Posted on 12/13/2016 8:12:03 PM PST by upchuck
As physical currency around the world is increasingly phased out, the era where “cash is king” seems to be coming to an end. Countries like India and South Korea have chosen to limit access to physical money by law, and others are beginning to test digital blockchains for their central banks.
The war on cash isn’t going to be waged overnight, and showdowns will continue in any country where citizens turn to alternatives like precious metals or decentralized cryptocurrencies. Although this transition may feel like a natural progression into the digital age, the real motivation to go cashless is downright sinister.
The unprecedented collusion between governments and central banks that occurred in 2008 led to bailouts, zero percent interest rates and quantitative easing on a scale never before seen in history. Those decisions, which were made under duress and in closed-door meetings, set the stage for this inevitable demise of paper money.
Sacrificing the stability of national currencies has been used as a way prop up failing private institutions around the globe. By kicking the can down the road yet another time, bureaucrats and bankers sealed the fate of the financial system as we know it.
(Excerpt) Read more at lewrockwell.com ...
I am reminded of the warnings about the “one-hour meltdown.”
See http://www.freerepublic.com/focus/chat/2529196/posts
As long as the value of the dollar is tethered to the oil market, then we can export our inflation to the rest of the world. We are witnessing the end of the “petrodollar”.
Credit ("others owning your future labor") will make everyone slaves to the bondholders.
"Currency on hand" can still be used as a "completed labor" monetary source. Going completely to credit will destroy that.
Well, they established their ownership over us when they took away our gold and gave us a pile of counterfeit paper in return. Taking away the counterfeit paper and giving us imaginary bits in a remote computer system in return is simply a housekeeping change. :)
I know that it once was.
Giving up on “Cash” is suicide.
The government would like nothing more that to eliminate cash.
Consider the term “haircut” and its ramifications.
Suddenly, your electronic holdings are worth %10 less, or even more.
That sudden devaluation isn’t as easily obtained when Cash is still a major player. Take away Cash, and you are leaving your savings open to “central bank” manipulation.
Cash needs to be king. Convenience be damned. You keep Cash and still have credit lines available and manage them accordingly.
Giving up cash is suicidal as far as I’m concerned.
I hope you realize that when you deposit cash in a bank, you no longer have real cash. All you have is a promise from the bank to give you cash in exchange for what you handed over. A promise that can evaporate. The cash you hand over is then used by the bank for other purposes. They never have but a fraction of cash on hand to cover all their accounts.
So yes, "cash" means what you have in your hands, not in the bank.
Don't remove cash. Write a check for physical precious metals. Out of fiat currency and into a monetary asset in your possession.
all it takes for the govt cabal is to push a button to seize all of your bank accounts or investments....
and even if they don't do that, they still will know every single dang thing you do...
I think Enterprise rent-a-car still will do it for cash.
Anyways, for everyone else, the UCC deals with this, as far as I know.
It basically says that if you owe a debt, and try to pay it with legally tender money and that offer is refused - the debt is extinguished.
Gone.
Evaporated.
I thought about that. But the posting software did not complain.
Well, when we say “cash” - they mean elimination of all physical money, leaving nothing but monitorable digital transactions as the only means of buying and selling.
it means the government, though their agents the big banks, will have total control and total knowledge of who, how, when, where, and what of EVERY transaction down to the level of penny chewing gum.
if that doesn’t frighten you, then nothing will.
Today I pulled into the gas station for gas.
Cash was 2.11 a gallon
Credit/Debit Card was 2.19 a gallon
Is this going to be happening everywhere?
Lots of gas stations in Aiken County, SC have gone to this. Bought gas today: 1.96 for credit, 1.92 for cash.
The gas station is just charging you the fee they will have to pay for you using your card.
Sweden will eliminate paper cash sometime in 2017. I rarely carry cash in Norway everybody uses a bank card. Just another sign of the End times.
Hmmmmmmmmmmm...that’s strange. I know that this site was OFF LIMITS, here, for many years.
Big Brother is watching you - and he insists on knowing how you get and how you spend every penny.
He wants his cut and he’ll stick his hand in your pocket to get it.
Buy gold and silver. Portable and easy to hide. Has been real money for 4 to 6,000 years.
NIRP. Look it up, then come back and say the same thing.
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