The Elite's Dream of a Cash Ban is Now Closer Than Ever

Phoenix Capital Research's picture

Globally the Elites are watching what’s unfolding in India… and they are doing so with glee.

In case you missed it, India banned the use of the 500 and 1,000 Rupee bills on November 8 2016.

This is effectively a complete  physical cash as these bills (both of which are worth < $10) represent 86% of all cash in circulation.

The country plunged into turmoil soon afterwards. But guess what?

The guy who pushed for this (Prime Minister Narendra Modi), remains in office. Everyone who signed off on it did too. Public outcry, while serious, didn’t have any real political ramifications.

More than this, the policy has INCREASED tax revenues for India.

Last week, while countering criticism that the economy was suffering from the war on cash, Finance Minister Arun Jaitley said tax figures told a different story.

He said income tax revenue rose 14.4% through Dec. 19, although he didn’t specify if he meant for the fiscal year or thus far in the demonetization program. Indirect taxes—including excise, and custom duties and service taxes—also rose a collective 26.2% up to Nov. 30, he said.

“What comes into the banking system gets identified with the person and therefore its impact on taxation and revenue collection is already being seen,” Mr. Jaitley said.

            Source: WSJ

Let’s break this down simply…

·      India effectively banned 86% of physical cash in circulation.

·      No one who implemented this lost their job or faced any political consequence.

·      Government taxes increased.

If you think the Elites aren’t watching this unfold with sheer delight you’re mistaken. Globally a war on cash has been declared. And India has now proved that it can be done with little consequence. The fact it INCREASE tax hauls (something every Government on the planet wants) is just icing on the cake.

If you think a similar plan is coming to the US, you’re mistaken.

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

 

 

 

 

 

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Bushogboner's picture

"If you think a similar plan is coming to the US, you’re mistaken."

Who proofreads your fear porn?

sacredfire's picture

I don't think this could happen in the US, no where on earth does a country exist that has 330 million guns and God only knows how much ammunition much less stashed cash, gold, silver and food. Remember that, while still douche bags, not all politicians are communists, socialists or progressive scum bags who want to see the ruination of this country. Maybe 10-15 years but no sooner. IMHO

Bemused Observer's picture

The problem is that you guys don't see an immediate extreme negative result to a thing, and make the assumption that this means it has succeeded, or at least that you've managed to escape the fallout...

LOL! The fallout from this is still gathering, it hasn't even STARTED heading your way yet...too soon for a Modi-victory-dance. Or an admiration-party by anyone thinking of trying something similar.

One does not do something like this and get their completed results within 2 months time...this shit hits the fan in a more leisurely fashion, with the mess unfolding over time and layering up upon itself. A series of big, stench-y turds, like a bad harvest, a dive in GDP, new aggression by old enemies...SPLAT! SPLAT! SPLAT!

900 million hungry, pissed-off people, and 3-400 million not-as-hungry people embracing the space age and digital cashlessness who don't really give a crap about the 900 million with no electricity or toilets...SPLAT! An almost certain political Death-Match between the party in power and all the others...SPLAT! Timeline? Maybe 2 years...

Yeah, India sounds like a great investment...with YOUR money!

Idaho potato head's picture

Yes the "with little or no consequence" thing remains to be seen.

Caleb Abell's picture

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

 

In the coming months?

 

They have been doing it since 2008, if not 1913.

Madison&#039;s_Ghost's picture

"And India has now proved that it can be done with little consequence."

 

Its WAAAAY too early to be declaring there are no consequences for this.

loveyajimbo's picture

"With little consequence"?? India is a MESS, economy crashing ande the people are ready to revolt.  WIll never happen here, there would be mass riots... and congress would never allow it,  they do not ALL work for Goldman Sachs.

Bemused Observer's picture

Does no one think long-term anymore?

Modi pulled his stunt just 2 months ago...there hasn't been TIME to assess ANYTHING yet! Effect follows cause, but not always immediately. You CAN make some educated predictions based on facts on the ground, like their next 'harvest' season will likely come up a bit short, as many farmers missed the planting window due to this stunt. You won't see that effect for awhile yet, but in a country of 1.2 billion, a bad harvest is more than an inconvenience.
You could reasonable expect GDP to take a hit, as many many small businesses have gone bye-bye, and they are not easily restarted once those supply-chains have dissolved. I'm sure the few big guys will manage to eke out something resembling a profit, which will be used to gloss over the damage to everyone else.
Common sense tells you that the above are likely to result in serious strains to the social order, and money will be spent either appeasing or quelling these folks. And of course there's always Pakistan, just sitting there taking it all in, I'm sure they'll stay out of the way and let things work themselves out...

So, if the elites are indeed cackling with glee, you might want to tell them to hold off a bit...very premature.

Golden Phoenix's picture

I'll take all 1,000 free copies to spare everyone else.

CRM114's picture

Decent of you.

Don't forget to recycle those electrons;)

Kprime's picture

as long as you promise to read everyone of them

Uwantsun's picture

They'll do it here in the US and in England. Certain of it. India is a dry run. Like so many dry runs they do to tighten their operational plans. The kick 4 million people out of national parks dry run. The vaccination dry run.

They've gotten ready.

If it's in your bank, expect asset seizure of some percentile. If it's cash, then demonitization.

Gold for assets, silver for barter. Supplies for the first 90 to 180 days.

And they WILL GIVE NO WARNING. They didn't in any other country and they are demonitizing somewhere it seems, every week.

Get prepared. It's coming fast.

CRM114's picture

Tyranny 101:

You cannot run a police state without police, or the army, and western governments have systematically trashed both. If they think arming a plethora of random alphabet agencies is going to make up for that, then they are in for a very nasty surprise. The kind Gaddafi got. The fat cow from the liquor control board with a 38 special won't last 10 seconds.

Calculus99's picture

I used to like £50 notes but have started to switch to £20s for my stash.

If I had $100s I'd be switching to $50s or even $20s.

Who the fuck knows, maybe even Silver Dollars.

 

A. Boaty's picture

Amazingly, this makes me want to stack a fraudulent, irredeemable debt instrument.

RothschildPrivateEquity's picture

The one world currency is already here, the chip in most all new credit/debit cards, and it will get more sophisticated as technology advances.

Rikky's picture

Mark of the Beast where no one will be able to buy or sell without this special mark.  Many biblical experts think this will be some type of biochip implanted in your body.  The Bible says the forehead or hand.  Bible prophecy is coming to fruition at a rapid pace as the end of this Age draws to a close.  Mock at your own peril.