Cashless Society Will Make Bank Runs Impossible

[singular_me]

Cashless Society Will Make Bank Runs Impossible as Nations Begin to Collapse
Tuesday 5th May 2015


https://www.youtube.com/watch?v=6t4wIz_-kNE

[Ares]

Which is why they are pushing so hard for a cashless society. Digital 1's and 0's are much easier to create and supply the masses.

I like digital currency, which is a form of cashless. With that said, it's also not under banker control, nor can it be created at will to meet a demand.

[Ponce]

Nothing that I haven't written about years ago, and now just because someone else talks about is a WOWWWWWWWWWWWWW. And what about food? only an extension of control over you and me.....did I say "me?".

V

[Carl]

The key to understanding is found in the history of money, which extends well beyond the stupid smart people's stunted memory that has it originating in the early 1990's, when credit first gained acceptance as a form of payment via the innovation in electronic banking and the 'debit card' which made credit a viable and standard use medium of exchange.

1100 - 1854
Gold, Silver = Money
Tally Sticks/Paper = A Proxy For Money
Credit = Debt

1787 - 1834
Gold, Silver = Money
Paper = A Proxy For Money
Credit = Debt

1834 - 1933
Gold = Money
Paper = A Proxy For Money
Credit = Debt

1933 - 1990
Paper gets Promoted = Money (Fiat)
Credit = Debt

1990 - Present
Paper = Money (Fiat)
Credit = Debt + A Proxy For Money

In Progress
Credit/Debt gets Promoted = Money = Perpetual Debt

*A Proxy currency can be used in place of the money, but money is still owed with its use.

The paper Federal Reserve Note is, by government decree and law, the money. it was put into circulation to replace the U.S. notes that promised to pay gold (and in 1933, the gold), that were already in circulation as money. Banks already held a supply of money that belonged to their depositors and even today, every deposit account is representative of the money that is supposed to be in supply. (That's why the Fed counts deposits as being part of the money supply, even though there is no money in them.)

The FRNs in circulation is not determined by loans, it is determined by public demand for the notes, and while you may request notes with a loan, they are not loaned into circulation. Anyone with a deposit account can get FRNs because they are the Legal Tender Money and deposit accounts represent that Money being held for depositors. Fractional Reserve Banking means that banks are only required to hold a small portion of Money in reserve to meet customer demands for that money. Demand deposit accounts represent, both in law and by contract, their obligation to Give You Your Legal Tender Money Upon Demand. Every deposit account is bank DEBT. And what makes deposit accounts bank debt, is the legal tender law, which defines the money, the medium that banks are legally obligated to maintain on you behalf. And, unlike bank generated credit, FRNs and US coin are Your Legal Tender Money, not theirs. Get it? Your money, their DEBT.

*The abolition of cash means the banks get out of the debt they owe to their depositors, while turning the digital markers for that debt into 'the money'.

[Glass]

Our treasury publishes a break down of the money supply. It details government money (tax payer debt), private money (mortgagee debt/business debt/consumer credit). It also details circulating money - bank notes. The discrepency between bank notes and private money/public money is enormous. We are a small economy compared to US but its billions (govt) compare to trillions (private) to tens of millions (actual cash).

No correlation between physical money in circulation and actual debt levels.

[singular_me]

Denmark moves step closer to being a cashless country
Thursday 7th May 2015

The Danish government has proposed getting rid of the obligation for selected retailers to accept payment in cash, moving the country closer to a “cashless” economy.

Nearly a third of the Danish population uses MobilePay, a smartphone application for transferring money to other phones and shops, and Sweden, Denmark and Finland lead the European Union in credit card payments per inhabitant.

The Danish government said as of next year, businesses such as clothing retailers, petrol stations and restaurants should no longer be legally-bound to accept cash.’
http://www.telegraph.co.uk/finance/economics/11586778/Denmark-moves-step-closer-to-being-a-cashless-country.html

[Carl]

Ban cash, credit becomes the money. The Federal Reserve, along with Fractional Reserve Banking, become instantly obsolete. If the ban on cash extends globally, all central banking, the ECB, the BIS, the IMF, all of it would be rendered obsolete as well. No government anywhere will have to borrow or tax to pay their bills ever again, as the very act of writing and depositing a government check creates the 'payment in full'.

Of course, if they want digital/credit money to retain any semblance of value, then they would also have to ban a bank's ability to create credit, and they may have to include Wall Street in that credit creation ban as well.

[Neuro]

Ban cash, credit becomes the money. The Federal Reserve, along with Fractional Reserve Banking, become instantly obsolete. If the ban on cash extends globally, all central banking, the ECB, the BIS, the IMF, all of it would be rendered obsolete as well. No government anywhere will have to borrow or tax to pay their bills ever again, as the very act of writing and depositing a government check creates the 'payment in full'.

Of course, if they want digital/credit money to retain any semblance of value, then they would also have to ban a bank's ability to create credit, and they may have to include Wall Street in that credit creation ban as well.
Why don't you think they ban the governments right to pay without backing?

[Carl]

Why don't you think they ban the governments right to pay without backing? What do you mean?

This is the backing.
http://morgenthaucenter.org/wp-content/uploads/2014/11/military-600x350.jpg

[Jewboo]

https://randazza.files.wordpress.com/2008/12/not-sure.png


Our ID Card will be how we electronically buy everything...our new convenient money.


:)

[Ares]

https://randazza.files.wordpress.com/2008/12/not-sure.png


Our ID Card will be how we electronically buy everything...our new convenient money.


:)

LOL Not Sure... Classic


https://www.youtube.com/watch?v=wM1P7GMnd38

Link to video: https://www.youtube.com/watch?v=wM1P7GMnd38

[Shami-Amourae]

This is why cryptocurrencies like Bitcoin still have a place.

The establishment will probably introduce a cryptocurrnecy that's centrally controlled and trackable. We will need another to be like or actually be Bitcoin to do commerce with the Black and Grey economies.

[Neuro]

What do you mean?

This is the backing.
http://morgenthaucenter.org/wp-content/uploads/2014/11/military-600x350.jpg
It is actually payback for governments refusing to play banksters games...

[singular_me]

Hard rock Download festival is first to abandon cash as it forces music fans to carry virtual money on plastic ‘dog tags’
Sunday 10th May 2015

Download is set to become the first major UK festival to go cashless in a bid to reduce queues and cut crime.

Organisers of the rock festival, with headliners Slipknot, Muse and Kiss, have announced plans to give people the payment-enabled wristbands to use instead of cash.

Powered by technology from German firm YouChip, the ‘Dog Tags’ are designed for to speed up queuing at food, drinks and merchandise stalls.’

http://www.dailymail.co.uk/news/article-3074012/Let-s-hope-don-t-lost-mud-Hard-rock-Download-festival-abandon-cash-forces-music-fans-carry-virtual-money-plastic-dog-tags.html

[Carl]

It is actually payback for governments refusing to play banksters games...
I would hardly consider banks cutting their own throats with this de-dollarization scheme, a bankster payback.

The whole fractional reserve banking system is based upon Legal Tender as the money and the debts incurred by government borrowing.

That all ends with the removal of cash from the system.

[singular_me]

may 14 2015
A former Bank of England economist has called for a total ban on cash and its replacement with credit accounts controlled directly by governments.

In a column for the London Telegraph, fund manager Jim Leaviss all but advocates economic fascism as a means of enabling authorities to respond to financial crises better by implementing a “cashless society.”

“Forcing everyone to spend only by electronic means from an account held at a government-run bank would give the authorities far better tools to deal with recessions and economic booms,” states the introduction to Leaviss’ article.

If you think that sounds authoritarian enough, it gets worse. Leaviss then suggests that your hard earned money be “monitored, or even directly controlled by the government,” with authorities then working to “encourage us to spend more when the economy slows, or spend less when it is overheated
http://www.prisonplanet.com/economist-ban-cash-and-force-everyone-to-have-a-government-controlled-bank-account.html

How to end boom and bust: make cash illegal
Comment: Forcing everyone to spend only by electronic means from an account held at a government-run bank would give the authorities far better tools to deal with recessions and economic booms, writes Jim Leaviss
http://www.telegraph.co.uk/finance/personalfinance/comment/11602399/Ban-cash-end-boom-and-bust.html#disqus_thread

[palani]

This is why cryptocurrencies like Bitcoin still have a place.

The establishment will probably introduce a cryptocurrnecy that's centrally controlled and trackable. We will need another to be like or actually be Bitcoin to do commerce with the Black and Grey economies.

Bitcoins are not fungible. They have numbers and those numbers may be tracked and if engaged in illegal functions whoever holds that bitcoin is culpable.

http://cointelegraph.com/news/113897/bitcoin-violates-the-principle-of-fungibility


In light of recent events within the bitcoin industry, namely the Evolution Marketplace going up in a burst of flames with customer money, it has become clear that cryptocurrency deviates from traditional money in more ways than initially meet the eye.

Bitcoin, among a slate of other cryptocurrencies, violates the principle of fungibility within money - that is, each coin's transaction history differentiates them from every other bitcoin in circulation. With the collapse of the hidden Evolution Marketplace, these coins have now been tainted, and services are wilfully denying their deposit into wallets held by exchange businesses.

Bitcoin fungibility has been called into question and it is becoming glaringly obvious that this poses a threat to the stability and long-term usage of such currency. Exchanges want nothing to do with these stolen funds, and therefore, lessen their value in relation to otherwise identical cryptocurrency units.

“Fungibility is the property of a good or a commodity whose individual units are capable of mutual substitution. That is, it is the property of essences or goods which are capable of being substituted in place of one another."

- Merriam-Webster

[Neuro]

I would hardly consider banks cutting their own throats with this de-dollarization scheme, a bankster payback.

The whole fractional reserve banking system is based upon Legal Tender as the money and the debts incurred by government borrowing.

That all ends with the removal of cash from the system.
I am trying to wrap my head around your argument. I just can't. Why do banks need physical cash for fractional reserve banking to work? Why doesn't it work with digital cash?

[singular_me]

go paperless or we will tax you
---------------
‘The globalists’ war on cash is continuing as Australia is set to actually begin taxing physical monetary holdings – in other words, savings.

According to Martin Armstrong of financial advisory firm Armstrong Economics, the compulsory savings tax to be implemented by the continent Down Under is part of what he and others have described as the “new age of Economic Totalitarianism.”

“Australia will be the first to introduce a compulsory tax on savings. This is the ultimate Marxist state, for now anyone with spare cash is the enemy of the conservative Tony Abbott government,” Armstrong wrote.’

Read more: Australia to begin implementing global-elitist economic system by directly confiscating citizens' savings
http://www.naturalnews.com/049696_Australia_taxes_savings_account.html
and
http://www.zerohedge.com/news/2015-05-04/war-cash-australia-leads-new-age-economic-totalitarianism

[Carl]

I am trying to wrap my head around your argument. I just can't. Why do banks need physical cash for fractional reserve banking to work? Why doesn't it work with digital cash?

Here is a little piece that may help: Banning Cash - Part II (http://forum.theamericanbulletin.com/topic/59/banning-cash-part-ii)

More stuff at: Random Thoughts (http://carl-random-thoughts.blogspot.com/)

[Carl]

I am trying to wrap my head around your argument. I just can't. Why do banks need physical cash for fractional reserve banking to work? Why doesn't it work with digital cash?
It's akin to gold and paper dollars promising to pay gold. They created more promises to pay gold than they had gold to cover. Solution: Ban Gold.

There are cash dollars and credit promising to pay cash dollars. They created more credit promising to pay cash dollars than they can ever hope to cover. Solution: Ban Cash Dollars.

Banks have to buy cash dollars from the Fed, they don't get them for free.

[expat4ever]

You think the riots in Furguson and Baltimore were bad. Try and ban cash and watch what the hookers and drug dealers do to the cities.

Then you have the US gov that at the very least turns a blind eye to the fact that tons of heroin and cocain come into this country on a regular basis. You seldom hear about any major busts. Only the small timers who they can put in jail and make more money off the system.
Ban cash and all that money goes away. No money, no more crime.
Then what? Police go door to door to monitor your activities to see if you can become a criminal so they can stay in business? No more assett forfeiture?
Anything is possible but I just dont see it happening in our lifetime.

[Silver Rocket Bitches!]

Ban cash and watch a whole slew of scrip go underground. Bullish for metals too along with cigarettes and other barter items.

[singular_me]

Leading German Keynesian Economist Calls For Cash Ban
Monday 18th May 2015

At this stage, a sane person might be tempted to call it a day on the monetary experiments, especially considering that at this point, the limits have been reached. That is, there are literally no more assets to buy and rates have hit the effective lower bound where rational actors will eschew bank deposits in favor of the mattress.

But not so fast, say folks like Citi’s Willem Buiter and economist Ken Rogoff: the world could always ban cash because if you eliminate physical currency and force people to use a debit card linked to a government controlled bank account for all transactions, you can effectively centrally plan everything

Consumers not spending? No problem. Just tax their excess account balance. Economy overheating? Again, no problem. Raise the interest paid on account holdings to encourage people to stop spending. So with Citi, Harvard, and Denmark all onboard, we bring you the latest call for a cashless society, this time from German economist and member of the German Council Of Economic Experts Peter Bofinger.’

http://www.zerohedge.com/news/2015-05-16/cash-ban-calls-continue-german-economist-says-bills-and-coins-obsolete

[singular_me]

Why Europe Will Lead the Charge to Eliminate Cash – the Next Step in a Global Meltdown
Thursday 21st May 2015


reminds me of the babel tower
http://www.davidicke.com/wordpress/wp-content/uploads/2015/05/european-parliament.jpg

Europe will lead the world into Economic Totalitarianism because government is now desperate to retain the euro. If the euro collapses, so will Brussels. The government exists solely because of the euro.

The key is the fatal design of the euro. Failure to consolidate the debts of all individual member states has been the worst possible mistake perhaps ever made in this post-Great Depression era of New Economics, where government lawyers assume they can just write a law and it will be followed, as if they were some new modern dictator.’
http://armstrongeconomics.com/archives/30738

============

‘Calls by various mainstream economists to ban cash transactions seem to be getting ever more louder.

Bills and coins account for about 10% of M2 monetary aggregates (currency plus very liquid bank deposits) in the US and the Eurozone. Presumably the goal of this policy is to bring this percentage down to zero. In other words, eliminate your right to keep your purchasing power in paper currency.

By forcing people and companies to convert their paper money into bank deposits, the hope is that they can be persuaded (coerced?) to spend that money rather than save it because those deposits will carry considerable costs (negative interest rates and/or fees).’
http://www.zerohedge.com/news/2015-05-19/cashless-society

[singular_me]

nightmare for everybody
--------------
A cashless society could be a nightmare for the homeless
Friday 29th May 2015

News of Denmark’s imminent move toward a cashless society has been growing in recent weeks, with the main driver being a move to abandon the law requiring stores to accept physical cash.

Closer to home, a report last week from the Payments Council put cashless payments almost on a par with those for cash for the first time in the UK, and estimates that the majority of retail transactions will be done without hard currency as soon as 2016 – mainly driven by the younger shopper, for whom cashless and mobile payments are ingrained.

Practically speaking, the arguments for the move to cashless focus on the security element (less cash to steal on-premise and in tills for example) as well as the fact that aforementioned sheer adoption rates of contactless and mobile payments demonstrate an appetite for the ease of use and functionality involved.’

http://www.telegraph.co.uk/news/shopping-and-consumer-news/11634608/A-cashless-society-could-be-a-nightmare-for-the-homeless.html

[EE_]

nightmare for everybody
--------------
A cashless society could be a nightmare for the homeless
Friday 29th May 2015

News of Denmark’s imminent move toward a cashless society has been growing in recent weeks, with the main driver being a move to abandon the law requiring stores to accept physical cash.

Closer to home, a report last week from the Payments Council put cashless payments almost on a par with those for cash for the first time in the UK, and estimates that the majority of retail transactions will be done without hard currency as soon as 2016 – mainly driven by the younger shopper, for whom cashless and mobile payments are ingrained.

Practically speaking, the arguments for the move to cashless focus on the security element (less cash to steal on-premise and in tills for example) as well as the fact that aforementioned sheer adoption rates of contactless and mobile payments demonstrate an appetite for the ease of use and functionality involved.’

http://www.telegraph.co.uk/news/shopping-and-consumer-news/11634608/A-cashless-society-could-be-a-nightmare-for-the-homeless.html

(more cash to steal by computer hackers for example)

There sure is a big push to go digital cash right now. Apple Pay, Android Pay, Google Pay.
It seems whenever it's talked about, there's no mention of a connection of these apps with the Bankers. Make no mistake, this is not Apple or Google behind these apps...it's the bankers! Who's working for who?

[singular_me]

Now that I think of, the gold most people own will also be digital.... that doesnt bode well.
--------------

Pushing You Into a Cashless Society
Wednesday 3rd June 2015

‘One of the most effective means the elite use today to get their way and push a particular agenda is to make it “hip, swinging and very, very cool”. Another way is to simply tell you what is obsolete and “out dated”. Who wants to be “behind the times”? Certainly not someone who is looking for the next “really cool” gadget! No, this particular person wants to be on the “cutting edge” of the “next big thing”!

Enter the banking cabal and their desire to have total and absolute control of your life through your banking account and your means of transacting business.

Think my “tin foil hat” is screwed on a little tight? Well, how about this gem that was released earlier today in England.’
http://readynutrition.com/resources/35533_01062015/


Push for 'cashless society' by closing bank branches (25May15)

https://www.youtube.com/watch?v=i-Ai1QhCtQA


ALSO
Trendies Ready for Ultimate Wearable: ‘Chip Implanted in Their Skin Used for Payments’
‘As SHTF has previously noted, the likelihood of a forced RFID implant under the guise of a martial law pandemic emergency might be a little too obvious, as far as future tyranny goes.

Before it comes to that, it seems plenty of people will be voluntarily subjecting themselves to cattle-like status, by jumping at the chance to ditch the inconvenience of a wallet and get a “smarter” payment system that can be embedded under their skin.’
http://www.shtfplan.com/headline-news/trendies-ready-for-ultimate-wearable-chip-implanted-in-their-skin-used-for-payments_06012015


ALSO
‘The transfer to cashless transactions means the construction of global “concentration camp” supervised by bankers. All transactions will be monitored by electronic means. Cashless account holders will have their behavior and even thoughts under control. In case of “deviations” accounts will be blocked. In practice it will be a death sentence. The 100% cashless world will turn into a concentration camp with prisoners sent to the otherworld without gas chambers and executions.’
http://www.strategic-culture.org/news/2015/06/02/gratuitous-democracy-or-banking-concentration-camp.html

[Serpo]

http://www.jsmineset.com/wp-content/uploads/2015/06/clip_image002_thumb2.jpg (http://www.jsmineset.com/wp-content/uploads/2015/06/clip_image0022.jpg)

[singular_me]

A Move Closer to a Global Cashless Society: Apple Pay Coming to Britain this Summer
Tuesday 9th June 2015

‘This summer, Apple is set to introduce its “contactless payment technology” Apple Pay to Britain, shortly after a secret meeting was reported to have taken place in London to “end cash”. The iPhone is already fitted with a wireless microchip which can be used to pay in a similar manner to contactless cards, with The Telegraph suggesting Apple Pay could be rolled out in the UK as soon as August. Apple’s website promotes Apple Pay as:

Your wallet. Without the wallet. Paying in stores or within apps has never been easier. Gone are the days of searching for your wallet. The wasted moments finding the right card. Now payments happen with a single touch. Apple Pay will change how you make purchases with breakthrough contactless payment technology and unique security features built right into the devices you have with you every day. So you can use your iPhone to pay in a simple, secure, and private way.

Despite sounding like an easier and more convenient way to purchase goods and services, many around the world have voiced fears over the move towards a cashless society. Apple Pay is one step closer towards a global cashless society, where cash is banned and every transaction is tracked by authorities.’
more
http://www.activistpost.com/2015/06/a-move-closer-to-global-cashless.html

[singular_me]

just a small glitch... a glimpse at what lies ahead

----------------------------------------------
06-12-2015
Read more: Chaos at Download Festival as 'useless' new cashless payment system crashes leaving music fans unable to pay for food or drink
http://www.dailymail.co.uk/news/article-3119945/Chaos-Download-Festival-useless-new-cashless-payment-crashes-leaving-music-fans-unable-pay-food-drink.html

[singular_me]

coming sooner than you think... did trump say anything about it? can america be great again if going cashless?
======

War On Cash Intensifies: Citibank To Stop Accepting Cash At Some Branches
http://www.activistpost.com/2016/11/war-cash-intensifies-citibank-stop-accepting-cash-branches.html


Indian Economy Grinds To A Halt After Cash-Ban: 'Faith In System Shaken'
18 November 2016 GMT

‘Amid scenes of panic across India, following PM Modi’s shock decision to withdraw high-value bills in the middle of the sowing and wedding season, Reuters reports the move, aimed at cracking down on the shadow economy, has brought India’s cash economy to a virtual standstill. With over 90% of all transactions done in cash, money flows in and out of the black-and-white system… until now, as Devangshu Datta exclaims, “The system works because everybody believes that those pieces of paper will be accepted by everybody else… This move has shaken that trust.”

Farmers have been left stranded as traders have no cash to pay for their produce, while millions of Indians lined up outside banks and post offices for the ninth day to exchange old banknotes or withdraw rationed money from their accounts.’...........

http://www.zerohedge.com/news/2016-11-17/indian-economy-grinds-halt-after-cash-ban-demonetisation-has-shaken-our-faith-moneta


https://www.youtube.com/watch?v=5BaPyOgdphU

[Joshua01]

https://www.youtube.com/watch?v=5BaPyOgdphU
Damn, who's manning the Help Desk?

[singular_me]

more about india where they cant even buy gold anymore becoz of the cash crunch. It is all about synchronicity.

Money = time device, controllers are always WAY ahead of the game and thus turn competition into a deadly race. Good luck fixing this.
================


https://www.youtube.com/watch?v=ywDFZGJV_hM

[expat4ever]

The world cant go cashless. India cant even go cashless. They may have less cash in circulation after all this but they wont go cashless because not everyone can. How do you go cashless when everyone isnt connected to the net or have a cell phone or computer?
If I want to travel to say India or Africa or many south pacific islands I will need cash to spend while there. Even China with well over a billion people probably still has 1/2 the country with no cell phone or internet. Go out to rural china and buy some tea from the peasent farmer and tell him you are going to send him some computer digits for his labor.

[singular_me]

hello expat: dont foresee that a cashless society will happen overnight BUT there will be a cash underground economy developing as a result. Most populations live in/around big cities so that is where it is going to be harder though. If they try in india there must be a reason.

[Carl]

Those "digital dollars" people think they're using, is not the nation's legal tender, it's not money. It is 100% bankster generated debt based PRIVATE CREDIT, controlled by the banks. What their PRIVATE CREDIT currently represents is a bank's obligation to pay legal tender money upon demand, their PRIVATE CREDIT represents their debt to us, which they cannot pay, thus the reason for wanting cash banned.

Cash is Public Money.

Credit is Private Debt.

MONEY (http://carl-random-thoughts.blogspot.com/2016/02/money.html)

[old steel]

Bill Bonner gets it.



https://www.youtube.com/watch?v=jaHNS8q1IVg



Banks shut down, ATM's don't work, the just in time supply chain stops so no food to grocery stores, no fuel to gas stations.

Anything that is open will be cash only for sales.

Credit collapse.

Don't need to be a rocket scientist to know what will happen next.




https://www.youtube.com/watch?v=VJEZh9PKr8s

[crimethink]

The world cant go cashless. India cant even go cashless. They may have less cash in circulation after all this but they wont go cashless because not everyone can. How do you go cashless when everyone isnt connected to the net or have a cell phone or computer?
If I want to travel to say India or Africa or many south pacific islands I will need cash to spend while there. Even China with well over a billion people probably still has 1/2 the country with no cell phone or internet. Go out to rural china and buy some tea from the peasent farmer and tell him you are going to send him some computer digits for his labor.

(((They))) aim to bring the Third World onboard before us, actually.

http://www.voanews.com/a/developing-world-cashless/3160685.html

https://iq.intel.com/third-world-iou/

Mobile phones are effectively cheaper than stringing copper in the Third World. And (((they))) get the Babylon Control Net set up immediately.

[singular_me]

thats another trick to force people depositing off the books $$, and tax them to death

===============

Cash Crackdown Escalates: India May Impose 60% Tax On 'Unaccounted' Deposits and Curbs On Gold Holdings
27 November 2016 GMT
‘As a result, the government is taking even more aggressive steps to part savers with their allegedly “laundered” cash, and as the Indian Express reports, Mody’s cabinet discussed amending laws to levy close to 60% income tax on unaccounted deposits in banks above a threshold post demonetisation of high-denomination currency notes.

“The move comes amid banks reporting over Rs 21,000 crore being deposited in zero-balance Jan Dhan accounts in two weeks after the 500 and 1,000 rupee notes were banned, which authorities apprehend may be the laundered black money.”‘
http://www.zerohedge.com/news/2016-11-25/cash-crackdown-escalates-india-may-impose-60-tax-unaccounted-deposits-curbs-gold-hol

----------------
India, Uruguay, Australia and now Spain. The Minister of Finance and Public Service, Cristóbal Montoro has reportedly just announced “anticipated measures in order to ‘reduce the use of cash.’
http://www.silverdoctors.com/headlines/finance-news/breaking-news-on-the-war-on-cash-now-spain/
====================
older thread
The Central Banks Indicated Their Next Move, Ban Cash, Raise Rates and Crash It All
http://gold-silver.us/forum/showthread.php?93716-Next-Moves-Ban-Cash-Raise-Rates-and-Crash-It-All&highlight=cash

[Joshua01]

Does this mean I can't get IT support now??

[singular_me]

the latest...

===============

Well who could have seen this coming? Just as we noted, the slippery slope towards full government control in a cash-less society is where Indian PM Modi is heading following his chaos-creating demonetization efforts of the last two weeks. While massive opposition protests are planned tomorrow, Modi remains indignant, as Reuters reports, “we can gradually move from a less-cash society to a cashless society…this is the chance for you to enter the digital world.”

Read more: India’s Modi Admits Plan Shifting Nation To ‘Cashless Society’
http://www.zerohedge.com/news/2016-11-27/indias-modi-admits-plan-shifting-nation-cashless-society


==================


Greece Is Not India? Hellenic Banks Plan 'Tax On Cash Withdrawals' To Combat Black Economy
29 November 2016 GMT
http://www.zerohedge.com/news/2016-11-28/greece-not-india-hellenic-banks-plan-tax-cash-withdrawals-combat-black-economy

[expat4ever]

if they ban cash why bother with banks? Historically banks have been a safe place to store excess cash and gold or other forms of money. If everything is just a computer digit what is the banks purpose?

[singular_me]

there is no date at the link but we shouldnt believe that indians remain submissive, this is of course not shown on TV here, in the west
===================================

New World Order: Millions Revolt Against A Cashless Society In India
http://d38zt8ehae1tnt.cloudfront.net/images/news/700_0efc5d21515c016b50e9c0ac153f1727.jpg?v=1481498 070
http://www.disclose.tv/news/new_world_order_millions_revolt_against_a_cashless _society_in_india/136848

[palani]

there is no date at the link but we shouldnt believe that indians remain submissive, this is of course not shown on TV here, in the west
===================================

New World Order: Millions Revolt Against A Cashless Society In India
http://d38zt8ehae1tnt.cloudfront.net/images/news/700_0efc5d21515c016b50e9c0ac153f1727.jpg?v=1481498 070
http://www.disclose.tv/news/new_world_order_millions_revolt_against_a_cashless _society_in_india/136848

I'm afraid they have it wrong. All those people are looking for an outhouse. There is only one in all of India.

[Joshua01]

I'm afraid they have it wrong. All those people are looking for an outhouse. There is only one in all of India.


...and it's currently occupied ;)

[singular_me]

good one Palani, thanks for the ;D :D

[singular_me]

from davos with love...


BREAKING: Davos Elite Plan U.S. Cashless Society - Complete Enslavement To The Banks
World Alternative Media


https://www.youtube.com/watch?v=O_ZTDIJt7Eo

[monty]

from davos with love...


BREAKING: Davos Elite Plan U.S. Cashless Society - Complete Enslavement To The Banks
World Alternative Media


https://www.youtube.com/watch?v=O_ZTDIJt7Eo

Published on Jan 23, 2017Josh Sigurdson breaks down the recent push at the Davos, Switzerland World Economic Forum by Nobel Prize winning professor Joseph Stiglitz to create a complete cashless society within the United States in the near future.

As we recently reported on, the U.S. M0 is in a down spiral in a way trends have never shown before. M0 is cash and coin in circulation and it seems that the number in circulation has been drying up fast since 2015.

Since India has recently taken 86% of physical cash and coin out of circulation while waging a war on black/free markets, the rest of the world seems to think that it's alright to do so in their country as well.

Well, Joseph Stiglitz claimed at Davos that it's time for the U.S. to go cashless as well and this means absolute enslavement by the banks.

When your money's in the bank, it's no longer yours, it's the banks. So if all transactions go through the bank digitally, that means your money is never yours. But of course the globalist elites use the excuse of "stopping corruption" which anyone with an IQ greater than room temperature can see through.

With bail-in regimes being written into legislation across the board, this also poses a massive risk of people's money just being swept up to pay off debt and bringing them to their knees, begging the state for money which creates a perpetual circle of servitude.
On top of all of this, all transactions will be transparent, destroying any remnants of privacy.

This is an incredibly dangerous agenda being played out in front of us. Either stand now, or forever be ruled by the banks.

[EE_]

I keep hoping for a major internet crash/hack, where no one can access bank accounts, credit card, atm's and debit cards. Just a couple weeks being down will wake up the world to the importance of cash money.

[EE_]

..................

[singular_me]

as always, insightful updates by the corbett report


https://www.youtube.com/watch?v=mA3Nt5bLrFs



https://www.youtube.com/watch?v=cYQ8WiyJ2AU&t=1s

[monty]

European Union roadmap to cashless society - Jan. 23, 2017

http://ec.europa.eu/smart-regulation/roadmaps/docs/plan_2016_028_cash_restrictions_en.pdf?inf_contact _key=af936ce2a5eb99ccfe116561691d84c7004e0f36756ad 79aa04a897929e1a03e

[crimethink]

You can't spell "demonetization" without DEMON.

St. John is going to be proven a true prophet soon.

[singular_me]

ultimately, they know that automation and mega computers are going to massively take over the jobs and they want to prevent people from organizing an underground economy

that is the bottom line. The NWO always targets many birds with the same rock

MORE ON EU DEMONETIZATION
http://www.activistost.com/2017/02/cash-no-longer-king-europe-moves-begin-elimination-paper-money.html

CASHLESS AND CHIPPED
Want A Job In The Future? Get Ready To Become A Cyborg — Companies Have Begun Implanting Employees With RFID Chips
http://www.activistpost.com/2017/02/want-job-future-get-ready-become-cyborg-companies-begun-implanting-employees-rfid-chips.html



European Union roadmap to cashless society - Jan. 23, 2017

http://ec.europa.eu/smart-regulation/roadmaps/docs/plan_2016_028_cash_restrictions_en.pdf?inf_contact _key=af936ce2a5eb99ccfe116561691d84c7004e0f36756ad 79aa04a897929e1a03e

[midnight rambler]

Europe accelerates move to eliminate paper money -

http://www.zerohedge.com/news/2017-02-10/cash-no-longer-king-europe-accelerates-move-begin-elimination-paper-money

[Carl]

European Union roadmap to cashless society - Jan. 23, 2017

http://ec.europa.eu/smart-regulation/roadmaps/docs/plan_2016_028_cash_restrictions_en.pdf?inf_contact _key=af936ce2a5eb99ccfe116561691d84c7004e0f36756ad 79aa04a897929e1a03e

What does a 'ban on cash' really mean to the banks? It means 'DEBT JUBILEE' for the banks.

A deposit account represents a bank debt obligation to the account holder and what the bank owes is cash money. Ban/outlaw cash and the banks are relieved of their debt obligations to the account holders. Within the U.S., a ban on cash would represent a gift of about $11-Trillion to the banks. To figure out how much of a gift european banks will receive with the banning of cash, simply total their deposit account debt obligations and that amount will be your gift to them. They get a debt jubilee, and you get screwed. Now isn't that special.....

[singular_me]

still thinking that russia is against the NWO ???
-----------------------
Russia considers introducing tax on cash transactions
By Andrew Cheetham on 22 February 2017 GMT

According to the newspaper, the ministries are considering banning the payment of salaries in cash, limiting large cash purchases or introducing a cash tax.

Officials want to limit cash purchases of real estate, cars, and luxury items, but the cut-off price is being discussed. The economists are also looking at examples of India and Azerbaijan that limit not only cash transactions, but also cash withdrawals.

In January, the Russian media reported the government is considering setting a single cash purchase limit at 500,000 rubles (about $8,750 at the current exchange rate). Minister of Finance Anton Siluanov backed the initiative without specifying the limit.

At the moment, Russians still prefer cash transactions. In the first nine months of 2016 holders of bank cards withdrew 19 trillion rubles ($330 billion), but only spent 8.7 trillion ($150 billion) to pay for goods and services using plastic.

The share of cash in circulation is about nine percent of Russia’s Gross Domestic Product, according to the Central Bank........

https://www.rt.com/business/378126-russia-cash-transaction-limit/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome

[Horn]

https://www.youtube.com/watch?v=cYQ8WiyJ2AU&t=1s

the Indian .gov no doubt gave everyone counterfeit bills in exchange for their 500 and 1000 Rupee notes.

[Joshua01]

Does the fact that USD FRNs are backed by nothing but thin air make them counterfeit too?
the Indian .gov no doubt gave everyone counterfeit bills in exchange for their 500 and 1000 Rupee notes.

[singular_me]

the migrant invasion and the EU debt are going to accelerate the step toward cashless

=============================
‘Euro states owe the European Central Bank (ECB) a staggering €1trillion as they teeter on the verge of bankruptcy amid warnings a debt bubble is on the horizon.

Analysts condemned the “flawed economics of this reckless [EU] experiment” and said the ECB faces a rude awakening as states crumble under the burden of debt.

Market conditions in Eurozone are showing signs of a return to the conditions that sparked the 2011 European debt crisis which first reared its head in 2009.

The ECB uses a system called Target2 to assess levels of debt and the bank’s data appears to show it is only a matter of time before the current system breaks.’

Read more: Eurozone Turmoil: Spain, Italy and Greece owe massive debt of €1 TRILLION to ECB
http://www.express.co.uk/news/world/781518/Eurozone-finance-economy-trillion-debt-ECB-Spain-Italy-Portugal-Greece

[Joshua01]

Good, let them go broke as they import more and more invaders. They can't suffer enough pain as far as I'm concerned. As bad as it is in the US, Europe has gone full on retard with their open borders policies and you reap what you sow in this world!
the migrant invasion and the EU debt are going to accelerate the step toward cashless

=============================
‘Euro states owe the European Central Bank (ECB) a staggering €1trillion as they teeter on the verge of bankruptcy amid warnings a debt bubble is on the horizon.

Analysts condemned the “flawed economics of this reckless [EU] experiment” and said the ECB faces a rude awakening as states crumble under the burden of debt.

Market conditions in Eurozone are showing signs of a return to the conditions that sparked the 2011 European debt crisis which first reared its head in 2009.

The ECB uses a system called Target2 to assess levels of debt and the bank’s data appears to show it is only a matter of time before the current system breaks.’

Read more: Eurozone Turmoil: Spain, Italy and Greece owe massive debt of €1 TRILLION to ECB
http://www.express.co.uk/news/world/781518/Eurozone-finance-economy-trillion-debt-ECB-Spain-Italy-Portugal-Greece

[Neuro]

Good, let them go broke as they import more and more invaders. They can't suffer enough pain as far as I'm concerned. As bad as it is in the US, Europe has gone full on retard with their open borders policies and you reap what you sow in this world!

The game has been maintained by the Federal Reserve buying Euro debt, and the ECB buying US debt. Thus bankrupt Belgium (Brussels, EU headquarters) appears to be holding a great part of us debt. In reality the central Banks are printing money to prop up the spending like drunk sailors

[Joshua01]

The difference between the Central bank and drunken sailors is sailors stop spending when they run out of money
The game has been maintained by the Federal Reserve buying Euro debt, and the ECB buying US debt. Thus bankrupt Belgium (Brussels, EU headquarters) appears to be holding a great part of us debt. In reality the central Banks are printing money to prop up the spending like drunk sailors

[singular_me]

not only ((they)) make us believe that the tech age will generate abundance but then create "cashless hunger games"... doesnt add up
================
IMF Issue Working Paper on Eliminating Cash
11 April 2017 GMT

The International Monetary Fund (IMF) in Washington has published a Working Paper on “de-cashing” the economies and the implications. This paper clearly demonstrates that this is the direction we are headed into. It provides advice to governments who want to join in the latest thing – abolishing cash. IMF-Analyst Alexei Kireyev recommends in his conclusions:

Although some countries most likely will de-cash in a few years, going completely cashless should be phased in steps. The de-cashing process could build on the initial and largely uncontested steps, such as the phasing out of large denomination bills, the placement of ceilings on cash transactions, and the reporting of cash moves across the borders. Further steps could include creating economic incentives to reduce the use of cash in transactions, simplifying the opening and use of transferrable deposits, and further computerizing the financial system.’

https://www.armstrongeconomics.com/world-news/taxes/imf-issue-working-paper-on-eliminating-cash/

[Horn]

There is nothing in there about tax payments received in gold.

Don't they still want to hoard all the gold or are they planning it all ends up as space junk?

[singular_me]

here is why a global crash is coming, because the vast majority will not give up
==========

1 in 3 Europeans ready to dump cash ahead of digital future
Published time: 26 Apr, 2017 12:04

Over a third of Europeans would be happy to abandon cash and rely on electronic payments if they could, according to a study by ING bank released on Wednesday.

The survey of almost 15,000 respondents showed that over half used less cash over the last year, with 78 percent wanting to use less cash in the next 12 month.


Half of those surveyed were sure they would do without cash for at least a week with 29 percent thinking they could manage without hard currency indefinitely.--->>>> At the same time, three-quarters of Europeans say they’ll never completely give up physical money. Notably, respondents from Britain were the least willing to go cashless.

https://www.rt.com/business/386197-europe-wants-swap-cash-digital/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome

[EE_]

One major hack, or government law against digital currencies could crash them over night. On the other hand, I think the government has always been behind bitcoin and the others as a diabolical plan to take us digital. People might reject a digital currency if forced on them, but if you let them think it's their's and they're stickin' it to the man by using them, they will beg for it. The iPhone is an example of the best and worst of technology. Everyone ran to buy these fancy tracking devices. They got ya, and they're about to get you again.

PS: you guys that own digital currencies, they are flying high today, when do you sell?

[crimethink]

One major hack, or government law against digital currencies could crash them over night. On the other hand, I think the government has always been behind bitcoin and the others as a diabolical plan to take us digital. People might reject a digital currency if forced on them, but if you let them think it's their's and they're stickin' it to the man by using them, they will beg for it. The iPhone is an example of the best and worst of technology. Everyone ran to buy these fancy tracking devices. They got ya, and they're about to get you again.

PS: you guys that own digital currencies, they are flying high today, when do you sell?

If I were an Elder of Zion, my currency program against the Goyim would be two-fold:

1) I would, as you suggest, outlaw digital currencies except those issued by our Rothschild Banking Syndicate subsidiaries (e.g., the "Federal" Reserve);
2) about a month later, after a few high-profile arrests of Bitcoin, etc., promoters, I would circulate paper currency infected with some nasties, weaponized Anthrax, for example.

Within weeks, cash usage would drop to single-digits.

[Jewboo]

http://allnewspipeline.com/images/EMPradius1.jpg

EMP and everything digital goes poof.

[Joshua01]

http://allnewspipeline.com/images/EMPradius1.jpg

EMP and everything digital goes poof.


Without CNN to watch on the teevee who are we going to follow? Who will lead us??

[monty]

Problem is the people lack the will . . .
"Congressional consent not required, any State can walk away from the Federal Reserve and reinstitute gold and silver as "Money" " per Dr. Edwin Vieira Jr.
http://bit.ly/2fuNFkp.

And secure it with the revitalized "Well Regulated State Militia". #2ndAmendment
http://bit.ly/2f4hUOp

https://pbs.twimg.com/profile_images/797703024277909504/AAhSfdrk_bigger.jpg
(https://mobile.twitter.com/CONSMILITIA)ConsMilitia @CONSMILITIA (https://mobile.twitter.com/CONSMILITIA)·Jul 24 (https://mobile.twitter.com/CONSMILITIA/status/889560821252198400) Replying to @_thymes @pecunium and 2 others
(https://mobile.twitter.com/CONSMILITIA/status/889560821252198400/people)
“well regulated Militia" (3 WORDS) is a Militia that is "organiz[ed], arm[ed], and disciplin[ed]" ART I, § 8, CL 16 according to law.

https://twitter.com/CONSMILITIA/status/889560280631582720

[Horn]

Looks like they're introducing it as "even more secure cash withdrawl".

Here now they are not permitting cash withdrawls at any atm without the associated cellphone chip somewhere in proximity of the card.

This of course makes u also pack your cellphone active and online wherever you go.

[monty]

Harvard Professor and chess grandmaster pushes for cashless future.

There is a method to prevent it, reinstute a gold and silver backed State issued alternative currency. http://bit.ly/2fuNFkp

First you will need to revitalize the well regulated Milita of the several States to prevent being Gadafied. http://bit.ly/2f4hUOp

https://www.theautomaticearth.com/2017/08/rogoff-orwell-and-kafka/
Harvard professor and chess grandmaster Kenneth Rogoff has said some pretty out there stuff before, in his role as self-appointed crusader against cash, but apparently he’s not done yet. In fact, he might just be getting started. This time around he sounds like a crossover between George Orwell and Franz Kafka, with a serving of ‘theater of the absurd’ on top. Rogoff wants to give central banks total control over your lives. They must decide what you do with your money. First and foremost, they must make it impossible for you to save your money from their disastrous policies, so they are free to create more mayhem.

Prepare For Negative Interest Rates In The Next Recession Says Top Economist (http://www.telegraph.co.uk/business/2017/08/13/prepare-negative-interest-rates-next-recession-says-top-economist/)
Negative interest rates will be needed in the next major recession or financial crisis, and central banks should do more to prepare the ground for such policies, according to leading economist Kenneth Rogoff. Quantitative easing is not as effective a tonic as cutting rates to below zero, he believes. Central banks around the world turned to money creation in the credit crunch to stimulate the economy when interest rates were already at rock bottom.



Central banks create recessions and crises. Not people, and not economies. Central banks. The next recession, which is inevitable, that’s the one thing Rogoff has right, will come when the bubbles in housing, stocks, bonds, etc., created by central banks’ QE, ZIRP, NIRP, start to pop. And there’s nothing worse than giving central banks even more tools for creating crises. We should take away the tools they have now, not hand them more sledgehammers.

In a new paper published in the Journal of Economic Perspectives the professor of economics at Harvard University argues that central banks should start preparing now to find ways to cut rates to below zero so they are not caught out when the next recession strikes. Traditionally economists have assumed that cutting rates into negative territory would risk pushing savers to take their money out of banks and stuff the cash – metaphorically or possibly literally – under their mattress. As electronic transfers become the standard way of paying for purchases, Mr Rogoff believes this is a diminishing risk.



Risk? What risk? The risk of people doing with their money what they choose to do, doing what they think is best? Of people trying to save their savings from being burned by central bank policies? What kind of mind comes up with this nonsense? Who is Ken Rogoff to think that he knows better what you should do with the money you worked for than you yourself do? You’d be a fool not to protect you hard-earned earnings from negative interest rates. Rogoff therefore seems intent on creating nations full of fools.

“It makes sense not to wait until the next financial crisis to develop plans and, in any event, it is time for economists to stop pretending that implementing effective negative rates is as difficult today as it seemed in Keynes time”, he said. The growth of electronic payment systems and the increasing marginalisation of cash in legal transactions creates a much smoother path to negative rate policy today than even two decades ago. Countries can scrap larger denomination notes to reduce the likelihood of cash being held in substantial quantities, he suggests. This is also a potentially practical idea because cash tends now to be used largely for only small transactions. Law enforcement officials may also back the idea to cut down on money laundering and tax evasion.



What makes sense is to not create crises. What does not make sense is negative interest rates. Ultra low interest rates have already destroyed trillions in savings and pensions, and now Rogoff effectively says central banks should take this a step further, and target whatever it is you have left. This is insane megalomania. It’s communism in its worst possible form. Oh, and it’s outright theft. Of a form that’s far more insidious and harmful than money laundering.

The key consequence from an economic point of view is that forcing savers to keep cash in an electronic format would make it easier to levy a negative interest rate. “With today’s ultra-low policy interest rates – inching up in the United States and still slightly negative in the eurozone and Japan – it is sobering to ask what major central banks will do should another major prolonged global recession come any time soon,” he said, noting that the Fed cut rates by an average of 5.5 percentage points in the nine recessions since the mid-1950s, something which is impossible at the current low rate of interest, unless negative rates become an option. That would be substantially better than trying to use QE or forward guidance as central bankers have attempted in recent years.



Forcing savers to keep cash in an electronic format would make it easier to steal it. Central banks could dictate that you lose 5% of your money every year. Or at least, that’s what they think. They want you to spend your money, and they got just the way to force you to do that. Or so they think. Well, go ask Abe and Kuroda how that’s worked out in Japan lately. What actually happens is that when you start stealing people’s money, savings etc., they become afraid of losing the rest too, so they start looking for ways to save their savings, not spend them.

In that sense, Rogoff’s suggestions amount to terror, to terrorizing people into doing things that go against their very survival instincts. What gets people to spend money is if they don’t feel terror, when they see their money and savings grow by a few percent per year. That is the exact opposite of what Rogoff wants to do. When people ‘sit’ on their savings, they do so for good reasons. What do you think has happened to Japan?
“Alternative monetary policy instruments such as forward guidance and quantitative easing offer some theoretical promise for addressing the zero bound,” he said, in the paper which is titled ‘Dealing with Monetary Paralysis at the Zero Bound’. “But these policies have now been deployed for some years – in the case of Japan, for more than two decades – and at least so far, they have not convincingly shown an ability to decisively overcome the problems posed by the zero bound.”

No wait, Rogoff is right second time: indeed “they have not convincingly shown an ability to decisively overcome the problems”. Because they’re terribly wrong. Theoretical promise? That’s all? But that means you’re just experimenting with people’s lives and wellbeing. Who gave you that right?

It’s high time, even if it’s very late in the game, to take political power away from central banks- and thereby from the banks that own them. There is nothing worse for our societies than letting these people decide what you can and cannot do with our money. Because as long as they have that power, they will seek to expand it. To prop up their member banks at your expense. And there is only one possible end result: you’ll be left with nothing. They want it all.

Until we take that power away from them, please don’t talk to me about democracy. Talk to me about Orwell and Kafka instead.

https://3r8md7174doo44lgpk3kou79-wpengine.netdna-ssl.com/wp-content/uploads/2017/08/InterestRatesSince2008.png

[Dachsie]

This will be the new money rising from the ashes that THEY are creating right now.

This is the cover of January 9, 1988, Rothschild owned and controlled The Economist magazine.


https://tse1.mm.bing.net/th?id=OIP.H7rOiVLy8tZTYXTOSLX0FQEsDk&pid=15.1&P=0&w=216&h=166

[Ares]

This will be the new money rising from the ashes that THEY are creating right now.

This is the cover of January 9, 1988, Rothschild owned and controlled The Economist magazine.


https://tse1.mm.bing.net/th?id=OIP.H7rOiVLy8tZTYXTOSLX0FQEsDk&pid=15.1&P=0&w=216&h=166

Because they don't already control the issuance of money in just about every nation?

I fail to see why having everyone us the "Phoenix" would aid in their goal of monetary domination of which they already have.

[crimethink]

The Mark, which will be required to buy or sell, is coming, and there is NO stopping it.

if you want a vision of buying and selling within a generation, look at Sweden now. That will be reality worldwide before 30 years has past.

Just accept that it's coming, and act accordingly, especially letting people know God warned us through St. John nearly 2000 years ago, nearly as long before the technology to make it happen was conceived of by human minds. And that Jesus Christ is the only life-preserver to survive what may come.