-- Published: Thursday, 18 February 2016 | Print | Disqus
By Bill Holter
There were many questions to a recent interview I did last Friday (released Sunday) asking about what a "cashless" society would mean so I've decided to expand on it. As it turns out, the timing was very good (by mistake) because over the weekend Europe announced plans to discontinue the 500 euro note. This was immediately followed on Monday with a trial balloon by Larry Summers calling for the end to the $100 bill. You can certainly see where they are headed!
First, let's look at why they want to do this and then move on to what exactly it will mean to you and me. If we take Larry Summers at his word (something I hesitate to do!), discontinuing the $100 bill will hamper corruption and terrorism. He also talks about the use of cash for tax evasion purposes. It is said drug dealers would be put out of business if cash were banned. Maybe so but then you must ask yourself "who" is at the heart of supply and generates "dark" cash flow for funding? Wouldn't this be like shooting yourself in the foot?
As for terrorism, I agree there are some crazies out there who want to do some very radical things. However, I would ask you the following questions. How many "terror attacks" have actually been false flags? And who actually funds some of these terror organizations? Have you ever "followed the money" to see who actually funds ISIS or even formed Al Qaeda years ago? Enough said I think.
Now let's get to the REAL reasons to ban currency. First and foremost, those in power understand the viability to the current system is now very limited. In other words, they know the system is going to come down. On one hand the West has already passed legislation for "bail ins". On the other hand, how best would it be best to corral capital into these banks they know will be bailed in? Now your putting the dots together!
This all assumes a couple of things. First, is there even enough time left before the system goes upside down to corral cash back into the banks? Then, will the population accept it willingly or will they revolt? The answer to the first question I believe is "no". The system is so unstable (the East knows this), we can wake up any morning (probably a Monday) and find the markets cannot be opened.
The next question is whether the population will accept it? If markets have already seized up, I think the answer is a resounding no. Who, no matter how oblivious they are would give up their cash if they've already seen the banks bail in their balances? The problem of course is whether or not the currency even retains any value in the event of a collapse (no)? If the ban on cash were to come quickly and before collapse, I believe the American public would be split. Many, (me included) would not go for it, others would go along with it just as Bostonians allowed the police into their homes with no resistance. On this point, I am not sure what the reaction would be if the current chewing gum cobbling the markets together does hold. After the collapse it will be a moot point as the "acceptance" of paper dollars may only last two weeks to a month. For this reason, I do not believe we will go cashless until AFTER a collapse as we will "need" a new currency (digital or not). However, any new currency will necessarily be backed by something (gold?) to create confidence.
When you break this down, the real reason for a cashless society is "control". What would people do if interest rates went negative? This is a very good question because it is the only policy option left for central banks. There would be a run on the banks and people would simply withdraw their cash. This would mean people moving out of the system instead of staying in the ringed fence area. A run on physical cash poses big problems for our planners, and "why" they will try to do away with it.
Without "cash", the public will be at the mercy of those pushing and pulling the levers. Your account could be frozen for any reason. Your account could be stolen for any reason. In other words, by banning cash they are throwing away "the key" to your exit door and control of the masses becomes simple. I use the word "simple" because without "money" you cannot purchase food. Here in the U.S., we are no longer farmers. Instead we just go to the grocery market and get what we need or want. If someone had "control" over the availability to your money, they have control over your food ...and ultimately YOU AND YOUR FAMILY!
We did receive some questions like "what good will gold and silver do if there is no cash to trade for?". I would first say, any time something is banned or outlawed, the value always goes higher in the black markets. This is what spawned the bootlegging and moonshine industries. Just ask NASCAR and the Kennedys! More importantly, gold and silver will still be valued and coveted in the East, if you have some metal outside of borders prior to capital controls you will be able to take advantage of this. Further, a cashless society being created to hide collapse will NOT prevent the collapse, ie. the tree still fell in the woods even though no one heard it. Some sort of financial system will necessarily rise like a Phoenix from the current one, gold and silver will have value and will finance the re start. Unless 5,000 years of history is turned upside down, you can bank on this.
As for the title "The Mark of the Beast", I referred to this in my last interview. This situation of not being able to conduct commerce without the "mark" was briefly written about in the Bible. It was described in Revelations. Is this description not one of a "cashless society"? How will one do business if they have no "card" (mark) or in today's world maybe even an implanted RFID chip? I find it incredible that writings from a time even before the printing press was invented, anyone could opine or even speak of a cashless society. From a human standpoint, a cashless society could only have been dreamed about over the last 30-40 years or so as the technology did not exist prior. I am not sure about you but even as a child in the 60's, if someone told me I could "put money in the bank" but someone (other than my Dad) could control how much or whether I could take it out, spend it or use it ...my bank account would never have been opened in the first place!
I have taken some heat recently and been accused of trying to turn my blog into "the God channel". Mentioning "the mark of the beast" will probably bring further such comments. I write what I write out of logic as that is the way my mind works. If my logic in financial affairs or economics is wrong, please tell me how or where you believe it is faulty. Please don't tell me I am an idiot because I am a Christian and some "big eye in the sky cannot exist". This country was originally formed because of religious and economic persecutions. If you disagree with my faith, either ignore it or please allow my logic to stand on its own and attack that, not the messenger.
The fact is, "good and evil" do exist and we are now facing evil factions trying to control us by controlling our access to savings from our past labors and investment. Please understand, this is not only about control but also about "cloaking" what they are doing. Money supply and indebtedness can then be hidden, altered, changed or whatever they choose from behind the scenes. Doing away with cash has nothing to do with "convenience" for you or "protecting you" from terrorists, it has everything to do with snapping a leash to your life's collar!
Standing watch,
Bill Holter for;
Holter/Sinclair collaboration.
Bill Holter writes and is partnered with Jim Sinclair at the newly formed Holter/Sinclair collaboration.
Prior, he wrote for Miles Franklin from 2012-15. Bill worked as a retail stockbroker for 23 years, including 12 as a branch manager at A.G. Edwards. He left Wall Street in late 2006 to avoid potential liabilities related to management of paper assets. In retirement he and his family moved to Costa Rica where he lived until 2011 when he moved back to the United States. Bill was a well-known contributor to the Gold Anti-Trust Action Committee (GATA) commentaries from 2007-present.
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-- Published: Thursday, 18 February 2016 | E-Mail | Print | Source: GoldSeek.com
