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The International War On Cash

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http://www.internationalman.com/articles/the-international-war-on-cash

Back in 2008, I began warning of increasing capital controls that we would see in the future, as a component in the decline of Western economies (Western in the broad sense, including Japan, Australia, etc.)

Along the way, it occurred to me that, at some point, governments might collectively attempt to eliminate paper currency in favour of an electronic currency - transferred from party to party solely through licensed banks. Sound farfetched? Well, maybe, but what if the U.S. and EU agreed on an overall plan, then suggested it to other governments? On the face of it, this smacks of conspiracy theory, yet certainly, all governments would benefit from this control and would be likely to get on board. In fact, it might prove to be the only way out of their present economic problems.

So, how would it play out? Here’s roughly how I saw Phase I:

  • Link the free movement of cash to terrorism (Create a consciousness that any movement of large sums suggests criminal activity.);
  • Establish upper limits on the amount of money that can be moved without reporting to some government investigatory agency;
  • Periodically lower those limits;
  • Accustom people to making all purchases, however small or large, through a bank card;
  • Create a consciousness that the mere possession of cash is suspect, since it’s no longer “necessary”.

When I first wrote on the subject, there was considerable criticism as to the possibility that such a programme would ever be attempted, let alone succeed. And, granted, it was so Orwellian that it was understandably seen as a crackpot idea. But since that time, the programme has been developing extremely rapidly. In the last six months alone, it has become so visible that it has even garnered a name - “the War on Cash”.

References in the media have been made that terrorist groups fund their attacks with cash. Dozens of countries have placed limits on the maximum amount of money that can be moved without reporting. Some, notably France, have already begun lowering their limits. Banks in some countries, notably Sweden, are already treating all cash transactions as suspicious. The previously theoretical Phase I is now well under way.

This issue has expanded more quickly than I’d anticipated. Clearly, the governments that are forcing it into being are running out of time. There can only be one reason why they’d rush a programme that normally would be given more time for people to accept, and that’s that they see a crash coming before they can get Phase II of the programme underway.

Although most anyone who’s paying attention recognises that Phase I is in motion, Phase II (as I perceive it) is not yet on the radar, but I believe it will be soon. Phase II will be the second wave of measures and they will be more draconian than Phase I:

  • Create a definitive false flag event that demonstrates how physical cash is the primary means of funding evil acts in the world;
  • Declare a date on which paper currency will become illegal (Until that date, it can be deposited into a bank. After that date, it becomes criminal to possess it.);
  • Once all cash has been deposited in banks, increase negative interest rates;
  • Confiscation of deposits can then be implemented, as desired, by banks (Confiscation of deposits is already legal in Canada, the U.S., and the EU.);
  • Confiscate contents of selected safe deposit boxes;
  • End “voluntary” taxation. All taxation will, in future, be by direct debit;
  • Declare money to be the property of the State that issued it. (The people are allowed to trade in it, but it is not truly theirs. The State therefore can freeze or confiscate the funds in any account, if any crime is “suspected”.).

In recent months, I’ve warned repeatedly that, since confiscations of deposits will take place, we must assume that banks will additionally raid safe deposit boxes, as stated in the above list. Some banks, beginning with JPMorgan Chase, have placed limits on what forms of wealth can be placed in safe deposit boxes. Since then, Greece has taken this one step further. In future, Greek citizens will be required to declare cash exceeding €15,000, jewellery and precious stones valued at over €30,000 and declare the location of the safe deposit box in which they’re stored.

Paranoid lunacy or how things will develop?

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You can't bail in cash.

The banks need/want your money again and they will do anything to get it,

anything to get it - except pay a fair interest rate based upon real risks. Having cash in the bank is a higher risk than keeping it under your mattress today. When they do this they must also ban other barbarous relics

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Saw a prog last night about the NCA National Crime Agency busting a drug smuggling gang. Guys were paying in £25K at a time in cash in one bank in Birmingham. They used several banks but there were pre-printed slips for one bank found in a stash behind a toilet cistern!

Millions was being laundered and sent abroad by a crooked money transfer company.

I can see why TPTB might want to do away with cash because of scenarios like these but where were the controls?

If I was regularly paying in large wadges of cash £25K at a time I would expect questions to be asked. Apparently not and it takes a huge amount of police time to bust the organisation and convict the criminals. Why didn't the bank report it if they thought something fishy was going on?

You don't need to get rid of cash just have more responsible banks.

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Saw a prog last night about the NCA National Crime Agency busting a drug smuggling gang. Guys were paying in £25K at a time in cash in one bank in Birmingham. They used several banks but there were pre-printed slips for one bank found in a stash behind a toilet cistern!

Millions was being laundered and sent abroad by a crooked money transfer company.

I can see why TPTB might want to do away with cash because of scenarios like these but where were the controls?

If I was regularly paying in large wadges of cash £25K at a time I would expect questions to be asked. Apparently not and it takes a huge amount of police time to bust the organisation and convict the criminals. Why didn't the bank report it if they thought something fishy was going on?

You don't need to get rid of cash just have more responsible banks.

I saw that too.

Some scruffy, recent immigrant from Afghanistan, market trader, living with a wife and 9 children, in the worst bit of Birmingham coming into Barclays Bank every day with exacly £25k in notes doesn't arouse suspicion. Didn't they put several million through that bank, and about £100m through the dodgy international clearing house and were only caught due to finding bank slips in that toilet.

But if I want to transfer £10,001 between accounts I can't due to money laundering regulations.

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I saw that too.

Some scruffy, recent immigrant from Afghanistan, market trader, living with a wife and 9 children, in the worst bit of Birmingham coming into Barclays Bank every day with exacly £25k in notes doesn't arouse suspicion. Didn't they put several million through that bank, and about £100m through the dodgy international clearing house and were only caught due to finding bank slips in that toilet.

But if I want to transfer £10,001 between accounts I can't due to money laundering regulations.

Yep - last couple of times I've bought a car entailed bank transfers (not cash, just electronic transfers) of >10k and both times I had to answer questions about why I was moving 'large sums of money' even though it was to a car dealership both times. Also had to answer questions when transferring some foreign funds in, many years back.

So the idea that a dodgy immigrant (From Afghanistan and probably Muslim of course, so presumably linking him in the eyes of the casual TV viewer to terrorism) was happily depositing and moving £25000 cash on a regular basis in the same bank without being checked is somewhat unbelievable.

Almost as if there's an agenda in the media to demonise the use of cash and link it with terrorist types. But of course, we have a free media which would never knowingly act as a propaganda toolo, eh?

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I've transferred amounts > £10k from my UK account to French bank account many times over the last 10yrs.

Use a forex company. Rates much much better than the high st shops and banks. Gave them a photocopy of passport when I set up the account. Since then, never had to answer a single question.

You guys must have something to hide ?

Edited by Agentimmo

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I saw that too.

Some scruffy, recent immigrant from Afghanistan, market trader, living with a wife and 9 children, in the worst bit of Birmingham coming into Barclays Bank every day with exacly £25k in notes doesn't arouse suspicion. Didn't they put several million through that bank, and about £100m through the dodgy international clearing house and were only caught due to finding bank slips in that toilet.

But if I want to transfer £10,001 between accounts I can't due to money laundering regulations.

You need to open a launderette ;

When HSBC was caught out, the head of the US Justice Department’s criminal division, Lanny Breuer, said that cartel operatives would arrive at the bank’s branches and “deposit hundreds of thousands of dollars in cash, in a single day, into a single account, using boxes designed to fit the precise dimensions of the teller windows”. HSBC asked no questions.

http://www.theguardian.com/commentisfree/2015/feb/15/hsbc-has-form-mexico-laundered-drug-money

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I saw that too.

Some scruffy, recent immigrant from Afghanistan, market trader, living with a wife and 9 children, in the worst bit of Birmingham coming into Barclays Bank every day with exacly £25k in notes doesn't arouse suspicion. Didn't they put several million through that bank, and about £100m through the dodgy international clearing house and were only caught due to finding bank slips in that toilet.

But if I want to transfer £10,001 between accounts I can't due to money laundering regulations.

You're kind of answering your own question. If he was a market trader he will probably have had a business account and businesses that deal entirely in cash, can deposit a lot of cash. .Large busy pub could easily deposit that from a good weekend so not necessarily the case it would raise eyebrows at the bank.

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You're kind of answering your own question. If he was a market trader he will probably have had a business account and businesses that deal entirely in cash, can deposit a lot of cash. .Large busy pub could easily deposit that from a good weekend so not necessarily the case it would raise eyebrows at the bank.

That would have to be one hell of a weekend, especially as cards are used more and more. I cannot remember the last time I paid cash in a pub, tapping a card on the till reader is so much less effort and I get 3% back for going contactless.

I don't think there is a war on using cash. There is simply no need for one, human laziness will do the job. Already (it was reported a few months ago, cannot find the link) cash has been overtaken by electronic payments for even daily expenditure. Give it another few years and it cash payments of any significance will be sufficiently unusual to mark you out for attention as a potential money launderer, tax dodger or terrorist.

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..not really ..almost developed already ..apart from short term car parking coins I use digital, electronic, swipe settlement or whatever for just about everything else ...this would not be a big deal ....and there is a nice audit trail .... :rolleyes:

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..not really ..almost developed already ..apart from short term car parking coins I use digital, electronic, swipe settlement or whatever for just about everything else ...this would not be a big deal ....and there is a nice audit trail .... :rolleyes:

You may be less sanguine if they slap negative interest rates on your bank accounts. All in a good cause of course- the global economy needs that cash in circulation or propping up asset prices, not being hoarded away. At present you could at least register your displeasure by shifting into cash- but what if there is no cash?

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Anecdotally I have noticed that the majority of people I know dont have savings; and I include middle class people on combined incomes of 100 grand plus. All disposable income goes on either unecessary expenditure on their homes( 25 grand on a loft conversion when they already have a spare bedroom) or expensive holidays. Their wages just go in their accounts and out again so negative interest rates would be of no concern to them. I was wondering if this was just my circle of acquantainces or typical of the wider population?

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Anecdotally I have noticed that the majority of people I know dont have savings; and I include middle class people on combined incomes of 100 grand plus. All disposable income goes on either unecessary expenditure on their homes( 25 grand on a loft conversion when they already have a spare bedroom) or expensive holidays. Their wages just go in their accounts and out again so negative interest rates would be of no concern to them. I was wondering if this was just my circle of acquantainces or typical of the wider population?

I'm sure there's a thread somewhere on here where someone posted figures showing that most people don't have cash for an unexpected £300 bill, and that something like having £5k (I forget the actual figure) means inclusion in the top 10% of cash wealth on the planet.

I may have plucked those figures from a fading memory, but it was something like that and I can't find the thread. But it gives you an idea not only of how few people actually have a meaningful bank balance, but also just how on tick almost everything is.

Entire businesses and ways of life have been built on fake wealth for a long time.

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I'm sure there's a thread somewhere on here where someone posted figures showing that most people don't have cash for an unexpected £300 bill, and that something like having £5k (I forget the actual figure) means inclusion in the top 10% of cash wealth on the planet.

Savings over £6000 start impacting on housing benefit and tax credit / universal credit claims. Under UC you're assumed to be making over 25% return on your savings.

Effectively the negative interest rate is so huge it makes saving not just un-attractive, but un-affordable for many on low incomes.

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Savings over £6000 start impacting on housing benefit and tax credit / universal credit claims. Under UC you're assumed to be making over 25% return on your savings.

Effectively the negative interest rate is so huge it makes saving not just un-attractive, but un-affordable for many on low incomes.

As usual it's an attitude problem with people not seeing further than their own nose.

Why work for your own cash? Just steal other people's because the state tells you you can. Screw the wider long term impact.

One of my life rules - just because one can doesn't mean one should.

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As usual it's an attitude problem with people not seeing further than their own nose.

Why work for your own cash? Just steal other people's because the state tells you you can. Screw the wider long term impact.

One of my life rules - just because one can doesn't mean one should.

So the zero hours waitress or retail worker is "stealing other people's cash" for having the temerity to try and save money for deposit on a home of their own one day? Are you a BTL landlord by any chance?

Edited by ManVsRecession

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So the zero hours waitress or retail worker is "stealing other people's cash" for having the temerity to try and save money for deposit on a home of their own one day? Are you a BTL landlord by any chance?

Full time worker saver, all good. Part time worker in order to sponge off the state the rest of the time? Part of the problem.

And no I'm not a landlord. Lol.

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Savings over £6000 start impacting on housing benefit and tax credit / universal credit claims. Under UC you're assumed to be making over 25% return on your savings.

Effectively the negative interest rate is so huge it makes saving not just un-attractive, but un-affordable for many on low incomes.

Can you please tell me where I can get a 25% return on savings. I would love to know. Edited by interestrateripoff

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Cash is the debt free component of fiat currency, <3% of the total in circulation. It's hardly significant. IMO the reason for banning cash is the preparation of something more sinister.

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