{"id":22729,"date":"2017-02-10T09:43:10","date_gmt":"2017-02-10T14:43:10","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22729"},"modified":"2017-02-10T09:43:25","modified_gmt":"2017-02-10T14:43:25","slug":"cash-no-longer-king-europe-moves-to-begin-elimination-of-paper-money","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22729","title":{"rendered":"Cash No Longer King: Europe Moves to Begin Elimination of Paper Money"},"content":{"rendered":"
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Cash No Longer King: Europe Moves to Begin Elimination of Paper Money<\/a><\/h3>\n<\/div>\n<\/div>\n
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(<\/b>ANTIMEDIA<\/b><\/a>)<\/b>\u00a0\u2014 In the shadow of Donald Trump\u2019s spree of controversial actions, the European commission has quietly launched the next offensive in the war on cash. These unelected bureaucrats have boldly asserted their intention to crack down on paper transactions across the E.U. and solidify a trend that has been gaining momentum for years.<\/div>\n
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The financial uncertainty amplified by Brexit has incentivized governments throughout Europe to seize further control over their banking systems.\u00a0France and Spain<\/a>\u00a0have already criminalized cash transactions above a certain limit, but now the commission has unilaterally established\u00a0new regulations<\/a>\u00a0that will affect the entire union. The fear of physical money flowing out of the trade bloc has manifested a draconian response from the State.The European\u00a0Action Plan<\/a>\u00a0doesn\u2019t mention a specific dollar amount for restrictions, but as expected, their reasoning for the move is to thwart money laundering and the financing of terrorism. Border checks between countries have already been\u00a0bolstered<\/a>\u00a0to help implement these new standards on hard assets. Although these end goals are plausible, there are other clear motivations for governments to target paper money that aren\u2019t as noble.<\/p>\n

Negative interest rates<\/a>\u00a0and\u00a0high inflation<\/a>\u00a0are a deadly combination that could further destabilize the already fragile union in the future. With less physical currency circulating, these trends ensure that the impact of any additional\u00a0central bank policies<\/a>\u00a0will be maximized. If economic conditions deteriorate, the threat of citizens pulling cash out of their accounts and starting a\u00a0bank run<\/a>\u00a0is eliminated in a cashless system. So long as the people\u2019s wealth is under centralized control, funds can be shifted at will to conceal any underlying problems. But the longer this shell game is allowed to persist, the more painful it will be when reality overrides the manipulation.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Cash No Longer King: Europe Moves to Begin Elimination of Paper Money (ANTIMEDIA)\u00a0\u2014 In the shadow of Donald Trump\u2019s spree of controversial actions, the European commission has quietly launched the next offensive in the war on cash. These unelected bureaucrats have boldly asserted their intention to crack down on paper transactions across the E.U. and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[8350,1035,1034,279,284,14792],"class_list":["post-22729","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-anti-media","tag-cash","tag-cashless-society","tag-eu","tag-european-union","tag-shaun-bradley"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22729"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22729\/revisions"}],"predecessor-version":[{"id":22731,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22729\/revisions\/22731"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}