Thursday, November 5, 2015
And most know the last few years the economic policies of the Fed in particular have led to an ongoing, never ending War on Savers
Even fewer truly understand or accept the fact that during the last few years, there has been an ongoing, never-will-end war on Cash.
Cash is a government's worst enemy: It allows the person using it to possess a level of privacy and anonymity to ones actions and movements that one does not have using a credit card or check
Yesterday I used a debit card at a fast food restaurant to buy a burger and drink, so forevermore there's a record that on November 4th, 2015, I visited Fast Food Joint X located at 123 ABC St. in Nowhereville, USA and spent $3.18
The total currency (actual cash in the form of bills and coins) in the US financial system is a little over $1.36 trillion.
When you include digital money sitting in short-term accounts and long-term bank accounts and CDs then you’re talking about roughly $10 trillion in “money” in the financial system.
In contrast, the money in the US stock market (equity shares in publicly traded companies) is over $20 trillion in size.
The US bond market i.e. money that has been lent to corporations, municipal Governments, State Governments, and the Federal Government, is almost twice this at $38 trillion.
Then you have unregulated over the counter derivatives traded between the big banks and corporations valued north of $220 trillion.
So while actual physical currency of bills and coins equals $1.36 Trillion, there is another $338 Trillion in digital, computerized binary zeros and ones that keep the entire fake economy mechanisms spinning and spinning so the top 1% can keep profiting..
For this reason, the Central Banks around the world are slowly pushing to implement reforms that will either tax physical cash or ban it all together.
The first round of this involved implementing NIRP (negative interest rate policy), which is a form of stealth tax as it charges depositors for sitting in cash.
In France, they just banned any transaction over €1,000 Euros from using physical cash. Spain has already banned transactions over €2,500. Uruguay has banned transactions over $5,000.
In addition some public services are no longer accepting cash as payments.
Last summer, London buses stopped accepting money. To pay your fare, you now have to wave either a prepaid Transport for London Oyster card or a contactless payment bank card at a receiver.
It used to be if you used your credit card for very small purchases, stores would charge you a fee because they had to pay it every time a transaction went through..
Now businesses are more than happy to encourage people to use their cards no matter how small the charge.. $1 here.. 75cents there..
Notice at self-checkouts at Wal Mart, supermarkets and other places, most do not accept cash as payment? No accident..
And if/when there is a crash and you want to escape to another country, if all your life savings is digitalized, then someone in a position of power can press a button and essentially you have zero access, or its doled out to small daily increments like at an ATM...
But when the world is 'safe' and all appears normal, few to none think on this or worry..
Just as the System desires
Posted by Susquehanna at Thursday, November 05, 2015