As we keep warning, the War on Cash is set to accelerate.
If you want proof of this, consider that India has not backed down on its cash ban in any way shape or form… despite the fact that the cash ban has been a complete disaster politically with widespread protests.
Because it is accomplishing the Elites’ Central Planning goals:
…Indians are switching to electronic payments more rapidly than many experts had predicted, and in speaking of the recent currency moves, Mr. Modi has begun emphasizing the benefits of a cashless economy over the anticorruption fight.
Source: NY Times.
Other countries are taking note that you can impose a major cash ban without committing political suicide. Australia is now pushing for an end to $100 bills.
SAY goodbye to the $100 note.
Australia looks set to follow in the footsteps of Venezuela and India by abolishing the country’s highest-denomination banknote in a bid to crack down on the “black economy”.
Speaking to ABC radio on Wednesday, Revenue and Financial Services Minister Kelly O’Dwyer flagged a review of the $100 note and cash payments over certain limits as the government looks to recoup billions in unpaid tax.
Once again, the proposal is being pushed as a crack down on those who break the law… but the reality is it’s all about the Government wanting to obtain 100% control of the financial system.
How do we know this?
Because the architect of the global cash ban, former IMF Chief Economist Ken Rogoff, outlines the REAL goal in of a cash ban in his 2014 paper, Costs and benefits to phasing out paper currency:
… it is precisely the existence of paper currency that makes it difficult for central banks to take policy interest rates much below zero, a limitation that seems to have become increasingly relevant during this century.
The point of a cash ban isn’t to improve anything… it’s an attempt to increase Central Banks’ control of the economy. And if you think the US isn’t working to implement precisely such a scheme, 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.
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Chief Market Strategist
Phoenix Capital Research