"The War on Cash is Not Over… It’s About to Intensify"

[neilgin1]

"The Trump Presidency has distracted from the next major move to be implemented by Financial Elite.
That move is a cash ban.
Cash, particularly physical cash (as in bills and coins) is a huge problem for insolvent banks."

rest of the SHORT article:
http://news.goldseek.com/GoldSeek/1479742125.php

question:

any ideas on a coherent "workaround"?

my default position is "black (or even "gray") market", which I have at various times operated in.

and what do you think the whole "endgame" is to this situation....what do "they" WANT?

[68Camaro]

If this is a long term effect there is little most people can do. Even those with cash stockpiles will eventually deplete them - if cash isn't made obsolete altogether. Hard metal will keep others afloat for still more time on a barter system, but even that has a finite life for most of us. Those are temporary solutions intended to get us to the other side of a crisis. If the crisis lasts for a generation or more, God help us. Our children would be reduced to slaves, even if well kept ones.

What are they trying to do? Simply put - the global elitists wish to enslave us for their personal benefit.

[commoncents]

A potential workaround:
Communities (such as small towns) that operate two economies. The public market which uses the regime's 'money' - mostly for things that unavoidably have a record (such as land or holding a main job). And the non-public market, which uses many commodity monies such as US silver dimes and quarters - most for things that don't leave a record. Many of the townspeople would have a second job that earns in the non-public marketplace.
Advantages: It can come about without wholesale ideological conversion. It can be built piecemeal. If the non-public transactions look like income from hobbies, then even the discovery of such by government officials would not necessarily bring a severe response.

[Changechecker]

I have been watching videos of the effects of cash ban currently happening in India. Flip side hyperinflation in other nations.
Seems that the potential for either is possible. I have been hearing chatter that they may ban the $100.00 bill here by 2018. If this happens here I would imagine it will be a used as a test to gauge public reaction. Change is upon us.

[beauanderos]

I can see the logic in the author's assumption. Doesn't seem farfetched at all.

[68Camaro]

I can see the logic in the author's assumption. Doesn't seem farfetched at all.

Yep, and elimination of the $100 bill would immediately cascade into shortage of all bills as $100s are converted and some loss of faith in banks was translated into some limited capital withdrawal (mostly by boomers, as Millennials and Gen-Xers don't use much (or any) cash, and it is boomers that have the savings). So get your cash while you can. ATMs might become obsolete earlier than we thought, as there might be no more circulating money to feed them. The $100 bill might be retained for a time as a reserve currency asset by central banks until other methods were developed (as most reserves are held in $100s), but it certainly could be removed from circulation.

Larger reaction question is long term. I don't have a clear vision of how to respond in the long term... (Besides the obvious of debt elimination, PMs, other hard assets, etc.)

[beauanderos]

I can see the logic in the author's assumption. Doesn't seem farfetched at all.

Yep, and elimination of the $100 bill would immediately cascade into shortage of all bills as $100s are converted and some loss of faith in banks was translated into some limited capital withdrawal (mostly by boomers, as Millennials and Gen-Xers don't use much (or any) cash, and it is boomers that have the savings). So get your cash while you can. ATMs might become obsolete earlier than we thought, as there might be no more circulating money to feed them. The $100 bill might be retained for a time as a reserve currency asset by central banks until other methods were developed (as most reserves are held in $100s), but it certainly could be removed from circulation.

Larger reaction question is long term. I don't have a clear vision of how to respond in the long term... (Besides the obvious of debt elimination, PMs, other hard assets, etc.)

I don't think it would be unreasonable to assume that local and nationwide effects would develop and follow the same pattern as what we're seeing in India. It's not only the elite who can watch the
rats run the maze to see if any finish... we can benefit from this as well, if only as an impetus to get off our furry little rodent behinds and feather our nests some more. sorry about the mixed metaphor

Also... in another thread maybe six months ago, I raised the question... could circumstances ever develop that would lend a premium to smaller denomination currency bills? Stay tuned for the answer.

[68Camaro]

The people that would pay for this are the poorly documented working poor who live on the fringe of our society. Not entitled enough to get government assistance (or not much of it). Can't get a checking account (I was surprised to find several years ago that there is a substantial percentage of the population that can't get a bank account because they don't qualify - which is why all those bottom-feeding check cashing stores exist). Have no insurance or health care beyond the ER for life-threatening issues. Might not have transportation (or if they do, it's marginal).

These folks operate largely on cash. No cash - they are screwed. Much like the poor Indian people we've learned about during their cash crisis.

[hobo finds]

Would coins be safer to hold than bills?

[Bigjohn]

The biggest problem would be figuring out how to tip strippers.........

[InfleXion]

any ideas on a coherent "workaround"?

This is pretty much why I stack. Precious metals are the workaround. Not to mention anything else of value you can store. Digital currency is a viable option but has its drawbacks such as grid dependency, ability to be tracked, and dependence upon having a userbase to maintain value.

Gold obviously being better than silver for large denominations, but as far as cash goes you can bypass the bill size by visiting ATMs now and then.

and what do you think the whole "endgame" is to this situation....what do "they" WANT?

An end to the middle class and a return to feudalism. Today if you have enough money to afford a lawyer you can still defend your rights. If a person becomes dependent upon an entirely digital currency, whether thats a digital FRN or a BitCoin, then anything can be mandated of them for continued use of it. Dependence doesn't occur without first having the option. Things like Apple Pay and Google Wallet and even BitCoin help build the infrastructure for monetary control that must exist before requirements can be imposed for participation in the moneteary system. Shrinking the bill size is one of many incremental steps in steering usage away from cash toward that end.

[Shazbot57]

I can see the logic in the author's assumption. Doesn't seem farfetched at all.

Yep, and elimination of the $100 bill would immediately cascade into shortage of all bills as $100s are converted and some loss of faith in banks was translated into some limited capital withdrawal (mostly by boomers, as Millennials and Gen-Xers don't use much (or any) cash, and it is boomers that have the savings). So get your cash while you can. ATMs might become obsolete earlier than we thought, as there might be no more circulating money to feed them. The $100 bill might be retained for a time as a reserve currency asset by central banks until other methods were developed (as most reserves are held in $100s), but it certainly could be removed from circulation.

Larger reaction question is long term. I don't have a clear vision of how to respond in the long term... (Besides the obvious of debt elimination, PMs, other hard assets, etc.)

If they do away with the $100 bill, like Lawrence Summers and the other Anti-Cash crowd want to implement, HOW would OBummer transfer pallets of cash to the Extreme-ists?

[silverflake]

Well, the "powers-that-be" have the ability to remove the $100 bill sooooooo......, they may as well just print up one single $19 trillion dollar bill, pay off the debt and make things all perfect. Maybe they could put a great world hero on it like Karl Marx.

Silver and gold (and copper) have never looked more attractive to me.

PLEASE keep stacking.

[johnbrickner]

My bank informed me today that ANY withdrawals $3,000 cash or more would warrant my information taken. My information was already on file but the reporting goes to? I didn't ask and they didn't tell. I don't particularly care as it's my son's custodial and it is easily spent in his best interests at this time with receipts kept but, in 2000 it was $10K, then it was $5K and now it's $3K.

Had both my kids with me so it was a teachable moment for the War on Cash lesson. "Only a matter of time before you are punished (call it a fine, premium, additional charge, etc.) for using cash" I told them. Real life, I can't make this up.

[beauanderos]

My bank informed me today that ANY withdrawals $3,000 cash or more would warrant my information taken. My information was already on file but the reporting goes to? I didn't ask and they didn't tell. I don't particularly care as it's my son's custodial and it is easily spent in his best interests at this time with receipts kept but, in 2000 it was $10K, then it was $5K and now it's $3K.

Had both my kids with me so it was a teachable moment for the War on Cash lesson. "Only a matter of time before you are punished (call it a fine, premium, additional charge, etc.) for using cash" I told them. Real life, I can't make this up.

Yep, it's $3000 now. Pretty soon they're going to consider my hitting the ATM for the max for several consecutive days as being suspicious as well.

[wolvesdad]

I better go get $2500 tmw.

[johnbrickner]

Telling you what, I'm dumping all the $100s for smaller bills too. Enough of this shat.

[hobo finds]

I am going with $2 bills only need 50 to make a hundred!