Zerohedge: The war on cash is proliferating globally. It appears that the private members of the world’s banking cartels are increasingly joining the fun, even if it means trampling on the rights of their customers.
h/t Adrian
Zerohedge: The war on cash is proliferating globally. It appears that the private members of the world’s banking cartels are increasingly joining the fun, even if it means trampling on the rights of their customers.
h/t Adrian
The ‘arrogance of wealth’ overreaching to exact a breaking point.
Cheers
Hans Rupprecht, Commander in Chief
1st Saint Nicolaas Army
Army Group ‘True North’
Price of gold up nearly 2% at the moment. Nice to see my investment in physical gold increasing in value but at the same time the economic reasons behind this is never a good sign.
Once citizens give up the use of cash, governments will be able to decide what you are and are not allowed to purchase on an individual basis.
The transaction will no longer simply be between the buyer and the seller, the government will be an intermediary, and tempted to reverse the presumption of liberty.
They’ll begin presuming prohibition, meaning each citizen will only be allowed to buy those goods and services that are on the approved list.
“Power corrupts, absolute power corrupts absolutely.”- Lord Acton
When you go to negative interest rates, where do you go from there ? Even with 0% interest rates there are administration and other fees that will eventually eliminate you savings. Without compound interest how can you save or build up a retirement nest egg ? I see this as the final nudge to open the door for increased socialism. Socialism can not succeed for any length of time when competing with capitalism, but when capitalism is destroyed in the free world, well, let’s just say that the UN and the IMF seem to be on target for their dreams of world domination. Perhaps they did learn their lesson in the crash of 2008. That being to double down for the final push off the cliff. If they can’t control the world through the IPCC and Agenda 21 then the next best thing is a controlled demolition of the economy through the banking system. My tinfoil hat is on but not comfortable. Tell me where I’m wrong so I can take it off again.
Once cash eliminated, no more bank runs, no more children making money shovelling driveways, lemonades stands etc without permits from government for tax purposes etc. I can see why governments and especially the banks are keen on this. Banks can expect a triplefold in transactions fees charged for using your own money.
Invest in gold …sure … silver as well but IMO any land is the best investment preferably prime agricultural. I don’t have a lot, and even less since the last big fall. I don’t trust anyone with what I have but try to spread the risk.
Tea Party time!
The only problem with land is that it is neither portable or easily exchanged. It is a great investment but it doesn’t make for very good currency.
without cash inflation becomes invisible.
DEMACRATIS TAX & SPENDUS Obama belongs to this speices
Silver and Gold, rather than being conventional investments are real money, easily exchanged, mobile and easy to hide (as opposed to land). Keynes on Steroids will not end well despite there being little visible inflation while deflation persists (where cash is normally King). Destroying savings, forcing investors to chase yield until equities crash – all to allow governments to spend and borrow at record levels.
What Peterj said.
Bitcoin!
Careful with that one buddy …..
The electronic world is the governments friend …..
I would have to agree with DSV. Bitcoin will only survive until government sees it as a threat. Virtual wealth can disappear, virtually overnight.
Can’t eat gold , can’t hide land…..(both are really good actually) but if you want to keep and protect both you need guns bullets, medical supplies, food sources, water….TP …you know the basics..and a way to stay warm.
At a recent gun show everyone was paying in cash. I use cash almost exclusively and bought lots of ammo. Ammo has been my best performing investment and I foresee a day when ammo becomes a form of currency. Lasts decades if properly stired, useful for elimination of unwanted pests and meets all the requirements for a robust currency.
Gold has numerous industrial uses alrhough platinum is more versatile given its catelytic potential. Ammo is immediately usable in emergency situations.