Posted on 01/02/2017 7:10:24 PM PST by oblomov
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. That is surprising, as Washington's role has been disguised only very superficially.
weiterlesen
US-President Barack Obama has declared the strategic partnership with India a priority of his foreign policy. China needs to be reined in. In the context of this partnership, the US governments development agency USAID has negotiated cooperation agreements with the Indian ministry of finance. One of these has the declared goal to push back the use of cash in favor of digital payments in India and globally.On November 8, Indian prime minster Narendra Modi announced that the two largest denominations of banknotes could not be used for payments any more with almost immediate effect. Owners could only recoup their value by putting them into a bank account before the short grace period expired. The amount of cash that banks were allowed to pay out to individual customers was severely restricted. Almost half of Indians have no bank account and many do not even have a bank nearby. The economy is largely cash based. Thus, a severe shortage of cash ensued. Those who suffered the most were the poorest and most vulnerable. They had additional difficulty earning their meager living in the informal sector or paying for essential goods and services like food, medicine or hospitals. Chaos and fraud reigned well into December.
(Excerpt) Read more at norberthaering.de ...
Trust me on this one.
If the FedGov tried to nullify circulating currency,
tax law is the last thing anyone is going to be concerned with.
(And FWIW I am extremely well acquainted with current withholding regs.)
It will come (at first) in the form of systems that can support it. I do not necessarily think that all systems were or are being engineered with this in mind; but it will have the resulting effect.
I read about this system in the very, very late 1990’s. I saw this commercial in 2007. And we’re 9+ years past that.
Eventually, we’ll say goodbye to cashiers in a lot of stores and even self-checkout. This is worth 1 minute of your time (1:01 IIRC).
IBM RFID Commercial - The Future Market - paying without cash or checkout lines
https://www.youtube.com/watch?v=eob532iEpqk
How we get there, exactly, I do not know. But I do know, ALL of Bible Prophecy shall be fulfilled. I pray for President Trump to learn of such things and make the best decisions he can starting January 20 going forward.
Oops, my secondary ping failed
China is trying to set up a currency regime that competes with the US as the global reserve currency. Behind the scenes, the US has been trying to stop them, and this is a (misguided) tactic in that strategy.
Agreed...
I don't think it ever will, since cash enables an underground economy, and the ruling class depends on it as well.
Gold is the currency of freedom - easily transportable, rare, easily stored, can’t be printed or created, nearly uncontrollable by governments, and an ultimate check on governments’ stupid/ruinous economic policies.
I agree. I also have silver, Platinum, and Palladium in my save haven portfolio.
And some bitcoin, but much more PMs than BTC.
If you do zero withholding then you have to pay estimated taxes quarterly and you must have paid in no less than 90% of what you owe at the end of the year.
There would be blood in the streets if this insanity was attempted here.
I’ve been self-employed for over half of my working life.
I’m well aware.
"My name is Apu. How may I help you?"
This was CONVERTABLE to REAL money.
Paper?
Have you no chunks of metal to hold in your hand?
My safe haven portfolio is physical PMs.
I do have some royalty gold company shares, but those are stock trades, not gold per se.
Bookmark.
Not rubles comrade. Read my tagline.
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