Best of the Week
Most Popular
1. US Housing Market House Prices Bull Market Trend Current State - Nadeem_Walayat
2.Gold and Silver End of Week Technical, CoT and Fundamental Status - Gary_Tanashian
3.Stock Market Dow Trend Forecast - April Update - Nadeem_Walayat
4.When Will the Stock Market’s Rally Stop? - Troy_Bombardia
5.Russia and China Intend to Drain the West of Its Gold - MoneyMetals
6.BAIDU (BIDU) - Top 10 Artificial Intelligence Stocks Investing To Profit from AI Mega-trend - Nadeem_Walayat
7.Stop Feeding the Chinese Empire - ‘Belt and Road’ Trojan Horse - Richard_Mills
8.Stock Market US China Trade War Panic! Trend Forecast May 2019 Update - Nadeem_Walayat
9.US China Trade Impasse Threatens US Lithium, Rare Earth Imports - Richard_Mills
10.How to Invest in AI Stocks to Profit from the Machine Intelligence Mega-trend - Nadeem_Walayat
Last 7 days
Why are Central Banks Buying Gold and Dumping Dollars? - 23rd June 19
Financial Sector Paints A Clear Picture For Stock Market Trading Profits - 23rd June 19
What You Should Look While Choosing Online Casino - 23rd June 19
INTEL (INTC) Stock Investing to Profit From AI Machine Learning Boom - 22nd June 19
Here’s Why You Should Drive a Piece of Crap Car - 22nd June 19
How Do Stock Prices React to Fed Interest Rate Cuts? - 22nd June 19
Gold Bull Market Breaking Out! - 21st June 19
Post-FOMC Commentary: Delusions of Grandeur - 21st June 19
Gold Scores Gains as Draghi and Powel Grow Concerned - 21st June 19
Potential Upside Targets for Gold Stocks - 21st June 19
Gold Price Trend Forcast to End September 2019 - 21st June 19
The Gold (and Silver) Volcano Is Ready to Erupt - 21st June 19
Fed Leaves Rates Unchanged – Gold & Stocks Rally/Dollar Falls - 21st June 19
Silver Medium-Term Trend Analysis - 20th June 19
Gold Mining Stocks Waiting on This Chart - 20th June 19
A Key Gold Bull Market Signal - 20th June 19
Money Saving Kids Gardening Growing Giant Sunflowers Summer Fun - 20th June 19
Investing in APPLE (AAPL) to Profit From AI Machine Learning Stocks - 20th June 19
Small Cap Stocks May Lead A Market Rally - 20th June 19 -
Interest Rates Square Minus Zero - 20th June 19
Advice for Financing a Luxury Vehicle - 20th June 19
Stock Market Final Blow Off Top Just Hit… Next Week Comes the FIREWORKS - 20th June 19
US Dollar Rallies Off Support But Is This A Top Or Bottom? - 19th June 19
Most Income Investors Are Picking Up Nickels in Front of a Steamroller - 19th June 19
Is the Stock Market’s Volatility About to Spike? - 19th June 19
Facebook's Libra Crypto currency vs Bitcoin: Five Key Differences - 19th June 19
Fed May Trigger Wild Swing In Stock Index and Precious Metals - 19th June 19
How Long Do Land Rover Discovery Sport Brake Pads Last? - 19th June 19
Gold Golden 'Moment of Truth' Is Upon Us: $1,400-Plus or Not? - 18th June 19
Exceptional Times for Gold Warrant Special Attention - 18th June 19
The Stock Market Has Gone Nowhere and Volume is Low. What’s Next - 18th June 19
Silver Long-Term Trend Analysis - 18th June 19
IBM - Watson Deep Learning - AI Stocks Investing - Video - 18th June 19
Investors are Confident, Bullish and Buying Stocks, but… - 18th June 19
Gold and Silver Reversals – Impossible Not to Notice - 18th June 19
S&P 500 Stuck at 2,900, Still No Clear Direction - 17th June 19
Is Boris set to be the next Conservation leader? - 17th June 19
Clock’s Ticking on Your Chance to Profit from the Yield Curve Inversion - 17th June 19
Stock Market Rally Faltering? - 17th June 19
Johnson Vs Gove Tory Leadership Contest Grudge Match Betfair Betting - 17th June 19
Nasdaq Stock Index Prediction System Is Telling Us A Very Different Story - 17th June 19
King Dollar Rides Higher Creating Pressures On Foreign Economies - 17th June 19
Land Rover Discovery Sport Tailgate Not Working Problems Fix (70) - 17th June 19
Stock Market Outlook: is the S&P today just like 2007 or 2016? - 17th June 19
US China War - Thucydides Trap and gold - 16th June 19
Gold Stocks Bull Upleg Mounting - 16th June 19
Gold Price Seasonal Trend Analysis - Video - 16th June 19
Fethiye Market Fruit, Veg, Spices and Turkish Delight Tourist Shopping - 16th June 19
US Dollar Gold Trend Analysis - 15th June 19
Gold Stocks “Launch” is in Line With Fundamentals - 15th June 19
The Rise of Silver and Major Economic Decline - 15th June 19
Fire Insurance Claims: What Are the Things a Fire Claim Adjuster Does? - 15th June 19
How To Find A Trustworthy Casino? - 15th June 19
Boris Johnson Vs Michael Gove Tory Leadership Grudge Match - Video - 14th June 19
Gold and Silver, Precious Metals: T-Minus 3 Seconds To Liftoff! - 14th June 19
Silver Investing Trend Analysis - Video - 14th June 19
The American Dream Is Alive and Well - in China - 14th June 19
Keeping the Online Gaming Industry in Line - 14th June 19
How Acquisitions Affect Global Stocks - 14th June 19
Please Don’t Buy the Dip in Nvidia or Other Chip Stocks - 14th June 19
A Big Thing in Investor Education is Explainer Videos - 14th June 19
IRAN - The Next American War - 13th June 19
Boris Johnson Vs Michael Gove Tory Leadership Grudge Match Contest - 13th June 19
Top Best VPN Services You Can Choose For Your iPhone - 13th June 19
Tory Leadership Contest Betting Markets Forecast - Betfair - 13th June 19
US Stock Market Setting Up A Pennant Formation - 13th June 19
Which Stocks Will Lead The Cannabis Rebound? - 13th June 19

Market Oracle FREE Newsletter

Gold Price Trend Forecast Summer 2019

Ushering In a Totalitarian Police State in Cashless “Smart Cities”

Politics / War on Cash Jan 14, 2017 - 04:53 PM GMT

By: Jeff_Berwick

Politics

From Scandinavia to Amsterdam to India and elsewhere, the trend of going “cashless” is gaining traction.

We have been covering the shortcomings of what is rightly called the War On Cash here at TDV for a while now and have shown just how negative the effects can be on an unsuspecting nation’s people.

Chandigarh, India, which is the capital of the northern Indian states of Punjab and Haryana, is like one of India’s labrats. Indian officials are working hard toward making it into India’s first cashless city.


This initiative is part of the Prime Minister of India’s call for state governments to begin developing what he’s calling “smart” cities.

That means cities attached to the latest internet technology. However there is nothing intelligent about his plan.

One of the major changes being made to work toward that objective was the insistence of having all bills paid electronically at government offices within the city.

Similarly, in Panjim, the capital of Goa, India, the local government is attempting to incentivize the locals into paying digitally by offering them discounts on train tickets and other public transportation services if they pay electronically.

This is an extension of the ongoing cash battle which has been going on in India since November when Modi announced he was going to replace the 500 and 1000 rupee banknotes. However the government has not started replacements, only ensured the removal.

What followed the eradication of India’s largest denomination notes was a constricted Indian economy, particularly among the middle and lower classes who rely predominantly on cash transactions to conduct daily business.

There are a myriad of problems associated with this. Many street vendors, rickshaw drivers, and other small time merchants cannot afford the card readers necessary to conduct the transactions electronically.

In some cases the consequences have been starvation, suicide, and the inability to pay for medical expenses because of lack of access to funds or because of how difficult it is to exchange the 500 and 1000 rupee notes for lower denomination bills.

Also in Europe, in places like London, many stores and restaurants have stopped accepting notes or coins for payment and only allow their customers to pay with plastic.

It’s becoming common for Londoners to treat people using cash as second class citizens. In other words, it is becoming unfashionable to pay with cash according to the status quo.

The same is true for the people of Sweden, particularly in the cities of Stockholm and Gothenburg. Which is ironic considering that in 1661, the Scandinavian monarchy became the first country in the world to issue paper currency.

In Sweden this had forced people into storing their cash in bank accounts that come with negative interest rates - yes, the banks are charging them to save their money rather than rewarding them with positive yielding interest.

In Amsterdam, the homeless, many of whom survive by selling magazines, are increasingly hard pressed to find people willing to pay in cash as well. The problem is that even if the homeless had cheap cell phones with QR readers - which Amsterdam has talked about helping the homeless community to obtain - they still don’t have the bank accounts necessary to receive the payments.

Then there is Uruguay which doesn’t get much attention, but this small South American country was among the very first to announce it was getting rid of at least some cash transactions. Unlike some other counties, Uruguay’s cash reduction was couched in terms of helping the poor.

Soon the country plans to implement bank accounts for all payroll payments. It is supposedly doing this in order to make sure even the very poorest have bank accounts. In fact, this is not going to do much to help very poor people because they don’t have jobs to begin with. But it sounds good on paper.

All in all, the elimination of cash is being done under the guise of helping to combat terrorism, white collar crime, tax evasion, and criminals from hiding behind untraceable cash transactions.

Of course, the reality is that without cash, governments and banks gain the ability to run economies like totalitarian police states - tracking every transaction and parasitically siphoning wealth via income tax and other forms of taxation.

This is all part of a UN backed, globalist movement towards “smart cities” where people will own nothing and live in small boxes and everything will be transacted digitally via the government.

You can see what they have planned for “smart cities” here:

Basically, if you see the word “smart” in front of something, it means “slave”.

This is precisely why it is increasingly important to keep your assets outside of these jurisdictions and out of the financial system in general in safer alternatives such as precious metals and cryptocurrencies.

Join us this February 24th in beautiful Acapulco, Mexico for the annual TDV Internationalization & Investment Summit where people like G. Edward Griffin, David Morgan, Bix Weir, Roger Ver and many others will give their best analysis and recommendations on how to survive and profit during these perilous times.

And, sign up for our free Webinar to be held live on January 24th, where TDV’s Senior Analyst will unveil his top mining stock pick for 2017.

We had massive profits last year during a time when most mutual funds treaded water or worse and we plan to do so again in 2017 because we know what the globalist game plan is and stay one step ahead of them every tyrannical step of the way.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2016 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules