Interview 1128 – Financial Survival in The Cashless Robotic QE Economy
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James joins Alfred Adask for their weekly conversation on Financial Survival to discuss the latest financial and economic news from around the world, including the cashless society takeover, the QE unwind and the rise of the robots.
SHOW NOTES:
The War on Cash: A Country by Country Guide
Not even the darkest minds imagined it would be this bad for China
China Injects Another $50 Billion Liquidity As Mysterious Panic Buyer Reappears In Offshore Yuan
A Whole New Level Of Moral Hazard: China Will Use Public Funds To Cover Venture Capital Losses
Wilshire 5000 vs. monetary base
Did Japan Just Prove That Central Bankers Are Effectively Out of Ammo?
Interview with Pepper the robot
Fed’s Bill Dudley: The Fed Doesn’t Fully Understand How QE Works
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I know some of you have inquired about my weekly conversation with Alfred Adask. I do still talk to him every week, but do not post that conversation to the site every week. I usually do several interviews a week on various outlets (Financial Survival, HoweStreet.com, Declare Your Independence, etc.) and only post them here if I feel they tread new ground or flesh out important context. However, you can always listen to my latest Financial Survival appearance via their website (my appearance is posted on Thursday):
http://archive.americanvoiceradio.com/!melody_archive.html
Also, when/if/as it’s feasible Broc and I will try to post these interviews to the Corbett Report Extras channel (assuming we’re not busy on other videos), so please subscribe to that channel if you haven’t yet done so:
http://www.youtube.com/corbettreportextras
Thanks for the update James. Didn’t realize this convo was still taking place. Looking forward to listening to this one. And thank you for filtering out and posting only the episodes you think break new ground. Very grateful for all your work and the care you put into this site. My favorite alt-news place on the web. (Though hoping newsbud reaches new heights when ready).
Well that explains your recent Skeptiko interview where you provided an epic singlehanded smackdown of D.r Wendt’s quite frankly retarded one-world-state argument.
I was kinda hoping to see that one show up here considering it’s effectively “Here’s the wrong way, now here’s the right way” in one interview. It’s like a concise recap of where people start and why they get to where we are now.
There is one thing rarely spoken about: who is buying US treasury crap China and others are selling? We are taking of numbers up to $1 trillion.
There is one article briefly addressing this question:
http://www.globalresearch.ca/impending-financial-collapse-declining-real-economy/5502211
If this is the situation that ESF (Exchange Stabilization Fund) is buying this trash, could we say that we have another QE(?) ?
James,
I admire the way you handle Alfred’s black-and-white framing of the subjects you tackle in this series. When someone asks you “is this A, or is this B?”, they by default leave out the options that it might be C, D, E or X. You gracefully don’t fall into these verbal traps, and and avoid these oversimplifications, focusing on the wider picture. You have the patience of a saint…
I did miss Alfred Adask, fantastic guy! And our financial advisor from Swizerland…
Fantastic work everytime! And btw everyone understands you need family time aswell, very important man. Do what’s good.
Peace
Bank Runs have begun in Italy!
Doom-porn at its finest.
It’s so sad that although many people accept that the main stream media is totally controlled, they don’t even suspect how controlled the alt-media is too.
people always need something to cling on to , and those running the show know this . sad is true .
great age-old rule is follow the money as they say , who benefits from the release. If you can have a true un-biased and non-self-interested opinion on it , you can usually find the gems among the filth . But then that is the hard part .
I recently heard about the ESF. Fascinating and powerful information and it’s been around for a few years.
I’m told he is missing. Take a listen!
http://www.zerohedge.com/news/presenting-exchange-stabilization-fund-5-parts-real-plunge-protection-team
This doesn’t belong here but is worth following.
http://www.allgov.com/news/top-stories/ex-cia-agent-convicted-in-rendition-case-to-be-extradited-to-italy-by-order-of-portuguese-court-160117?news=858123
So… in a cashless world, how will off-the-book transactions, the exchange of money for goods and services like crystal meth and prostitution, take place? The point of “off-the-book” is not to leave a trace. Without “dirty” cash, the CIA and the MI6 would go out of business!
Ha !! hence why it more then likely won’t happen , not in the way we are being led to believe anyhow. Although on the face front they want all the tax dollars and accountability of all peoples, on the reverse they also do need that stream of cash to come in from the other “sources” . Interesting .
Interesting it is. Scary as it sounds, total loss of privacy in commercial transactions would bring with it the end of crime… chimera of chimeras. Therefore, for a fully-cashless system to be implemented, the criminal Powers That Shouldn’t Be would have to engineer an indeed new and totally revolutionary manner of conducting their most obscure, murderous and filthy endeavors.
This is a major misconception about digital financing – that it is transparent. Nothing could be farther from the truth.
Actually all sorts of contraband is hidden and moved using digital transactions everyday.
For instance contraband cargo shipments can be “fronted” as “legitimate” commerce from central distribution centers like Chicago and Miami by creating bogus sales records and order forms, all digitally traceable, but with nothing to do with the actual physical contents of what was transported.
This happens all the time already in the digitized market, it would simply continue as it is.
It’s easy to hide criminal transactions in a digitized market.
The people who control the digital matrix can fudge anything they want with total impunity.
Actually, the best example of corrupt digital financing is the Pentagon.
They invented the internet, but they can’t handle digitized data properly?
The trillions of dollars that are unaccounted for in the Pentagon’s budget are not about “side-project” or contraband-earned funds. They are about congressionally appropriations funds.
How many Pentagon bills are paid for with cash?
But they can’t track their accounting system!
A totally cashless society will mean the total control over society by shadow gov’t.
Overlapping networks of organized criminal activity are already in place in civil service, law enforcement, corporate and business organizations and social networks including political and religious institutions.
Shadow gov’t is essentially organized crime, and they are already in control through the prevalent and ubiquitous digital marketplace. The total digitization of the market will only increase their power.
I was in Viet Nam and I wanted to buy an aeroplane ticket to Europe. I went to the Singapore Airlines ticket office in Saigon where I was told that if I wanted to pay for my ticket in cash I would have to pay an additional $30 fee. Could that be legal, after all I daresay cash is “legal tender for all debts public and private”? I don’t know Vietnamese law, but since I needed the ticket I didn’t hang around to debate the issue.
When I arrived in Singapore to change planes I wanted to call home. My mobile didn’t work in Singapore so I went looking for a public pay phone. In the whole of Singapore International Airport I could not find one single public telephone which accepted cash.
When I was a boy I was always told to carry a dime, just in case. That way I could always make an emergency call. So much for 20th century wisdom.
After I arrived at Amsterdam Schiphol airport I wanted to buy a train ticket to Amsterdam Central, but none of the many ticket machines accepted cash. I had to queue at the ticket counter. The service was slow and poor, obviously to “encourage” people to use the ticket machines instead. Only one out of about 10 counters there sold tickets for cash.
There was a bit of time at Utrecht station to make a connecting train. I went to a little shop on the concourse to buy some water and a cheese sandwich for my onward journey. They refused to accept cash. I was told that if I didn’t have a credit card, I would have to go hungry.
I finally made it to London. I had booked a room there in advance, but the booking could only be made by giving my credit card details in advance. I said I would pay cash in full on arrival. Their policy is: No credit card details, no room.
After I unpacked I went to Tesco to buy something to eat. There were about 6 counters for self-checkout, one for cash. I stood in the very slow moving cash queue. One of the workers asked me why I didn’t do the check-out myself and save time. I told him I was queuing in order to save his job. I said that his job was going to be taken over by a machine. He looked at me as though I was nuts.
Perhaps I am nuts, but I do not see these as isolated incidents. They all indicate a global war on cash. How can we fight this?
James, I hope your reports make more people aware of the dangers ahead.
The link ‘Bank Runs have begun in Italy!’ in the show notes is broken, Googling the title still gives the same broken link at the very top. Here is an alternative that works: http://www.theeventchronicle.com/finanace/bank-runs-have-begun-in-italy/#
Thanks for letting me know, Frank. I’ve replaced the link in the show notes with the one you provided.
The cashless society was originated with old fashioned credit cards and is actually a parallel development to the RFID chip and everything that means! In fact credit cards now have RFID’s built into them.
There are also other structural parallels, for instance between the networks of mob “protection” rackets in the restaurant industry and credit card marketing programs for the restaurant industry, but that’s a tangent here.
Most people rejected the bio-insert RFID chip when it first became public knowledge, but there are other ways of establishing this type of digitized tracking grid that seem unrelated at first glance.
Other parallel technologies that most people do not suspect as the basis for the panopticon society, which is the new totalitarian state are: cellular phones and computers (which are merging into one product); GPS; the smart grid, universal digitized medical records, all digitized telecommunications.
Once the digitized grid is complete, the vast majority of individuals will essentially be living in a virtual jail cell.
The few elite at the top of the corporate institutions that control the digitized matrix will structure everyday lives, reserving access and privilege for themselves.
It will take time to “normalize” this type of society; we are currently in a “normalizing” phase – little by little standards that redefine what is legal and what is socially desirable are being engineered through “progressive” new legislation, the media, education systems and political forums.
We are already living in this system, but it’s a matter of degree. I’m glad you mentioned that over 95% of transactions are already cashless – and even “cash” transactions are often traceable now with serial number readers and RFID technology that can actually be woven into dollar bills.
In a system like ours NOW, all sorts of “legitimate” institutions are actually very corrupt, with the elite capable of getting away with murder. Even our brutal penal system is not a matter of justice, but a total sham, and a form of social repression. The police and d.a.’s arrest and prosecute people overtly, but clandestine networks (often referred to as rogue elements) also persecute political targets covertly by exploiting the power of the digital matrix.
As “normalization” grows and cultural standards are shifted, more of the covert actions will become overt, as they will become the new normal.
Before Cheney reintroduced torture as “normal” it was largely not considered a politically viable argument. Since then the American Psychological Association has helped the CIA legitimize torture tactics. This is a parallel situation.
Ultimately, when digitized control over transgressive actions will be absolute and immediate many transgressive “types” will then be “justifiably” culled! – Overtly or covertly, according the prevalent norms at the time. Ironically “covert culling†is likely to rise while overt culling, which one could argue is currently – and relatively inefficiently – in place now through the end results of various types of brutal repressions, will likely be minimized to increase the perceived legitimacy of the system.
This system will be a type of “husbandry” of the human species, and could easily lead to an engineered splitting of Homo sapiens into two divergent gene pools and the development of a sub-species.
Social Darwinism is an entirely invalid concept. It is racism. In fact one could say that adherence to the concept of race itself is racism (in general “race†itself is not a scientifically valid category). Social Darwinism is not Darwinism, or the valid application of the theory of evolution.
The new digital based totalitarian state will be able to transform this general state of affairs, so that an actual sub species of humans, with any sort of phenotype, might be developed. The main genetic differences will be not be phenotype, which could be various, but neural, so that a “naturally” acquiescent class (a slave class) could be developed.
Welcome to the Digital World – no cash required.
This is an article in from the weekly news magazine ‘Der Spiegel’ from today 02-03-16, discussing that the German government considers to restrict cash transfers to be limited to 5000€…
http://www.spiegel.de/wirtschaft/soziales/bargeld-zahlung-bundesregierung-erwaegt-5000-euro-obergrenze-a-1075338.html
It might be that the article is found on their English website as well, but so far so good 🙂
Regards/A
Thanks for the tip. I’ve added an entry on Germany to the article with this information.
Question for Corbett listeners: Where do you go for trustworthy information regarding what to do with your money on a personal level? I know James is not a financial advisor, but is there anyone who adheres to James’ philosophies and world views that points to a practical guide to money management in these crazy days (QE, slowing international trade, low oil prices, etc)? Thanks, Zach