fluteroop Posted February 8, 2016 Share Posted February 8, 2016 Looks like tech designed to free us could possibly enslave us Quote Link to comment Share on other sites More sharing options...
Errol Posted February 8, 2016 Share Posted February 8, 2016 Looks like tech designed to free us could possibly enslave us Yes, what a surprise. Quote Link to comment Share on other sites More sharing options...
Errol Posted February 8, 2016 Share Posted February 8, 2016 More nonsense from the ban cash lunatics: Scrap high-denomination banknotes, urges ex-bank boss - http://www.theguardian.com/business/2016/feb/08/high-denomination-bank-notes-should-be-scrapped This is personally quite interesting, since I have 7 £50 notes in my wallet right now. Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted February 8, 2016 Share Posted February 8, 2016 More nonsense from the ban cash lunatics: Scrap high-denomination banknotes, urges ex-bank boss - http://www.theguardian.com/business/2016/feb/08/high-denomination-bank-notes-should-be-scrapped This is personally quite interesting, since I have 7 £50 notes in my wallet right now. That's a shocking proposal. £50 is nothing - half a tank of petrol, half the weekly tab at the supermarket. Those are what I use 50s for - normal, everyday transactions. I like to run a mainly cash household and taking a month's expenditure out in 10s and 20s would mean a bigger wallet! I also use cash as a store of value. I've had bank cards fail on me. I've had banks electronic systems go down. So I always keep a stash of real cash as a buffer. And that's without considering any long term stash held out of bank failure paranoia (which I don't really do any more). Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted February 8, 2016 Share Posted February 8, 2016 This already exists - https://www.bitgold.com/ . But bitcoin transfers are equivalent to transferring the *actual gold*. Bitgold is just shuffling IOUs around - lots of centralisation risk, lots of counterparty risk. Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted February 8, 2016 Share Posted February 8, 2016 Central banks should stop issuing £50, $100 and €500 notes to tackle crime, according to a former bank boss. The high-denomination notes are favoured by terrorists, drug lords and tax evaders, argues Peter Sands, former chief executive of Standard Chartered bank, in a new report. Illegal money flows exceed $2 trillion (£1.4 trillion) a year, Mr Sands said. Rather than focus on the criminals, his report argued G20 countries should now target the cash itself. Mr Sands, who produced the report for the Harvard Kennedy School, urged the world's 20 largest economies to take up the matter before their next summit in China in September. http://www.bbc.co.uk/news/business-35519884 Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted February 8, 2016 Share Posted February 8, 2016 The benefits of scrapping cash http://www.ft.com/cms/s/0/8ef4dcb0-ca6f-11e5-be0b-b7ece4e953a0.html Quote Link to comment Share on other sites More sharing options...
Errol Posted February 8, 2016 Share Posted February 8, 2016 (edited) The Germans are fighting back. And interesting that in Germany 76% of all transactions are still in cash: http://www.theguardian.com/world/2016/feb/08/german-plan-prohibit-large-5000-cash-transactions-fierce-resistance At least one of their MPs understands: “Cash allows us to remain anonymous during day-to-day transactions. In a constitutional democracy, that is a freedom that has to be defended,” tweeted the Green MP Konstantin von Notz. Edited February 8, 2016 by Errol Quote Link to comment Share on other sites More sharing options...
zugzwang Posted February 8, 2016 Share Posted February 8, 2016 The Germans are fighting back. And interesting that in Germany 76% of all transactions are still in cash: http://www.theguardian.com/world/2016/feb/08/german-plan-prohibit-large-5000-cash-transactions-fierce-resistance At least one of their MPs understands: “Cash allows us to remain anonymous during day-to-day transactions. In a constitutional democracy, that is a freedom that has to be defended,” tweeted the Green MP Konstantin von Notz. Given the history of the 20th Century, you'd expect the Germans to understand. Quote Link to comment Share on other sites More sharing options...
Funn3r Posted February 11, 2016 Share Posted February 11, 2016 https://petition.parliament.uk/petitions/109727 Petition asking the government to confirm that it won’t abolish cash Quote Link to comment Share on other sites More sharing options...
Errol Posted February 11, 2016 Share Posted February 11, 2016 They will just confirm that they have no current plans to. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 15, 2016 Author Share Posted February 15, 2016 The War On Paper Currency Begins: ECB Votes To "Scrap" 500 Euro Bill Not a bad way to launch a global ban on paper currency ahead of a global NIRP regime, and all, of course, in the name of fighting "tax evasion, financial crime, terrorism and corruption." Quote Link to comment Share on other sites More sharing options...
giggler000 Posted February 15, 2016 Share Posted February 15, 2016 They had it in carrier bags not a brief case in sight! They recognised this type of crime and started charging 5p for carrier bags now. See taxes work... Quote Link to comment Share on other sites More sharing options...
yellerkat Posted February 15, 2016 Share Posted February 15, 2016 The War On Paper Currency Begins: ECB Votes To "Scrap" 500 Euro Bill Not a bad way to launch a global ban on paper currency ahead of a global NIRP regime, and all, of course, in the name of fighting "tax evasion, financial crime, terrorism and corruption." Still CHF1000 bills to stuff your pillows with. Quote Link to comment Share on other sites More sharing options...
R K Posted February 16, 2016 Share Posted February 16, 2016 The War On Paper Currency Begins: ECB Votes To "Scrap" 500 Euro Bill Not a bad way to launch a global ban on paper currency ahead of a global NIRP regime, and all, of course, in the name of fighting "tax evasion, financial crime, terrorism and corruption." or possibly they are just fighting tax evasion, crime, terrorism and corruption. Paul Mason (who not to put too fine a point on it and I used to really like is reporting from greece, seems to have become increasinly paranoid of late) only seems to be able to come up with 2 reasons why this isnt a good idea. 1 of which is "how will thousands of drug users get their fix on a saturday night" which doesnt seem the most balanced analysis. Paul Mason @paulmasonnews 10m10 minutes ago London, England The central bank war on cash is coming: http://www.theguardian.com/commentisfree/2016/feb/15/crime-terrorism-and-tax-evasion-why-banks-are-waging-war-on-cash?CMP=twt_gu … Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted February 16, 2016 Share Posted February 16, 2016 Still CHF1000 bills to stuff your pillows with. The Swiss public in general are a lot more savvy about the financial system and the way money works, than Brits. They prefer cash, understand the value of anonymity of financial affairs, value gold and practice direct democracy. Then again, people of almost every nation in the World have more of a clue about the value of money than the feckless, childlike inhabitants of GB. To be fair, a lot of this is probably due to the dumbing down of anything complicated, and in particular finance, in the mainstream media. Watching the BBC News channel yesterday and some vacuous blonde woman was on every 30 minutes or so babbling about how great it was that the markets were recovering . Apparently up up up in the index of stock prices shows everything is good good good in the financial World. Needless to say, a couple of days earlier when markets were in full-on panic mode there wasn't very much coverage of that at all, and no commentary about what that might be indicating. Quote Link to comment Share on other sites More sharing options...
Errol Posted February 16, 2016 Share Posted February 16, 2016 or possibly they are just fighting tax evasion, crime, terrorism and corruption. Love your country, but never trust its government. - Robert A. Heinlein Quote Link to comment Share on other sites More sharing options...
R K Posted February 16, 2016 Share Posted February 16, 2016 The Swiss public in general are a lot more savvy about the financial system and the way money works, than Brits. They prefer cash, understand the value of anonymity of financial affairs, value gold and practice direct democracy. Then again, people of almost every nation in the World have more of a clue about the value of money than the feckless, childlike inhabitants of GB. To be fair, a lot of this is probably due to the dumbing down of anything complicated, and in particular finance, in the mainstream media. Watching the BBC News channel yesterday and some vacuous blonde woman was on every 30 minutes or so babbling about how great it was that the markets were recovering . Apparently up up up in the index of stock prices shows everything is good good good in the financial World. Needless to say, a couple of days earlier when markets were in full-on panic mode there wasn't very much coverage of that at all, and no commentary about what that might be indicating. Are you kidding?! it has been wall to wall DOOM every day. China collapsing, oil collapsing, markets collapsing. Swiss arent "savvy" at all. Thats one of those memes like Chinese are "inscrutable" or Brits are "feckless". Quote Link to comment Share on other sites More sharing options...
R K Posted February 16, 2016 Share Posted February 16, 2016 Love your country, but never trust its government. - Robert A. Heinlein Well, youre a gold bug who doesnt believe in fiat currency so your view is partisan. Its like the gun lobby bleating over gun control. "Theyll have to prise my E500 notes from my cold dead hands" Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted February 16, 2016 Share Posted February 16, 2016 Are you kidding?! it has been wall to wall DOOM every day. China collapsing, oil collapsing, markets collapsing. Swiss arent "savvy" at all. Thats one of those memes like Chinese are "inscrutable" or Brits are "feckless". On the mainstream news channels there wasn't very much coverage of the massive falls in the markets at all. There seemed to be less 'business' news reports than usual - whereas in the last couple of days with rising market there have been plenty of 'business' sections hyping the rises. It was extremely noticeable. And the Swiss public most certainly ARE a lot more savvy than the public here. I lived there for quite a few years and it was clear that the average person knew the value of actual money, had an awareness of the nature of bank credit, valued financial privacy, had a grasp of the value of Gold and took an interest in important constitutional matters, engaging themselves in democracy. They also were much healthier - didn't drink much, had no fast food culture to speak of and did a load more outdoor exercise - and watched very little TV. Compare that to the average Brit who has sod all comprehension about matters financial and doesn't want to know anything about the workings of the state or society at large, and would prefer to be force fed a diet of cheap booze, fast food and trashy TV. Quote Link to comment Share on other sites More sharing options...
Errol Posted February 16, 2016 Share Posted February 16, 2016 On the mainstream news channels there wasn't very much coverage of the massive falls in the markets at all. There seemed to be less 'business' news reports than usual - whereas in the last couple of days with rising market there have been plenty of 'business' sections hyping the rises. It was extremely noticeable. Yes. I noticed this as well. It's as transparent as the constant Russia/Putin bashing. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted February 19, 2016 Share Posted February 19, 2016 As I noted earlier, the Swiss are one of the few nations where common sense and an understanding of the nature of money anf freedom is common: http://www.zerohedge.com/news/2016-02-18/swiss-politicians-propose-5000-franc-note-compare-cash-firearm-which-guarantees-free Philip Brunner and Manuel Brandberg, members of the right-wing Swiss People’s Party, have proposed a motion that they hope Zug will support for a cantonal initiative seeking changes to the federal currency law. They argue that the creation of 5,000-franc notes will ensure that the Swiss franc maintains its status as a safe haven currency. [..] Brunner and Brandberg maintain that the tendency in the EU and in OECD member countries is to “weaken individual liberties” and to exercise greater control over citizens. Quote Link to comment Share on other sites More sharing options...
evetsm Posted February 19, 2016 Share Posted February 19, 2016 Well, youre a gold bug who doesnt believe in fiat currency so your view is partisan. Its like the gun lobby bleating over gun control. "Theyll have to prise my E500 notes from my cold dead hands" quite. libertarians, or by the derogatory moniker, goldbugs don't like legalized plunder by a minority with monopoly powers bestowed by the state. Or as Bastiat put it : legalized plunder But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.*.Legal plunder can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits,minimum wages, a right to relief, a right to the tools of labor, free credit, and so on, and so on. All these plans as a whole with their common aim oflegal plunder constitute socialism.*.No legal plunder: This is the principle of justice, peace, order, stability, harmony, and logic. Until the day of my death, I shall proclaim this principle with all the force of my lungs (which alas! is all too inadequate)." Quote Link to comment Share on other sites More sharing options...
BudoBear Posted February 19, 2016 Share Posted February 19, 2016 James Corbett initiated an open source investigation into the drive to rid the world of cash. It pulls together many interesting stories from around the globe and is well worth taking a look at, because it is an issue that seems to be getting a lot of meeja coverage in the last few months. https://www.corbettreport.com/cash-wars-the-people-strike-back/ ;¬) bB Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 19, 2016 Author Share Posted February 19, 2016 There is also the point noted by Kindleberger that people will just create there own cash if there is a lack of official cash. Quote Link to comment Share on other sites More sharing options...
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