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Thursday, April 23, 2015

Banking's Public Enemy #1 -- Cash

When I make purchases, I use cash as much as humanly possible..

Groceries.. Gasoline..  A visit to Target or Wal-Mart..

It is Cash.. Cash.. Cash..  Always Cash!

I do this for a number of important reasons:

1)  My transactions are 100% private..  No one from afar can snoop on my personal business and see what I bought on what date and where
2)  Its the best way to keep a budget..  If I take $50 to me to a store, it means I'm not spending any more than $50 and nothing can tempt me to be overcome with impulse buying.

3)  The System doesn't want me or you to be using cash anymore, and anything that the System wants/wishes, I tend to go contrarian.

In fact not only does the System not want cash used by the populace but they seek to make a person feel criminal simply for using or possessing it..

For example recently customers of JPMorgan Chase who have savings deposit boxes have received an announcement that new policy is:

"You agree not to store any cash or coins other than those found to have a collectible value.”
That means no wad of $50 or $100 bills to have immediate access to in case or rather WHEN the economic system collapses, the banks shut down and you have little to no access to the money in your accounts..

As of last month, Chase has also instituted a new policy which restricts borrowers from using cash to make payments on credit cards, mortgages, equity lines, and auto loans..

Is it a fear of counterfeit money being used as payment?

Hardly..  More like getting people more and more accustomed to online banking, which is one of many ways these banks collect fees..   If you use cash to pay for everything, then why have a checking account or go online to submit bill payments..
That's additional revenue especially for people working paycheck to paycheck who don't have enough $$ to possess fee-waived checking accounts.

Chase is the leader when it comes to figuring out innovative ways to institute capital controls over its customers with policies already in place which mandate identification for cash deposits and ban cash being deposited into another person’s account.

In October 2013, Chase also banned international wire transfers while restricting cash activity for business customers (both deposits and withdrawals) to a $50,000 limit per statement cycle.

All this arrives on the back of comments by Citibank’s Willem Buiter, who recently advocated abolishing cash altogether in order to “solve the world’s central banks’ problem with negative interest rates”.
In addition, last month the Justice Department started ordering bank employees to consider calling the cops on customers who withdraw $5,000 dollars or more in a single transaction...

Overseas, HSBC bank is now interrogating its account holders in the UK on how they earn and spend their money as well as restricting large cash withdrawals for customers from £5000 upwards.

And in France, Finance Minister Michel Sapin hailed the introduction of measures set to come into force this September which will restrict French citizens from making cash payments over €1,000 euros.
As I stated before, efforts to impose restrictions on the use of cash by banks is an attack on anonymity and an example of how financial institutions are positioning themselves to handle the fallout of the next economic crash.

Decisions like this are not done amid a healthy recovering economy.

If you are smart, you will not only use cash to make purchases wherever possible but keep a Healthy cash reserve on you..  In a cereal box, a coffee can, an empty thermos...  
Where does not matter..  Its not like burglars will enter your premises and go, "Oh yes.. check the box of Cocoa Puffs for cash"

Sorry to be so blunt but it is a horrible shit Matrix-like System we are forced to live in where people in positions of true power want to spy on and know about Every Single aspect of your life..

Using credit cards and keeping your money in a bank is like inviting an NSA camera into your home..

Actually, it is More intrusive..
Do you really want someone somewhere with a couple mouse clicks to see on Valentines' Day you went to X Drugstore to buy an enema, condoms and a box of chocolate?  

Or that on such and such a date, you went to Y restaurant where your bill came to $42.15 then you spent $15 at Z Gasoline, etc etc..

Who's business is that?!!

 And you can either go along (the Grasshopper) or make contingencies (the Ant)