Interview 1132 – Kerry Lutz Reports on the War on Cash
Podcast: Play in new window | Download | Embed
Kerry Lutz of FinancialSurvivalNetwork.com joins us today to discuss the war on cash. How long has it being going on? How does it manifest in our daily lives? What will it mean for the future of our NIRP-driven central bank-controlled economic future? And how do we hedge against it?
SHOW NOTES
FinancialSurvivalNetwork.com
The War on Cash: A Country by Country Guide
So It Begins: Bloomberg Op-Ed Calls For An End Of Cash
40% of Americans carry less than $20 in cash
Filed in: Interviews
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
And, on top of this, we have a huge amount of establishment-controlled corporations and media promoting the use of “Bitcoin” – and, unfortunately, also a lot of people who are anti-establishment that are falling into this last fallacy of an (immensely insecure and non-free) “alternative” to real/physical money.
Please, read: https://www.corbettreport.com/whos-afraid-of-p2p/#comment-28176
Again, beware of “electronic currencies”, such as Bitcoin. And, inform yourselves about something on the Internet called “deep packet inspection”: https://en.wikipedia.org/wiki/Deep_packet_inspection
Re: interview # 1132
1. In the late 60’& early 70’s I was shown rooms & rooms stacked full with crates of new bills in the Chicago Fed Res. I wonder now?
2. In the 70’s or 80’s ” turn in your D.M.” [dirty money]?
3. Did Pres Kennedy issue silver certificates?
4. What ever happened to Pres Lincoln Green Back {non debt money}?
I think some of the war on cash might be to allow the banks to go to negative interest rates. People won’t be able to take their money out of the bank so it will just be a fine. I guess that would also make people spend faster (to lower the amount of money they fine us on).
Another motivation for banks to reduce the amount of physical currency is the cost. Storing it, transporting it, etc. I can see how cash deposits in consumer and commercial banking allow them to leverage it through fractional banking. Rubin abolished the Glass-Steagall act which may give investment banks an advantage when they acquire a consumer bank such as Washington Mutual. Economics professor Richard Werner says that banks exemption from “client money privilege” allows them to go beyond the fractional system and literally create money by re classifying a accounts payable liability as a customer deposit without any dispursment of funds. I definitely like the idea of working on skills that would be generally needed. Remember that on April 6, 1933 Roosevelt issued “Executive Order 6102” forced people to sell their gold for $20.67. I do not think that this order was rescinded until much later (need to verify the date) It may be more difficult to deposit your money in foreign banks due to FACTA ( Foreign Account Tax Compliance Act of 2010)(similar name as another credit reporting). I have aquaintences in China who are paid in cash for teaching English language. They say that debit and credit cards are not used by most people in China. I think that people in densly populated areas and areas with a lot of poverty will be affected the most by any period of crisis. Living in a community where people know each other and help each other out would be the best. Also, remember what happened to citizens of Argentina in 2001. Their deposits were frozen and stored as government bonds. A bit later they were allowed small withdrawals. Watch Naomi Klein’s documentary about this.
I’m pretty sure James you said you wanted this to be an open source investigation. Maybe there should be a link on the front page so people can easily get to this page?
Not that the link below is the most critical but it’s interesting to see how the propaganda works. Obviously the Superbowl is a huge event so Yahoo slipping in a line about how paper money is going to be antiquated (in the 2nd paragraph below) is going to get a lot of reads.
========================================================
https://ca.news.yahoo.com/future-fans-live-super-bowl-not-watch-070440886–nfl.html
Future fans will live the Super Bowl, not watch it
SAN FRANCISCO (Reuters) – In 2066 when the Super Bowl celebrates its 100th anniversary fans will not just watch the National Football League’s championship game – they will live it in all its bone-jarring virtual reality glory.
No longer a parochial pastime, futurists believe American gridiron will be a global game with franchises from London to Beijing, concussions, like paper money, will have disappeared and fans will swarm stadium concession stands at halftime for a puff on legalised marijuana or to sip on $100 beers.
========================================================