An interesting article from 'The Daily Reckoning' written by Jim Rickards. It makes one despair for the younger generations' welfare in the future. The financial Elites need to be stopped.
How Governments Can Kill Cash
By Jim Rickards, Strategist, Strategic Intelligence
It’s almost as if someone hit the ‘start’ button right around April 11 — the beginning of IMF Spring Meeting week — and the elites have been cranking out the inflation plans ever since.
Of course, inflation is just one part of the global elite plan. There’s a lot else going on that is aimed at destroying your wealth to solve the global debt problem.
We write about these developments in Strategic Intelligence. Here’s a quick overview to give you the picture.
The inflation plans described above may take a few years to implement. The elites are discussing them now to condition the intellectual environment for action later. Still, developments such as actual changes in fiscal deficits and issuance of more special drawing rights (SDRs) will take time.
In the meantime, the global elites are using negative interest rates to do the same thing as inflation — make your money disappear. One way to avoid negative interest rates is to go to physical cash. In order to prevent that option, the elites have launched a war on cash.
The war on cash has two main thrusts. The first is to make it difficult to obtain cash in the first place. US banks will report anyone taking more than US$3,000 in cash as engaging in a ‘suspicious activity’ using Treasury Form SAR (Suspicious Activity Report).
It is the same in Australia. Any transactions over AU$10,000 must be reported to Australian Transaction Reports and Analysis Centre (AUSTRAC).
The second thrust is to eliminate large-denomination banknotes. The US got rid of its US$500 note in 1969, and the US$100 note has lost 85% of its purchasing power since then.
With a little more inflation, the US$100 bill will be reduced to chump change.
The war on cash is old news, but there are new developments. On 4 May 2016, the European Central Bank announced that they were discontinuing the production of new 500 euro notes. Existing 500 euro notes will still be legal tender, but new ones will not be produced.
This means that, over time, the notes will be in short supply and individuals in need of large denominations may actually bid up the price above face value paying, say, €502 in smaller bills for a €500 note. The €2.00 premium in this example is like a negative interest rate on cash.
The whole idea of the war on cash is to force savers into digital bank accounts, so their money can be taken from them in the form of negative interest rates. An easy solution to this is to go to physical cash.
Yet if physical cash becomes scarce — or nearly worthless due to inflation — savers may pay a slight premium for large-denomination notes. Your premium disappears because the note pays no interest. The elites have actually figured out a way to have negative interest rates follow you from digital accounts to paper money.
Another solution to negative interest rates is to buy physical gold. But if the government has a war on cash, can the war on gold be far behind? Probably not.
Governments always use money laundering, drug dealing and terrorism as excuses to keep tabs on honest citizens and deprive them of the ability to use money alternatives such as physical cash and gold. When you start to see news articles about criminals using gold instead of cash, that’s a stalking horse for government regulation of gold.
Guess what? Back in May 2016, Bloomberg wrote an article on criminals using gold. This is one more reason to get your physical gold now, while you still can.
As if inflation, confiscation, and negative rates weren’t enough, the global elites are coordinating a new plan for global taxation. As usual, there’s a technical name for global taxation so non-elites won’t understand the plan. It’s called base erosion and profit shifting, or ‘BEPS’.
The BEPS project is being handled by the OECD and the G-20, with the IMF contributing technical support.
The website is worth a look. To paraphrase that famous line attributed to Trotsky, ‘You may not be interested in BEPS, but BEPS is interested in you.’
The global elite plan doesn’t stop there. There’s also the climate change agenda led by the United Nations. This agenda goes by the name United Nations Framework Convention on Climate Change (UNFCCC).
The science of climate change is a sticky topic. It’s enough to know that climate change is a convenient platform for world money and world taxation.
That’s because climate change does not respect national borders. If you have a global problem, then you can justify global solutions. A global tax plan to pay for global climate change infrastructure with world money is the end game.
Don’t think that climate change is unrelated to the international monetary system. Christine Lagarde almost never gives a speech on finance without mentioning climate change. The same is true for other monetary elites. They know that climate change is their path to global financial control.
That’s the global elite plan. World money, world inflation and world taxation, with the IMF as the central bank of the world, and the G-20 Leaders as the Board of Directors.
None of this is secret. It’s all hiding in plain sight.
All the best,
Jim Rickards,
Strategist, Strategic Intelligence
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