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GOING CASHLESS?? Someone Better Tell The Federal Reserve As Currency In Circulation Reaches New High
GOING CASHLESS?? Someone Better Tell The Federal Reserve As Currency In Circulation Reaches New High With all the talk about Central banks going “Cashless,” someone needs to tell the Federal Reserve. Why? Because the Federal Reserve just placed another large order for newly printed 2018 Dollars. Interestingly, the U.S. Treasury will print the largest number […]
Backlash Against “War on Cash” Reaches Washington & China
Backlash Against “War on Cash” Reaches Washington & China The electronic-payments industry, which gets a cut from every electronic transaction, wants to kill cash. But wait… Not so long ago, it seemed that the death of cash was both inevitable and imminent. The war against physical money was advancing on all fronts. Cash, already with technological […]
Ron Paul: “A Cashless Society Is Very, Very Dangerous”
Ron Paul: “A Cashless Society Is Very, Very Dangerous” As the global war on cash continues to accelerate, outspoken libertarian Ron Paul summarizes the effort to eliminate cash perfectly – as an “attack on individual freedom.” Restricting and discouraging the use of cash, suggests Paul, has always been a goal of statists as a means […]
“Ice Nine” Comes to China
“Ice Nine” Comes to China The war on cash has been going on for decades. The U.S. abolished the $500 bill in late 1969. (The old $500 bill featured a portrait of President William McKinley, by the way. I remember seeing a few when I was a kid.) Today’s $100 bill is only worth 10 […]
In The Rush Toward A Cashless Society, The Poorest Are At Risk Of Further Exclusion
In The Rush Toward A Cashless Society, The Poorest Are At Risk Of Further Exclusion “Unless you’re poor, it’s hard to understand what it’s like to be poor.” Indian Prime Minister Narendra Modi has a grand ambition to make his country into a cashless society. In 2014, he launched a scheme to provide bank accounts […]
Even the World’s Most Cashless Nation Doesn’t Want to Go Fully Cashless
Even the World’s Most Cashless Nation Doesn’t Want to Go Fully Cashless It’s too risky and systematically excludes the most vulnerable people. There are small but growing signs that Europe’s “War on Cash” is not going exactly according to plan. First, a number of central bankers began voicing concerns about its potential ramifications. Now, even […]
Silicon Valley Joins War On Cash: Tim Cook Seeks “Elimination Of Money”
Silicon Valley Joins War On Cash: Tim Cook Seeks “Elimination Of Money” Apple CEO Tim Cook has one big hope for the future – that he lives to see the end of money. “…I’m hoping that I’m still going to be alive to see the elimination of money.” Speaking at a meeting for Apple shareholders […]
“Cash Must Not Be Made the Scapegoat”
“Cash Must Not Be Made the Scapegoat” In the War on Cash, a rare defense of physical money by an ECB Board Member. The proposed EU-wide cash restrictions could come into effect as early as this year. But defenders of physical cash have an unexpected ally in their struggle: Yves Mersch, a member of the […]
Swedish Authorities Fear “Negative Spiral” As Society Goes Cashless ‘Too Fast’
Swedish Authorities Fear “Negative Spiral” As Society Goes Cashless ‘Too Fast’ In 1660, Sweden’s Riksbank was the first central bank in the world to issue paper currency. In 2016, Sweden began to accelerate its transition from cash to digital currency. At the time, Deputy Riksbank Governor Cecilia Skingsley warned: “We need to do the homework […]
‘No Cash’ Signs Everywhere Has Sweden Worried It’s Gone Too Far
‘No Cash’ Signs Everywhere Has Sweden Worried It’s Gone Too Far Cash usage declining both as share of GDP and in nominal terms Riksbank committee could publish report on issue in summer Sweden ‘Most Cashless’ Society in the World The value oof notes and coins in circulation are the lowest in nearly 30 years. Bloomberg’s […]
Transparent citizens, negative interest rates and other crazy ideas of economic experts
Transparent citizens, negative interest rates and other crazy ideas of economic experts In a March paper, Alexei Kireyev of the International Monetary Fund advises abolishing cash without having the citizens aware of the process. First, large banknotes are to be withdrawn from circulation, next limits on cash transactions are to be imposed, then computerization of […]
Warning: ‘They Need The Markets To Implode’ To Usher In Cashless System
Warning: ‘They Need The Markets To Implode’ To Usher In Cashless System Market analyst Lynette Zang predicts in the next market meltdown, “real estate, stocks, and bonds will all crash.” When asked when this will happen, Zang says, “Enjoy your Christmas,” but in 2018, all bets are off. Greg Hunter interviewed Lynette Zang, Chief Market Strategist […]
China and Russia: Full Steam Ahead Towards a Cashless Society
China and Russia: Full Steam Ahead Towards a Cashless Society We reported back in November 2016 – Cashless World: 1 out of 3 People Never Use Cash – fewer and fewer people understand the importance of using cash to protect themselves from an overarching government warlord. At the time China’s use of digitized currency was growing […]
In a Cashless World, You’d Better Pray the Power Never Goes Out
In a Cashless World, You’d Better Pray the Power Never Goes Out When Hurricane Maria knocked out power in Puerto Rico, residents there realized they were going to need physical cash — and a lot of it. Bloomberg reported yesterday that the Fed was forced to fly a planeload of cash to the Island to help avert disaster: […]
Modi’s Demonetization Called “Colossal Failure That Ruined Economy” As India GDP Growth Slumps To 2-Year Lows
Modi’s Demonetization Called “Colossal Failure That Ruined Economy” As India GDP Growth Slumps To 2-Year Lows India’s embattled Prime Minister Narendra Modi faced a double whammy of abuse this week as his nation’s economic growth collapsed to its weakest since Q1 2014 and India’s Central Bank released a report on Modi’s extraordinary “demonitization” plan last […]
