanctioned "The Patriots Act". "Banning cash will stop ISIS!" I can see the headline right now. </roll eyes> Conversely this is a good thing, as gold and silver will become the underground money,
The movie Grapes of Wrath (Henry Fonda) pretty well covers the depression and how people badly treated each other,,, not just the banks. The movie was banned for awhile.
If you can't stomach the reality then do not view this movie. A documentary would be a better description.
It's slow moving and has no computer graphics to wake one up like the new Bond crap but does a fair job at describing one family's attempt to survive the depression caused by the central bank.
The book's not bad either.
What are you kids talking about?
Hitler (think Zionist Fed) came for the guns first, then every other right was easy to destroy.
Before coming to ZH, I would have said that the key to preventing the abolition of cash is the AARP and others who purport to represent the rapidly growing elderly population, which depends on reasonable interest rates. An AARP educational campaign about the inevitability of NIRP once cash is abolished would quickly organize and deploy a cohort known for high voter turnout.
However, it has become clear that voting in national elections means nothing. Even if that wasn’t the case the AARP’s shameful betrayal of its members for profit (e.g. its backroom deals regarding the so-called Affordable Care Act) indicates that it will advocate for the abolition of cash if only for the opportunity to profit--think AARP co-branded payment cards—at the expense of its members.
Put AARP right behind SPLC for promoting every left wing anti Constitutional initiative that the enemy can come up with.
I used to cuss their phone sales girls terribly until they gave up calling.
Long on Beaner Babies.
Go right ahead… Ban physical fiat. Since it loses value every day, it is probably a good idea to encourage people to trade physical items with real intrinsic value.
I foresee a huge underground bartering economy. In a world without a cash currency, everything becomes currency, a loaf of bread, a dozen eggs, a truck, everything.
I forsee politician criminals hanging from lamposts.
Grimaldus
In order to ban cash you first must have progressive tyranny.
It damn sure is not a constitutional conservative thing now is it?
The progressive stupid, it burns and kills and steals.
Grimaldus
dummies don't realize something will replace fiat as a convenient medium of exchange. the internet and social media and the dark web ensure it will happen.
so true,
Check out MYEC its a penny stock working in Africa
What's the big deal? The real economy ran out of cash in 2008 and it hasn't been back since.
Dont forget that anti-christ comes bearing peace, the end of poverty etc., and he causes you to RECEIVE his mark. You all know DAMN well we are living in the end times. God has created a plan of redemption for the sons of men whom he loves dearly.
The Bible says we can enjoy an entirely new level of virtue and fellowship with God, if we repent and reject the ways of the world, and ackkowledge that all of creation revolves around this fact: that we are fallen creatures, part animal, part divine and are accountable morally to God. Mans systems of SELF -rule are coming to an end. God had empathy for His creation and came to earth and endured the lusts of life that we all suffer, offering Himself as an eternal sacrifice for our rebellion.
Come join the Saints who will rule under Christ in His millenial reign, helping to restore earth from the satanists who are trying to annihilate us all.
You Gotta Believe!
Christians are already being persecuted for their beliefs.
Namely God, Sound Money, The Right to arm themselves and protect their families and the innocent.
Muslims all over the world are being harbored and protected by govts even though they run around stabbing, murdering, raping, beheading christians.
When was the last time a govt stepped in and saved a christian village in the middle east?
Never
If you are christian you are already marked by the global govts for termination, they know you wont go allong with "the chip" and NWO because its ingrained in the Christian Religion to resist these evils to the death.
On one hand govt will hold the clever to the neck of christians while blaming the christians for what they are about to do to them, this is the hypocrisy we live by nowadays.
The best thing christians can do right now is buy property and dig caves/tunnels to form the modern day equivelent of the underground railroad to get christians away from the Fema camps in the future lol...
I mean it sounds rediculous, but govts always do this, its in their nature to persecute , impoversh and imprison.
Explain that to the Hagee "Christians" that love more than anything the tribe with one of it's main aims that of destroying Christianity.
http://www.fishthe.net/steps/steps1.htm
All the pennies are like made of pewter/zinc lol
All the other coins are shit base metals (Nickle Copper etc.)
The paper money is just paper physically a 1$ bill is worth the same as a 10,000$ Fed Note.
Bitcoin, Gold, Silver are the only things approaching real money/ non-fraudulent credits
Its not real money if 1 - 100 people control the entire supply/creation side you cant have a monopoly on money creation and expect people to take the currency you issue seriously forever.
The days of Federal Reserve JP Morgan Goldman Theft are numbered / coming to an end.
If gold doesn't end it, Bitcoin will.
The old banking order is on its death-bed and in a world where they too have to actually compete for finite resources (money) they will endup in the same bread line as the rest of us.
Gold has no counterparty risk. Bitcoin claims the same thing, but it doesn't quite seem so, does it? There is more to faith in money than simply establishing trust.
More to Faith than Trust?
All Faith is, is Trust.
As soon as I saw Citibank was involved I knew this was a fail.
They go cashless and then some retard of a backhoe operator cuts some cables and all of a sudden nobody can buy anything until the connection is restored.
How many blackouts does the US have each year?? Yes they are regional, but imagine Florida got hit by a hurricane. Not even a huge one, but big enough to take down the power-lines. Suddenly people have no way to buy anything. ]
I am not surprised this crap is happening in Sweden. They have lost their minds.
The writer correctly identifies several of the most devastating effects of a cashless system. The one huge problem he did not discuss is the ease and simplicity with which accounts and "money" can simply be wiped away, at the whim of local, state and federal agencies. It looks like we are facing a series of events:
Without doubt, this will be a series of steps, each sold to us as necessary, painless and for the good of all. Only the Republicans/Right Wing will be able to pull it off, as they have the balls and mean-spirited ways needed for such fascist treachery. The Democrats will try to get in on the action and debauchery, but they are too weak and directionless to really pull it off.
Nobody is going to pull any heist off. These dimwits will destroy their beloved system.
This is just "governments" letting you know that you are their property, and always have been.
There is a U.S. Constitution that says you're wrong, if you are strong enough to start calling it out to others.
It's a beautiful thing to see. The human race going full circle. The Neanderthals didn't have cash either.
Best comment so far :)
Good God, hackers from Russia will rule the financial world.
When they force me, I will buy even more gold for remaining cash I kept. So no problem.
LoL! Fuck heads are always coming up with something to cover their a$$e$.
After cash it will be "Minimum Purchases" After "Minimum Purchases" it'll be "Maximun Purchases."
Truth is, nobody has a clue what to do with 7 billion sheep.
7.3 billion to be more exact... the big picture is that there is no solution to the currency-cash-money-credit problems except to increase the price of gold, which is exactly what happened in the 1930s. The devaluation of all this recently freely printed paper money, obviously, only leads to more value for that which is not paper but which is traditionally considered to be money: gold, the barbarous relic. History is said to not only repeat but rhyme and now it's time to repeat and rhyme: hold gold.
Read about the coming demise of Capitalism; about the replacement of the "ownership" society by the "collaborative" society.
http://www.thezeromarginalcostsociety.com/
In The Zero Marginal Cost Society, Jeremy Rifkin describes how the emerging Internet of Things is speeding us to an era of nearly free goods and services, precipitating the meteoric rise of a global Collaborative Commons and the eclipse of capitalism.
Forbes says The Zero Marginal Cost Society is “[an] illuminating new book…Rifkin is very good on the historical origins of the giant, vertically integrated organizations that dominated the 20 Century economy. [He] makes a powerful case that from a longer-term perspective, it is these giant hierarchies that are the anomalies of economic history. The shredding of vertical value chains, the creation of vast new horizontal value chains, and the social change of people preferring access to ownership…bring massive economic and social changes to business and society, the implications of which [are] only beginning to be glimpsed. For Rifkin, the shifts are positive and huge.”
C'mon Tylers wake up and stop barking down the wrong tree about Von Mises and libertarian values.
The world is going another route in this coming age.
Reaganomics, NWO and this game of fiat pumping of toxic assets to save the old order of Pax Americana status quo has now hit its natural asymptote at the same time as the world hits a tipping point in terms of Fossil fuels and degradation of planet.
Its all there before our eyes to see and this is the paradigm change that is truly relevant on ALL accounts.
Decentralised cashless societies will be a part of it.
Cool, its nice when the ZH "staff" goes out into new territory. Buying and polluting new domains to push their message out.
KILL the fucking cash Bitchez!
oxymoron.
Nope, decentralised and cashless in terms of CB/Private TBTF & Jail bankster controlled currencies; the bane of current society.
We move away from the verticalized monopoly of the Oligarchy corporates on their triple "military cum money cum energy" behemoth plays. That is Pax Americana today.
But not cashless in terms of local currencies (block chained) part of the collaborative commons scheme of things.
Like energy, cash will go local to build horizontal value chains based on Internet of objects scheme of things.
The transition to marginal low cost renewables on a national grid compatible basis; aka to replace fossil and nuclear --both of which have RISING marginal cost profiles in coming years--will take 50 years and in the meantime in urban/rural mix of socities of "gas guzzlers" some communities will have to go "local grid" to enhance the local ecosystem value chain in order to survive outside the "beggar and bugger the unwashed" scheme of things that Oligarchy wants to put in place with TPP etc.
If people ride more solar powered bicycles I guaranty you the obesity problem of junk foods made by the vertical food corporates and Wal mart type buying/retail centers that run our society will also diminish.
The day they make propietary rights on information and knowledge a PUBLIC Domain the collaborative commons can really grow. Information/knowledge sharing is the lever for more open society platforms of innovation.
Sorry day traders your world is now coming to an end based on CB strangulation of status quo markets followed by paradigm change of huge magnitude.
I don't know what Florida has got to do with it...
Does the second part of your pitch involve a time-share in Florida?
How will Congresspeople pay for hookers if there is no cash?
Favor collecting?
Much ado about nothing.
Even insiders are saying a "cashless"
society means "cashless" as in not
credit worthy type of cashless.
Think about it... if I'm not using
that gov't script with numbers on it,
I merely revert to PMs. And really, if
I am forced into a digital environment,
BitCoin is it.
And contrary to the hand ringing
here, keep in mind, gov'ts ability to acquire
real wealth and spend it is diminishing with
each day ZIRP continues. Its how the Russkies
were able to show up the US in Syria. Remember,
the coin of the realm is STILL the goldean Aureas of Ceasar.
Now where is that legion thats going to enforce that one???
Or that "force" of any kind that is gonna "confiscate"
PMs??? When that day comes, you will merely shoot
them on sight as thieves... plain and simple.
ILLUMINATING....
https://www.youtube.com/watch?v=pxHl3gr-WMM
peace out
Funny thing is this band are just actors and the sheep think they are real.
This really helps collecting on tax delinquents.
Fuck this shit is pissing me off.
I've talked to some fucking Danes. They love their socialism. They think its fucking perfect. They recognize problems but figure everything will just work itself out. Which is exactly how all these bumbling socialists in Canada think it will go. And you try to reason with them just on basic fundamental things like incentives, ownership, debt, etc., and they get all pissy, like something fired in their fucking shrunken mellon. They are bereft of any fucking gray matter.
And yet I feel its gotten to the point where you start to think, "hey fuck maybe its me - am I the crazy fucker?"
Got into it with an old timer this weekend - he was schooling a couple of university students on how terrible a job this right minded politician we once had - yeah that's right, eliminated our debt and instituted a flat tax - beutiful thing afterall, you can't ask for much more from a politician. At any rate, this goof fuck was dissing this great achiever (now passed), to the extent that it was fucking embarrassing. I finally interjected, "holy fuck old man - who filled your mind with such hatred?" And to make sure I didn't get thrown out of the restaurant - "you come from a generation that had nothing - that worked their asses off for what they have - you were presumably taught the same thing - how the fuck can you say the shit you are saying? You ought to be ashamed of yourself, for encouraging these young people that it is far better to wait for the free lunch than it is to earn it themselves."
It seems that everybody fuck EVERYBODY is saying fuck it. Where's my fucking handout?
When the pendulum swings - fuck - we underestimate the momentum it has garnered along the way.
And it seems like socialism - is just getting warmed up.
Somebody said here, we live in interesting times. Fuck that. We live in a fucked up terrible time, because there is nothing interesting about losing your freedom and especially your economic freedom - to a group of people that think you owe it to them - somehow.
I think we got 5 years. Then we're done. We will officially be property of the state.
Fucking Danes.
I feel the same way about a lot of people (Americans included) - socialistic philosophies liberal colleges have built their foundations upon - just remember, everybody is generally polite, will make minor sacrifices for the 'greater good' and conduct themselves in a usually reasonable manner until their bellies are empty, and have been for days. Then all that surface level hippy dippy trippy shit falls away real fast and they turn into feral anaimals, which most of us are at our cores. What most don't / won't / can't admit is, there are a limited number of plates at the table folks - and all this nicey nicey obamalove bullshit will drop like a rock and make Black Thursday fistfights over half price DVD players look like a picnic.
In a Cashless NIRP enviroment wouldn't people want to store their wealth in PM's and convert them to digital currency as needed!
So in a Cashless NIRP enviroment wouldn't this create a big demand for PM's!
Wouldn't this be the opposite of what the .gov is trying to accomplish.
Whatever the .gov tries to do with force they get the opposite result.
I truly see this failing. The people will be running around with real money in their pockets instead of fiat trading it at will within the black market. the .gov will be very jealous.
So they will have to make it illegal to hold PM's. and if that will work either... Drug dealing is illegal, do you think they will care if they are selling drugs for illegal money. I don't think so.