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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 […]
The Final Assault in the War on Cash
The Final Assault in the War on Cash Before I show you what I’ve learned about a plan to seize control of America’s money, let me make one point clear… If you value sound money and political freedom… if you value limited government and taxation with representation… and if you value enterprise and privacy… then […]
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 […]
Visa Goes Down in the UK, Chaos Ensues, Cash is Suddenly King
Visa Goes Down in the UK, Chaos Ensues, Cash is Suddenly King War on Cash Suffers Setback. For over 12 hours on Friday, shopping centers in the UK and other parts of Europe were plunged into chaos as millions of consumers were unable to use their Visa debit or credit cards at points of sale. […]
Australia Bans Payments Over $10k, Unleashes “Mobile Strike Teams” In War On Cash
Australia Bans Payments Over $10k, Unleashes “Mobile Strike Teams” In War On Cash As Australia struggles to maintain its unprecedented 104-quarter-long streak of uninterrupted economic growth, lawmakers are intensifying the country’s “war on cash” – ostensibly part of a crackdown on “criminal gangs” that are smuggling drugs and/or people into the island nation and companies […]
“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 […]
The Way to Survive Hyperinflation
The Way to Survive Hyperinflation COMMENT: Mr. Armstrong; I just wanted to comment that I am from Venezuela. My father came here to visit me in Florida where I live with a Green Card. Everything he saved in life for his retirement is now worthless and it does not even pay to travel back to […]
The Two Janet’s And The Perfect Storm Ahead
The Two Janet’s And The Perfect Storm Ahead The Bloomberg news crawler this morning is heralding the heart of our thesis: Namely, that “flush with cash from the tax cut”, US companies are heading for a “stock buyback binge of historic proportions”. This isn’t a “told you so” point. It’s dramatic proof that corporate America has […]
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 […]
Don’t Worry, It’s Only a “Pre-Bubble”
Don’t Worry, It’s Only a “Pre-Bubble” Ray Dalio, who embarrassed himself saying “You’re Going to Feel Pretty Stupid Holding Cash” offers more silliness. Ray Galio, the head of the world’s largest hedge fund says U.S. in a ‘Pre-Bubble Phase’ with a 70% Chance of Recession. “I think we are in a pre-bubble stage that could […]
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 […]
