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worldwide-economic-recession

After two epic market collapses in the last 15 years, the Feds desperately tried to prop up the markets by pumping trillions of dollars into the markets and severely cutting interest rates.  Cutting rates to zero and flooding the market with funny money badly devalued the U.S. currency, sent us spiraling into record debt, and killed savers by lowering the savings rate to zero.  But with the global economy still on terribly shaky ground and interest rates already at zero, do the gov’t & banks have any ammo left?  Shockingly, yes!

The government & banks are moving quickly to impose a series of Draconian measures to prevent you and me from storing our money in cash or using cash in any way.  What’s their real agenda?  To abolish cash altogether and force us all into the digital world controlled by the gov’t & banks.  Luckily, there’s still one way to escape the tyranny.

Stage 1:  The Gov’t & Banks Tax Your Savings

When economic conditions worsen, world banks react by reducing interest rates in order to stimulate the economy.  But there comes a point when those central banks run out of room to cut, because interest rates are already at zero.  So the answer for world banks is to impose negative interest rates.  This means that instead of getting interest on your savings, you actually PAY BANKS to keep your savings on deposit.  In other words, you pay tax on your savings.  So you actually LOSE MONEY every day you keep your money in the bank.

So, what would any reasonable person do when the bank steals their savings every single day?  Pull their money out of the bank, of course!  Physical paper money provides the check against negative interest rates, because if the bank takes your savings, you can simply withdraw your funds and hoard cash.  Furthermore, when you inevitably lose faith in the banking system, physical paper money allows you to pull your savings out of the bank before the bank collapses.

Stage 2:  The Gov’t & Banks Abolish Cash

But if you think pulling money out of the bank is going to be so easy, think again.  Willem Buiter, the Global Chief Economist for Citi, has now come up with an answer to prevent you from pulling your money out of the bank:  abolish cash entirely!  You read that right.  The Global Chief Economist from one of the largest banking institutions in the world is now telling the gov’t & banks to abolish the use and private storage of YOUR cash.  And guess what?  The gov’t & banks are following orders.

Major publications like The Washington Post and New York Times have now reported on unconstitutional government seizures of millions in private citizen wealth.

Major publications like The Washington Post and New York Times have now reported on unconstitutional government seizures of millions in private citizen wealth.

Government & banks around the world are taking swift action to abolish the use and storage of cash:

  • JPMorgan Chase recently informed customers that the bank will no longer allow cash to be stored in safety deposit boxes.
  • Chase instituted a new policy which “restricts borrowers from using cash to make payments on credit cards, mortgages, equity lines, and auto loans.”
  • The Justice Department has ordered bank employees to consider calling the police on customers who withdraw $5,000 dollars or more.
  • HSBC is now interrogating its account holders in the UK on how they earn and spend their money as well as restricting cash withdrawals for customers.
  • Banks in the U.S. are making it harder for customers to withdraw and deposit cash, with Chase imposing new capital controls that mandate identification for cash deposits and ban cash being deposited into another person’s account.
  • Chase banned international wire transfers while restricting cash activity for business customers (both deposits and withdrawals).
  • The French government announced it will restrict French citizens from making cash payments over €1,000 euros.

Stage 3:  The Gov’t & Banks Seize Your Cash

chase

As the U.S. spirals toward insolvency due to massive over-spending and Fed money-printing, the U.S. government is pulling out all the stops to gain access to your money – no matter where it is across the globe.

First, the banks willingly started reporting millions of its legal customers cash transactions to the gov’t.

Next, the government started seizing citizen bank accounts with no due process.

Then, the IRS threatened foreign nations and financial institutions across the globe to turn over your private data and financial accounts, with the threat of financial warfare if they don’t comply.

And ultimately, the Department of Justice and local police started seizing cash from innocent citizens.  That’s right, the executive branch of government has been aggressively taking citizens cash without due process of law.

So in short, your ability to take your savings out of banks and storing it in cash is coming to an end.  And even if you do take possession of your savings in cash, how secure do you feel when the government comes knocking on your door asking about your stockpile of cash?

If our government is going to these lengths to track down your money and even confiscate citizen savings without due process, isn’t it much easier to track and control digital accounts than cash? Yes.  So how does the government remedy this challenge? Join the banks in a war against cash.

 

 

 

 

 

 

Related:

Options: Convert Your Savings into Gold & Silver

Do you want to remain vulnerable to the whims of government & banks, or do you want to fully protect your savings & retirement? To get true protection, there’s one asset class that sits outside the system, is completely private, and cannot be tracked and controlled by the government or banks: physical gold & silver.

Physical gold & silver have been the world’s greatest wealth protectors for over 5,000 years, shielding citizens from government & banking collapse during the worst crises in history. And physical gold & silver cannot be instantly seized with the stroke of a keyboard. So invest in gold & silver now, before you have nothing left to protect.

Why Government Hates Cash | Mises Institute

How Police Officers Seize Cash From Innocent Americans

Forfeiture Endangers American Rights (FEAR)

Alarming Gov’t Plan To Confiscate Your Savings | For Economic Justice

The Next “Lehman Moment”… Coming in 2017? – The Daily Reckoning

New stimulus plan – Four Winds 10

A Severe Worldwide Economic Recession in 2016-2017

Buffett’s $55 Billion Gamble is a Bet on U.S. Collapse, Warns CIA …

The War on Cash Escalates as Cash is Forbidden in Deposit Boxes

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