Below are a just a few articles that should be read carefully. They highlight the coming war on cash, that we have been discussing for years.
The stated purpose of govt and their trial balloon flyers is to thwart crime, corruption, and terrorism, but the real goal is to force all economic transactions through bank accounts where they can be tracked, service charged, taxed, and confiscated without your consent. Larry Summers, the academic cheerleader for rescinding Glass-Steagall, is also pushing for negative interest rates, which Europe and Japan have already implemented. It makes perfect sense that he would want to prevent people from avoiding the tax on their bank accounts.
Since savers and businesses have decided to hoard cash or buy back their stock, instead of buying trinkets and capital equipment, because they know the economy is a charade, the Ivory Tower theoreticians think they can force people to spend by charging you to keep money in the bank. Central banks in the US and Japan have kept rates near zero for eight and 25 years, respectively, without stimulating the economy. So, what would one expect from bureaucrats with NO practical working experience?
Govt’s around the world are repeating the same mistakes that have brought down great societies throughout history. The biggest mistakes are centered around actions that crush the economy in order to preserve the jobs of career politicians and their perks and power. As the actions become increasingly desperate, they also become increasingly obvious, even when couched as being good for the people. Unfortunately, when the people finally realize the emperor has no clothes it will be too late to make proactive changes. However, the more truth the people discover, as painful as it will be, the more digging they will do, and the more open they will be to new ways of thinking. There are solutions, and there is a way for these solutions to be tested against the lessons of history. We will discuss these capabilities in a coming post.
The current façade of fighting terrorists and money laundering by eliminating large denominated currencies in Europe and the US is the same propaganda used to sell NSA abuses, getting access to cell phones, lying about globull warming , and virtually everything that comes from the establishment. THE OBJECTIVE OF ALL OF THESE LIES IS TO COLLECT MORE TAXES, AND TO TRACK DOWN MONEY TO FEED THE BLACK HOLE OF GOVT.
As we have documented and the NSA has proven by their inability to thwart even one terrorist event, even though they are monitoring, storing, and data mining everyone’s personal data; the NSA is about finding money for a broke govt, and dirt on powerful people who won’t go along with their sick plans. Through job- killing taxes and reduced consumer spending caused by negative interest rates, govt is shooting itself in the head with a bazooka and using citizens as a shield, thinking it will minimize the damage.
All of these desperate acts by govt are driving the capital needed for growth off the grid, and into non- performing assets, which will continue to degrade the economy and the tax base, and continue the death spiral until the great reset finally takes place. The only question that remains is what will rise out of the ashes – more freedom and capitalism, or totalitarian control?