Davos Elites Call For a Ban on Physical Cash... in the US.

Phoenix Capital Research's picture

Roughly two weeks ago, when writing about the cash ban in India, I stated:

 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.

http://www.zerohedge.com/news/2017-01-05/elites-dream-cash-ban-now-closer-ever

Fast forward to this week at the Davos Economic Forum in Davos Switzerland, and Nobel Prize winning economist Joseph Stiglitz all but said the exact same thing.

Indian Prime Minister Narendra Modi has already removed 86% of his country's currency from circulation in an attempt to curb tax evasion, tackle corruption and shut down the shadow economy.

Should the US follow suit?

Joseph Stiglitz, Nobel Prize-winning economist, thinks so. Phasing out currency and moving towards a digital economy would, over the long term, have “benefits that outweigh the cost,” the Columbia University professor said on day one of the World Economic Forum's Annual Meeting in Davos…

“I believe very strongly that countries like the United States could and should move to a digital currency,” he said, “so that you would have the ability to trace this kind of corruption. There are important issues of privacy, cyber-security, but it would certainly have big advantages.”

https://www.weforum.org/agenda/2017/01/the-us-should-get-rid-of-cash-and-become-a-digital-economy-says-this-nobel-laureate-economist

Again… the War on Cash is not slowing down. India effectively removed 86% of the physical cash in circulation and no one was forced to resign.

Put simply, India signaled to the global elites that you can implement a near complete ban on physical cash, and there are no real consequences as far as political aspirations.

We believe that the Elites will be pushing for this policy to hit the US. If you think this is impossible consider that Stiglitz openly called for the US to ban cash in the article above.

Indeed, we've uncovered a secret document outlining how the Fed plans to ban physical cash and 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.
eclecticmn's picture

I'm touched at how the top 0.1% want to help the bottom 99.9%.

 

 

lanceelliott's picture

Why don't we just ban physical "elites" in the U.S., and keep our cash.

Elentari's picture

It is much easier for criminals to steal from cards thant it is for the, to steal cash!      MUCH easier.

 

Calculus99's picture

Surprise I haven't heard the argument yet about banning cash - it's for the children...

oldschool's picture

Keep your eyes on the prize: total control.  "Democrats this, Republicans that"; "it's for the children"; "if we don't ___________, the terrorists win"; "we need to take away _____________ to fight corruption" -- it's all handwaving distraction.  The real game is always total control.

Grandad Grumps's picture

He will talk about the "Miracle of India" (remember Dukahkah?) and how his reforms "progressed" civilization.

Clown(squared)

Wild E Coyote's picture

Nobody removed cash in India. It is wrong to say so. The story about 86% money was taken out of circulation is also bullshit. 

Big Notes which were no more legal tender were replaced with smaller notes. That is all. The printing of the large amount of smaller notes were delayed and thus created long queues.

In the end, all 86% or whatever amount the Big notes represented were replaced with smaller notes, meaning cash. 

This article is misleading, in saying Cash was banned in India.

Anybody following the Indian program should know that India has increased the limits of ATM withdrawals (in cash) and actually reduced the limit on card transactions. They also cap the merchant discount fee on cards transactions. and waived fee on cash card transactions. This is not what a Government does if it intents to remove cash. 

The Nationalized Indian Banks were starving for funds, and the cash exchange program allowed a little more money to be saved in Banks. The Government is trying very hard to encourage people to trust the Bank and keep their spare cash in it. Nothing more.

 

Singelguy's picture

Government can ban cash all they want. The people will find another means of exchange to get around government control. I am just curious to know how the politicians will get their kick backs and keep it on the DL without cash.

americanreality's picture

"Pintar's parents aren't even going-  and they're Indian!"

cwsuisse's picture

The best strategy is to turn against governments that follow idiots like Stieglitz.

Fireman's picture

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

lakecity55's picture

The banksters have "re-hypothecated" so much "money" they could probably never print enough physical currency (and coins) to cover their gambling debts. And, might I add, gambling with OUR man-hours of labor converted into "cash and debt."

Now, you could force a Default on these TBTFs and break them up.

The Treasury could introduce US Notes which don't bear a debt, such as the FedRes debt notes we use now in the US.

They are pushing for cashless economies since that's the only way out to continue their debt scheme.

By using electronic money, they can also control everyone. But, we all know there will be an Event* which shuts down the machines. Your electonic money cards won't work. The Banksters will have Au and Ag. They will be able to continue while evryone else is "doomed."

The only real answer is to eliminate the fractional reserve/debt system we now have. Money will have to be based on PMs, Resources, and man-hours of labor.

So, end not just the "Fed" but the B for IS which is the Mother of All Central Debt-Note Banks!!

*An Event could be anything that takes down the financial computer networks. War, Solar Flares, Giant Meteor, etc.

 

calal's picture

Phasing out currency and moving towards a digital economy would, over the long term, have “benefits that outweigh the cost

0.1% ll take the benefits,the 99% ll take the cost.
if 0.1% win 3 billions and 99% lose 1 billion,the system has created 2 billions more but does the 99% really care?

maybe if the 0.1% need more shoepolisher... maybe the 99% may hope they may wipe the 0.1% afterwards to reclaim the 2 billions just created... wait... maybe take back the 3 billions just for the point...hum maybe since we re already here maybe take back all from the 0.1% to spare the trouble for the next bad idea they gonna have...

hum seem to me that they will be no more bartender or waitress jobs created but policemen and private bodyguards...

Grandad Grumps's picture

I understand that "cash" is calling for a ban on Davos elitists.

This is exactly why we need global competition of ideas and power structures. Monopoly stagnates everything, including elitists and it makes them fearful and pumped up on ego.

SoDamnMad's picture

Yes, ban PM Modi because when half the Indian population starts to starve to death because of his screwed up plan to remove all the currency with ??? heaven knows what, he will have to flee the country and then give speeches about how effective the program was at GS conferences. 

OutragedYT's picture

I was just thinking, I use a credit card for everything now, and just pay it at the end of the month. My AMEX gets 5% back on some purchases and 3% for everything else.

Snaffew's picture

yes...this is the prep stage for America eliminating cash from the system.  They have been training Americans Pavlovian style for a decade now with all these "cash back" on your purchases credit cards.  Now most want to use their credit cards for everything to get this 2 percent back.  I guess 2 percent is a small price to pay to completely remove your anonymity and privacy from the system and along with cell phones, completely allow big brother to know exactly where you are, who you are talking to, what you are buying, and what, if any, deviant habits you have every second, minute and hour of each and every day.  Congratulations---you have been fully assimilated by the Borg.  You should be proud of your Amex card status.

Free Man's picture

Oh sure, let's make it even easier for The Fed to create money out of nothing and give it to whom ever they want.

Audit The Fed !

Then End The Fed !

 

Dragon HAwk's picture

One three day power outage, will  show the advantage of cash..  what if they banned green money, and the people continued to use it as barter script.  I can buy almost anything with beer and Bullets.

WorkingPoor's picture

One  NATIONAL three day power outage will show the advantage of cash.

Fixed that for you.

 

WP

Snaffew's picture

Drugs, Liquor, ammo, and food in that order are the ultimate forms of bartering payment for future America.

YourAverageJoe's picture

Our President is a billionaire, which tells me he likes real money.

He likes gold too:

www.foxbusiness.com/markets/.../trump-accepts-gold-instead-dollars-from-tenant.htm...

WorkingPoor's picture

I would not be a bit surprised if DJT

+ told the Davos guys to go swimming in a shark tank in sirloin swimsuits

+ put us BACK on a PM standard. Silver for domestic, gold for international.

 

That would be a LARGE step in MAGA.

 

 

 

lakecity55's picture

Fuck Davos.

We'll use poker chips.

YourAverageJoe's picture

I don't know a single person in my life that doesn't have at least one gun in their house.

I wonder how many households in India have a gun?

JailBanksters's picture

There's a reason why Casinos only let you gamble using their own plastic money.

1. They have control over your Money and can't be used in any other Casino

2. Gambling with Money was Illegal, so you exchanged it for their Money and you Gambled with that.

It's the same with returning goods to some stores, you can't your money back, but they give you store credits.

Store Credit only has a value to you, it's has very little value to the store, the Issuer of the Credit.

 

This is what cashless means, it only has value to you, it has very little value to those that control these casino iou's.

 

Global Douche's picture

"Pepe the Frog Shrugged" should be the title to the new, multi-million best seller on the NYT's booklist

When you deposit $$ to a Bank, they accept your money and you become an unsecured creditor to them. In a cashless economy run by a bank$ter's blockchain (which the public likely will have no access to, unlike Bitcoin - and yes, I have a Bitcoin node operating here!) bear in mind the government will have their fingers in that pie from the start. It makes matters to them rather convenient of collection of any "taxes imposed", so forget about "voluntary compliance" as contained hundreds of times in the IRS tax code. Several states will be even more draconian, especially desperate ones as Kansas, Illinois, the coastal ones, and here in Oklahoma. The tracking of each and every item purchased makes this even more insidious. I spoke to an Indian from India about this very subject. He likes how it will remove the black market back at his home, with Indians taking bribes on nearly everything, that makes sense. I see this as making preparation for an digital outage as mandatory for survival. If his apathy for one's Liberty is any indication of what's to come to this nation later, that preparation in America includes resistance, which won't work without enough education and numbers to keep what cash is necessary to keep the hookers, drug dealers, politicians and judges in business as usual. Ah, but the answer that Indian scammers give to our problems are those money cards one buys at the store, or the poleece arrests us because they abuse our system from the comfort of their own soil, as a few have already done! 

lakecity55's picture

Well, gee, I thought it was to make handling different denominations of money easier.

Plus, if you are like my brother and get loaded and lose your stake, they don't have to give you any cash back, it goes to their bank. I have to hide the gas money to get back to Lansdale after we finish at Atlantic City.

 

Crush the cube's picture

Peons call for ban and elimination of Davos Elites.

AOV's picture

Well, bring it on then!!! The repercussions will be unbearable!!! 

YourAverageJoe's picture

Americans definitely ain't Indians.

lakecity55's picture

Fuckin' A! We're Deplorable!
***
"...and so, constituents, that's why we have to get rid of nasty Mr Cash. As your Congressman--- Say, what's that big rope for? Do I smell tar, too? What's going on here??"

 

SoDamnMad's picture

Do you smell Vaseline?  Can't. We didn't bring any. Pizzagate  Pizzagate Pizzagate Squeal little piggy. 

harleyjohn45's picture

I hate the thought of a cashless society, however if they decide to do it, there is very little we can do about it.  A little silver and gold and some bartering?  This would be miserable world.  I could get by with digital, but I would not like it.  I suppose the drug dealers would be affected the most.  There about 60 million in the USA that does not have bank accounts,  What will they do?

bshirley1968's picture

Furthermore, your life might finally get some meaning if it had what you call "miserable" in it.  You might have to do something other than worry about what ball team is going to win what game or where to go shopping for more crap you didn't need anyway.

Life might get real again and things that are important become important again.  You might wake the hell up from your "matrix" dream and get a dose of reality before you check out.

You might realize death is a real and ever present event.  That it's better to face death like a man for something meaningful rather than withering away in a bed with somebody feeding you and wiping you ass until the system sucks out all the fiat they can before you quit breathing.  You might think about what is on the other side and realize life is the time we have been given to prepare to meet God.  You might become a meaningful influence on those around you and leave a legacy other than a storage shed full of yard sale junk.

Quit holding on too tightly to shit that has a shelf life equal to your life span.  It'll cause you to miss the meaning of life.

bshirley1968's picture

It's a chicken shit attitude like that getting us in these positions.  "They" don't get to "decide" that.  It would be unconstitutional on so many levels to "force" us to a digital currency.

Now I know it's coming, but I don't have to go along with it.  When that day comes, I will be a one man revolution if no one else joins me.  And you can bet, I won't be shooting my coworkers or blowing up pressure cooker bombs at marathons or terrorizing fag boys at some gay bar.

Somebody that suggested, backed, and enforced that "decision" is going to get involved in the consequences. ......personally.  I will not be someone's worker bee that gets issued some "republic credits" as long as I am a good little boy and do, think, and speak as told.

lakecity55's picture

The hell we can't do anything about it.

We have ways......

 

Lets Buy The Dip's picture

with bitcoin, you can tell, the invention of that, was no accident, and a cashless society is not far away. All planned. 

they stop Trump from grabbing P##sies and tiddies, but they still let us buy Marijuana stocks. 

LOL. I am getting excited about 2017 some Marijuana Penny Stocks Expected to Soar here ==> http://www.bit.ly/2juMQwR

and even trump looks like he could back these sorts of things too. I never thought he would. Crazy right?

Snaffew's picture

marijuana stocks are a terrible investment.  i know a bunch of manufacturers in CO, and the margins to grow are less than 5 percent.  Most are dropping out of the manufacturing and buying from others to sell retail.  they said they get an extra 2 percent without all the work and headache.  Marijuana is now a commodity like corn.  Not much for profits there.  It used to be a literal money tree before they legalized it---now, it is the same as growing any other crop.  Would you invest in an apple growing company?  You now have your answer.

Stu Elsample's picture

about 1000 well placed lead projectiles will quickly cure the globalists' and bankers' NWO madness.

 

wow017's picture

Just becasue India does does not mean otehrs will or even can - this article is hype to get your email.  

VWAndy's picture

 It wont take long for the results to be seen in India. Trade will go on. In what is all we are waiting to see. Eggs is my guess.

AlbertthePudding's picture

Meaning we just have to trust the government - sounds unconstitutional in the US and downright criminal everywhere else.

I have no idea what is really going on in India but that move is yet to play out methinks! What happens when the system is either hacked or goes down? This is techno-madness at a level few can imagine..everyone will be holding a year's supplies if they have anything left to buy them with but this brings in total surveillance so if your politics arent those of the current government look the hell out!

 

As for those "snout-in-troughers" in Davos...as long as they dont have their feeding disrupted they couldn'g give a toss!

HoserF16's picture

Unelected Foreigner Assholes, dictating monetary policy to the US citizens. Let me know how that works out for you in Washington D.C.

If you want to Unleash Hell in America, try it. Just try it. You've been warned.

 

Aireannpure's picture

Cash, what cash?  There is so much debt who can hold cash? Drug dealers, pimps/whores, Casino's, small businesses, DNC. There goes the skim. What will waitresses do?

Aireannpure's picture

Cash, what cash?  There is so much debt who can hold cash? Drug dealers, pimps/whores, Casino's, small businesses, DNC. There goes the skim. What will waitresses do?

Gadfly's picture

The final and desperate move by the private central bankers to gain absolute and total financial and political control over the entire planet.  We must fight this to the death will all the force and ingenuity we can muster.  There must be a populist revolt.  Fuck these evil "central" planners.  ZH can be the tip of the spear.

soyungato's picture

Elininate cash and go digital will rob us of our freedom simple as that. Your neighbor does not like your Trump sign on your lawn, he call his buddy at the city hall. Soon you are having problem with your digital transaction. You cannot buy anything, not even food. How do you like that? You run a small business ? You open your mouth on a politically incorrect issue and suddenly your customers have trouble paying you digitally, ditto your paying your supplier.

Think this is far fetched ? Why then must Deutsch Banbk negotiate how much it will be fined recently by the US government. I fine you 21 billion and you go out of business. If you blow me, I fine you. 7 billions and you survived.  

I dont have the link anymore but it was said, the India cash ban was engineered by the US. Stay alert to the shit that is coming to the US and fight back !

Bloodstock's picture

Eliminate cash and they'll all be beholden to us as we will finally be the rulers of the world ! ! ! Guess what fuckers, fuck you, no way!

TacticalTrading's picture

Are these not the same people that came up with "New Math" and "Whole Word Learning" 

Stupid is Stupid, and there is no cure.