[SkyPilot]

A must read. Look at the charts.

Understand what the author is saying here:

if investors/depositors were ever to try and convert even a small portion of this “wealth” into actual physical bills, the system would implode (there simply is not enough actual cash).

Remember, the current financial system is based on debt. The benchmark for “risk free” money in this system is not actual cash but US Treasuries.

In this scenario, when the 2008 Crisis hit, one of the biggest problems for the Central Banks was to stop investors from fleeing digital wealth for the comfort of physical cash. Indeed, the actual “thing” that almost caused the financial system to collapse was when depositors attempted to pull $500 billion out of money market funds.

Cash will be eliminated. That will happen. The Bible alludes to this in Revelation and the Mark of the Beast, whereby one day all financial transactions will be digital requiring a tattoo or mark on the hand or forehead in order to buy or sell.

Negative Interest Rates are a war on cash. The Central Banks want you out of cash and invested in risk markets. If you have not figured that out by now, you need to pay attention to what banks in Europe are now doing, and what Janet Yellen said today regarding Negative Interest.

[SkyPilot]

StoneWall - can you send this to your Bible Prophecy list? I think it fits. We are witnessing a very major prophetic perfect storm.

[SubMareener]

Just remember: If they tell you that you have to have a MARK on your forehead or you right hand to buy and sell, DO NOT TAKE IT! Better to loose your life than your immortal soul.

[I want the USA back]

Just a means of control. If everything is electronic, the establishment will be better able to take whatever it wants from those who earn it and give it to their political constituencies.

[Idaho_Cowboy]

if investors/depositors were ever to try and convert even a small portion of this “wealth” into actual physical bills, the system would implode (there simply is not enough actual cash).

---

That’s a given with fractional reserve banking. The problem is you can create a run on the whole system and the FDIC doesn’t have a magic want it can wave when you want to get your hands on your money so they’ll force you to accept the ultimate fiat currency, a number on a spreadsheet.

[Mr Apple]

(there simply is not enough actual cash).

Glad I'm just a small fry investor as I can still sleep well each night. But, I wonder how those who have one hundred thousand and up invested in stocks are sleeping at nights now. I'll bet there's a lot of tossin' and turnin' going on this past two weeks. :(

[StoneWall Brigade]

End Time Bible Prophecy Ping

Mark of the Beast Revelation 13.

To be on the End Time Bible Prophecy Ping List, FReep mail me, or Saveferris

[ctdonath2]

Most “money” is debt. Stocks constitute hypothetical value, manifesting ONLY when someone actually sells it to another actually paying money for it. Bonds and other “instruments” are, literally, debt. Even the “cash” in your checking account is debt: the bank owes you, and assumes they’ll actually have cash on hand should you “cash out”.

Old aphorism: “bad money drives out good”. Cash currency is good money; debt currency is bad money. Those holding “good money” want to keep it, so they do everything they can to _not_ hand it over to others. By restricting access to cash (you can’t even expect to walk into a bank and empty your checking account, limited to $X,000/day withdraws), adding fees for handling cash, and otherwise discouraging its use, the banks persuade customers to make “debt money” (reassignment of who-owes-whom numbers) their norm and, thus, the bad money drives out good.

It’s even gotten to the point that a discovery of ANY abnormally large cache of cash is presumed ill-gotten contraband and subject to immediate confiscation, putting burden of proof on the now-denied owner that it is not the result of criminal activity. You can’t keep, say, a year’s salary on hand literally under your mattress.

Darkly amusing: we’ve gone thru this before. Used to be the dollar was gold-backed, with far more paper currency in circulation than the gold available to pay it all off. Finally, after decreasing gold holdings and increasing friction to access it, the link was finally dropped entirely. We survived (for now).

[Ken H]

Thank our Drug Warriors for laying the groundwork =>

The Bank Secrecy Act of 1970 (or BSA, or otherwise known as the Currency and Foreign Transactions Reporting Act) requires financial institutions in the United States to assist U.S. government agencies to detect and prevent money laundering.

Specifically, the act requires financial institutions to keep records of cash purchases of negotiable instruments, and file reports of cash purchases of these negotiable instruments of more than $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities.

http://en.wikipedia.org/wiki/Bank_Secrecy_Act

[Amendment10]

"The global Central Banks have declared War on Cash."

Just so patriots are aware, the Founding States had expressly constitutionally obligated the states to use nothing but gold and silver coin for legal tender.

Article I, Section 10, Clause 1: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts [emphasis added]; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

So the corrupt, post-17th Amendment ratification federal government unconstitutionally confiscated gold coins and issued paper money.

[unlearner]

“The Bible alludes to this in Revelation and the Mark of the Beast, whereby one day all financial transactions will be digital requiring a tattoo or mark on the hand or forehead in order to buy or sell.”

While this may be how things play out, the Bible does not say anything about financial transactions being digital.

[central_va]

I am against a cashless society.

Having said that there are a tons of benefits to going cashless. Cashless kills the black market cold dead. How are you gong to buy drugs with a check? Right.

Pay a prostitute? Give her your credit card? Pay illegals under the table? Not possible. But still the cons out way the pros.

[upchuck]

I got to thinking about this many years ago. By following my credit/debit transactions, my whole life could easily be reconstructed.

That’s when I decided to go completely cash. (Granted, there are some situations where cash won’t do; Amazon.com, et al comes to mind.) But I try hard to pay cash when ever I can. I’m not 100% traceless, but I’m way more that way than I was.

Sometimes you get strange looks when you pay with cash. Recent repairs to my truck came to $349 and change. I paid with cash and the cashier’s eyes got big when I pulled out 3 one hundred bills, a couple of twenties, a five and four ones. Oh, and the change. She said, “Sure you don’t want to pay with a credit card?” I said no, the cash will work.

The bankers can go to he!!.

[fella]

The greatest robbery in history continues apace.

[StoneWall Brigade]

Here You go Matt you might wanna check this out.