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Whatever happened to the WEF? One minute they were everywhere in the media and now they have all but disappeared from public discourse. After the pandemic agenda was defeated and the plan to exploit public fear to create a perpetual medical autocracy was exposed, Klaus Schwab and his merry band of globalists slithered back into the woodwork. To be sure, we’ll be seeing them again one day, but for now the WEF has relegated itself away from the spotlight and into the dark recesses of the Davos echo chamber.

Much of their discussions now focus on issues like climate change or DEI (Diversity, Equity, Inclusion), but one vital subject continues to pop up in the white papers of global think tanks and it’s a program that was introduced very publicly during covid. Every person that cares about economic freedom should be wary of Central Bank Digital Currencies (CBDCs) as perhaps the biggest threat to human liberty since the attempted introduction of vaccine passports.

The WEF recently boasted in a new white paper that 98% of all central banks are now pursuing CBDC programs. The report, titled ‘Modernizing Financial Markets With Wholesale Central Bank Digital Currency’, notes:

“CeBM is ideal for systemically important transactions despite the emergence of alternative payment instruments…Wholesale central bank digital currency (wCBDC) is a form of CeBM that could unlock new economic models and integration points that are not possible today.”

The paper primarily focuses on the streamlining of crossborder transactions, an effort which the Bank for International Settlements (BIS) has been deeply involved in for the past few years…

…click on the above link to read the rest of the article…

Never Ending War on Cash

January 22, 2024

Never Ending War on Cash

In the last few decades, there has been a global shift towards a “cashless world,” a trend that continues to shape financial autonomy. Physical currency is becoming increasingly rare as the majority of the world’s money supply exists in electronic form. Governments and financial institutions are actively promoting a cashless society, raising concerns about individual financial freedom.

The Federal Reserve’s last annual update on physical currency in circulation reported about 2.2 trillion dollars in physical cash supply. This includes physical coins (dimes, quarters, dollars) and green Federal Reserve notes. Nevertheless, there has been a rapid shift towards electronic funds. In the current era, the total global money supply is predominantly composed of electronic funds, with physical currency representing a diminishing percentage.

The concept of Central Bank Digital Currencies (CBDC) in the last year has gained substantial prominence globally. IMF Director Kistalina Georgieva noted in her speech last year that CBDCs have already been introduced in The Bahamas, Jamaica, and Nigeria, with over 100 additional countries (including the United States) currently in the exploratory phase.

The push towards a cashless society is often justified on grounds of enhanced security, with claims that electronic transactions deter terrorism, money laundering, and counterfeiting. However, upon closer examination, it becomes apparent that the primary objective is an attempt to ‘bar the doors’ and keep assets within the US Financial System. Reduced reliance on physical cash facilitates increased monitoring and taxation of financial transactions, aligning with the government’s and central planners’ interests.

Interestingly, even with the diminishing purchasing power of the US dollar, the face value of Federal Reserve notes has also been decreasing. Today, the highest denomination note produced by the Federal Reserve is the $100 note. The elimination of higher denominations, such as $500, $1,000, $5,000, and $10,000 notes, began in 1969. Discussions continue, with some advocating for the complete discontinuation of cash.

…click on the above link to read the rest…

March 9, 2022

October 29, 2023

March 9, 2022

Where were you on March 9, 2022, when President Biden signed the death warrant on American freedom?

On that day, in a hushed ceremony at the White House without the approval of Congress, the states or the American people, Biden signed into law Executive Order 14067.

Buried in his order are a few paragraphs, titled Section 4. The language in Section 4 makes Order 14067 the most treacherous act by a sitting president in the history of our republic.

That’s because Section 4 sets the stage for legal government surveillance of all U.S. citizens, total control over your bank accounts and purchases and the ability to silence all dissenting voices for good.

In this new war on freedom, they aren’t coming for your guns. No, they’re thinking much bigger than that.

They’re coming for your money.

And it’s already started. These efforts are stepping up and taking on a nefarious tone that also involves surveillance and loss of our freedoms under the guise of central bank digital currencies (CBDCs), or Biden Bucks as I call them.

If you had asked me about this two years ago, I would have said the U.S. is taking a rather studious approach to it. It was too important to not be involved in, but the U.S. did not seem to be in any hurry to actually implement it.

There were studies, and I would have said my estimate at the time would have been, “OK, China has it. Europe, maybe another year. The U.S. might be three or four years down the road because the dollar’s too important. They don’t want to race into it. They want to get it right. There are a lot of ways to mess it up.”

But that’s changed under Joe Biden.

…click on the above link to read the rest…

Doug Casey on the Death of Privacy… and What Comes Next

May 28, 2023

Doug Casey on the Death of Privacy… and What Comes Next

International Man: In practically every country, the allowable limit for cash withdrawals and transactions continues to be lowered.

Further, rampant currency debasement is lowering the real value of these ridiculous limits.

Why are governments so intent on phasing out cash? What is really behind this coordinated effort?

Doug Casey: Let me draw your attention to three truths that my friend Nick Giambruno has pointed out about money in bank accounts.

#1. The money isn’t really yours. You’re just another unsecured creditor if the bank goes bust.

#2. The money isn’t actually there. It’s been lent out to borrowers who are illiquid or insolvent.

#3. The money isn’t really money. It’s credit created out of thin air.

The point is that cash is freedom. And when the State limits the utility of cash—physical dollars that don’t leave an electronic trail—they are limiting your personal freedom to act and compromising your privacy. Governments are naturally opposed to personal freedom and personal privacy because those things limit their control, and governments are all about control.

International Man: Governments will probably mandate Central Bank Digital Currencies (CBDCs) as the “solution” when the next real or contrived crisis hits—which is likely not far off.

What’s your take? What are the implications for financial privacy?

Doug Casey: CBDCs are proposed as a solution, but in fact, they’re a gigantic problem.

Government is not your friend, and CBDCs are not a solution.

If they successfully implement CBDCs, it would mean that anything you buy or sell, and any income you earn, will go through CBDCs. You will have zero effective privacy. The Authorities will automatically know what you own, and they’ll be in a position to control your assets. Instantly.

…click on the above link to read the rest…

Is Switzerland About to Become First Country to Outlaw a Cashless Society?

February 18, 2023

Is Switzerland About to Become First Country to Outlaw a Cashless Society?

As in neighboring Germany and Austria, cash is still king in Switzerland albeit a much diminished one. But the Swiss will soon have the chance to vote on whether to preserve notes and coins indefinitely.

This is a rare positive news story that, perhaps unsurprisingly, has received next to no attention beyond Swiss borders. As far as I can tell, none of the legacy media in the US, UK, France, Germany or Spain have even bothered to cover the story. Indeed, it only registered on my radar a couple of days ago, over a week after the story initially broke, because an acquaintance of mine with family in Switzerland told me about it.

So, here’s the basic thrust of the story: At the beginning of last week, a Swiss pressure group with libertarian leanings called the Swiss Freedom Movement (FBS) announced it had collected enough signatures (111,000) to trigger a national vote on preserving cash for posterity. If passed, the initiative would require the federal government to ensure that coins and banknotes are always available in sufficient quantities. What’s more, any attempt to replace the Swiss Franc with another currency — quite possibly a reference to a central bank digital currency — would also have to be put to popular vote.

From Reuters:

Swiss citizens will get the chance to try to ensure their economy never becomes cashless, a pressure group said, after collecting enough signatures on Monday to trigger a popular vote on the issue.

The Free Switzerland Movement (FBS) says cash is playing a shrinking role in many economies, as electronic payments become the default for transactions in increasingly digitised societies, making it easier for the state to monitor its citizens’ actions.

Cash Still King in Switzerland, Albeit a Much Diminished One

War on Cash: India Rolling Out Retail Pilot Program for Digital Rupee

November 25, 2022

War on Cash: India Rolling Out Retail Pilot Program for Digital Rupee

NOVEMBER 23, 2022 BY SCHIFFGOLD 0 1

We recently reported that the Federal Reserve plans to launch a 12-week pilot program in partnership with several large commercial banks to test the feasibility of a central bank digital currency (CBDC). The US isn’t alone in experimenting with digital currency. India is working on developing a digital rupee and recently announced the second phase of testing.

After successfully running a pilot program to test its digital currency at the wholesale level, the Reserve Bank of India (RBI) has announced it will test the digital rupee in a retail setting.

According to the RBI, the central bank digital currency “is a legal tender issued by a central bank in a digital form. It is the same as a fiat currency and is exchangeable one-to-one with the fiat currency. Only its form is different.”

Digital currencies are similar to bitcoin and other cryptocurrencies. They exist as virtual banknotes or coins held in a digital wallet on your computer or smartphone. The difference between a government digital currency and bitcoin is the value of the digital currency is backed and controlled by the state, just like traditional fiat currency.

As the RBI put it, “Unlike cryptocurrencies, a CBDC isn’t a commodity or claims on commodities or digital assets. Cryptocurrencies have no issuer. They are not money (certainly not currency) as the word has come to be understood historically.”

According to a report in the Economic Times of India, the National Payments Corporation of India will host the platform for the digital rupee payment system during the testing phase. The Reserve Bank of India wants each commercial bank in the pilot to test retail use of the digital rupee with 10,000 to 50,000 users.

…click on the above link to read the rest…

Germany Preparing For Emergency Cash Deliveries, Bank Runs And “Aggressive Discontent” Ahead Of Winter Power Cuts

November 16, 2022

Germany Preparing For Emergency Cash Deliveries, Bank Runs And “Aggressive Discontent” Ahead Of Winter Power Cuts

While Europe has been keeping a generally optimistic facade ahead of the coming cold winter, signaling that it has more than enough gas in storage to make up for loss of Russian supply even in a “coldest-case” scenario, behind the scenes Europe’s largest economy is quietly preparing for a worst case scenario which include angry mobs and bankruns should blackouts prevent the population from accessing cash.

As Reuters reports citing four sources, German authorities have stepped up preparations for emergency cash deliveries in case of a blackout (or rather blackouts) to keep the economy running, as the nation braces for possible power cuts arising from the war in Ukraine. The plans include the Bundesbank hoarding extra billions to cope with a surge in demand, as well as “possible limits on withdrawals”, one of the people said. And if you think crypto investors are angry when they can’t access their digital tokens in a bankrupt exchange, just wait until you see a German whose cash has just been locked out.

Officials and banks are looking not only at origination (i.e., money-printing) but also at distribution, discussing for example priority fuel access for cash transporters, according to other sources commenting on preparations that accelerated in recent weeks after Russia throttled gas supplies.

The planning discussions involve the central bank, its financial market regulator BaFin, and multiple financial industry associations, said the Reuters sources most of whom spoke on condition of anonymity about plans that are private and in flux.

Although German authorities have publicly played down the likelihood of a blackout and bank runs – for obvious reasons – the discussions show both how seriously they take the threat and how they struggle to prepare for potential crippling power outages caused by soaring energy costs or even sabotage…

…click on the above link to read the rest…

“Cash Delay” Deliveries Strike Polish ATMs As People Panic Hoard Amid Ukraine Crisis

February 26, 2022

“Cash Delay” Deliveries Strike Polish ATMs As People Panic Hoard Amid Ukraine Crisis

Russian forces continue to invade Ukraine for the second day, causing mass panic in neighboring countries. Poland, which has a 326-mile border with Ukraine, is bracing for a wave of refugees. The spillover of chaos is also causing Polish people to panic hoard cash on Friday as bank ATMs run out of money, according to Bloomberg.

The National Bank of Poland (NBP) released a statement Friday indicating it had enough cash reserves though increased demand for cash contributed to some ATMs running out of money.

Due to the increased demand for cash, Narodowy Bank Polski informs that it has sufficient reserves to fully cover the demand of bank customers for cash. All bank orders are carried out without value limits, in the full nominal structure, throughout the country.

Narodowy Bank Polski is in close cooperation with all entities servicing the cash market in Poland. Due to the increased scale of transactions, in some locations there may be delays in the delivery of cash to ATMs from the logistic centers of commercial banks and cash handling companies.

Poland’s unit of ING Groep NV reports a massive increase in demand for cash after the invasion of Ukraine, according to Business Insider.

The bank’s CEO Brunon Bartkiewicz said the cash crunch should dissipate in the coming days as Polish banks are stable and there’s is no risk to people’s savings.

Bloomberg points out, “another indication of tighter liquidity, the amount of surplus cash that Polish banks placed in 7-day bills at the central bank’s weekly auction dropped to 187 billion zloty ($45 billion) on Friday, the smallest amount in 2022 and 22% below this year’s average.”

…click on the above link to read the rest of the article…

One Ring to Rule Us All: A Global Digital Fiat Currency

October 10, 2021

One Ring to Rule Us All: A Global Digital Fiat Currency

We’ve written extensively about the “war on cash.” In a nutshell, governments would love to do away with cash in order to better track and control their citizens. There have been numerous moves closer to a cashless society in recent years, from capping ATM withdrawals to doing away with large-denomination bills. Last year, China launched a digital yuan pilot program and the US has floated moving toward a digital dollar.

We got a first-hand look at what happens when governments restrict access to cash when India plunged into a cash crisis after the country’s government enacted a policy of demonetization in November 2016.

It’s bad enough that various countries are exploring ways to move toward cashlessness, but there’s an even worse scenario — a global digital currency.

Economist Thorsten Polleit compares it to the “master ring” in J.R.R. Tolkien’s classic Lord of the Rings.

The following article was originally published by the Mises Wire. The opinions expressed are the author’s and do not necessarily reflect those of Peter Schiff or SchiffGold.

1.

Human history can be viewed from many angles. One of them is to see it as a struggle for power and domination, as a struggle for freedom and against oppression, as a struggle of good against evil.

That is how Karl Marx (1818–83) saw it, and Ludwig von Mises (1881–1973) judged similarly. Mises wrote:

The history of the West, from the age of the Greek Polis down to the present-day resistance to socialism, is essentially the history of the fight for liberty against the encroachments of the officeholders. (1}

But unlike Marx, Mises recognized that human history does not follow predetermined laws of societal development but ultimately depends on ideas that drive human action.

…click on the above link to read the rest of the article…

The War On Cash, Is It A Real Thing? The Answer Is Yes

September 17, 2021

The War On Cash, Is It A Real Thing? The Answer Is Yes

In our bizarre economy, we hear many things, and ideas are constantly being thrown out to us. This all tends to flow together and help us develop a strategy as to how we should cope with the changing times. One thing we continue to hear is that a war is being waged to eliminate cash. Not only are most people going along with this but many have embraced the notion.Some people view carrying cash as dangerous or burdensome. This also dovetails with their desire to spend more than they can afford, when using a credit card it is far easier to continue spending money you do not have. All things considered, when asked, is the war on cash a real thing being directed from those on high, sadly we must answer yes. Cash reflects “options for the people” and it appears those in charge of such things want in gone.

Currencies were developed to facilitate and ease transactions between individuals and businesses. The war on cash is simply another way Washington can continue to show its favoritism towards big business. Small businesses often rely more on small cash transactions and often lack the ability to process other forms of payment. It is ironic that while big businesses and companies like Amazon flourish with each move government makes, the small businesses on Main Street are left worse off.

Your Wealth Will Be Locked In A Computer

A cashless society where records are made and kept reflecting every transaction we make even down to buying a candy bar also allows the government to monitor our every move. This is something Big Brother-type governments strongly aspire to under the guise it will extend its ability to protect us or tamp down on crime, tax evasion, and corruption……click on the above link to read the rest of the article…

Four Reasons Why You Should Stash the Cash!

May 29, 2021

Four Reasons Why You Should Stash the Cash!

With inflation and gas and food shortages on the rise, it is an excellent idea to have some cash stashed for emergencies. I know we live in a world that believes that there is an ATM around the corner and keeping cash in your wallet or in your home is obsolete, but there are some events that will prove it is good to have some loose cash around.

1. Stolen Credit and Debit Cards

A few years ago, I used to run at a local park after I got off work. My workout sessions were only 35 minutes to an hour, so I was never particularly worried that my car would be broken into. However, one Friday when I returned to my vehicle, my windows were busted out, and my bag, which was hidden, was missing. I should have known better than to leave a bag in the car, but I never thought it could happen to me. (How many times have we heard that phrase and shook our heads?) There is nothing worse than having your wallet stolen and having to contact the credit card companies and the banks to tell them. Immediately, all purchasing power is put on stop. In my case, it was on a Friday, and I couldn’t get my debit card reissued until the following Monday. At that time, I did not have a stash of cash, and I had to borrow money from my family. This one event is what led me to having a stash of cash.

2. Limits on Large Purchases

Many families are experiencing financial difficulties because of Covid, and since people have been unable to pay their card debt, the banks have reduced the limits that they offer…

…click on the above link to read the rest of the article…

Dangers Of Programmable Money Explained

May 5, 2021

Dangers Of Programmable Money Explained

Dominic Frisby with Money, Markets & Other Matters talks about the war on cash and central bank digital currency, known as CBDC. He questions if CBDCs are “the final step into the brave new world – Orwellian great reset dystopia – we seem to be heading towards” or are they “the onramp to the Bitcoin motorway.” He said the answer is “both.”

Frisby points out the biggest issue with CBDCs is that digital money is “programmable,” which means the issuer, such as the Federal Reserve or the Bank of England, can build specific rules into it. He said cash grants users freedom and power.

Programmable money, such as CBDCs, means the user has even less control over their money. Frisby said almost any kind of rule could be coded into CBDCs. He provides an example of China mulling over the idea of expiry dates for its digital money. This means those holding the programmable money have to spend the money by a specific time or it disappears from their account.

For those who aren’t familiar with Chuck Palahniuk’s 2018 “Adjustment Day” book, a similar concept of expiring money was detailed. Palahniuk is also the writer behind “Flight Club.”

Back to Frisby, who said issuers could manipulate money velocity by changing expiry dates. He said the money could be programmed to work only in certain areas or jurisdictions. He then warned:

“Every transaction ever made will be visible to the all-seeing government.”

Governments will know your whereabouts and habits at all times simply by tracking your use of funds through the CBDC payment system. This can already be done, to some extent, by tracking credit card transactions, but the CBDC system will make state surveillance more pervasive.

CBDCs also allow the government to have direct access to a person’s wallet to remove taxes and other fines.

…click on the above link to read the rest of the article…

War on Cash: The Next Phase

April 14, 2021

War on Cash: The Next Phase

With so much news about an economic reopening, a border crisis, massive government spending and exploding deficits, it’s easy to overlook the ongoing war on cash.

That’s a mistake because it has serious implications not only for your money, but for your privacy and personal freedom, as you’ll see today.

Cash prevents central banks from imposing negative interest rates because if they did, people would withdraw their cash from the banking system.

If they stuff their cash in a mattress, they don’t earn anything on it; that’s true. But at least they’re not losing anything on it.

Once all money is digital, you won’t have the option of withdrawing your cash and avoiding negative rates. You will be trapped in a digital pen with no way out.

What about moving your money into cryptocurrencies like Bitcoin?

Governments Won’t Surrender Their Monopoly Over Money

Let’s first understand that governments enjoy a monopoly on money creation, and they’re not about to surrender that monopoly to digital currencies like Bitcoin.

Libertarian supporters of cryptos celebrate their decentralized nature and lack of government control. Yet, their belief in the sustainability of powerful systems outside government control is naïve.

Blockchain does not exist in the ether (despite the name of one cryptocurrency), and it does not reside on Mars.

Blockchain depends on critical infrastructure, including servers, telecommunications networks, the banking system, and the power grid, all of which are subject to government control.

But governments know they cannot stop the technology platforms on which cryptocurrencies are based. The technology has come too far to turn back now.

So central governments don’t want to kill the distributed ledger technology behind cryptos. They’ve been patiently watching the technology develop and grow — so they could ultimately control it.

Anyone who controls the money controls political power, the economy, and people’s lives.

…click on the above link to read the rest of the article…

Austria bucking Trend Against Digital Currency

December 17, 2020

Austria bucking Trend Against Digital Currency

The Austrian National Bank has started an information campaign to support cash. It remains to be seen whether it is on a collision course with the ECB. There will be rising resistance to this scheme to eliminate paper money and force everyone into a digital currency. I would expect you will see the same resistance rise in the United States and if the Democrats try that again, this will be simply one of the reasons to justify rebellion. They have crushed the economy with their lockdowns which have hurt the lower classes most of all who cannot work from home remotely. But this is typical of elites for they judge the world only by their own class and will never talk to anyone from the Great Unwashed.

These financial terrorists know they have a short fuse. They are going to push very hard to get their agenda 2030 going by 2022. Schwab has sent his book to every world leader and to the governors and premiers of every state/province around the world. This is his Communist Manifesto how he thinks the world should run – the typical arrogant academic with no real-world experience just like Marx. It always these types of people who feel nothing about the hardship and loss of life they unleash on the world. He claims the world MUST accept his manifesto to “avoid revolutions” which in fact will take place because of this man. I do not understand how academics can be so elitist as to justify war as long as it leads to their land of dreams. He has even enrolled the Pope which was raised in communism. The pope has abandoned religion and thou shalt not covet your neighbor’s good for Marxism.

The Dollar Is Dying

August 10, 2020

The Dollar Is Dying

Insulting the Captive Audience

This week, while perusing the Federal Reserve’s balance sheet figures, we came across a rather curious note. We don’t know how long the Fed’s had this note posted to its website. But we can’t recall ever seeing it. The note reads as follows:

“The Federal Reserve’s balance sheet has expanded and contracted over time. During the 2007-08 financial crisis and subsequent recession, total assets increased significantly from $870 billion in August 2007 to $4.5 trillion in early 2015. Then, reflecting the FOMC’s balance sheet normalization program that took place between October 2017 and August 2019, total assets declined to under $3.8 trillion. Beginning in September 2019, total assets started to increase.”

Directly below this note is the following chart:

Total assets of the Federal Reserve since 2008 – never-ending expansion (shaded areas indicate recessions) [PT]

Does this look like a balance sheet that expands and contracts over time?

Quite frankly, the Fed’s balance sheet chart, and the extreme dollar debasement that it illustrates, is a disgrace. The fact that the Fed had to add this flagrantly false note as preface to its disgraceful chart is an insult.

This is a direct offense to anyone who has built a modest savings account by exchanging their time for dollars. The time and effort put to obtaining these dollars is being stolen by the insidious process of central bank engineered money supply inflation. Year in and year out, these earned dollars will be worth less and less.

Moreover, normalization is a Fed lie. It never happened. Yes, $700 billion was contracted from the Fed’s Balance sheet between October 2017 and August 2019. But that was in the wake of a $3.5 trillion expansion. And it was quickly followed by another $3 trillion balance sheet expansion this spring.

…click on the above link to read the rest of the article…

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