The International War On Cash
Submitted by Jeff Thomas via InterntionalMan.com,
Back in 2008, I began warning of increasing capital controls that we would see in the future, as a component in the decline of Western economies (Western in the broad sense, including Japan, Australia, etc.)
Along the way, it occurred to me that, at some point, governments might collectively attempt to eliminate paper currency in favour of an electronic currency - transferred from party to party solely through licensed banks. Sound farfetched? Well, maybe, but what if the U.S. and EU agreed on an overall plan, then suggested it to other governments? On the face of it, this smacks of conspiracy theory, yet certainly, all governments would benefit from this control and would be likely to get on board. In fact, it might prove to be the only way out of their present economic problems.
So, how would it play out? Here’s roughly how I saw Phase I:
- Link the free movement of cash to terrorism (Create a consciousness that any movement of large sums suggests criminal activity.);
- Establish upper limits on the amount of money that can be moved without reporting to some government investigatory agency;
- Periodically lower those limits;
- Accustom people to making all purchases, however small or large, through a bank card;
- Create a consciousness that the mere possession of cash is suspect, since it’s no longer “necessary”.
When I first wrote on the subject, there was considerable criticism as to the possibility that such a programme would ever be attempted, let alone succeed. And, granted, it was so Orwellian that it was understandably seen as a crackpot idea. But since that time, the programme has been developing extremely rapidly. In the last six months alone, it has become so visible that it has even garnered a name - “the War on Cash”.
References in the media have been made that terrorist groups fund their attacks with cash. Dozens of countries have placed limits on the maximum amount of money that can be moved without reporting. Some, notably France, have already begun lowering their limits. Banks in some countries, notably Sweden, are already treating all cash transactions as suspicious. The previously theoretical Phase I is now well under way.
This issue has expanded more quickly than I’d anticipated. Clearly, the governments that are forcing it into being are running out of time. There can only be one reason why they’d rush a programme that normally would be given more time for people to accept, and that’s that they see a crash coming before they can get Phase II of the programme underway.
Although most anyone who’s paying attention recognises that Phase I is in motion, Phase II (as I perceive it) is not yet on the radar, but I believe it will be soon. Phase II will be the second wave of measures and they will be more draconian than Phase I:
- Create a definitive false flag event that demonstrates how physical cash is the primary means of funding evil acts in the world;
- Declare a date on which paper currency will become illegal (Until that date, it can be deposited into a bank. After that date, it becomes criminal to possess it.);
- Once all cash has been deposited in banks, increase negative interest rates;
- Confiscation of deposits can then be implemented, as desired, by banks (Confiscation of deposits is already legal in Canada, the U.S., and the EU.);
- Confiscate contents of selected safe deposit boxes;
- End “voluntary” taxation. All taxation will, in future, be by direct debit;
- Declare money to be the property of the State that issued it. (The people are allowed to trade in it, but it is not truly theirs. The State therefore can freeze or confiscate the funds in any account, if any crime is “suspected”.).
In recent months, I’ve warned repeatedly that, since confiscations of deposits will take place, we must assume that banks will additionally raid safe deposit boxes, as stated in the above list. Some banks, beginning with JPMorgan Chase, have placed limits on what forms of wealth can be placed in safe deposit boxes. Since then, Greece has taken this one step further. In future, Greek citizens will be required to declare cash exceeding €15,000, jewellery and precious stones valued at over €30,000 and declare the location of the safe deposit box in which they’re stored.
The declaration is fraught with difficulties for the depositor, as he bears the obligation to accurately appraise each item. Should authorities disagree with the appraisal of, say, Grandma’s diamond brooch, the depositor would be suspect and may face confiscation.
State Wealth Control
Once Phase II is completed, state wealth control will exist. And, again, this prediction will seem at first glance to be Orwellian - a mere fiction. But then, less than a year ago, the War on Cash was regarded by only a few as being even within the realm of possibility, let alone right around the corner. And so it is with Phase II. Now that Phase I is in motion, it’s accepted as an unsettling reality, but Phase II is the obvious sequel.
If you have cash in a bank, you think of it as your own. This is not the case. It’s wealth that you’ve loaned to the bank. In the future, the bank (with governmental approval) will have the power to decide if and when they will return all, or a part, of that cash to you. They will set the rules as to how that decision will be arrived at and those rules will be changed periodically. Since those rules will be arrived at by the banks (without need for your consent), the outcome will most certainly not be in your favour.
Those who read this statement might react in one of three ways:
- “This can’t be happening.”
- “Okay, it’s happening, but there’s nothing I can do about it. It’s global.”
- “There must be something I can do to keep from being robbed.”
The first group will be the largest. They will freeze up, do little or nothing, and become victims.
The second group may complain and even struggle a bit against these developments, but won’t prepare sufficiently and, ultimately, will also become victims.
The third group will seek alternatives, and here’s where the light appears at the end of the tunnel. Yes, this effort will be international, but it won’t be fully global. There will be those jurisdictions that, traditionally, have not been willing to fall into line with the world’s foremost powers. They will not wish to go off the same cliff as the others and will take a different tack. They will be the recipients of those people who seek to escape the collapsing system. But, more than ever before, time is limited; the window is clearly closing.
Escape from Confiscation
The solution is surprisingly simple, although it will take work and dedication:
- If you’re a resident of any jurisdiction that’s presently going down this road, move your money to a jurisdiction that has a consistent history for stable government, low (or no) direct taxation, and minimal interference or regulation over wealth;
- Convert your wealth into those forms of assets that are hardest for rapacious governments to confiscate (foreign-held precious metals and real estate);
- Create an exit plan for your own physical escape, should it become necessary.
Editor’s Note: The War on Cash and negative interest rates are radical and insane measures. They are a sign of desperation.
They are also huge threats to your financial security. Central planners are playing with fire and inviting a currency catastrophe.
Most people have no idea what really happens when a currency collapses, let alone how to prepare…
How will you protect your savings in the event of a currency crisis? This just-released video will show you exactly how. Click here to watch it now.
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No cash? But how will I bribe my local cop or prosecutor or the judge, not to mention how do I buy my drugs from the guy down at the corner? Damn - I almost forgot about the bribes I have to pay to my state senator and then there's my congressman. Fuck this shit!
I pay my dealer with PayPal. Maybe I should ask if he'd be willing to start accepting silver rounds instead
Actually, buying drugs would be an issue. Not only for us, but for the government. Big Brother (and its TPTB subsidiaries) clearly is getting a sizable piece of the action in the drug trade. If they make cash illegal they are likely going to have to make drugs legal to avoid cutting off a major income artery.
No more losing pallets of cash in a war zone.
USA-issued folding money will be allowed to circulate freely... outside the USA.
Within the borders, a different song and dance.
They want to take the fiat games to the next level. We could all just walk away. Barter Town should be a hoot for those that actually produce. The free shit army wont like it one little bit. But why should anyone care what them useless tools think?
I've been converting the dollars in my bank account to phys, Bitcoin, as well as cash, and keeping it in a non-bank vault, to prepare for when the inevitable bank raids begin. Of course if what this article suggests is true none of that will help me.
BitCoin is convertible to another currency; therefore is a non-thing except to what it is attached to. Those who currently accept Bitcoin do so in order to convert it with few exceptions. Here is a very smart Mexican billionaire you might want to think consider his views on the subject of BitCoin.
plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=274
To each his own; not for me as I have seen it as mere speculative by nature and already controls have been put onto it and its origin is a myth.
Interesting, and I respect his perspective. But just because that is the case today doesn't mean it will always be the case. In the event of a fiat collapse, people will still require a medium of exchange and Bitcoin fits that need very well. It has all the compoents of real money, namely it has scarcity, and works as a store of value & unit of account. Bitcoin has the advantage of already being widely accepted as a form of payment by merchants, something you can't say about PMs, and in a currency crisis its acceptance would only increase.
The point the article makes about Bitcoins could just as easily be applied to PMs today. If a person wants to sell their house for gold, the seller would consider the value of the gold in dollars, not the metal's intrinsic value.
Bitcoin has, I believe, many advantages over other assets like PMs in that it's much easier to transfer, can't be counterfeited, can be sent and received discreetly, easy to hide, and when properly secured and backed up can't be stolen. Further, suppose a new fiat regieme is imposed once the dollar collapses. It seems likely to me that people would be willing to exchange the new fiat for bitcoins just as they do with dollars today. And it will be easier to do because it can be done electronically, and can't be confiscated by government agents the way PMs can.
I'm not putting all my eggs in one basket, but I feel that having at least some wealth stored as bitcoin may prove to be good insurance against the coming collapse. Of course there are also risks, such as attacks on the blockchain by governments and banks, but I still feel keeping my wealth in bitcoins is less risky than in frns.
AGT - you must add one more point: Bitcoin can become worthless overnight (it lost 10% last night).
You should also query some of your assertions.
Can't be counterfeited? Tell me how the original ones are produced. AN ALGORITHM THAT SOMEBODY WROTE.
Discrete - I think there is a visible auditable trail. Suppose you had to produce that in court?
Easy to hide? In plain site maybe.
Can't be stolen. You'd better think again. Someone with a gun to your kid's head will get your bitcoins.
However, I have already suggested in print that we should be aware of Bitcoin, have an account with a small amount of bitcoins.
Firstly to understand how it works and secondly for use in a dire emergency.
Over a few minutes, Bitcoin is probably very secure if you take care and understand what you are doing. A few minutes could save all your wealth and the short time span limits the risk of a collapse in its value.
PH
If government controls the internet, how do you think you can access your bitcoins at will? In that respect, how is access to bitcoins any different from banking?
Bitcoin has been around for 7 years now and hasn't been hacked. I'm sure it's not from lack of trying.
There is an audit trail but there's many ways to cover your tracks, including using VPN connections and services that forward your payments through multiple transactions. If you take proper precautions, there's no way to trace a Bitcoin transaction back to you.
If you store Bitcoins on an encrypted hard drive, and encrypt the Bitcoin wallet file itself, how will anyone ever know you have them in the first place? Bitcoin is far easier to conceal than PMs.
And likewise, if people don't know you have the Bitcoins, they won't know to steal them from you. Further, even if your computer is stolen, so long as the hard drive and wallet file are encrypted, and the encryped wallet is backed up to the cloud, you will always be able to recover your BTC. Can't say the same with PMs. Sure enough, the five dollar wrench method could be used to steal them by force, but that could be said of any asset and the thief/government agent would have to know you have the Bitcoins first.
Seems to me Bitcoins are far more secure than any physical asset. The risk is, as you point out, the value could very well drop to zero should say Bitcoin be hacked, the network comes under attack, or the Internet is taken from us.
Bit coin... the latest form of electronic cash. No different than a cash card or a credit card.
ROTFLMBO!!!
I use my debit cards a lot. I have two, one for the household and one for the business. They're very convenient to use, they're accepted everywhere, and they're a big help in keeping all the expenditures documented for the budget books. I figure the merchant fees are already priced into the goods & services, so I might as well take advantage of the benefits. I also use electronic funds transfers to pay almost all the bills. I buy stuff online via Paypal. I seldom write checks anymore.
That said, I'm fully aware that all electronic purchases are recorded and tracked by both the government & private industry giant data collection monsters AND Mrs. Tippy (she does the household and the business books). So some things require cash purchase: booze, smokes (forbidden items!), Preparation H, gifts for Mrs. Tippy, things that go bang, cheeseburger & fries (forbidden!!!), etc. are nobody's business but mine. I also buy items off Craig's List and at yard & estate sales that are cash only.
The old saying "money talks, bullshit walks" is from a bygone era. Today its "money keeps its mouth shut and electronic transactions blab like the neighborhood gossip".
Amen. Great article. It is incrementally happening right before our eyes.
Bitgold would be an option, except I just opened an account, and American citizens can indeed open an account, but they can't use the send and receive function. Citizens of other countries can, but not Americans.
"The War on Cash and negative interest rates are radical and insane measures. They are a sign of desperation. They are also huge threats to your financial security. Central planners are playing with fire and inviting a currency catastrophe."
Its quite simple Droogies, cash controls must be implemented before the credit implosion.
Check this guy's radical comment on Yomamma's State of the Union.
Default on all debt.
https://www.linkedin.com/pulse/global-credit-risk-john-m-cunningham?publ...
Yep - and most people will see no reason not to & agree with the propaganda. Given the money laundering is such non-sense since all that narco money comes from Afghanistan via Turkey via large banks; that could be the only reason not to.
The ultimate control over people and people still believe that foolish ancient text referred to as GOD's word is so foolish even though it speaks only TRUTH and that continually.
If you haven't noticed, or not able to see clearly, man is devolving and not evolving; look at the rate of diseases as the genetic programming is breaking down; all part of the curse of sin as it is written, "For we know that the whole creation (includes all of us) has been groaning together with labor pains until now." "For the creation eagerly waits with anticipation for God's children (saints)to be revealed."
I guess you can pick who controls you, and forms/props up your mind-set......
Government/Religion are pretty much analagous, in that both seek to mold your behavior/mindset to be quite malleable.
I've been thinking of printing up bumper stickers that say: "Learn to Think for Yourself, Hundreds do it daily!", but I'm pretty sure my car would get keyed...........
How will the CIA function without cash in those third world hell~holes?
Debt is a function of productivity, and no amount capital control via free movement of paper currency is going to solve that problem.
There will always be black markets, bartering, service trading, deferred payment structures, and non electronic trade methods.
Governments know this, and they also know what their hidden obligations are.
Mankind will never be denied terms of trade by paper, metal, or other physical[tangible] mediums.
The people that publish these articles, just give the megalomaniacal sociopaths more fodder to work with.
Silver, ammo, women, big guns and other play toys.
Local bank put in a coin counting machine a few years ago - eats your coins and gives you an itemized list with a total. Bank now wants your name and phone number on the list.
Here are some signs of a coming recession.
1. Investors in high-yield bonds are expecting to see their first negative return since the start of the credit crisis in 2008.
http://www.marketwatch.com/story/deteriorating-junk-bonds-flash-warning-signs-for-stocks-2015-12-07?dist=afterbell
2. Factory orders continue to drop
http://www.zerohedge.com/news/2015-10-02/us-factory-orders-flash-recession-warning-drop-yoy-10th-month-row
3. Default risk spikes
http://www.zerohedge.com/news/2015-10-02/us-financials-default-risk-spikes-2-year-high
4. M&A set record
http://michaelekelley.com/2015/05/29/mergers-and-acquisitions-set-record/
5. Iron ore prices tumble
http://www.marketwatch.com/story/iron-ore-prices-keep-crashing-adding-to-global-growth-fears-2015-11-30
6. Baltic dry shipping index tumbles
http://www.marketwatch.com/story/shipping-index-falls-to-all-time-low-stoking-fears-about-global-growth-2015-11-19
Here is how to prepare.
http://michaelekelley.com/2014/10/16/8-things-to-do-when-recession-happens/
Here is how to get your mind off this stuff.
http://michaelekelley.com/category/humor/
Good luck!
Here are some signs of a coming recession.
1. Investors in high-yield bonds are expecting to see their first negative return since the start of the credit crisis in 2008.
http://www.marketwatch.com/story/deteriorating-junk-bonds-flash-warning-signs-for-stocks-2015-12-07?dist=afterbell
2. Factory orders continue to drop
http://www.zerohedge.com/news/2015-10-02/us-factory-orders-flash-recession-warning-drop-yoy-10th-month-row
3. Default risk spikes
http://www.zerohedge.com/news/2015-10-02/us-financials-default-risk-spikes-2-year-high
4. M&A set record
http://michaelekelley.com/2015/05/29/mergers-and-acquisitions-set-record/
5. Iron ore prices tumble
http://www.marketwatch.com/story/iron-ore-prices-keep-crashing-adding-to-global-growth-fears-2015-11-30
6. Baltic dry shipping index tumbles
http://www.marketwatch.com/story/shipping-index-falls-to-all-time-low-stoking-fears-about-global-growth-2015-11-19
Here is how to prepare.
http://michaelekelley.com/2014/10/16/8-things-to-do-when-recession-happens/
Here is how to get your mind off this stuff.
http://michaelekelley.com/category/humor/
Good luck!
When rational ideas dont work anymore, rulers try stupid ideas like this.
As someone from a third world country with a huge black economy, let me tell you something: abolishing physical cash can never succeed in a first world country. The ruling elite needs bribes and kickbacks that cannot be legally transferred to them. There will always be an illicit economy - of drugs in US, real estate, gold and smuggled goods, in India, that will always need physical cash. If the local currency disappears, they will use foreign currency. And funnier things like cigarette money, biscuit money, and even playing cards money, IOU notes, etc will all appear and gain acceptablity. Bitcoin will have a roaring business. Slowly more people will switch over to illicit cash economy, because it is tax- free! Carribbean will become the bankers to the world.
Funny how they scream about the riches stashed away in tax havens but do not prevent the banks of the tax havens from investing that money in US!
People of the third world countries which try this stupid idea (they will certainly try, IMF will force them) are more susceptible than the people of the first world.
News that the US dropped 2000lb bombs on a building in Mosul holding Daesh cash shows that this War on Cash should be taken seriously.
Hyperinflation is a more cost-effective alternative to bombs. When barrow-loads of worthless fiat are used to heat homes, as in Weimar, then the people will burn all the cash for you, no charge.
This is how they'll take the guns...turn in your guns for the good of society or we will turn you off. Most will begrudgingly comply because what other choice do you have...go live in the woods? The ones left will be mopped up.
A cashless society is my line in the sand. I will drop out of society when that happens. I dont know exactly what Ill do but it wont be what Im doing now.
Go to any supermarket, Vending Machine, buy a Bus / Train ticket and tell me Cash is still King. Cash is almost dead, probably only got 1-2 years left, unless you know....
Cash is dead, long live ones and zeros stored in a Computer somewhere.
The really really sad thing, younger people think it's great, they no longer have to carry money, all they need is a online computer terminal. They are totally oblivious as to what lies beneth.
I don't know what planet you are from, but here on Earth, in the state of PA, USA, I buy everything with cash, and have never had a problem in that regard. I travel all over the US and much of Europe, and the same is true there also.
In fact, many Mom and Pop restaurants I've eaten at have signs on the front door- cash only signs.
You need to get out more.
Cash is here to stay.
Own a pizzeria in philadelphia. Cash only. Becoming impossible. Drones wave their cards at me all day, every day, in disbelief. The local saloon owner came to pick up a couple of pies-was incredulous that I only took cash. I said look- just take the pies and run the cash back to me later;this a-hole says "what kind of place doesn't carry credit cards nowadays?"- I THREW HIS ASS OUT INTO THE STREET.
Ran a consumer business in UK for 18 years from 1996-2014. Paid cash taings into personal bank account (no fees) then transferred them to business account electronically; everything totally above-board, every penny accounted for, but no bank fees. Fought against plastic right up to 2012. Had to give in, too many customers walking away because they didn't have cash and were too lazy to go and find some. Plastic added costs to the business so I started by charging for taking plastic - VERY unpopular. Sold the business in 2014, new owner runs everything as online trade, many sales paid for prior to delivery, even "cash" sales go through a till which is just an internet terminal - pretty much 100% of takings are now electronic, hardly any cash. Bank of England's Andy Haldane has already said we are going to need negative interest rates and that will mean the end of cash. This article is not bullshit. It's really happening, right in front of us. Read this: http://www.telegraph.co.uk/finance/bank-of-england/11874061/Negative-int...
Right after that two air force guys came in for pizza from Maguire AFB. One guy says to the other "I never use cash anymore, I feel so vulnerable.."
You suggest:
Here, I've written your plan for you. Come and see my bolt-hole and copy it.
http://fontebispo.com/investment.html
Or just sit there and let them take it all. PH.
I recently received replacement debit and credit cards. Both are 'chipped.' I believe we are definitely moving to a cashless society. Furthermore, I believe, it won't be long until we no longer have chipped cards but are required to be chipped (implanted).
Again, not in your lifetime.
I'm guessing this is a "buy gold" guy?