Governments Of The World Are Coming For Your Cash

Please Share This Story!

TN Note: Other analysts are catching on the negative interest rates will drive cash out of the bank and into the hands of consumers, which will set them up for a final conversion of cash to digital currency. Also see Bitcoin Threatened By Rival Super-currency Designed By Central Banks. The whole process may wipe out the majority of commercial banks and transaction services, and centralize the control of money and financial transactions into the hands of central bankers.

Large denomination physical cash is going to be outlawed if central bankers have their way. The push toward a fully digitized monetary system─where every transaction will be recorded, scrutinized, controlled, and taxed─is being sold to the public as some miracle elixir to cure the world of criminal behavior.

It can be argued that up until a few years ago there were still ways to exist off the grid and operate outside the monetary system, but the implementation of negative interest rates has now virtually assured that cash, as we know it, is on its last leg.

You can have cash or you can have negative interest rates, but you can’t have both. If negative interest rates are further reduced, what could be described as slow motion bank runs will likely ensue. The common man, seeing his hard earned savings robbed with each declining monthly bank statement, will finally awaken from complacency and begin actively withdrawing their money in physical form, thereby endangering the very foundation of fractional reserve finance.

Banks can’t exist without deposits. Keeping money in a mattress is preferable to being financially bled to death with negative rates. Central bankers are well aware of this and are already prepositioning policies and taking steps to prevent the coming exodus. Outlawing large denominational physical cash and large cash transactions will be used to financially imprison the public while the negative interest rates simultaneously pick their pocket.

Laugh all you want. Pretend this is just another conspiracy theory run amok, but these policies are already set into motion in Europe with the U.S. trailing not very far behind. Under the guise of stopping criminal activity, ending corruption, and fighting the global war on terror, the last bastion of financial freedom is now being sacrificed to prop up a debt tsunami.

Global debt has increased by over 57 trillion dollars since 2007. At these levels, sovereign debt in particular cannot be repaid with sound currency. Rather than dealing with the debt and slowing its growth to levels below the rate inflation, the central bankers’ solution is to instead destroy physical cash and punish savers.

The cold reality is that just paying the annual interest cost, at historically normal interest rates of 3-4%, would be next to impossible for the majority of the world’s governments. Burdened with surging unfunded entitlement obligations, these governments no longer have any wiggle room for surgical reductions in spending. It is simply much easier for governments to reduce borrowing costs to below zero, eliminating those constraining interest payments, than admit they were wrong and reverse course.

Allowing politicians and central bankers to implement negative interest rates is like giving your teenage son a bottle of whiskey and the keys to the Ferrari─it will only lead to trouble. Arguments that the economy of the world is stable and improving does not match up with the over seven trillion dollars in mounting sovereign debt at negative interest rates that requires no interest payments.

Read full story here…

Join our mailing list!

Technocracy.News is the only web site on the Internet that reports on and critiques Technocracy. Please take a minute to support our work on Patreon!
1 Comment threads
0 Thread replies
Most reacted comment
Hottest comment thread
1 Comment authors
Gunnar Recent comment authors
newest oldest most voted
Notify of

Sweden has just introduced new paper money, that probably has some sort of chip that leaves a trail. People were forced to either put their ´mattress money´in the bank or exchange them to the new values, thus the government knows exactly how much cash you have. It´s a no win situation and very frightening. Banks in US are now encouraging you to use your debit card for even the smallest purchases and with Apple pay money can easily be transfered from my account to yours, Europe´s version is an app called Swish and everyone just considers it a fun way… Read more »