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The Financial Times has published an anonymous article which calls for the abolition of cash in order to give central banks and governments more power.


Entitled The case for retiring another 'barbarous relic', the article laments the fact that people are stockpiling cash in anticipation of another economic collapse, a factor which is causing, "a lot of distortion to the economic system."


Comment: People should be stockpiling cash, precious metals and all sorts of supplies in anticipation of a probable economic collapse. The only "distortion to the economic system" will be in the distorted minds of individuals who experience a sense of loss of control over individuals who would seek to protect themselves and persevere through the turmoil to come.


"The existence of cash — a bearer instrument with a zero interest rate — limits central banks' ability to stimulate a depressed economy. The worry is that people will change their deposits for cash if a central bank moves rates into negative territory," states the article.

Complaining that cash cannot be tracked and traced, the writer argues that its abolition would, "make life easier for a government set on squeezing the informal economy out of existence."


Comment: What about the government making life easier for the people that they are supposed to serve? But that doesn't quite enter the equation does it? 'Informal' economies, or black markets as they are sometimes called, are the only way the vast majority of normal people can make it through the really tough times.

Have a listen to Dmitry Orlov a Russian engineer who's lived through Soviet Russia's collapse in the early 90's:

SOTT Talk Radio #66 - Lessons from collapse of USSR for USA: Interview with Dmitry Orlov

and read: Dmitry Orlov interview: Are Americans prepared for a Soviet style collapse?


Abolishing cash would also give governments more power to lift taxes directly from people's bank accounts, the author argues, noting how "Value added tax, for example, could be automatically levied — and reimbursed — in real time on transactions between liable bank accounts."

The writer also calls for punishing people who use cash by making users "pay for the privilege of anonymity" so they will, "remain affected by monetary policy." Dated bank notes would lose their value over time, while people would also be charged by banks for swapping electronic reserves for physical cash and vice versa.


Comment: Wonderful. As though being subject in any way, shape or form to the bankers, financiers - and the politicians who are in bed with them - isn't already punishing enough! In the meantime many of these arch criminals are making moves behind the backs of 99% of the world's population in utter anonymity themselves...

If your blood isn't boiling at the complete arrogance and malevolence behind this pathological shite, then it darned well should be!


The article echoes an argument made by Kenneth Rogoff, former chief economist of the International Monetary Fund, who has called for high denomination banks notes such as the €100 and €500 notes to be phased out of existence.

As we previously reported, Rogoff attended a meeting in London earlier this year where he met representatives from the Federal Reserve, the ECB as well as participants from the Swiss and Danish central banks. The issue of banning cash was at the forefront of the agenda.

Last year, Rogoff also called for "abolishing physical currency" in order to stop "tax evasion and illegal activity" as well as preventing people from withdrawing money when interest rates are close to zero.

The agenda to ban cash was also discussed at this year's secretive Bilderberg Group meeting, which was attended by the Financial Times' chief economics commentator Martin Wolf.


Comment: And that's how it works: An IMF guy (who's probably gotten his orders from some BIS member, Rothschild or some other 'Master of the Universe') talks to a bunch of Fed and ECB guys, gets them on board, and then talks to his Bilderberg clubhouse cronies where he gets everyone on board: including some sycophantic nitwit from an elitist financial publication like the Financial Times or The Economist. Then everyone in that world who wants to continue being in that world "gets with the program". Though this particular mode of control - a cashless system - has no doubt been in the works for a very long time.


Former Bank of England economist Jim Leaviss penned an article for the London Telegraph earlier this year in which he said a cashless society would only be achieved by "forcing everyone to spend only by electronic means from an account held at a government-run bank," which would be, "monitored, or even directly controlled by the government."

In the UK, banks are treating the withdrawal of cash in amounts as low as £5,000 as a suspicious activity, while in France, citizens will be banned from making cash payments over €1,000 euros from Tuesday onwards. The withdrawal and deposit of cash over the amount of €1,000 euros will also be subject to ID verification.

"There is no more egregious anti-liberty economic policy imaginable than banning cash," writes Michael Krieger.

"Of course, if cash were involuntarily "ended," there would be a surge in demand for physical gold and silver, which would then necessitate a ban on those items. Then the cycle of economic and financial tyranny would be complete, and crawling our way out of it, nearly impossible."


Comment: Have a listen also to Fernando "Ferfal" Aguirre to get a sense of just how indispensable cash is during an economic disaster - even after its buying power has been severely reduced:

SOTT Radio - The Truth Perspective #16: Surviving the Economic Collapse, with Fernando Aguirre


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