As far as I can tell, cash is almost dead. It will be removed totally at some point, so that tyranny can have total control over every individual.
See Revelation 13.
Posted on 05/25/2015 5:06:04 PM PDT by SkyPilot
The United States government could start seizing 401(k) plans, says one economist who believes a recent Supreme Court ruling sets the stage for Washington to initiate any such plans.
Economist Martin Armstrong published a blog post Monday that took a look at the recent Tibble v. Edison case. The court concluded that employers have an obligation to protect their workers’ 401(k) plans from mutual funds that provide deplorable returns. Armstrong thinks this could give the federal government the arsenal to begin seizing private funds and take companies to court if mutual funds perform poorly. This comes as the Obama administration has attempted to battle Wall Street brokers who peddle certain retirement investments that may prove to be a conflict of interest.
Here is what Armstrong, who reportedly predicted the ’87 crash and 1990s Russian economic collapse, wrote in his article:
“This comes just in time for then the next step is government to seize private funds and prosecute employers who choose badly a fund manager. This fits perfectly just in time for the Obama administration’s next assault as they prepare a landmark change of its own by issuing rules requiring that financial advisers put the interest of customers ahead of their own. This creates a very gray area wide enough to justify public seizure of pension funds under management.”
He added: “Between the court ruling and the Obama administration’s push for stronger fiduciary rules send a strong message that government can much easier seize the pension fund management industry of course to ‘protect the consumer.'”
(Excerpt) Read more at economiccollapsenews.com ...
Yes, someday the government might try to do all mentioned in the article. Maybe. I recall the Y2K doom and gloom crap.
Jan 01, 2000 came and past.
Cypress, Greece, Spain or whoever are desperate and raiding their citizens. This does not mean we will follow suit. With regards to socialism, we are just now going past the 50% mark. We still have hope and our 2nd Amendment should scare the hell out of any politician that tries it.
Personally, the tripe making up this article will not cause me any sleep loss.
A plot point of a Streets Of San Francisco episode.
The Drug War took care of that long ago =>
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
Just google cashless society. Serious people and institutions are promoting this and consider it a foregone conclusion.
This kind of thinking won’t end until a few lamp posts are decorated. Politicians do not respect, let alone fear the people. Yet.
They will say, "Where is this 'coming' he promised? Ever since our ancestors died, everything goes on as it has since the beginning of creation."
2 Peter 3:4
I approach everything with a jaundiced eye, except for Scripture. The signs of the times are not only alarming, but they are increasing in frequency.
Moreover, a 10 year old could tell you that you can't keep spending money we don't have. The world is now mired in overwhelming debt. Banks are charging "negative interest" for those holding cash. The Stock Market is a fictitious joke, based on Fed pumping. We have President who forged his Selective Service card, and his Certificate of Live Birth has so many Adobe layers that it is comical. The takers now outnumber the makers.
Not to mention the powder keg in the Middle East.
If I am wrong, and we last another 10 years, I'll post an apology to you. But I bet we don't have even 2 years.
+1.Good that someone on FR has a historical perspective on Martin Armstrong.
As far as I can tell, cash is almost dead. It will be removed totally at some point, so that tyranny can have total control over every individual.
See Revelation 13.
The boiling pot hasn’t even caused a march on DC....not since before 0bolaCare *passed*. Look what all has happened since.
So start using cash. All the time.
If this is what the elite want, fight it. Cash your paycheck and use it.
Very true. Have you seen these "financial experts" who supposedly know what they are doing?
They hang on every word the clueless Janet Yellen utters.
The market will swing by Billions depending on her use of the word "is" or "because."
The FDIC only has about $25 Billion in deposit insurance fund, and by law they can keep a balance of only slightly above 1% of all deposits. The banks cannot afford a cash run, and the Feds know it.
If you try to take more than $3,000 from any bank in cash tomorrow, I can almost guarantee you that your name and account will be forwarded to the IRS, DEA, and FBI. Even though Federal law dictates the make amount to "alert interest" is $10K, banks report at a much, much lower threshold, and have for years.
Doubt that happens this time around......
You can pull out some cash and start using it.
She ain’t funny. To some folks.
The Patriot Act lowered the Threshold from $10k to $3k.
later
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