Monday, June 22, 2015

IT’S REAL: The War on Cash Enters Final Phase

JUNE 21, 2015 BY 21WIRE

21st Century Wire says…

Forcing everyone to spend only by electronic means from an account held at a (government-linked) bank gives technocrats far better tools of social, political and economic control over individuals and communities. This is the war against cash.

“Governments, at least modern western governments, have always hated cash transactions. Cash is private, and cash is hard to tax. So politicians trump up phony reasons like drug trafficking and money laundering to win support for bad laws like the Bank Secrecy Act of 1970, which makes even small cash transactions potentially reportable to the Feds.”“Today cash is under attack like never before. Ultra low interest rates are the norm for commercial bank accounts. In Europe, as the ECB ventures into negative nominal interest rates, certain banks threaten to charge customers for depositing cash. Meanwhile, certain European bonds now pay negative yields, effectively turning them into insurance products rather than financial assets. And some economists now call for the outright abolition of cash, which shows just how far some will go in their crazed belief that economic prosperity can be commanded by forcing us to spend rather than save.”

The War on Cash is real, and it will only intensify from here on out. Dr. Joe Salerno delivers a powerful and comprehensive breakdown of how it’s happening


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