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Old 09-29-2019, 10:29 PM
Danny B Danny B is online now
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,886
Going cashless to enforce NIRP. CEO pay

The Graham leach Bliley act gave all your money to the bankers so that they could front-run you an buy up everything. The carbon taxes will be channelled through the banks. Same for all the marijuana tax money.
"Other key drawbacks of cashless payments systems is that they de facto undermine the key role of money as a store of value. "
"Cash and monetary assets, such as gold, cannot be expropriated or bailed-in as long as they are held in physical form and under proper storage. " "Finally, cashless / electronic accounts represent a significant, and ever expanding in scope and size threat of cyber attacks and cyber crime. "
"ather, it is to do with government control and distrust of markets and individual freedom and it is to do with uber Keynesian economics and corporatism which supports banks and large corporations at the expense of the individuals"

"n 2015 the UK contributed 43% of the total card losses seen across Europe. Losses through card fraud totalled £88.5 million, attributed to the ‘growth in online spend and the digital revolution’ . Credit card fraud and attacks on food and beverage transactions climbed by 116% (yoy) in the last quarter, according to the Global Fraud Attack Index."
"Yet as much as economists and governments would like to blame cash-based money-laundering as a reason to go cashless, in the UK it is not as big a problem as cyber money laundering."
"There was a three-fold increase in mobile malware in the last year, according to the FT, as hackers target mobile-banking applications and payment apps."
"Whilst cash transactions might be falling the demand for banknotes is climbing. The Telegraph reports, ‘the demand for banknotes has risen faster than the total amount of spending in the economy,"
"The problem is, if the government and banks are able to push through an infrastructure that doesn’t support cash then it doesn’t really matter what people think. If their cash is suddenly null and void then their concerns about human rights have become a bigger matter entirely."

"t seems logical and quite obvious to most that one of the primary reasons that some central banks are striving for a cashless society is to pave the way for deepening negative interest rates. Once all of your money is in the digital banking system you can get ready for it to be frozen, taken to fund a bail-in and even taxed."
"But, in a cashless society if banks decide to impose negative interest rates account holders will not be able to access their money and this is hugely advantageous, to the banks."
Jens Weidmann, president of the Bundesbank “It would be fatal if citizens got the impression that cash is being gradually taken away from them.”

Armstrong; ANSWER: That is one of the reasons the Deep State is fighting so hard to remove Trump. They simply believe it will take a seasoned Bureaucrat to sign such a bill. That said, a cashless society will be arriving in Europe before it will appear anywhere else. You must understand that all governments are in their death throes. Instead of stepping back and looking at this from a practical perspective, they remain fixated on their debt crisis that is propelling them to raising taxes. They firmly believe if everyone paid their taxes, they would have no problem. Of course, that is a fantasy. Whatever they collect will NEVER be enough to sustain their power.

In Europe, there is already the tradition of cancelling their currency. This is done to prevent people from hoarding cash and not paying taxes. This was a step in the direction of a cashless society for it was intended to add risk to accumulating cash and not paying taxes. Hyperinflation only takes place when confidence in government collapses. When governments are on the hunt for taxes, you actually get the opposite — DEFLATION. This is when people curb their investments and hoard their wealth.
The elimination of physical money presents a new twist to the historical record. Hyperinflation in the classic sense becomes impossible for there is no printing of money to pay bills in that sense. Assets will rise in value reflecting the fear of government. That is the emotional equivalent to hyperinflation. Nobody will buy government bonds and capital will hoard and hide in assets whenever possible. There will no doubt arise a black market based upon a barter system. That is why I tend to recommend old silver coins that the average person can identify by a simple date."

Banning cash so you pay the bank to hold your money is what the IMF wants
"A recent IMF blog entitled "Cashing In: How to Make Negative Interest Rates Work", explains its motive in wanting negative interest rates — a situation where instead of receiving money on deposits, depositors must pay regularly to keep their money with the bank."
"a recent IMF staff study looked at how it could bring in a system that would make deeply negative interest rates "a feasible option".
The answer, it said, is to phase out cash.Cash acts as an 'interest rate floor'
When cash is available, cutting interest rates into negative territory becomes impossible."

Low-cost payment competitors are going to knock the profits out of the banks.
It has worked very well in China.

CEO pay vs workers pay.
"Companies keep lavishing astronomical amounts of money on chief executives, despite repeated studies which show huge pay doesn't equal huge performance.

One of those studies, by Morgan Stanley Capital International, looked at hundreds of the biggest companies in the United States over more than a decade.

It found those with the lowest-paid bosses outperformed those with the highest pay by around 40 per cent."
"Chief executive pay in the United States rose nearly 900 per cent between 1978 and 2012, a trend that Australia followed. "
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