Best of the Week
Most Popular
1. Next Financial Crisis Is Already Here! John Lewis 99% Profits CRASH - Retail Sector Collapse - Nadeem_Walayat
2.Why Is Apple Giving This Tiny Stock A $900 Million Opportunity? - James Burgess
3.Gold Price Trend Analysis - - Nadeem_Walayatt
4.The Beginning of the End of the Dollar - Richard_Mills
5.Stock Market Trend Forecast Update - - Nadeem_Walayat
6.Hindenburg Omen & Consumer Confidence: More Signs of Stock Market Trouble in 2019 - Troy_Bombardia
7.Precious Metals Sector: It’s 2013 All Over Again - P_Radomski_CFA
8.Central Banks Have Gone Rogue, Putting Us All at Risk - Ellen_Brown
9.Gold Stocks Forced Capitulation - Zeal_LLC
10.The Post Bubble Market Contraction Thesis Receives Validation - Plunger
Last 7 days
Will Oil Price Crash Lead to “Contagion” for the U.S. Stock Market? - 15th Nov 18
How NOT to Be Among the MANY Stock Investors Fooled by This Market Myth - 15th Nov 18
Tory BrExit Chaos Cripples UK Economy, Wrecks Housing Market Confidence - 15th Nov 18
Stocks Could End 2018 With A Dramatic Rally - 15th Nov 18
What Could Be the Last Nail in This Stock Bull Markets Coffin - 15th Nov 18
Defensive Stock Sectors Outperforming, Just Like During the Dot-com Bubble - 15th Nov 18
Buying Your First Home? Here’s How to Save Money - 15th Nov 18
US Economy Ten Points or Ten Miles to ‘Bridge Out’? - 14th Nov 18
US Stocks: Whither from Here? - 14th Nov 18
Know exactly when to Enter&Exit trades using this... - 14th Nov 18
Understanding the Benefits of Keeping a Trading Journal - 14th Nov 18
S&P 500 Below 2,800 Again, New Downtrend or Just Correction? - 13th Nov 18
Warning: Precious Metals’ Gold and Silver Prices are about to Collapse! - 13th Nov 18
Why the End of the Longest Crude Oil Bull Market Since 2008? - 13th Nov 18
Stock Market Counter-trend Rally Reaches .618 Retracement - 13th Nov 18
How to Create the Best Website Content and Generate Organic Traffic - 13th Nov 18
Why the Stock Market Will Pullback, Rally, and Roll Into a Bear Market - 13th Nov 18
Stock Markets Around the World are Crashing. What Not to Worry About? - 12th Nov 18
Cyclical Commodities Continue to Weaken, Gold Moves in Relation - 12th Nov 18
Olympus Tough TG-5 Camera Stuck or Dead Pixels, Rubbish Video Auto Focus - 12th Nov 18
5 Things That Precede Gold Price Major Bottoms - 12th Nov 18
Big US Stocks Q3 Fundamentals - 12th Nov 18
How "Free Money" Helped Create Sizzling Housing Market & REIT Gains - 12th Nov 18
One Direction More Likely for Bitcoin Price - 12th Nov 18
The Place of HSE Software in Today's Business - 12th Nov 18
Gold Asks: Are US Bonds Overvalued? - 11th Nov 18
Why the Stock Market Will Pullback Before Heading Higher - 11th Nov 18
GDX - Will you Buy This Hated Stock with Me? - 11th Nov 18
Christmas and Halloween LED Dynamic Projector Light Review - 11th Nov 18
Wall Street Veteran: Why I Don’t Lend to Family and Friends - 10th Nov 18
Stocks Breaking Higher, but Resistance Ahead - 10th Nov 18
Stock Market Was Supposed to “Crash Like 1987” - 10th Nov 18
SPX : The Incredibull Stock Market Plays On - 9th Nov 18
USD/CAD – The Moment of Truth Is Coming - 9th Nov 18
Is the Stock Market’s Rally “All Good To Go”? - 8th Nov 18
End in Sight for 'Unloved' Silver - 8th Nov 18
Outlook for Gold & Silver Precious Metals Sector is 'Positive' - 8th Nov 18
A Great Day for Metals as Platinum Price Breaks Out - 8th Nov 18
Future US Interest Rates, Financial Markets, and the FED - 8th Nov 18
Buying an Approved Used Land Rover From a Dealer - What You Need to Know! - 8th Nov 18

Market Oracle FREE Newsletter

Free Online Trading Session

Credit And Bank Cards Stop Working, Sending Masses Into Frenzy

Politics / War on Cash Jun 05, 2018 - 12:39 PM GMT

By: BATR

Politics

The digital cashless empire took a huge credibility blow Friday as Visa card holders all over Europe were unable to make transactions.

Caused by an apparent ‘hardware failure,’ the widespread network outage affected large portions of the continent---a region that’s already made dangerous moves toward a cashless society.


In the UK, for example, 77% of all retail purchases in October were made with plastic, and Visa manages 95% of all debit cards in the country.

Needless to say, within a few hours, local economies quickly felt the pressure and panic. Ramzi Kozhani, manager of Cafe Brood in London, says he lost £3,000 and was forced to throw out excess stores of unused food.


The centralized nature of these financial behemoths quickly caused several large banks to issue public apologies, including the Royal Bank of Scotland and the Bank of Ireland---another reminder why crypto’s decentralized architecture is far more robust and reliable.

Visa released a statement denying claims that the network outage was caused by rogue hackers, but what if it was an inside job?

This whole debacle could have been a planned test to see how the public reacts when traditional payment systems crash---which you can expect to happen for longer than one day during the next financial collapse.

We do know globalists love cashless societies. Governments have every interest in going 100% digital to eliminate privacy and to put into place a global extortion (tax) dragnet to complete their total subjugation of all humans on Earth.

This will be great for banks of course. Think of all the fees they can charge.

If you pay everything digitally, not only are you dependant on a third party for access to your funds, but your entire life is mapped out, purchase by purchase.

It’s a great boon to the mafia (government) and extortionists (tax collectors), too, ensuring misleaders (politicians) and bureau-rats get a slice of everyone’s cake, all the time.

And there’s another reason. Keynesian style economies always end in complete collapse.

Central banks eventually get into trouble because they constantly have to counterfeit (stimulate) - that is, print large amounts of money – to make up for the planned failure of Keynesian policies.

If there’s a silver lining to the recent Visa crash, it’s the fact that for one day cardholders didn’t have to pay those exorbitantly high transaction fees---something we crypto enthusiasts have enjoyed living without.

To some, the fees may seem worth it for a shiny credit card, and since people are addicted to credit, there are crypto-credit options coming out very soon that will be much more affordable.

There are plenty of reasons to resist a 100% cashless society---and it’s true that if the internet gets shut down, we’re all screwed, be it cardholders or bitcoin HODLers.

For that reason, it’s always smart to keep some gold and silver coins around, and even some fiat cash.

Blockchain developers are working on various ways to decentralize the internet, which will hopefully make it impervious to being shut down by the Powers That Shouldn’t Be.

Once we achieve this, the state’s only option to slow down progress will be to turn off the power. That’s why CONgress often talks about internet kill switches, and the North Atlantic Terrorist Organization and the Department of Offense have been planning for EMP attacks and the power going out.

Because, if it comes down to it, to retain control and stop humanity’s evolution, they’ll probably try that too.

You might want to get some solar panels and generators to go with your crypto and precious metals.

In the meantime, be sure to stay up to date on the latest tools and strategies you need to survive the inevitable collapse of the dollar by subscribing HERE.

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.

© 2018 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

© 2005-2018 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