War On Cash To Escalate In 2024

Visa Files Patent Application: 0200151682 to Create A "Digital Currency."  Corrupt US Officials Plan to Eliminate Physical CASH! 

Early last week Boggart Blog learned Globalists within the US Government and the banking and finance industry have announced a plan to launch a Digital Fiat Currency that would enable seamless transfers of funds between banks and tax jurisdictions as a major step towards banning cash. Bankers and politicians claim this is essential to protect business and private funds against the actions of hostile nations and to eliminate money laundering by organised crime networks. This is bollocks because neither of those goals could possibly be achieved. We, and others in the alt_news environment suspect the real reason for the move is to allow governments, NGOs such as the World Health Organisation (WHO) and World Economic Forun (WEF) to curtail our rights and liberties by being able to remotely (and automatically,) control our finances.

Watch this video to learn more of the long term plan to deny us the right to use cash and thus retain personal control of our finances.

The Great Taking - Documentary
David Webb exposes the system Central Bankers have in place to take everything from everyone.
https://www.youtube.com/watch?v=dk3AVceraTI

The U.S. Patent and Trademark Office (USPTO) website contains a page showing that VisaV +0.2% has filed a patent application to create digital currency on a centralized computer using blockchain technology. This patent applies to digital dollars as well as other central bank digital currencies such as pounds, yen, and euros so the physical currency of a central bank anywhere in the world could be digitized.

Described as ‘Digital Fiat Currency’ the patent was initially filed by Visa on November 8, 2019, with the USPTO commenting today, “It takes quite a while...” to publish the filing of a patent. Visa’s patent is described as a central entity computer that receives requests that include the serial number and denomination of a physical currency.

The creation of the digital currency and the removal of the physical currency from circulation in a fiat currency system is recorded on a blockchain.

The Visa has patent application hints at using the Ethereum (ETH) blockchain as the medium for processing transactions.

The application details two records, one of which would indicate “the digital currency for an amount associated with the denomination has been created for a public key associated with a digital wallet.” 

The other record notes the “removal of the physical currency from circulation in a fiat currency system.”

 
“Every time a unit of digital currency is generated, the central entity ensures that a corresponding physical dollar bill is removed from circulation, to regulate the value of the digital fiat currency.” Unfortunately Ethereum is just a bit suspect to be considered a safe medium for all our financial activity. Other sources report that ETH Founders’ are involved in a fraud bigger than FTX scandal of 2023. 

ETH Linked With Corrupt US Officials
Following his statement of Ethereum allegedly being involved in fraudulent schemes higher than Sam Bankman-Fried’s FTX crypto currency exchange fraud case, Steven Nerayoff disclosed that founders Joseph Lubin and Vitalik Buterin have allegedly been colluding with corrupt US government officials from some of the highest federal agencies. 
 
The lawyer who has insider knowledge of the Ethereum blockchain and the digital currency (ETH) is supports, having worked for the blockchain network previously, has come forward with explosive allegations regarding the actions of Ethereum founders, Vitalik Buterin, and Joseph Lubin.
 
“Ethereum is the fraudulent elephant in the room in plain sight 1000x bigger than FTX,” Nerayoff stated. 
 

The Great Taking Exposes The Financial End Game & The CIA

We are now living within a hybrid war conducted almost entirely by deception and thus designed to achieve war aims with little energy input. It is a war of conquest directed not against other nation-states but against all of humanity. Deep State organisations such as the US CIA have, in collaboration with the World Economic Forum (WEF - a private World Domination Society for billionasirepsychopaths,) have developed plans which would, if We The People tolerate it, take control of everyone's home, car, property, pensions, etc.

Agreements have been reached with world governments including all 50 US States on the plan of consolidating absolute power over everything. The primary documentary evidence adduced by Webb would be sufficient to incarcerate all of these culprits, if not condemn them to capital punishment.

This has been made to happen through the dark magic of false news and propaganda narrative. This alone has been a great crime against humanity. 

LIBRARY:

Keynote Post: The War On Cash - Putting Your Financal Dealings On Line Destroys Your Privacy
Overview article on the reasoning behind the elites bid to abolish cash and a hub for all our posts here and elsewhere on the Cashless Society theme.

CBDC: The Overarching Goal Behind The Digitisation Of Money?
Will World Be Cashless After COVID-19 Pandemic
The War On Cash Begins">

Posh Peoples Banker Humbled By Public Backlash To Authoritarian Debanking Policy
Much discussion in UK media and as far away as The USA and Australia this week has focued on the decision by Coutts (the posh people's bank,) to ‘de-bank’ former UKIP leader Nigel Farage, the political outsider who successfully steered the campaign to take Britain out of the EU to victory in a national referendum. According to Coutts initial responses to media attention the decision was taken because of reputational concerns.

Is Switzerland About To Become First Country To Outlaw A Cashless Society?
As in neighboring Germany and Austria, cash is still king in Switzerland albeit a much diminished one. But the Swiss will soon have the chance to vote on whether to preserve notes and coins indefinitely.

Negative Interest Rates & The War On Cash, Part 3: "Beware The Promoters"
Bitcoin and other electronic platforms have paved the way psychologically for a shift away from cash, although they have done so by emphasising decentralisation and anonymity rather than the much greater central control which would be inherent in a mainstream electronic currency. Despite the loss of privacy, electronic currency is much favoured by techno-optimists, but not so much by those concerned about the risks of absolute structural dependency on technological complexity.

Beware the dangers of a cashless society
As the country celebrates tradition and prepares for change, one major shift is closer than ever – our move towards becoming a cashless society. It is hard to imagine money without the Queen’s profile proudly embossed, defining our Elizabethan generation in a centuries-old British tradition, but the monarch’s face is fast disappearing from our pockets.

War On Cash Gathers Momentum - Germany Unveils Cash Controls
On Monday (1 February, 2016) just two days ago, Bloomberg called on the central banks of the world to “bring on a cashless future” in an Op-Ed that calls notes and coins "dirty, dangerous, unwieldy, and expensive." We can imagine it would be quite easy to harm someone by firing large coins at them from a gun and terrorists could probably stuff an improvised explosive device with small coins rather than nails or nuts and bolts. And if ...

Norway's Biggest Bank Joins Push To Abolish Cash
The move by governments to eliminate cash as a means of trading goods and services is moving faster than we imagined. With another global financial crisis looming according to financial journalists and investment experts this is as understandable as it is undesirable for us ordinary punters.

The Financial Times Calls for Ending Cash, Calls it a “Barbarous Relic”
Earlier this week, as the financial world was in turmoil following a rapid crash and recovery in financial markets. While we the punters shook our heads and wondered how the banksters get away with this kind of shit, The Financial Times published a dastardly little piece of fascist New World Order propaganda.

New Global Crisis Imminent, New Geneva Report Warns The Geneva Report refers to a “poisonous combination of high and rising global debt and slowing nominal GDP [gross domestic product], driven by both slowing real growth and falling inflation”. The total burden of world debt, private and public, has risen from 160 per cent of national income in 2001 to almost 200 per cent after the crisis struck in 2009 and 215 per cent in 2013. “Contrary to widely held beliefs, the world has not yet begun to delever and the global debt to GDP ratio is still growing, breaking new highs,” the report said.

Cashless Society - The Resistance Begins Here
A seaside market town in Norfolk may be less than 100 miles from the world's financial capital, London, , it may be the commercial centre of West Norfolk’ as the town website boasts, it may be home to 45,000 people — but there, unlike in London, cash is king.

Establishment Pushing ‘Cashless Society’ to Control Humanity
The global establishment is increasingly pushing the notion of what it calls a “cashless society” — a world in which all payments and transactions would be conducted electronically, creating a permanent record for governments to inspect and track at will.Multiple governments from Africa and Asia to Europe and ...

NatWest Imposes New Cash Limits In Latest Push Towards A Cashless Society
NatWest RBS banking group, which owns Coutts, the bank involved in the debanking of Nogel Farage story, and itself largely owned by the government on behalf of We The Taxpayerssince 2009, has granted itself “sweeping new powers” to limit the amount of cash customers can deposit and withdrawal, triggering warnings that banks are operating as a cartel to force customers towards abandoning cash completely and accepting a “cashless society” which would pave the way to electronic surveillance of our financial activity.

COVID To Blame For Inlation Says Economically Illiterate Bank Of England Chief
An interesting insight into the financial crises emerged yesterday as a result of a pissing contest between the current head of the Bank of England, Andrew Bailey, and his predecessor Mark Carney. Carney was always a supporter of the European Union throughout his tenure at the BoE and from 2016 to 2020 was a strong supporter of the 'Remain' campaign and finally of efforts by globalist billionaires and politicians to have the referendum result overturned. He has consistently spoken and published articles claiming Brexit is to blame for everything from inflation to extreme weather events.

U S Regional Bank First Republic Crashes As America's Banking 'Crisis In Confidence' Becomes Contagious
Shares in America's First Republic Bank's crashed when the New York stock market opened for trading this morning. The crash was triggered by a statement issued on Sunday night that sought to ease investor worries about the bank's liquidity situation in the wake of the failure of Silicon Valley Bank. Shares in the San Francisco based regional bank are down 60% on last week's close.

Do We Have A Winter Of Civil Disobedience Ahead?
As many people in Britain slap on the apres sun gloop in the wake of what passes for a heatwave in these cool cloudy climes, our inept politicians caught with their pants down by unusual weather as usual have heard that that winter is coming and are making plans for a coldwave. We are in the grip of an energy crisis at the height of summer. Last week, it was reported that the UK government is laying down plans for a “reasonable worst-case scenario” including blackouts for industry and even households. And this is as energy prices spiral out of control to new records every day.

Britain is Breaking Down; The Economy Is Struggling, Living Standards Are Falling, Institutions Are Failing
Successive governments have brought Britain to its knees.This article will focus on Britain as representative of the general malaise that is afflicting almost all the developed world. Our current crop of politicians have discarded the resources that brought the country out of the post war decline ... In spite of being rich in energy resources Britain is now in an energy crisis, our leaders have sacrificed prosperity on the altar of Net Zero, committing the nation to our reducing our 1% contribution to harmful emissions still further ...

"Revolution Has Begun": 75,000 Brits Plan To Stop Paying Power Bills In Protest At Energy Rip Off
Resistance is growing to spiralling domestic energy costs in Britain as more than 75,000 irritated people in the UK have pledged not to pay their electricity bill this fall when prices jump again. 

If the government & energy companies refuse to act then ordinary people will! Together we can enforce a fair price and affordable energy for all," tweeted "Don't Pay UK," an anonymous group spearheading the effort to have more than one million Brits boycott paying their power bill by Oct. 1.

E U Central Bank Digital Currency Is The Death Rattle Of A Failed Experiment

The announcement from the European Central Bank (ECB) that is is to intrduce an official European Union digital currency spells the end of the European Single Currency experiment and with it the ambition of "ever closer union until the EU's member states were merged into a single political entity Digital Currencies might not quite be Ponzi schemes but on appearances the difference can be compared to that between a horse and a pony.

Negative Interest Rates - Final Nail In The Coffin Of Neoliberalism? Negative interest rates, in plain terms a situation in which we pay bankers for holding our money, are the latest ruse of politicians and economists to make uis start spending our investments and savings, thus kickstarting the global economy thy have screwed up.

German MP Vows To End WHO / Billionaire Psycopaths Influence On Government Policy
German Member of the European Parliament (MEP) Christine Anderson last week delivered a speech to the Citizens Initiative in which she excoriated the World Health Organization, calling it a group of "globalitarian misanthropists" who she - and a group of seven other MPs, have vowed to dismantle in order to oppose the WHO supplanting democratically elected governments.

De - Dollarisation: China, Brazil Make Deal To Ditch US Dollar For Bilateral Trades
China and Brazil this week concluded a deal to conduct trade between their nations in their own in their own currencies, ditching the established reserve currency for global trade, US dollar as an intermediary, the Brazilian announced said on Wednesday. This is Beijing’s latest strike against the almighty greenback in its currency war aimed at shifting the balance of geopolitical and economic power from west to east.

NATO Rhetoric About Russian Threat is 'Absurd'
The reasons being given for the latest NATO military buildup in Eastern Europe, the idea that the Russian 'Russian threat' to Eastern Europe grows every day is "simply absurd," according to former US diplomat and Senate policy advisor Jim Jatras. Effectively, Jatras says, the buildup is an attempt by the US to keep Germany and France on board with Washington's world domination agenda and ...

The Demise Of Dollar Hegemony: Russia Breaks Wall Streets's Oil-Price Monopoly
Significant moves in the global chess game have just rendered the huffing and puffing of warmonger Obama meaningless and will break Wall Street's monopoly in controlling oil markets. The move is part of Vladimir Putin's long-term strategy of decoupling Russia’s economy and especially its very significant export of oil, from the US dollar, in effect ...

Naked Bankers Go For Gold
... That gold sale in 2013 was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery (quite a lot of it belonged to the german government) In effect the naked shorting of gold could only work because really the right hand was selling to the left hand.

The Demise Of Dollar Hegemony: Russia Breaks Wall Streets's Oil-Price Monopoly In a move that went almost completely unreported in mainstream media, Russia has recently opened a market for the trading of physical and 'paper' oil (futures) in Moscow in Roubles. This is the most blatant challenge yet to the domination of the US dollar in world trade.

WMD in Mayfair
Recalling yesterday's Machiavelli Blog which commented on events surrounding the unfortunate death of the alleged former Russian agent Alexander Litvinenko, it seems the murder investigation has now found evidence of many caches (well OK, traces) of radio active toxins in various fashionable establishments in London's West End frequented by former Russian intelligence agents.

China launches global yuan payment system
China’s Central Bank has started a global payment system which provides cross-border transactions in yuan. The China International Payment System (CIPS) intends to internationalize the yuan and challenge the US dollar's dominance.

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India's Cashless Society set to fail but slide to fascism goes on

On 17th July 2017, India will elect a new President through a vote of the elected representatives. The contenders are Ram Nath Kovind and Meira Kumar. Few people outside his own family know who Kovind is and voters are only vaguely aware of Ms. Kumar.

India will get a complete nobody as its next President. Both candidates are from the Indian province of Bihar. If it were a country, Bihar with its 119 million inhabitants would be the 12th most populated in the world. With a GDP of USD 420 per capita, it would also be among the world’s ten poorest countries.

While the world has been focused on events in Syria, Yemen, the USA, Europe and its immigration crisis, the USA and the Democratic Party's idiotic attempts to overturn the 2016 election result, and in the South China Sea, there has been little coverage of some serious political trends in the world's second largest nation by population. Adults and juveniles have been arrested all over India for celebrating Pakistan’s victory over in a recently held cricket match between the two countries. They are being prosecuted for sedition, a charge that has serious legal ramifications and could lead to life improsonment. With the British gone for 70 years, India’s laws and institutions seem to have lost their rational anchors and is becoming as fragmented, tribalistic and chaotic as it was before British rule.

In the presidential race Kovind is from the "lower caste" and is supported by the Indian Prime Minister, Narendra Modi, who would like to make up for recent atrocities against the lower classes. While he is a nobody with hardly any public credentials and a machine politician, Kovind is sympathetic to resurgent Hindu fanaticism and has the support of Hindue extremists.

The position of the Indian president is similar to that of The Queen in the British constitution. If the prime minister decides to impose martial law, he needs the president’s signature. With Kovind’s appointment, Modi will have installed the yes-man he needed at the top of India’s institutions.

Many Indian commentators living outside the coumntry hve said Modi India is very rapidly moving India towards becoming a police state, that will have a strong Hindu extremist faction as its core.

To a populace not anchored to reason, if one votes for Hinduism, one will go for Kovind; and if one is pseudo-secular and wants to look pro-women, one will vote for Kumar. Kovind will very likely win for no other reason than the fact that Modi and his party BJP have higher support than Kumar.

Many wealthy and so-called educated people who have never used a bank card. Many simply won’t trust a machine. Most are incapable of learning how to use the cards. With people tired of corrupt, untrustworthy and unpredictable banks and payment portals incapable of providing reliable services, cash is coming back with a vengeance.

The economy, however, continues to be stagnant. Businesses continue to fail. If not for economic reasons, businessmen have grown tired of corrupt and rapacious bureaucrats and an extremely uncertain regulatory regime. Look at an Indian businessman and you will see an unhealthy, tired, soulless person.

Even today, vegetables sell for half as much as they normally do. Are poor people going hungry? Do not expect news on this in the media, which must toe the line of the Indian government.

If food is so cheap, does it not indicate that poor people are unable to buy? Are they going hungry? Moreover, if farmers continue to suffer and cannot profit from their produce, what effect will that have on the future food supplies? [Ed. note: the collapse in food prices was originally triggered by the government’s overnight cash ban]

Money — even in fiat currency form — is the blood of the system. Once the blood flow was stopped, even if it is fully revived later, clots will have appeared and organs will have failed. That is happening in India today. Job growth was already stagnant, but the situation is much worse now, making India’s so-called demographic asset, which never was an asset, a massive liability.

Domino effects continue to work their way up the food chain. Formal and big businesses are beginning to show signs of stagnation. Members of the salaried middle class are losing their jobs, but they have so far failed to connect the dots and continue to support Modi.

On 8th November 2016, Modi declared 86% of the monetary value of India’s outstanding currency illegal. Even today, ATMs remain cashless. The banks are clogged with throngs of people. Small businesses — the backbone of India’s economy — keep failing, because people continue to avoid discretionary spending.

People have suffered economically as the smooth flow of the economy was disrupted, and transaction costs for businesses have increased. Food prices have recovered a bit recently, but are still at about half their previous levels. Unfortunately, this is not because production has increased, but because demand has collapsed, with many of the poorest people likely unable to buy food.

Over a billion people in India have no access to internet. When it is available, it is often very slow. Electricity is unreliable. Bank websites are extremely unwieldy. To make an online transaction, the login process is usually very complicated, often requiring several steps and verification codes sent as text messages.

More than a month ago, I paid online for a flight ticket from Delhi to London. The money left my account, but I never got the ticket. It was virtually impossible to get in touch with the Indian company I had bought the ticket from. When I did finally manage to contact them, they told me that they had refunded the money. The bank says it never got the refund. Of course, I have had to personally visit the bank every time and spend a long time waiting to talk to someone. In this electronic day and age, more than a month after the event, no-one knows where my money is.

It is hard to pinpoint who deserves the blame. Indians are extremely unskilled, uneducated (despite paper certificates aiming to prove otherwise), and lack work ethics. They almost never have passion for their jobs or an interest in providing good services to their clients. This is the main feature characterizing many Indian companies. Management and owners lack professionalism and are singularly focused on the bottom-line, by hook or by crook, eschewing true value-addition.

India’s attempt to go digital will fail. Digital cash will fail. E-commerce companies will fail. In India, the national ID-card system, Aadhaar, will fail. The GST system will likely fail, or it will at least create massive problems in implementation. All these programs will impose huge costs on the economy and the well-being of entrepreneurs, including the wretched poor in the large informal economy.

India is looking for totalitarian solutions to deal with problems created by totalitarianism and tribalism. India is trying to use the the facade of the technologically advanced West hoping that the packaging will automatically deal with the lack of inner substance. Fail even with respect to superficial issues seems preordained.

India’s government cannot provide basic services to its people. Ambulances are conspicuous by their absence. But Modi wants to move on to doing bigger things. In the last 70 years of independence, Indians have systemically destroyed the institutions of the rule of law that the British had bestowed on the country.

There is a lot of pain and no gain facing India. If they had any sense they should be begging the British to return and rule the country. That is the only option apart from chaos, disintegration, and eventual never-ending tribal infighting among the fragments.

Sources:

India: Why its Attempt to Go Digital Will Fail

India: Cash Is Back


RELATED POSTS:

Back to Contents table


Washington Signals Fears Over Dollar

Globalist Bankers Make Plans To Rob Your Bank Account

Banning Cash Will Stop Terrorism (and end war, poverty, disease and bad smells)

The Global Economy Is so Healthy Its OK For Bankers To Steal Our Money

Corporate Capitalism has replaced democracy in western nations

Another Blow To The US Dollar Reserve Currency Status As Russia Sings Up Turkey, India

Luxembourg defends massive corporate tax dodging
economic-growth-hoax.shtml">You’re not feeling the economic boom are you? Here’s why

If Free Market Capitalism Is The Global Economic System, WTF Is This All About?

Global Corporatocracy Set To Take Over The World

European Commission puts business profits before the needs of the world’s poorest.

Cashless Society - The Resistance Begins Here

Foreign Exchange Market Rigging: Another Conspiracy Theory Exposed As Truth

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The War On Cash Intensifies In Response To Trump and Brexit

Having discontinued its production of EUR500 banknotes, it appears Europe is charging towards the utopian dream of a cashless society. Just days after Davos' elites discussed why the world needs to "get rid of currency," the European Commission has introduced a proposal enforcing "restrictions on payments in cash."

With Rogoff, Stiglitz, Summers et al. all calling for the end of cash - because only terrorists and drug-dealers need cash (nothing at all to do with totalitarian control over a nation's wealth) - we are not surprised that this proposal from the European Commission (sanctuary of statism) would appear...

The Commission published on 2 February 2016 a Communication to the Council and the Parliament on an Action Plan to further step up the fight against the financing of terrorism (COM (2016) 50). The Action Plan builds on existing EU rules to adapt to new threats and aims at updating EU policies in line with international standards. In the context of the Commission's action to extent the scope of the Regulation on the controls of cash entering or leaving the Community, reference is made to the appropriateness to explore the relevance of potential upper limits to cash payments.

The Action Plan states that "Payments in cash are widely used in the financing of terrorist activities… In this context, the relevance of potential upper limits to cash payments could also be explored. Several Member States have in place prohibitions for cash payments above a specific threshold."

Cash has the important feature of offering anonymity to transactions. Such anonymity may be desired for legitimate reason (e.g. protection of privacy). But, such anonymity can also be misused for money laundering and terrorist financing purposes. The possibility to conduct large cash payments facilitates money laundering and terrorist financing activities because of the difficulty to control cash payment transactions.



...



Potential restrictions to cash payments would be a mean to fight criminal activities entailing large payment transactions in cash by organised criminal networks. Restricting large payments in cash, in addition to cash declarations and other AML obligations, would hamper the operation of terrorist networks, and other criminal activities, i.e. have a preventive effect. It would also facilitate further investigations to track financial transactions in the course of terrorist activities. Effective investigations are hindered as cash payments transactions are anonymous. Thus restrictions on cash payments would facilitate investigations. However, as cash transactions are moved to the financial system, it is essential that financial institutions have adequate controls and procedures in place that enable them to know the person with whom they are dealing. Adequate due diligence on new and existing customers is a key part of these controls in, line with the AMLD.



Terrorists use cash to sustain their illegal activities, not only for illegal transactions (e.g. the acquisition of explosives) but also for payments which are in appearance legal (e.g. transactions for accommodation or transport). While a restriction on payments in cash would certainly be ignored for transactions that are in any case already illegal, the restriction could create a significant hindrance to the conduct of transactions that are ancillary to terrorist activities.



...



Organised crime and terrorism financing rely on cash for payments for carrying out their illegal activities and benefitting from them. By restricting the possibilities to use cash, the proposal would contribute to disrupt the financing of terrorism, as the need to use non anonymous means of payment would either deter the activity or contribute to its easier detection and investigation. Any such proposal would also aim at harmonising restrictions across the Union, thus creating a level playing field for businesses and removing distortions of competition in the internal market. It would additionally foster the fight against money laundering, tax fraud and organised crime.

And then right at the end, they mention "fundamental rights"...

While being allowed to pay in cash does not constitute a fundamental right, the objective of the initiative, which is to prevent the anonymity that cash payments allow, might be viewed as an infringement of the right to privacy enshrined in Article 7 of the EU Charter of Fundamental Rights. However, as complemented by article 52 of the Charter, limitations may be made subject to the principle of proportionality if they are necessary and genuinely meet objectives of general interest recognised by the Union or the need to protect the rights and freedoms of others. The objectives of potential restrictions to cash payments could fit such description. It should also be observed that national restrictions to cash payments were never successfully challenged based on an infringement to fundamental rights.

To refer to the full proposal scroll to the bottom of this frame and click the VIEW ON SCRIBD link.

https://www.scribd.com/embeds/337702404/content?start_page=1&view_mode=scroll&access_key=key-iPD195p5mFmr8y9Q19qH&show_recommendations=true

* * *

It was inevitable of course that with the rise of anti - establishment feeling, the War On Cash, like the various assaults of free speech going on throughout the developed world would become more urgent. The UK vote to leave the EU and the election of Donald Trump in the USA have also made this moved this restriction on personal freedom higher up the elitist control freaks agenda. Below are a few points raised by SovereignMan's Simon Black, who detailed previously that the war on cash is happening faster than we could have ever imagined, and predictably, is based on lies.

Every time we turn around, it seems, there’s another major assault in the War on Cash. India is the most notable recent example– the embarrassing debacle a few weeks ago in which the government, overnight, “demonetized” its two largest denominations of cash, leaving an entire nation in chaos. But there have been so many smaller examples.



In the US city of New Orleans, the local government decided earlier this month to stop accepting cash payments from drivers at the Office of Motor Vehicles. As I wrote to you recently, several branches of Citibank in Australia have stopped dealing in cash altogether. And former US Treasury Secretary Larry Summers published an article last week stating that “nothing in the Indian experience gives us pause in recommending that no more large notes be created in the United States, Europe, and around the world.” In other words, despite the India chaos, Summers thinks we should still curtail the $100 bill.



The conclave of the high priests of monetary policy almost invariably sings the same chorus: only criminals and terrorists use high denominations of cash. Ken Rogoff, Harvard professor and former official at the International Monetary Fund and Federal Reserve, recently published a book blatantly entitled The Curse of Cash. Ben Bernanke’s called it a “fascinating and important book”.



And, shockingly, a number of reviews on Amazon.com praise “brilliant” Rogoff’s “visionary concepts” in his “excellent book”. Rogoff, like most of his colleagues, contends that large bills like the $100 or 500 euro note are only used in “drug trade, extortion, bribes, human trafficking. . .” In fact they jokingly refer to the 500-euro note as the “Bin Laden” since it’s apparently only used by terrorists.



Give me a break. My team and I did some of research on this and found some rather interesting data.It turns out that countries with higher denominations of cash actually have much lower crime rates, including rates of organized crime.



The research was simple; we looked at the World Economic Forum’s competitive rankings that assesses countries’ levels of organized crime, as well as the direct business costs of dealing with crime and violence.



Switzerland, with its 1,000 Swiss franc note (roughly $1,000 USD) has among the lowest levels of organized crime in the world according to the WEF. Ditto for Singapore, which has a 1,000 Singapore dollar note (about $700 USD). Japan’s highest denomination of currency is 10,000 yen, worth $88 today. Yet Japan also has extremely low crime rates. Same for the United Arab Emirates, whose highest denomination is the 1,000 dirham ($272).



If you examine countries with very low denominations of cash, the opposite holds true: crime rates, and in particular organized crime rates, are extremely high. Consider Venezuela, Nigeria, Brazil, South Africa, etc. Organized crime is prevalent. Yet each of these has a currency whose maximum denomination is less than $30.



The same trend holds true when looking at corruption and tax evasion.



Yesterday we wrote to you about Georgia, a small country on the Black Sea whose flat tax prompted tax compliance (and tax revenue) to soar. It’s considered one of the most efficient places to do business with very low levels of corruption. And yet the highest denomination note in Georgia is the 500 lari bill, worth about $200. That’s a lot of money in a country where the average wage is a few hundred dollars per month. Compare that to Malaysia or Uzbekistan, two countries where corruption abounds. Malaysia’s top cash note is 50 ringgit, worth about $11. And Uzbekistan’s 5,000 som is worth a paltry $1.57.



Bottom line, the political and financial establishments want you to willingly get on board with the idea of abolishing, or at least reducing, cash.



And they’re pumping out all sorts of propaganda to do it, trying to get people to equate crime and corruption with high denominations of cash.

Simply put, the data doesn’t support their assertion. It’s just another hoax that will give them more power at the expense of your privacy and freedom.

Defend your personal liberty, insist on using cash whenever it is convenient for small transactions.

RELATED POSTS:

Cashless Society Equals Cashless People
Ending the Ownership of Money
Banning Cash Will Stop Terrorism (and end war, poverty, disease and bad smells)
Bill Gates Pushes Cashless Society

How Mainstream Media And The Major Political Parties Are Making Sure Voters Do not Hear The Voices Of Politics' Most Powerful Critics

As the General Election campaign starts to heat up, we try to shift focus away from the squabbling between Conservative and Labour about who can make the most promises they have no intention of keeping and to the real issues concerning jobs, social breakdown , mass immigration, and loss of national sovereignty.

US Presidents Of The Past warned Against Secret, Shadow Government.
By now it should be obvious that peacemake, joybringer and putative aquatic pedestrian Barack Hussein Obama was never really in charge of the US Government. Whatever Obama said would happen, all the American government's policies ensured the opposit would happen. The embedded article thows some light on how the US government really works

The American Political System Is "Not A Democracy Or Constitutional Republic" - Thiel
The state of democracy in the USA has become a hot topic of conversation in American business circles in recent years. While President Barack Hussein Obama, not so much a man as an ego on long skinny legs, has increasingly been inclined to rule by executive order in the manner of a despot or tyrant, even Obama's fiercest critics have to admit the American electoral system seems increasingly capable of delivering only political paralysis ...

Virtual ID has arrived – why you should resist taking it up

We told you some years ago when our publication appeared under a different name that the then Labour Government's plan for compulsory electronic ID cards was the step that would take us over the line from a seblance of liberal democracy into oligarchic fascism. Labour's plan was derailed by public opposition but now it has been rehashed and is presented with fluffy window dressing. A vote for Labour, Conservative Or Liberal Democrat is a vote for fascism. You have been warned.

Banksters 1.5 Quadrillion Dollar Conspiracy

How the big banks rigged the derivatives markets to steal one and a half quadrillion dollars from private citizens and businesses. It makes shocking reading but at last people are waking up to the fact this kind of shit has been going on for years ...

Happy Interdependence Day. The New World Order Was Announced In 1975

As America celebrates Independence Day, The Daily Stirrer looks back to 1975 when a document titled declaration Of Interdependence signalled the intent of American elitist liberal intellectuals to destroy the American ideals of freedom and independence and lead the nation into a global totalitarian superstate.

Washington Signals Fears Over Dollar

Globalist Bankers Make Plans To Rob Your Bank Account

Banning Cash Will Stop Terrorism (and end war, poverty, disease and bad smells)

The Global Economy Is so Healthy Its OK For Bankers To Steal Our Money

Corporate Capitalism has replaced democracy in western nations


Slaves To The Machine

Holy City (slam poem)


New World Order

Living Within The Conspiracy

Negative Interest Rates & The War On Cash, Part 3: "Beware The Promoters"

Bitcoin and other electronic platforms have paved the way psychologically for a shift away from cash, although they have done so by emphasising decentralisation and anonymity rather than the much greater central control which would be inherent in a mainstream electronic currency. Despite the loss of privacy, electronic currency is much favoured by techno-optimists, but not so much by those concerned about the risks of absolute structural dependency on technological complexity.

Death Of Democracy: Why We Can’t Get The Government We Deserve And Vote For.

In every election campaign, in the UK, USA, Canada, Germany, France etc. politicians spout about delivering 'change'. And yet every government we elect, no matter what label they wear or what coulour the use on campaign materials, seems just the same as the last, making the same promises and mistakes. Ever wondered why?

Google quits Spain in paid content row
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Spain's government have defied Google's vow to shut down its Spanish online news service rather than pay for content, [ ... ] The internet search giant threatened to close Google News Spain in December, 2014, before an intellectual property law enters force in January obliging Internet news scrapers to pay for content automatically lifted from other websites. Spain's culture ministry, said it would go ahead with the new law, Google's response is "a matter for the company".

Bill Gates Pushes Cashless Society

‘Bill Gates is now promoting “digital currency” in third-world countries, which will make the poor even more dependent on central banks while also turning them into guinea pigs for the development of a “cashless society” in the U.S. and Europe.

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