Why you should be paying attention to America's War on Cash

Discussion in 'Economics and Finance' started by Angroid, Sep 8, 2016.

  1. Angroid CyberSperg 1138

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    Submitted by Shaun Bradley via TheAntiMedia.org,
    Government campaigns of intimidation - like the wars on drugs, terror, and poverty - have been used to extort the public for decades. Despite the previous failures of institutional “wars,” a new war on cash is being waged that threatens freedom in a more subversive way than ever before.
    Banks and governments around the world are cracking down on the use of paper money, and in turn, eliminating any anonymity left in the current system. Through strict rules on cash transactions and civil asset forfeiture laws, for example, the system has already instituted penalties for using cash. But as payments evolve into a purely digital network, the consequences of this new paradigm are being brought into the spotlight.
    The ability to track, record, and mediate transactions of all individuals is a power dictators throughout history could have only dreamed of. Those who value privacy are turning to alternatives like cash, cryptocurrencies, and precious metals, but these directly threaten central bank dominance. This ongoing tug-of-war in financial innovation will determine whether we enter an age of individual empowerment or centralized enslavement.
    As mundane as it may seem, the main reason for this push to go cashless is directly tied to what world central banks are doing to prop up their economies. The manipulation of interests rates to zero or even negative has left central banks no ammunition to fight off the next recession. Without the ability to cut interest rates even further, stimulating economic growth is nearly impossible.

    The decisions made in response to the 2008 crisis have led to a perverted environment in which customers could be charged just for holding money in their accounts. As long as individuals have the ability to move their funds into paper currency and escape the losses, banks are still limited to how far they can push the envelope. Regardless, the federal government continues to pressure banks into issuing “Suspicious Activity Reports” for withdrawals of even as little as $5,000. That amount will undoubtedly decrease if and when more people resort to stuffing cash under their mattresses.
    Kenneth Rogoff, the former chief economist of the International Monetary Fund, noted in a recent paper how a cashless world would expand banks’ options:
    “In principle, cutting interest rates below zero ought to stimulate consumption and investment in the same way as normal monetary policy, by encouraging borrowing. Unfortunately, the existence of cash gums up the works. If you are a saver, you will simply withdraw your funds, turning them into cash, rather than watch them shrink too rapidly. Enormous sums might be withdrawn to avoid these losses, which could make it difficult for banks to make loans.”
    Conditioning the public to believe privacy and mere possession of cash are criminal acts is key to the establishment’s push into this new digital model. The media’s focus on cash and Bitcoin being used to fund cartels, terrorism, and gang activity is just a smokescreen for the real agenda of complete control — especially considering the big banks have already been caught laundering money for cartels and terrorist groups. The disruptive role cryptocurrencies and precious metals will play in this grand scheme is yet to be seen, but for now, they’re the best competition to the fiat dollar hegemony.
    Bitcoin has been the trailblazer of blockchain technologies. With its mobility and limitless applications, it has created an entire frontier for entrepreneurial innovation. Bitcoin’s peer-to-peer network promotes free association, free trade, and increased privacy without needing a government or bank stamp of approval. With the help of free-thinking developers, the cashless revolution could take shape as an open-sourced network that empowers people in incredible ways. The cashless central bank knockoff being put in place is nothing more than a trojan horse that, over time, will reveal itself as obsolete, like all other centralized models. The transformative effect on communication that will come with the development of the internet offers some idea of what the blockchain will do for the financial sector. Peer-to-peer banking has done a better job of encouraging small business growth and entrepreneurship than any government policy ever has.
    The rapid rise of Bitcoin’s price created a frenzy of interest, but the volatility and hacking scandals that followed have stalled the momentum. If cryptocurrencies are going to have a real chance as a viable alternative to government paper, they have a lot to prove before they can win over the masses. The blockchain ecosystem needs time to stabilize, and the public needs a chance to educate themselves on its potential. Until then, a balance between this new technology and more stable, time-tested assets can create a foundation for those seeking financial independence.
    Gold and silver bullion shouldn’t be overlooked when it comes to personal finance; with a hard asset that preserves wealth, losses from inflation and negative interest rates can be a thing of the past. Not only have they outlasted every government fiat currency in history, but they also provide a way to hold value off the books and transact anonymously. With precious metals, there is no counterparty risk, and their worth isn’t dependent on any government, bank or company. Having tangible assets directly in your possession assures the purchasing power of your savings is secure.
    Euro Pacific Capital CEO, Peter Schiff, warned about not diversifying out of fiat currency:
    “People should have an escape valve for their money, their assets. If you have substantial financial assets, the government is going to confiscate the purchasing power of those assets and spend it.”
    The government’s crusade to restrict financial freedom is just beginning; as always, fear and propaganda will be used to condition the masses into submission. The personal responsibility needed to protect yourself from the inevitable changes in the system can be overwhelming, but without taking the proper steps, the current ruling class will make the decisions for you.
    A cashless society is sold as a way to protect your identity, prevent crime, and create a safer world, but there is always a tradeoff. The only cashless model that can succeed is a decentralized one that can sustain itself without bailouts or manipulation. Banks and governments aren’t motivated by some noble vision for society; like all humans, self-interest is paramount. If their power monopoly is threatened by cash, free speech, drugs, or anything else, that threat will be demonized and attacked with no mercy. Although this technology based future has many unknowns, hopefully, the path we choose will create opportunities for entrepreneurs to make real progress against this financial oligarchy.
    http://www.zerohedge.com/news/2016-09-07/why-you-should-be-paying-attention-americas-quiet-war-cash
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  2. Diarrhetrius Brown Doctor of Niggerology

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    I remember it was towards the end of Jimmy Carters Presidency when gold and silver became very hot items. Not wanting to be left out I purchased 50 oz of silver and 6 Krugerands and if I had only saved my money in a regular old bank passbook savings account I would far, far ahead of where I am today.

    I lost my ass.

    I think it was 1979 when I purchased the gold spending somewhere around $600/oz on average. I actually made two separate purchased but my guess my gold would average out $600/oz but that is in 1979 dollars.

    In other words it was a hell of a lot of money. Using this inflation calculator $600 in 1979 was equivalent to $1,983.53 in 2016 dollars so you betcha it was a hell of a lot of money. I remember my house payments being around $280 and that was a lot of money.

    If I had put $600 in a passbook savings around it would be far, far more than $2,000 today because if you will remember back in the late 1970's and early 80's interest rates where much higher and it wasn't unusual for passbook savings accounts to pay 7%. I had a 9% home mortgage and that was considered a great deal.

    In my opinion the idea of gold is a Jew ass trick to separate you from your wealth. In 60 years I never heard anyone coming out ahead by buying gold, have you?

    The doom and gloomers... all would convince you to buy into some sort of bullshit because the world will end tomorrow but so often what they do with the money you gave them is invest in some sort of long term security. I've seen it countless times where the charlatans would spew forth study after study convincing everyone the world was ending not unlike the global warming assholes have been spewing forth for the past 20 years. Nothing they predict ever comes to pass.

    For my money I keep it in a secure and insured Edward Jones account not looking for growth, in my mid 70's I could give a shit what happens in 30 years, but security knowing if I can go get it tomorrow if I need it. That said growth has been pretty good since the election of President Trump.

    A little less than half our income is from social security and I am not worried about that either. For what it is worth "Ponzi scheme" my ass because in a Ponzi scheme is soon or later Ponzi will run out of other peoples money but the US government will never run out of money; they will simply print more if it is needed. Over the years I've heard countless spewing shit how social security wouldn't be here when I retired but it is here and it will remain.

    We are not Greece. Is our system perfect? No, of course it isn't but we're still not Greece.

    What they will do is what they have already done already; they will raise social security taxes and push back the full retirement age which was 65 for me and I think it is 66 for anyone retiring now. This isn't due to a failure of the system but people are simply living longer is all.

    Any politician stupid enough to venture forth cuts to social security is one damn stupid son of a bitch because he will be voted out of office the next election cycle. One thing about all us old foggies is we all vote and don't you forget it. Voting against geezers is voting for your own political suicide.

    I learned the key is no debt with one exception and that is the purchase of a home where you will live. Never finance a car or anything else. Save for it paying cash and if you can't do that you can't afford it. Oh, and I am not perfect I had to learn this one the hard way too but once I learned life got a whole lot better.

    Cash under a mattress? No way, no how. I look at myself if I had done that 50 years ago when I could by a gallon of gasoline for 22 cents and I wonder what the cash would be worth now. I remember once in the late 1950's I was traveling with my dad and we bought gasoline for 11 cents a gallon in Odessa, Texas. I was a teenager and it might have been 1960 but for some reason I remember dad filling up the tank for 11 cents a gallon spending $2 for the fill up.

    So don't buy into the doom and gloom. Be careful of course but the world will not end tomorrow even if the Jew wants you to think it will.
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  3. billy_boatrocker Wartime Consigliere

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    Using gold as an "investment" to speculate and increase your zogbux is a poor use of gold. First off, measuring gold by FRN's is ass-backwards. Gold can be a lot of things but that is NOT what it should be used for.
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  4. Angroid CyberSperg 1138

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    What Billy said.

    The entire point about hoarding gold is not to speculate for expected fiat money winnings, it is to provide a safety net against a calamitous economic collapse.
    Despite what Jewmedia may claim, gold ain't never ever going down to zero. That's not necessarily always going to be the case with paper or E-money.

    Gold allows one to store a large amount of wealth in a small form factor.
    Gold provides a degree of anonymity, it can be trade peer to peer. Try moving money around in the Jew banking system without being tracked & taxed..... ain't gonna work.
    Keep in mind that cash is being criminalised and phased out, so peer to peer cash payments will become more and more difficult in future because using larger amounts for transactions will be banned (already banned in a number of Western countries) and trying to deposit it in the bank will attract all kinds of unwelcome attention and questions from the banks and the feds.

    When speculating, the same rules apply with gold as it does with any other commodity. Buy low, sell high. If u fuck up ur timing, ur obviously going to "lose money" in fiat terms.
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  5. billy_boatrocker Wartime Consigliere

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    Thank you. I knew someone could say better than me without writing a book. I started typing an answer, it got long and pretty soon it's an economic white-paper. I deleted it. So my post above is a bit terse.

    You've covered it in your post. Using gold to speculate and obtain more zogbux is like using a Lamborghini as a grocery getter.

    I think of gold as a "no vote." No on the government, no on the financial system, no the naive belief that "it can't happen here." No on jews, just a big fat no. And a big fuck you to TPTB. And a yes on protecting myself, my family, my independence, etc.

    If you lived in some society of the past few thousand years and had some gold when you died, if you somehow came back to life with your gold today you'd be OK financially. In fact you'd be better off as I think your gold would buy comparatively more now than then.
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  6. Ozzy Bon Halen LOLworthy Threadmonkey & Critic Of Texas Dentistry

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    Pretty much. It's a good hedge against fluctuating currencies losing value and wiping you the fuck out. But, the war on cash has multiple motives. Here's a good article I got via Max Keiser.

    http://www.maxkeiser.com/2017/03/the-dark-side-of-cashless-society/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed: Maxkeisercom (maxkeiser.com)
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  7. Angroid CyberSperg 1138

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    The other bit to add here (it's obvious to the old hands but may not be so obvious to somebody who hasn't thought this through) is that buying gold and keeping it in storage in some Vault holding facility or a Bank safety deposit box (as many Germans do) is a risky strategy. Why? Because these people run the risk of letting themselves be robbed by the Vault, the Bank, the State or all three.

    On the other hand, storing it at home is risky too unless you take good precautions to guard against theft. And here, your best ally is to remain very very schtumm and to not mention a word about your investments to any friends, family or acquaintances. Walls have ears and before you know it the heavies will come calling.

    The last category of "gold investment" which wasn't mentioned is the investment in ETF's (Exchange Traded Funds) and similar paper & electronic "gold". This is a major fools errand..... because the equivalent gold which is supposed to back up these assets simply does not exist. It's a massive pyramid scam perpetrated by large banks, investment firms and in some cases the State. The rule of thumb is that if you don't hold the gold in your hands, and you have physical possession of it, that you may as well not have it at all.

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