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GoldSeek Web

The "War On Cash"

 -- Published: Tuesday, 9 June 2015 | Print  | Disqus 

By Craig Hemke

A collection of items here to make certain that you are aware of what is happening and where this is headed.

Every day, it seems that the calls to "eliminate cash" grow louder from the politicians and banking elite. Why, first and foremost, in a world of negative interest rates, savers have zero incentive to keep cash within the banking system. However, by removing cash from their accounts, savers effectively deleverage the current fractional reserve banking system. As you know, this system is barely able to stand on its own two feet in the first place so any additional stress placed upon it by a drain of cash reserves could be catastrophic.

Of course, there are other factors in play as well. Removing cash from the public's hands and moving toward a "cashless society" is just another step toward financial and political authoritarianism. Control cash and you control commerce. Control commerce and you control the masses. It's slightly more complicated than that...but not much.

Therefore, in an effort to keep you in tuned with this very real threat to your remaining liberty, please see the links and posts below. First, this great article that I picked up from ZeroHedge last weekend. It was written by Bill Bonner of Bonner & Partners and it is extremely important that you read and understand it.

Next, watch this clip from The Glenn Beck Program. This interview of Jim Rickards was recorded last month. Watch the entire thing but pay particular attention to the discussion at the 7:45 mark and beyond. (And please don't get sidelined by your personal feelings toward Beck or Rickards. Put them aside and listen.)

Finally, I scoured the recent archives of ZeroHedge and found these two links. Please read them both so that you understand how this idea of a "cashless society" is gaining momentum among the politically and financially powerful:

Again, only gold and silver are real money and have been accepted as such for millennia. Yes, it's is a good idea to hold some fiat cash as part of your emergency preparations. However, it is far more important that you hold physical gold and silver as this form of money cannot be debased and/or devalued by financial thieves and government bureaucrats.

I've stated repeatedly in the past few months and I'll state it again now:

Your physical precious metal is quite likely down in fiat-conversion price from where you bought it. I know that this has been painful to endure as I am in the same boat. However, your physical precious metal has never been more valuable than today. Understand why you own it and continue to prepare for The End of The Great Keynesian Experiment.


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