Showing posts with label Global finance. Show all posts
Showing posts with label Global finance. Show all posts

Thursday, February 16, 2017

The Globalists Strike Back With A Major Push Toward A Cashless Society

Submitted by Michael SNyder via The Economic Collapse blog,


Their agenda may be on the rocks in the United States at the moment, but that doesn’t mean that the globalists are giving up.  In fact, a major push toward a cashless society is being made in the European Union right now.  Last May we learned that the 500 euro note is being completely eliminated, and just a few weeks ago the European Commission released a new “Action Plan” which instructs member states to explore “potential upper limits to cash payments”.  In the name of “fighting terrorism”, this “Action Plan” discusses the benefits of “prohibitions for cash payments above a specific threshold” and it says that those prohibitions should include “virtual currencies (such as BitCoin) and prepaid instruments (such as pre-paid credit cards) when they are used anonymously.”


This new document does not mention what an appropriate threshold would be for member states, but we do know that Spain already bans certain cash transactions above 2,500 euros, and Italy and France already ban cash transactions above 1,000 euros.


This is a perfect way to transition to a cashless society without creating too much of an uproar.  By setting a maximum legal level for cash transactions and slowly lowering it, in effect you can slowly but surely phase cash out without people understanding what is happening.


And there are many places in Europe where it is very difficult to even use cash at this point.  In Sweden, many banks no longer take or give out cash, and approximately 95 percent of all retail transactions are entirely cashless.  So even though Sweden has not officially banned cash, using cash is no longer practical in most situations.  In fact, many tourists are shocked to find out that they cannot even pay bus fare with cash.


So most of Europe is already moving in this direction, and now this new Action Plan is intended to accelerate the transition toward a cashless society.  The public is being told that these measures are being taken to fight money laundering and terrorism, but of course that is only a small part of the truth.  The following comes from the Anti-Media





The European Action Plan doesn’t mention a specific dollar amount for restrictions, but as expected, their reasoning for the move is to thwart money laundering and the financing of terrorism. Border checks between countries have already been bolstered to help implement these new standards on hard assets. Although these end goals are plausible, there are other clear motivations for governments to target paper money that aren’t as noble.



In a truly cashless society, governments would be able to track where everybody is and what everybody is doing all the time.  And in order to have access to the cashless system, people would have to comply with whatever requirements governments wanted to impose on their helpless populations.  The potential for tyranny that this would create would be off the charts, but very few people seem greatly alarmed by the move toward a cashless system all over the globe.


Even in the United States there are calls for a cashless system.  For example, the former chief economist for the IMF wrote an article for the Wall Street Journal not too long ago in which he recommended the elimination of the $100 bill





“There is little debate among law-enforcement agencies that paper currency, especially large notes such as the U.S. $100 bill, facilitates crime: racketeering, extortion, money laundering, drug and human trafficking, the corruption of public officials, not to mention terrorism. There are substitutes for cash—cryptocurrencies, uncut diamonds, gold coins, prepaid cards—but for many kinds of criminal transactions, cash is still king. It delivers absolute anonymity, portability, liquidity and near-universal acceptance.”



Over in Asia restrictions are being put on cash as well.  Legendary investor Jim Rogers commented on what is currently happening in India during one recent podcast





The time will come when you won’t be able to buy a cup of coffee without being traced, warns investment guru Jim Rogers. To control people, governments will increasingly seek to hunt down cash spending, he adds.



“Governments are always looking out for themselves first, and it’s the same old thing that has been going on for hundreds of years. The Indians recently did the same thing. They withdrew 86 percent of the currency in circulation, and they have now made it illegal to spend more than, I think it’s about $4,000 in any cash transaction. In France you cannot use more than, I think it’s a €1,000,” said Rogers in an interview with MacroVoices Podcast.



The reason why this is taking place all over the planet is because this is a global agenda.


The globalists ultimately plan to completely eliminate cash, and this will give them an unprecedented level of control over humanity.


One thing that many fear may someday be implemented is some form of microchip identification system.  In order to access the cashless grid, you would need your “ID chip” so that the system could positively identify you, but of course there are millions of people around the world that do not intend to get chipped under any circumstances.


In the old days, you would be labeled a “conspiracy theorist” just for suggesting that they may try to chip all of us one day, but in 2017 things have completely changed.


Just look at what is happening in Nevada.  A bill has been introduced in the state senate that would outlaw the “forced microchipping of people”





State Sen. Becky Harris said a bill to prohibit forced microchipping of people is not as far-fetched as it might seem, because it happens in some places around the world.



Senate Bill 109 would make it a Class C felony to require someone to be implanted with a radio frequency identifier, such as microchips placed in pets.



The idea for the bill came from a constituent, the Las Vegas Republican said.



If that sounds very strange to you, then you may not know that companies all around the globe are already starting to explore this type of technology.  For instance, a company in Belgium called NewFusion has actually begun to microchip their employees





In a move that could be lifted straight from science fiction, workers at a Belgian marketing firm are being offered the chance to have microchips implanted in their bodies.



The chips contain personal information and provide access to the company’s IT systems and headquarters, replacing existing ID cards.



The controversial devices raise questions about personal security and safety, including whether they may allow the movements of people with implants to be tracked.



Technology like this often starts off being “voluntary”, but then after enough people willingly accept it the transition to “mandatory” is not too difficult.


We live at one of the most critical moments in all of human history, and the globalists are certainly not going to lay down and die just because Donald Trump won the election.


The U.S. represents less than five percent of the population of the planet, and in most of the world the agenda of the globalists is on track and is rapidly advancing.


The globalists want a unified one world economy, a unified one world religion and a unified one world government.  The election of Donald Trump was a blow to the globalists, but it has also made them more dangerous, more ruthless and more determined than ever before.


And in case you think that using the term “globalists” is a bit strange, the truth is that even the New York Times is using it to describe the global elite and their global agenda.


We are in a life or death battle for the future of our society, and the globalists are never going to give up until they get what they want.  So now is not a time for complacency, because the very future of our country is at stake.

Sunday, January 22, 2017

Visualizing The Global War On Cash

There is a global push by lawmakers to eliminate the use of physical cash around the world. This movement is often referred to as “The War on Cash”, and there are three major players involved:





1. The Initiators


Who? Governments, central banks.



Why? The elimination of cash will make it easier to track all types of transactions – including those made by criminals.



2. The Enemy


Who? Criminals, terrorists



Why? Large denominations of bank notes make illegal transactions easier to perform, and increase anonymity.



3. The Crossfire


Who? Citizens



Why? The coercive elimination of physical cash will have potential repercussions on the economy and social liberties.







Is Cash Still King?


Cash has always been king – but starting in the late 1990s, the convenience of new technologies have helped make non-cash transactions to become more viable:


  • Online banking

  • Smartphones

  • Payment technologies

  • Encryption

By 2015, there were 426 billion cashless transactions worldwide – a 50% increase from five years before.


And today, there are multiple ways to pay digitally, including:


  • Online banking (Visa, Mastercard, Interac)

  • Smartphones (Apple Pay)

  • Intermediaries ( Paypal , Square)

  • Cryptocurrencies (Bitcoin)

The First Shots Fired


The success of these new technologies have prompted lawmakers to posit that all transactions should now be digital.


Here is their case for a cashless society:


Removing high denominations of bills from circulation makes it harder for terrorists, drug dealers, money launderers, and tax evaders.


  • $1 million in $100 bills weighs only one kilogram (2.2 lbs).

  • Criminals move $2 trillion per year around the world each year.

  • The U.S. $100 bill is the most popular note in the world, with 10 billion of them in circulation.

This also gives regulators more control over the economy.


  • More traceable money means higher tax revenues.

  • It means there is a third-party for all transactions.

  • Central banks can dictate interest rates that encourage (or discourage) spending to try to manage inflation. This includes ZIRP or NIRP policies.

Cashless transactions are faster and more efficient.


  • Banks would incur less costs by not having to handle cash.

  • It also makes compliance and reporting easier.

  • The “burden” of cash can be up to 1.5% of GDP, according to some experts.

But for this to be possible, they say that cash – especially large denomination bills – must be eliminated. After all, cash is still used for about 85% of all transactions worldwide.


A Declaration of War


Governments and central banks have moved swiftly in dozens of countries to start eliminating cash.


Some key examples of this? Australia, Singapore, Venezuela, the U.S., and the European Central Bank have all eliminated (or have proposed to eliminate) high denomination notes. Other countries like France, Sweden and Greece have targeted adding restrictions on the size of cash transactions, reducing the amount of ATMs in the countryside, or limiting the amount of cash that can be held outside of the banking system. Finally, some countries have taken things a full step further – South Korea aims to eliminate paper currency in its entirety by 2020.


But right now, the “War on Cash” can’t be mentioned without invoking images of day-long lineups in India. In November 2016, Indian Prime Minister Narendra Modi demonetized 500 and 1000 rupee notes, eliminating 86% of the country’s notes overnight. While Indians could theoretically exchange 500 and 1,000 rupee notes for higher denominations, it was only up to a limit of 4,000 rupees per person. Sums above that had to be routed through a bank account in a country where only 50% of Indians have such access.


The Hindu has reported that there have now been 112 reported deaths associated with the Indian demonetization. Some people have committed suicide, but most deaths come from elderly people waiting in bank queues for hours or days to exchange money.


Caught in the Crossfire


The shots fired by governments to fight its war on cash may have several unintended casualties:


1. Privacy


  • Cashless transactions would always include some intermediary or third-party.

  • Increased government access to personal transactions and records.

  • Certain types of transactions (gambling, etc.) could be barred or frozen by governments.

  • Decentralized cryptocurrency could be an alternative for such transactions

2. Savings


  • Savers could no longer have the individual freedom to store wealth “outside” of the system.

  • Eliminating cash makes negative interest rates (NIRP) a feasible option for policymakers.

  • A cashless society also means all savers would be “on the hook” for bank bail-in scenarios.

  • Savers would have limited abilities to react to extreme monetary events like deflation or inflation.

3. Human Rights


  • Rapid demonetization has violated people’s rights to life and food.

  • In India, removing the 500 and 1,000 rupee notes has caused multiple human tragedies, including patients being denied treatment and people not being able to afford food.

  • Demonetization also hurts people and small businesses that make their livelihoods in the informal sectors of the economy.

4. Cybersecurity


  • With all wealth stored digitally, the potential risk and impact of cybercrime increases.

  • Hacking or identity theft could destroy people’s entire life savings.

  • The cost of online data breaches is already expected to reach $2.1 trillion by 2019, according to Juniper Research.

As the War on Cash accelerates, many shots will be fired. The question is: who will take the majority of the damage?


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The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature, and use of money.