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War on Cash: Summers, Others, Launch Strong Campaign for Cashless Society

Politics / War on Cash Feb 18, 2016 - 02:12 AM GMT

By: Jeff_Berwick

Politics

Your average person probably doesn’t even notice.  And they certainly don’t seem to care.

But an incredibly nefarious plan to get rid of all cash is well in process.

Your average person probably doesn’t even mind.  Credit cards and smartphone payments are very convenient.  So, what’s the big deal if there was no physical cash?

They’ll find out, very soon, what it all means.


As banks across the world are either in negative interest rates or headed that way, cash will be banned so there will be no way to avoid paying just to hold your money.  This isn’t your grandparent’s banking system.  Or even your parents.  They both remember the time when you could put money in your bank and actually earn interest/income on it.  The good old days, we call it.

Now, we live in a central banking, fiat currency world that is drowning in debt caused by that very system itself.  And in order to keep the system alive they now have to go to negative interest rates… but if you have cash and the banks charge negative interest rates, everyone will just take their money out of the banks.  So, they are quickly moving to rid the world of cash.

Credit and debit cards and other forms of electronic payment will substitute for the anonymity of paper and perhaps of gold. For surely gold and silver and perhaps jewelry generally shall be criminalized when it comes to monetary transactions as this promotion progresses.

The idea will be to ensure that everyone’s financial life is entirely transparent and that everyone’s ability to self-finance will be subject to the good will of the state.

Break a law – or perhaps even express a wrong opinion – and you may find your accounts frozen, your assets seized and your credit non-existent. This is the future of the “cashless” society.

Other reasons for it shall be floated of course. It will be said that modern societies don’t need cash because cash is used in “criminal transactions”. And EVERYONE needs a bank account, even the poorest among us, because a bank account is a preliminary building block of solvency.

Lawrence “Larry the Knife” Summers has added his hefty voice to the cashless debate in an editorial posted at the Washington Post.

But let’s be clear: The debate is not actually a debate, having already been decided at the very highest reaches of high finance. The West – the world – is going to cease to use cash for anything.

The evidence is increasingly around us.  In an example of art imitating life, or of predictive programming, a cashless version of Monopoly was just issued. Players use credit cards and transactions are logged by a tiny ATM.

When it comes to elite promotions – and cashlessness is certainly one – no detail is too tiny to overlook. The level of harmonization is breathtaking. And so is the goal …

These justifications are to be verbalized by the most powerful and impressive among us. In his Post editorial, Summers refers to a paper just issued out of Harvard’s Mossavar Rahmani Center for Business and Government by senior fellow Peter Sands and a group of student collaborators. The paper calls for reducing or eliminating the availability of the 500 euro note and the $100 bill.

Summers is actually late to the game as some of his colleagues have been on board since last spring when a meeting was held in London to plan the cashless campaign.

Martin Armstrong broke the story then in the alternative media, reporting: “I find it extremely perplexing that I have been the only one to report that there is a secret meeting in London where Kenneth Rogoff of Harvard University and Willem Butler the chief economist at Citigroup will address the central banks and advocate the elimination of all cash to bring to fruition the day when you cannot buy or sell anything without government approval.”

Summers has made up for his lack of timeliness by being extremely – obnoxiously – emphatic. Here’s an excerpt from his editorial:

Even better than unilateral measures in Europe would be a global agreement to stop issuing notes worth more than say $50 or $100.  Such an agreement would be as significant as anything else the G7 or G20 has done in years. China, which is hosting the next G-20 in September, has made attacking corruption a central part of its economic and political strategy. More generally, at a time when such a demonstration is very much needed, a global agreement to stop issuing high denomination notes would also show that the global financial groupings can stand up against “big money” and for the interests of ordinary citizens.

Read this several times to absorb it. China! Surely one of the most impressively corrupt countries in the world. The attack against “corruption” that Summers speaks of is being carried out by the same political elements that generate the corruption and the end-result will not make any difference at all.

But presumably, with Summers help, China shall be able to ban cash. Somehow this is supposed to make a difference in the larger scheme of things.

“There are real limits on what [we] can do to address global problems,” Summers writes. “But here is a step that will represent a global contribution with only the tiniest impact on legitimate commerce or on government budgets. It may not be a free lunch, but it is a very cheap lunch.”

It sure is cheap, though not in the way Summers has in mind. It’s cheap rhetoric, cheap analysis, cheap rationalization, cheap justification.

The power elite to which Summers has sold his soul is likely panicked at this point. The internet has blown up every one of its plans and its move toward global governance stands naked and exposed.

Worse still, people don’t want it and won’t cooperate with many of their globalist schemes. And thus the need for a cashless society. Thus the need for “persuasion.”

Humanity is to be reasoned with … shown what’s good and necessary.

The proximate encouragement will be your prone position and a boot, heel down. The mechanism of suasion will be its descent on one’s face – over and over again to eternity.

Antidotes exist of course. These include precious metals and cryptocurrencies.

Some people are uncomfortable with modern currencies like bitcoin as they see it as a move towards a cashless society.  But bitcoiners certainly aren’t for outlawing cash. They just want another option outside of the system for trade.  One not centrally controlled and able to print money at will. Additionally, cryptocurrencies are becoming more advanced to make them harder and harder to track.  Bitcoin is, in fact, a counter-response to the central banked cashless society agenda.  It’s a way to move away from the system to a much freer and decentralized one.

We’ll be releasing our Bitcoin investment book in a few weeks time, free to subscribers, on how to utilize cryptocurrencies to avoid being victimized by the upcoming cashless system and to ensure you maintain control over your own liquidity.

Moves are being made to control every kind of asset and to make your entire estate immediately accessible to authorities. Bail-ins can confiscate your accounts; expanding taxes of all kinds can undermine your solvency. Even IRAs are coming under attack.

Both pension funds and IRAs are the next target for confiscation and the best idea would be to move your funds to jurisdictions where  your “homeland” will have a more difficult time obtaining them. Use a self-directed IRA (contact TDV Offshore for more) to invest in gold, silver, bitcoin or real estate. The point is retain control, not give it away.

We’ll be discussing all these issues later this week at our Investment Summit and at Anarchapulco. If you’re not attending, you’ll certainly want to consider a subscription to our TDV newsletter (more info here) to get analysis and advice on how to survive and profit from the ongoing war on cash.

No one else will tell you how to protect yourself.  Mainstream media will cheerlead the move to a cashless and totally controlled society.  Your own financial advisor, unless he is one of the very few, will likely tell you what he is being told by his bosses, far, far away, that you should stay in the system.  Buy Treasury bonds!  Or stocks on the casino.

The good news is that there is a rising countermovement to this push for centralized and total monetary control.  Bitcoin, in fact, was created for this exact reason.

The fight is not yet over… but the victor is still to be undecided… and the bad guys have all the fiat money in the world to throw at the problem.  So, hope for the best (total abolition of governments and central banks) but prepare for the worst by following us here at TDV.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2016 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

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