Realcent.org

As quoted for the article;
AS PAPER MONEY DIES

Abolishing paper money has been a planned process by governments and central banks. Firstly it makes bank runs impossible. The banks will simply just turn off the ATMs. They can obviously also stop electronic transfers. The most important aspect of electronic money is the Big Brother is Watching Syndrome. Now the state has total electronic control of the citizens money not just from a tax point of view but the state can decide to block individual accounts or to charge fines or taxes without the permission of the account holder.

When the goobment controls ALL your spending,
they will be able to use your social credit score to "encourage" you to follow their rules.
didn't put out your trash in time? No snacks/beer for you for a month.
Caught rummaging your neighbors trash?
No porn for a month ETC

a small note. The article mentions that runs on banks will be stopped by shutting down the ATM. I dont think so. I dont think there will be any more runs on banks. The fed can just transfer electronic money to the balance sheet of the stressed bank, anywhere around the globe, and keep that bank open. and the fed can create as much electronic money as they want, either in exchange for T-bills, or just generated out of thin air. They have been doing both since 2009.

The point about money having no velocity is an important source of deflation. But we have also been importing deflation from 3rd world nations and China where labor, health, safety costs are so much lower than here. I do believe it will flip to inflation at some point, but it is hard to imagine the money taking on velocity where people are spending and bidding up prices, or where we cease to import cheap goods. Short term, I think deflation stays with us. Which makes the current bull market in PM's even more remarkable.

At the moment, until laws are changed (which they could be), a "bank run" would exist if cash was demanded for deposits and the bank couldn't supply it.

I believe you are correct, Mr. Camaro. A bank run would result if patrons demanded physical paper/coin, and the bank held insufficient physical money at that moment. I was thinking that a bank couldnt be insolvent, because the fed can electronically transfer as much electronic currency as they chose on a moments notice, without regard to collateral or balance sheet concerns. What constitutes money today really confounds me.

Keep in mind that the COVID-19 situation is getting more people who will gladly receive a shot in exchange for so-called immunity. If that shot included a tracking chip of some type, then we are even closer to losing another huge part of our basic liberties. Notice how these two are happening together...

So how many of you are planning on getting vaccinated if/when a vaccine becomes available? I don't get the annual flu shot and I don't plan on getting the sniffle 19 shot either.

TXSTARFIRE wrote:So how many of you are planning on getting vaccinated if/when a vaccine becomes available? I don't get the annual flu shot and I don't plan on getting the sniffle 19 shot either.

Seems to be a point of pride for you which I find bizzare but I won't debate.

I actively sought booster vaccines last year as well as got in line to get my shingrix vaccine shots. (Shingles is awful.) I'm not anti-vaxx and I'll take a vaccine if I think the potential value addition outweighs the cost and risks. While future concerns about insertion of chips (brought up in another thread) isn't out of the question at some point, that's just fantasy conspiracy theory at this point.

Recyclersteve wrote:Keep in mind that the COVID-19 situation is getting more people who will gladly receive a shot in exchange for so-called immunity. If that shot included a tracking chip of some type, then we are even closer to losing another huge part of our basic liberties. Notice how these two are happening together...

Would 'inserted tracking chips' have lifetime batteries or how would that work?