Guest Post by Martin Armstrong
The hunt for money is intensifying with the aid of banks no less. India was the balloon. They simply canceled the currency with no notice and imposed a 90% tax on anyone holding the high denomination notes. This is how the world governments operate. The first bail-in was done in Cyprus. We were even contacted by members of the government trying to push back against the EU. We provided the solution, but the government did what the EU wanted because this was a test. If they got away with it in Cyprus, then the “bail-in” would become a contagion. The politicians lied, as usual, and said that policy would NEVER be applied in Europe. It is now standard around the world. We warned, Cyprus, then Greece – who would be next.
Now following India, Citibank is refusing to accept ANY cash in some of its branches in Australia. Banks support eliminating cash for that means they eliminate bank runs. Government benefits for they can simply seize your money without any notice whatsoever. The ONLY way to get off the grid for serious money is to run into equities. The only way to hedge broker risk is to take delivery of the share certificates and do not leave them in street name.
Meanwhile, the father of NEGATIVE interest rates and the great supporter of bankers, the establishment, socialism, and anti-democratic process is Larry Summers. He wrote in the left-wing newspaper Washington Post that it is time to kill the $100 bill. The Washington Post endorsed Hillary and had the audacity to write: “The Democratic nominee is not the lesser of two evils. She is a choice Americans can be proud of. (Adriana Usero, Julio Negron/The Washington Post)”(see hillary-clinton-for-president-the-washington-post) This endorsement demonstrated how biased the Washington Post really is and how they are conspiring against the people of the United States for the establishment no less the left-wing that supports a deeply rooted Marxist agenda. This is why they published this piece by Larry Summers.
I am becoming deeply concerned that the United States is headed into its version of a communist revolution under the label “progressive” and the bankers, who Larry Summers has always supported, will be used as the scapegoat for Wall Street and the “rich” who have to be stripped of their liberty and their money for the “good of the people” as they always say. The United States does not look like it will be a country we can recognized by 2032 if we can even make it past 2024.
The entire purpose of eliminating cash is to strip us of our assets, liberty, and to prevent bank runs. The youth, who have been brainwashed by Bernie Sanders and people like Elizabeth Warren, will turn against the older generation and enslave them if at all possible. This threatens our future with outright civil war. They will not be satisfied until then destroy the freedom of their opposition.
They can’t really stop everyone from ‘rolling through’ a red light at a traffic intersection, but with the elimination of cash they have absolute control over us in the areas that matter most. Soon, you won’t be able to pay young Johnny 30 in cash for cutting your lawn, or tip the paper boy at Christmas.
One day soon, we will wake up one morning (they usually chose a Monday for this) to find that the banks are closed, your debit card, Credit cards, EBT cards won’t work – all so THEY can make changes to ‘the system’. When THEY reopen the banking system it’ll be an entirely different world ! You have been warned.
Seem president elect is already backing down on promises made while running for election. Also, these POP UP ADDS on this site REALLY PISS ME OFF.
Download ghostery and the ads will be gone. Easy peasy.
You’re being told the President elect is backing down by the MSM and everyone knows they would never lie, twist or distort what he says and does.
No need to look what was actually said or done, if the MSM claims it it must be true.
Yeah, cash will be terminated. Sure. I’ll even bet he has a model that predicts it.
What a douchebag.
If you’re referring to me as ‘douchebag’ STUCKY I’m not offended. I don’t have a model that predicts anything. But the elimination of cash (of most cash) is an inevitably for cash strapped and bankrupted governments. So is nationalizing people’s retirement savings into ‘SAFE’ U.S. treasuries. Time to stop the linear thinking.
NOT you!!! I have absolutely no beef with you.
I’m referring to Armstrong.
Of course, the elites WANT a cashless society. There are few better ways to establish total control over people.
But, it’s a pipe-dream.
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Why We’ll Never Get a Cashless Society
The End of Money, a new book from Wired contributing editor David Wolman, is ostensibly about the twilight of cash and its replacement with a panoply of more efficient means of exchange. (Think transfers via NFC on smartphones and biometric wallets.) But Wolman is such a thorough reporter of the subject that it’s possible to finish his (excellent, highly readable) book and come away with a conclusion opposite his own.
For one thing, Wolman notes, national identity is strongly tied to having a physical currency. That’s why, for example, dollar bills are so ugly. The entire point of U.S. dollars, which are common currency the world over, is to inspire trust in the bank that issued them, which is ultimately the U.S. government. Without that magical thinking, they’re just paper.
This drive to make dollar bills look consistent across time is so powerful that even though the Federal government in 2008 lost a lawsuit that should force it to create bills in different sizes so that Americans with visual disabilities can tell them apart, it has so far failed to act.
Then there’s the ultimate benefit of cash – its ability to enable off-the-books transactions. In a culture as paranoid about surveillance as our own, can you even imagine the outcry if we were to move to means of exchange that were always traceable?
Wolman piles up any number of arguments against cash. There’s the (substantial) expense of producing and distributing it. The cost to small businesses of accepting it. The fact that US $100 bills are the predominant way that organized criminals of every stripe move money about.
The problem with all of the arguments for a cashless society is that they’re rational, and our attachment to cash is not. This might be less true in nations that have already given up their national currency to become part of a regional currency block (the EU, and countries like El Salvador that have adopted the dollar as a national currency), but as long as there are financial superpowers whose paper money is covered with what amounts to propaganda for the strength of their central banks, cash is here to stay.
https://www.technologyreview.com/s/427088/why-well-never-get-a-cashless-society/
I doubt it. The lure of a cashless society is to strong for a tyrant to ignore. Time is all that is needed.
Since we are in the Federal Reserve system and the money is their issuance and belongs to them I doubt we can do anything to stop them eliminating cash if that it their decision.
It is prophesied that this will happen, therefore it will happen,
Rev 13:15-17 And it was given to it to give breath to the image of the beast, that the image of the beast should also speak, and should cause that as many as should not do homage to the image of the beast should be killed.
And it causes all, the small and the great, and the rich and the poor, and the free and the bondmen, that they should give them a mark upon their right hand or upon their forehead;
and that no one should be able to buy or sell save he that had the mark, the name of the beast, or the number of its name. (Darby)
The setup for this has been going on for a very, very long time. It has finally reached a point that people are beginning to become aware of it after the fact now that it is too late to offer resistance.
I was listening to a preacher back in 2000 who said that God would take all the money out of America.
He said that Americans were so materialistic, they had garages full of stuff and even rented storage spaces to store more stuff.
He said Americans trust too much in their money, they don’t know God can take the money out of here and send it somewhere else.
I focused on the part about sending it somewhere else, I never thought about money in the form of cash disappearing.
For a supposedly brilliant guy, Armstrong should learn how to write. Does anyone know WTF his enigmatic last sentence means?
“They will not be satisfied until then destroy the freedom of their opposition.”
Probably means he relies too much on his spell and grammar checker and too little on proof reading.
Most people who are brilliant in math and physics are lousy at language, and vice versa. Armstrong is typical. I used to work for an engineering company. Yikes. You had to decipher what they wrote. That did not mean the engineers were stupid.
And you don’t get a degree in physics by being stupid.
Its not just this author, writer if you can call him that. I am amazed, incredulous, sickened, disgusted, awestruck, at the shining examples of illiteracy in the media today. I read one particularly awful example of writing this morning, on this site. Actually every news site that I have visited today, mangles the English language. I had to read one paragraph four times in order to determine the writers meaning.
Go ahead fuckers! Withdrawal all your poisonous script. There is one thing you still can’t control and by god I’ll fucking demand you pay me with these. Get your damn dolly’s manned up.
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Piss me off more and I’ll go lower:
Your creditors will probably demand the same from you, along with the tax man and motor vehicle licensing people and such.
That’s fine, I will gladly slam down 8 pound sacks of dollar coins and they will take it or the debt will be null and void. I have tendered payment in legal tender coin, if they refuse it too bad for them.
Not necessarily true.People will occasionally try to pay tax bills or large electric bills with pennies as a protest.They have been refused & it has been upheld.
“They” have much more power than we do because of divide & conquer.
Minor coins (<1$) yes….dollar coins no. They can't prevent those.
So you believe they can control paper money but you don’t believe they can control coin? So many questions……..
I’m a special kind of stupid so you’ll have to explain that to me.
The banks have nothing to do with coin in the U.S. They can get them from the mint and distribute them but they CANNOT create them.
Article 1 section 8 clause 5….ONLY the U.S. Treasury can make coins. It is the only loophole left. The Federal Reserve can’t mint coins by law. They have to buy them dollar for dollar from the mint. Not like the FRN’s where they buy them from the BEP for roughly 6 cents per note.
I understand that. I should have been more specific. If they are going to use the excuse that handling cash is too onerous for the banks (BS, I know), you can bet that the banks won’t be handling coin either. Matter of fact, there won’t be any need for teller windows or vaults at banks anymore either.
Most employers pay by direct deposit and even if you get a paper check you need a bank to accept it and they’ll be under no obligation to “pay” you in anything other than digital ones and zeros.
Seems to me you’ll either accept digital fiat in return for your labors or you’ll quit or work for free or accept some other trade.
I don’t think they’ll go cashless while Trump is in office but he’s still an unproven quantity. It won’t solve the issue of being paid by your employer but lay in a supply of sovereign silver coins while you can. Premiums have come down considerably and availability is good. Thirty five percent nickels and 90% dimes are my favorite and are worth $0.92 and $1.18 respectively @ $16.35/oz.
If what you speculate happens the banks will be operating ultra virus.
Per McCulloch v. Maryland 1819; Congress may charter a bank to assist it in carrying out it’s monetary powers (namely to distribute and help the gov borrow money). (spoiler: this case makes the Fed constitutional).
The legal tender cases of the mid/late 1800’s stipulated that paper currency HAS TO be linked (redeemable) in current coin.
In Veazie Bank v. Fenno 1869: “When these bills (of credit/ bank notes) shall be made convertible into coin, at the will of the holder”
Take these points and tie them together. Congress NOT the Fed was given the plenary monetary powers in this country. Congress has an obligation to provide you and I a medium of exchange created by it per article 1 section 8 clause 2 or 5. The Fed is really congresses bitch (they just don’t know it). The one catch is DID YOU DEMAND IT? (At the will of the holder (you)).
If this shit goes down and they try to get rid of all cash or coin….the courts will override or we are done as a nation. The law of the jungle rulz
The goal of the end of cash is to bring all wealth under their watch and control. It’s fucking nirvana for ’em! Yard sale proceeds, used car and every other private party transaction now taxable and penalty enabled! Think of how that will control gun/ammo sales. There’s no way they are going to get that close and allow coinage to usurp their wet dream.
CONgress abdicated nearly every right and responsibility it ever had and being the cynical, pessimistic fuck that I am, I’m not expecting that to suddenly reverse course. DEMAND, much like DESERVE will have little to do with it unless Trump really is on our side.
Thanks for the comment too. I learned something new.
This is the Oligarch’s Demonic wet dream and they will use the Useful Idiots to pull it off someday. We must hold this off during our lives at all costs…all costs because when it happens, people will become the Elite’s cattle. I asked Adam Putnam (Fla Sec of Ag) what he thought about this. He said anyone that tries to chip me like a cow will get cut (vote for Adam for Gov in 2018). Mr Armstrong, thank you for many such fine articles.
1. Idle question: Could you pay cash for a house, would there be an advantage to that?
Reply: It isn’t a good idea, they would investigate you to death.
2. Regarding India: Mexico called in all the old currency and coins. Folks were given a period of time to go to the bank and exchange their holdings. After the said period, that money was worthless. After she died, my uncle discovered a stash of old cash his wife had hidden. It was all junk by then.
3. At some point, they will investigate your ass if you try to use cash. Later, cash will all turn into Confederate dollars.
Going cashless in ‘merica’ won’t be easy and certainly there will be violence. But the cash lock down has begun I do believe. Just try to cash a check issued to you for $ 3,500.00 dollars or more – the bank will enter you into a federal data base that contains suspected criminals, money laundered & terrorists. $ 3,500.00 is the new $ 10,000.00
I think we will get a taste of what is to come when the next financial crises hits. In 2008 / 2009 the central banks (and governments) bailed out the banking system. In the next crises who will bail out the central banks. The obvious choice is the IMF. But the conditions imposed by the IMF may be draconian. My gut feeling is that we’ll soon have a front row seat at a banquet of consiquences.
Some of the big banks are already being a pain in the rear to deal with even for small transactions.
My mom never keeps cash around.I have a part time guy who I trust enough to be around mom’s house so he does odd jobs for her.He is an old drunk who does not have any id,much less a bank account.Mom would write him a check for the $25-35 payment & I would cash it for him & then just deposit it in my account the next time I was at the bank.Mom & I both bank at Regions Bank.All of a sudden one day they refused to accept the check unless the guy was with me and he had id to prove who he was.”But the last names are the same,it’s your bank so if it is fraudulent you have recourse,and it’s only for $25.”No matter,the answer was the same.
Another thing they have recently done is insist on exact match ups of names on the account with who the check is made to.Mom’s name is Susan Marie Smith Jones.Her account is titled as Susan S. Jones.She goes by Marie and has a couple of elderly tenants who have been making their checks out to Marie Jones for 15-20 years.All of a sudden they are refusing checks that are not made out properly.
My dad banks at Bank of America.I recently made a deposit for him which included in excess of $1500 cash.They asked for my id and ran my license thru a scanner like you see at convenience stores to check age for alcohol/tobacco purchases.I asked the lady was that because it was such a large amount of cash?”No,it could have only been for $10 but if we do not know you we have to ask for id.”