Connecting the dots in the world of finance and investments is an incredibly difficult project. Part of the reason is that the operations of many of the major market participants are opaque.
The Federal Reserve, for example, simply refuses to release much of its data even to congressional committees, although in a fit of what must have been absentmindedness, they have let it slip that they do manipulate the markets and that their ability to do so might be coming to an end. In fact they not only warned of coming economic crises once, they did it twice.
Another problem is that the accuracy of economic data is rightly called into question. Even if government agencies could measure these statistics correctly, the is much reason to believe that the data released to the public is “massaged” to support a political agenda and to postpone a market crash. Other market participants have a vested interest in releasing fraudulent data to cover their tracks, or to set up other investors in order to clean them out.
The hope is that things will continue as they have. But that hope eventually fails.
Economic and market crashes do not happen in a linear fashion — or gradually at the same rate. Some event or confluence of events triggers reactions that accelerate as the collapse intensifies. At this point even the major market participants, the FED, and official intervention cannot save the economy from disaster. The crash arrives.
With this background, we can now examine the intensifying war on cash on page two.
This is Not Good..!!!
Buh bye citi bank. Losers. Boycott
Goodbye citi bank
Cash is virtually worthless. There is nothing to back it up since we were taken off the gold standard. The only thing that gives cash any value at all is the government’s “Promise” to honor it. And that isn’t worth much.
I haven’t verified the accuracy of this article, but if it’s true it falls right in line with the push for a cashless society. We are swiftly moving toward a system where cash will have NO value, in a world with one monetary system. You will not be able to buy or sell ANYTHING unless it is through the internet and the transaction is logged into the central database. You won’t even be able to buy the most basic necessities of life with cash. No food. No shelter. No clothing. Why? Because there will be NO cash. Money will be transferred in and out of your account through the system and no other way. The technology is here and being put into place. For quite some time now the financial industry has been steering us away from using cash and promoting the use of credit and debit cards in the name of convenience. There was one particularly blatant Target commercial depicting a check out line running like a well oiled machine, until someone wanted to pay in cash. Then the whole operation ground to a halt until after the cash transaction was done. Then it resumes its HIGHLY efficient operation. Now they are constantly touting the “smart cards” with the built in chip. This chip holds vastly more personal information than the old magnetic strip.
I agree Martin Hauk, I’m thankful that the government didn’t choose rocks as a form of currency!
I actually heard all of this on a talk radio station I asked myself how can we be so stupid to let this happen
Don’t deal with Citibank anymore
It won’t be forced on us, rather it will be sold to us. Just look around and you will see that the financial industry is encouraging the use of cashless money transfers at every turn. The endless credit and debit card commercials and the de-emphasis of using cash. Take a check to the super market and you don’t even need to fill it out. They just scan your blank check and debit your account and hand you back the blank check. We, as a society, are getting quite accustomed to doing business this way, and this just leaves just a few short steps to eliminating cash altogether.
Against federal law. Read any bill (paper money) “legal for alll debts public and private” etc etc