The War on Cash - What is the Purpose?

You may have read recently that JPMorgan Chase no longer allows cash to be stored in their safety deposit boxes. JPMorgan Chase to Prohibit Storing Cash

I also came across this article this morning, and wanted to open up a discussion with my ATS friends to get your thoughts on this.

Despite advances in transactions technologies, paper currency still constitutes a notable percentage of the money supply in most countries… Yet, it has important drawbacks. First, it can help facilitate activity in the underground (tax-evading) and illegal economy. Second, its existence creates the artifact of the zero bound on the nominal interest rate.

So the government doesn't want people to make transactions with out having an electronic record of the inflow/outflow of wealth. And because the government wants increased monitoring of everyone's activities (because there isn't enough already), the lobbyists and corporate "diplomats" are of course pushing this agenda on the business and public sides of things.
Keep in mind, that when you purchase something with a card/account tied to your name, you are also leaving an account of where you were at the time that the purchase was made. This information is used in all types of cases, but from what I can tell TPTB are really pushing for a cashless society because it will be so much easier to monitor people and gather evidence on them.

Without cash, we would live in a much safer, less violent world with enhanced social cohesion, since the major incentive fuelling all illegal activity [i.e. cash]… would disappear.”

Wolfstreet Article

This also made me think of the articles coming out surrounding Wal-Mart's partnership with DHS and having facial-recognition software being used in their stores. It just seems that the Orwellian society is officially here, and now that that's the case it won't be going ANYWHERE.

I see a cashless society as one where it is more difficult for many types of criminal activity to take place, but it is also a double-edged sword because it means less privacy, more control and more surveillance. It allows those in control to further skim off the top, on each transaction. This is sketch sketch SKETCH. I thought I would post about this topic since it has some very big implications and ATS has a lot of bright/deep thinkers. Thanks ATS fam

a reply to: FamCore

If you take away cash you take away the last means of financial self-sufficiency because every other means of purchasing or selling can be withdrawn from you at the blink of an eye with the cash machine stealing your card.

It also means everything we do is tracked by sinister agencies or nosy wanna sell you stuff we think you need- cos you bought it before and we spied on your doing it.

Our privacy and freedom of action are totally up for grabs with this stealth slavery. We should fight it to collapse the control of the banks and government scrutiny agencies - unless we really want, within our hearts, to be slaves.

a reply to: FamCore

It's an effort to make your dollars truly worth NOTHING.

Money used to be valued based on something you owned. Like gold or silver. Now the confidence of the consumer, and a very few select people who 'trade' on the stock market determine the value of the dollar.

This is robbery. It simply allows them to manipulate the currency even further. They certainly aren't doing it to put more money in your pocket either.

~Tenth

For the government to truly control our finances and curb illegal activity. They will also have to take away The right to own precious metals/minerals such as gold, Silver, diamonds and emeralds etc.

a reply to: tothetenthpower

You hit it on the head, Tenth.
Money is a belief system now. The reality is there is no true backing for anything anymore. Everything is just assigned a value that is determined by a select few and those same few create "wealth" from changing those values.
It is the Big Lie "they" don't want you to know about.

A cashless society will destroy second hand markets. They will make it difficult to do so, and for those that can taxes will be taken every time an item is sold. Can you imagine if the government could tax the same item five, ten or even fifty times ?
If you believe that they are doing this for YOUR benefit then you are braindead. Same old story, money money money. And only for the already rich. Makes me want to PUKE.

originally posted by: Greathouse
For the government to truly control our finances and curb illegal activity. They will also have to take away The right to own precious metals/minerals such as gold, Silver, diamonds and emeralds etc.

"They" don't have to take away anything. All they need to do is change what people believe the value of said precious metal, pork belly, frozen concentrated orange juice is in order to get the herd to follow. Then "they" make windfall profits on that Based on nothing but perception.

a reply to: FamCore

THe problem is that relatively mundane things that ultimately have zero effect on me are classified as "crime".

Unless being cashless will stop murders, rapes, and kidnappings....no. Because if we are being honest, that is really all that really is crime. Maybe theft, too.

And even with murder...if its gang on gang murder, its not really murder. Its suicide by stupidity. Im not sure that is really crime either.

a reply to: FamCore

Personally I think it is about tax more than anything else.
Criminal behaviour will still carry on in any future cashless world, just it will be masqueraded to the tax authorities as a fictitious legal product or service by criminals and then taxed. That's exactly what I would do anyway.

Yep, the hundreds of millions lost to the government in cash only jobs/services/businesses is the motive I see, that, and of course the detailed information of who trades with who, when, where, and how often.

I don't see cash realistically going in my lifetime though. It is a useful tool for governments to purchase their own criminal services as well, so unless it is proposed as a worldwide plan I don't see any country going it alone ditching cash.
What I imagine before that will be laws forcing us to register cash payments received/paid out via a mobile app or something like that. Customers then demanding digital receipts for cash payment as the new law would require.
No need to ditch the cash then because the masses will comply and refuse to pay cash without such digital receipts being provided by the trader.

originally posted by: the owlbear

originally posted by: Greathouse
For the government to truly control our finances and curb illegal activity. They will also have to take away The right to own precious metals/minerals such as gold, Silver, diamonds and emeralds etc.

"They" don't have to take away anything. All they need to do is change what people believe the value of said precious metal, pork belly, frozen concentrated orange juice is in order to get the herd to follow. Then "they" make windfall profits on that Based on nothing but perception.

The premise I was talking about was monitoring people through electronic transfers/purchases. If you deal in gold and silver on the black market or make your regular purchases by such means they cannot monitor that.

a reply to: FamCore

It`s for the criminal activity of the governments themselves...

Google Translate :

"If cash is abolished, no one can resist negative interest"

All empires run on the backs of their slaves and slaves cannot be allowed to hold any objects of value, lest they buy their way out of their slavery and perhaps even infiltrate the ranks of the masters. As a the masters of any nation that devolves into the slavery grow greedier by the day, their desire to keep the cost of maintaining slaves at the absolute minimum (and profits at the absolute maximum), will result in the elimination of all tangible assets in the hands of the peons. It's a shame that there is no longer anyone in our government that represents We The People, only Them The Masters. It is a real life Doom scenario devolving as every day goes by as George Carlin used to say:

www.youtube.com...

Funny how you can print money that doesn't exist and go to jail, but when the bank does the same and lend it out with interest, it's perfectly fine.

Most people don't get this but when you decide to go to the bank and "borrow" some money, they simply type the amount into your account. Nothing else. Money created from nothing. Same goes for mortgages. You're just signing up for slavery. And when the currency is crashed, everything you worked for is gone.

The first reason is completely BS. If you are a small man with minimal money, yes, You can probably evade some tax. But by comparison the miniscule amount an ordinary man can evade is nothing compared to the amount rich people evade. The lie is that rich need paper money to evade their tax. They don't. Their wealth is just figures on paper. This is done by manipulating figures on books and sheets, move a few noughts here, move a few noughts there. It's really quite simple as the person getting away with the tax evasion does not even have to touch any money at all as he pays someone else to do it for him.
This is all about taking away your power of your disposable income. With cash in your hand you decide when to spend it and on what, or not spend it at all and hoard it. Either way they can't get their hands on it and that's what they don't like.

a reply to: crayzeed

And they also hate the idea that any of us can actually save or put money away for unforeseen future needs. Without savings of any kind, we are all completely vulnerable to any sudden or drastic changes in the cash flow system.

Accountability for us none for them. Tracking the money or following the money is how accountability in government is used to detect fraud or criminal behavior. Without it, who will oversee spending on lobbyist, campaigns, budgets, ect...

So went the gold for the dollar, to expand the empire and debt, so goes the dollar for digital currency to most likely do the same.

Out of sight out of mind...

Perhaps it is about getting us another step closer to implementing the so called "Mark of the Beast"?

a reply to: FamCore

I did see a video by Karen Hudes a while back in which she said there was going to be a roll out of new money in which there would be a thin gold strip in the note envelope. Sounded very odd for her to go out on a limb and say something like that but perhaps there is some truth to it and perhaps they are starting to collect it up and ready for the change over. mind you, dont see why they would really need to do that either.

originally posted by: sayzaar ... Can you imagine if the government could tax the same item five, ten or even fifty times ?
...

Don't they already do that with the money itself? I mean they tax you when you earn it, they tax the remainder when you spend it, okay that's not so bad but here's the rub, the next person who pockets your dollars as profit, they will pay taxes on it as their income and then again when they spend it. This little cycle quickly devalues the dollars as they float in and out of various hands and really speeds up the inflation model in my opinion. Now tax the same item over and over on top of that and inflation would skyrocket at an even faster out of control rate. At least that is how I see it.

originally posted by: FamCore
You may have read recently that JPMorgan Chase no longer allows cash to be stored in their safety deposit boxes. JPMorgan Chase to Prohibit Storing Cash

I also came across this article this morning, and wanted to open up a discussion with my ATS friends to get your thoughts on this.

Despite advances in transactions technologies, paper currency still constitutes a notable percentage of the money supply in most countries… Yet, it has important drawbacks. First, it can help facilitate activity in the underground (tax-evading) and illegal economy. Second, its existence creates the artifact of the zero bound on the nominal interest rate.

So the government doesn't want people to make transactions with out having an electronic record of the inflow/outflow of wealth. And because the government wants increased monitoring of everyone's activities (because there isn't enough already), the lobbyists and corporate "diplomats" are of course pushing this agenda on the business and public sides of things.
Keep in mind, that when you purchase something with a card/account tied to your name, you are also leaving an account of where you were at the time that the purchase was made. This information is used in all types of cases, but from what I can tell TPTB are really pushing for a cashless society because it will be so much easier to monitor people and gather evidence on them.

Without cash, we would live in a much safer, less violent world with enhanced social cohesion, since the major incentive fuelling all illegal activity [i.e. cash]… would disappear.”

Wolfstreet Article

This also made me think of the articles coming out surrounding Wal-Mart's partnership with DHS and having facial-recognition software being used in their stores. It just seems that the Orwellian society is officially here, and now that that's the case it won't be going ANYWHERE.

I see a cashless society as one where it is more difficult for many types of criminal activity to take place, but it is also a double-edged sword because it means less privacy, more control and more surveillance. It allows those in control to further skim off the top, on each transaction. This is sketch sketch SKETCH. I thought I would post about this topic since it has some very big implications and ATS has a lot of bright/deep thinkers. Thanks ATS fam

After reading the Wolfstreet article, several issues presented themselves to me.
First, you'll note that so many of the people quoted in that article talked about the fact, (if it truly is a fact), that eliminating all cash would eliminate many forms of crime. There are two major problems the world faces today. One obviously is the illegal drug trade and all the violence attendant with that trade. As we know, the illegal drug trade is almost entirely conducted in cash and huge volumes thereof. So, I'm guessing our Elite Controllers, who abhor competition, believe they can effectively strangle the illegal drug trade by eliminating cash as the currency for the trade.

The second huge problem the world faces is the fact, (and it is a fact), is absolutely awash in small arms, principally speaking, the AK-47 and/or its variants. We've all noticed for example that terrorist groups around the world are incredibly well armed with AK-47s, ISIS, Boko Haram, the Houthis in Yemen, Syrian rebels, Armies in Libya, and the Narco armies of Mexico and South America. And of course, those small arms find their way into Europe, hence, the huge cache of arms the Charlie Hedbo attackers had amassed through the European Black market. We are talking Hundreds of Millions of these AK-47s and the ammo to go with them. No one has figured a way to sop up all those weapons off the black market. So the easiest way to stop the trafficking in these arms and munitions would be to eliminate cash as the currency for those transactions.

Of course, everyone before me who has commented on the "control" and tracking of ordinary citizens transactions are precisely correct. For the US Elite Controllers, i.e. Corp Gov, a cashless society is a dream come true. They can easily track your every spending habit, how much you buy of one item or another, how much you save, where you spend your money, etc. And they can easily criminalize activities to get you into their criminal justice system. So, for example, suppose you're a beer drinker. They pass a law making it a federal crime to lie to your doctor because, after all, with Obamacare, the doctors are now effectively Agents of Corp Gov. So you go in for your federally mandated physical and the doctor has you fill out a form about how much you drink on a daily basis. You say 3 beers a day when in fact its 6~8 beers a day. The Doctors clerk/admin then pulls up a panel on the computer that tracks your Kroger purchases of 24 Can cartons of Miller light, how many days between purchases...does the math and averages out your beer consumption. You lied on the form...she calls the cops and off to jail you go for trial and your sentenced to 18 months at the State Felony Jail facility.

But wait, there's more...they can also figure out how much "disposable" income you have, i.e. how much money you have left over at the end of the month to buy the stuff you love, otherwise known as discretionary income. Too much discretionary income is a big problem for the Corp Gov Elite Controllers because if you "save" that money, you could ultimately become "independent". You might one day not be a wage or welfare slave. If they see you "saving", they can charge you interest with negative interest rates for "parking" money in a checking account, or...better yet, they can calculate that you aren't spending enough, (or being charged enough), for electricity or gasoline, or health insurance, so they can calculate higher rates for you to pay so you have far less disposable income.

Discretionary income is a big problem for the Corp Gov elites at the moment because an excess of Discretionary income causes "slack" in the economy that is expressed as a low volatility rate of money supply. Excessively low volatility of money means the money isn't "working", its not changing hands enough...it isn't going anywhere, its parked in dark pools of excess cash reserves. And that leads to a condition known as Deflation, but that's a story for another day. For the last few years, the Fed Reserve Bank has pumped trillions of dollars of free money into the system, (Banking and Financial system) to offset the horrendous losses those banks took back in 2008/2009 at the height of the crash. However, since then and particularly for the last few years the volatility of money has fallen precipitously. See: research.stlouisfed.org...

To the Fed, this is something of a mystery. They can't figure if the money isn't changing hands because the Banks aren't lending or if its because Borrowers, (Commercial Borrowers that is), aren't borrowing money from the Banks.

Any way...I'm outa space.
Thanks.