Posted on 01/13/2017 7:04:16 AM PST by Weeble
In early November, without warning, the Indian government declared the two largest denomination bills invalid, abolishing over 80 percent of circulating cash by value. Amidst all the commotion and outrage this caused, nobody seems to have taken note of the decisive role that Washington played in this. U.S. President Barack Obama has declared the strategic partnership with India a priority of his foreign policy. In the context of this partnership, the US government’s development agency USAID has negotiated cooperation agreements with the Indian ministry of finance to push back the use of cash in favor of digital payments in India and globally. The business interests of the U.S. companies that dominate the global IT business and payment systems are an important reason for the zeal of the U.S. government in its push to reduce cash use worldwide, but it is not the only one and might not be the most important one. Another motive is surveillance power that goes with increased use of digital payment. U.S. intelligence organizations and IT companies together can survey all international payments done through banks and can monitor most of the general stream of digital data. Financial data tends to be the most important and valuable. Even more importantly, the status of the dollar as the world’s currency of reference and the dominance of U.S. companies in international finance provide the US government with tremendous power over all participants in the formal non-cash financial system. It can make everybody conform to American law rather than to their local or international rules.
(Excerpt) Read more at norberthaering.de ...
Yes it is.
They want complete control and the ability to track every purchase.
Modern economics is a boondoggle. People create Debt and think they are creating Money and/or Wealth.
I would prefer currency backed by precious metals.
Ping me for articles from Greece....Mrs Spokeshave has them.
Or goats.
If obummer was in for another four years i would be more concerned. Lets five trump a chance. He must know we need a standard.
That’s where we could be headed. Everytime you use a credit or debit card, you leave an audit trail, a paper trail, behind you.
Do you want some government bureaucrat knowing how much you spend on booze or cigarettes or gambling or fast food???
It sounds very big brotherish to even speculate about any of this, but if we ever have a government which wants to snoop on citizens, and attempt to control behavior, controlling and monitoring our money management is one key tool that such totalitarian mindsets would employ.
Modern technology, along with moves to restrict the use of actual cash/currency to make financial transactions, could result in a financial dossier being kept on all of us.
Which is why this must be resisted mightily.
I don’t know how to ping. I’ve been reading Freep for years, but never understood much of the nomenclature.
All money rightfully belongs to the globalists.
The gold standard would greatly limit the power of central banks to create money. The deluge of cheap fiat money since Nixon dropped the gold standard has been a boon to global economics. But, as fiat money has no inherent value (only the value that someone will accept it in exchange for goods and services) some day the piper will have to be paid. While I theoretically support the gold standard, I think it’s too late. Imposing it now would crater the global economy sooner rather than later.
If true, that is just gonna make us REAL popular in India.
The public blowback from this was YUGE!
Fiat justitia ruat cælum is a Latin legal phrase, meaning “Let justice be done though the heavens fall.”
I do not believe in “Too Big To Fail”.
Fiat money and the idea that debt makes the world go round is a bad concept and we need to get rid of it. It probably will be painful. But time stretches before us — on, and on and on. At some point, we need to do the right thing. Why not now?
“They want complete control and the ability to track and tax every purchase.”
Give it a little time for the sheeple to accept that Big Brother knows best, and they’ll start preventing people from making certain purchases. The move will probably be cheered by many people. The initial bans will be labeled as “common sense” moves. If a person owns a vehicle, but misses a car insurance payment, their money card will stop working at the gas pump. Once everybody is forced to into some sort of so-called healthcare plan (oh, wait...) insurers will demand that certain items can’t be bought by people supposedly prone to certain illnesses. It will all be labeled as “for the common good”. Some ‘gang’ of politicians will hail it as a “bold move” to finally win the battle against some long running problem, such as, the war on drugs, which ironically will also be one of the reasons a cashless society will be delayed; certain elements of the ‘shadow government’ depend upon the billions raised every year in the illegal drug market to fund their operations.
And your “Smart Fridge” will send information to the insurance companies alerting them to what kinds of foods you eat.
Along those lines I saw an item the other day where people are starting to develop copper poisoning from eating too much kale.
You can’t play the lottery with a debit card or credit card so how will they get around that?
Yet another reason to support Bitcoin. These @$$hole$ cannot control Bitcoin and cannot use it to fund their wars and their vote-buying and pedophilia.
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