The Big Theme for 2017: Global Cash Bans

Phoenix Capital Research's picture

The big theme for 2017 will be Cash… not a pro-deflationary “time to own cash” theme… but a “let’s ban it as quickly as possible” theme.

Let’s review.

In 2016:

1)   Former Secretary of the Treasury, Larry Summers, called for the US to do away with the $100 bill.

2)   Former Chief Economist for the IMF, Ken Rogoff, published his book The Curse of Cash.

3)   The New York Times and Financial Times publicly endorse a ban on cash.

4)   Fed Chair Janet Yellen, during a Q&A session said cash is “not a convenient store of value.”

Of course the above items are simply propaganda and words. But 2016 also featured major actions as far as the War on Cash is concerned…

The 7th largest country in the world by GDP (India) banned physical cash in denominations that comprise over 80% of all outstanding bills.

The move was a political disaster… temporarily, but no one was forced out of office and the legislation remains in place.

The message here: you can get away with this kind of thing… even in a country in which physical cash is STILL the dominant form of currency.

Venezuela has since followed suit, banning any bill that is worth more than 3 cents. There as well, the policy was met with political outrage… but the ruling part/people remain in power and no one was forced out of office over the matter.

Put simply, 2016 was the year in which the 7th and 33rd largest nations by GDP went effectively cashless… and no one lost their jobs over it.

You can imagine the glee the elites felt witnessing this… particularly in countries in which 50%+ of transactions no longer involve physical cash (60%+ in most developed nations).

After all, the only thing these people do worry about is losing their jobs. Provided no one is kicked out of office as a consequence, any policy, no matter how terrible, is considered viable to this crowd.

Which is why 2017 will shape up to be the year of the Global Cash Bans.

Numerous developed nations (France, Spain, Denmark, Sweden, etc.) have already banned cash for certain transactions. Next year (2017) is the year we expect to start seeing policy pushes for complete bans on cash.

Indeed, we've uncovered a secret document outlining how the Fed plans to incinerate savings in the coming months.

We detail this paper and outline three investment strategies you can implement

right now to protect your capital from the Fed's sinister plan in our Special Report

Survive the Fed's War on Cash.

We are making 1,000 copies available for FREE the general public.

To pick up yours, swing by….

http://phoenixcapitalmarketing.com/cash.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

 

 

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
The KY Wizard's picture

There's one big difference -- this is the Amerika -- and I believe we are a cunt hair away from a REAL civil war: color, fags, illegals and politicians/banksters. And, we are armed to the teeth with a military that's ready to clean our foriegn-ran house.

I believ it's going to get ugly -- beyond anyone's expectations... or wildest deams. 

stant's picture

Martin Armstrong  agrees with you

Fireman's picture

I "own" what I have..what I can control...what is in my possession. The entire blockchain Bitcoin scam is for the sheeple, as bad if not worse than fiat toilet paper. Meaninglwss blips on a screen when the banksters and government control the flow of electrons. I embrace the barbarous relic in the fight to remain a free man as much as my weapons.

 

Onward to the the co££ap$€ of worthless Pentacon protected fiat filth and the execution of the banksters and political whores that peddle it!

sosoome's picture

Who cares about that paper relic?

It's a snap to scan my phone when I buy something, and my account is instantly updated.

uhland62's picture

You are doing this voluntarily. Not everybody wants to do it this way.

 

Just like we do not want to force you using cash, so please do not force us to use digital only. 

SoDamnMad's picture

EMP in 3,  2,  1  Thanks CIA for downing that Russian jet just before Christmas

https://www.youtube.com/watch?v=Ugf3b76tn_o

Red Army Choir

 

Battle Hymn of the Republic

Mad Muppet's picture

Yeah, I'm always reassured that things are going to be ok for some time yet when I read a Phoenix doom-porn post.

dark fiber's picture

I think the intention in India is to replace the old 500 and 1000 Rp notes with new 500 and 2000 Rp notes.  The nasty thing it the tight deadline.  At least that's the impression I got.

Anonymous_Beneficiary's picture

Based on Phoenix Capital's past predictions, there will be no global cash ban in 2017.

That is all.

cherry picker's picture

Click bait is as click bait does.

Years ago they made sense, but none of it happened and they keep on crying out the "sky is falling"

Mr Poopoo Guy's picture

"The G wants to confiscate your wealth, give it to me before they do."

 

Riiightttt !!!!

American Gorbachev's picture

if Trump was 'engineered' into office to do to the rural, white, nationalist, middle-class (and small business) what Obama did to the 'anti-war' movement, then this may very well be the (an) avenue for his actions (possibly the kerfuffle over the $20 Jackson bill is both a temperature-taking and a camel's nose ?)

it warrants constant vigilance and utmost resistance, for when all transactions are digital and recorded, another large chunk of liberty will be gone for a long time

kudos, mr summers, keep up the good work

Mad Muppet's picture

Where does he get all of these secret documents? Is Graham Summers connected to the KGB?

Cynicles's picture

"Fed Chair Janet Yellen, during a Q&A session said cash is “not a convenient store of value.”"

Not conveinient for the Banksters and other various, nefarious crooks. 

TahoeBilly2012's picture

Nothing compares in tyranny to the abolition of private transactions, it's beyond freedom of association. We need a Constitutional amendment protecting ones right to private transactions.