Banks can slowly rob account holders through a cashless agenda and negative interest rates.
You stand at a fork in the road:
In one direction, your money stays safe.
In the other direction, your money could get slowly taken from you by banks and any Government.
McAlvany ICA shines a light on the big way “they” could make cash irrelevant:
The Fed and the banks would like to make holding cash and gold as difficult and inconvenient as possible. The goal is to have those funds deposited in the banking system where they will be subject to negative returns.
Cash and gold can be held outside of the traditional banking system, so that makes it hard to track by a Government or the central banks.
But Central banks and Governments want to impose a wealth tax down the line, so starting in the U.S. there are 3 ways they plan to start “stealing” your assets:
- They want you to convert everything into traceable deposits or assets, so they know exactly where your money is (and so they can tax it when they want).
- They want to make safety deposit boxes harder to put cash or gold inside, so you can’t “hide” your money from “their” system.
- Impose negative interest rates that make you pay if you keep money in the wrong bank (already happening in Switzerland).
So if cash were ever made a “thing of the past,” then any Government and central bank could force you to keep your money in their system, and they could track it.
All so they could tax your hard-earned money to death or even use it to “end recessions faster” by imposing negative rates.
Let that sink in for just a second. “They” want you to pay to keep your money in a bank so they can rob your account at any time to end a recession faster.
Like the Great Recession of 2008, which they caused.
On top of that, negative rates have already taken people’s pensions and could bankrupt others if they do it again, according to SGT Report:
These idiots fail to comprehend that negative interest rates have wiped out pensions. The instruction manual for life was to save for your retirement to be able to live off the interest of your savings. The problem was, those days were based on 8% interest rates. Moving negative will not force people to spend, it merely bankrupts the people.
In Switzerland, negative interest rates of -.75% have already been happening since 2014. But the most chilling part from the newest IMF report claims “deeper” negative rates can happen quickly, and whenever “they” want (emphasis mine):
The central message of this paper is that with readily available tools a central bank can enable deep negative rates whenever needed—thus maintaining the power of monetary policy in the future to end recessions within a short time. This paper demonstrates that a subset of these tools can have a big effect in enabling deep negative rates with administratively small actions on the part of the central bank.
So, if this monetary policy were implemented at your bank in the future, they could potentially rob your account “whenever needed” just to “end recessions within a short time.” All with only “small actions” necessary to get the “robbery” started.
Not good at all.
But for now, keeping some paper cash around can help. That said, the IMF is already tightening the noose by suggesting that “large-scale storage outside the home” be “directly prohibited.”
The bottom line is it’s critical you start to explore your options for keeping your money safe and out of “their” hands while there is still time.
How to Keep Your Options (And Exits) Open
Today, it’s getting more important than ever to keep your money away from Governments and central banks (before you start getting robbed). It’s alsocritical that you protect and grow your wealth.
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Location Independent Entrepreneur
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Great people have made some accurate predictions, e.g. Leonardo Da Vinci or Leo Szilard
Hollywood movies have presaged the future. 20,000 Leagues Under The Sea, Jules Verne
Why do so many people not learn from history? The failing is the “it ain’t happened to me and hence it ain’t goin’ to happen to me” supercilious syndrome. People are playing a kind of probability, gambling and assumption game, i.e. they are taking the risk that “it won’t happen to me;” a game that many have learned to their great ruin, dismay and misery was not worth the gamble
And hey, if the economy fails and the banks fail then the government will bail me out with its welfare state scheme that is financed by taxation/theft/organized political crime/extortion which is just looting the workers to deliver the spoils to the non-workers.
The Bible teaches us at Genesis 41:27 to be prepared for the 7 years of lean.
The Bible teaches us at 2 Thessalonians 3:10 that those who will not work shall not eat (those who refuse to work, not those who are unable to work by reason of infirmity or age and physically unable to provide useful labor).
Remember the ol’ Boy Scout Motto: Be prepared! (This reminds me of Genesis 41:27. Oh and BTW, I refused to support the Boy Scouts ever since they repudiated or rejected their espoused moral code, i.e. they messed up the 12 Points of the Scout Law and they violated their own oath).
The Bible teaches us at Matthew 10:16 to be wise as serpents and gentle as doves. There is a message to be prepared; learn from history.
The Bible teaches us at Deuteronomy 25:13 to have honest weights and measures, honest money (fiat currency is not honest.
And this is the danger of government control of the currency. Beware of the government that mandates “plastic” currency! Only fools ignore the warning.
Actually, it is just to pay a banker to store and safeguard your funds. But bankers seem unable to resist the temptation to steal your funds. And then the bankers assist the government/politicians in stealing your funds via such things as taxes and negative interest rates and inflation. Yes, taxation and inflation are thefts. – JW]
If there is a recession, then most people are suffering economically. So, then to “alleviate” the dire effects of the recession the politicians will steal your tokens from your bank account. How does harming some help them? It doesn’t. This is the old commie/socialist scheme of looting A to satisfy B and thereby build dictatorial power and a gaggle of slop-at-the-trough, suck-at-the-golden-teat, depedent slaves on the plantation state run by masters/politicians and their overseers/judges/enforcers all in the “land of the free and home of the brave” and the Declaration of Independence. Hooey! Duplicity reigns. How diabolically ironic is that?
And remember this: The Swiss gave women the vote and then they ceased to back their currency/notes with gold. Swiss imposed women’s suffrage I 1971 and the last canton, Appenzell Innerhoden, imposed it in 1991. The Swiss joined the IMF in 1992 and had to agree to cease backing the Swiss Franc with gold as the “price” of admission. And then, the Swiss, having survived quite will for a few centuries without becoming entangled in alliances, went and joined the UN in 2002. Oh and the Swiss bent down and kissed the dirty feet of the scoundrel IRS and the US politicians and terminated their honor and reputations by allowing access to the secret accounts of depositors. Yes, I know the criminals were and most likely still are using the Swiss banks but it is still a dishonor and a measure of disrespect of privacy. The Swiss have forever shamed themselves. And then I recall how Amerika went commie/socialist after women’s suffrage was imposed with the 19th Amendment and we have suffered economic recessions and the debauching of the currency ever since. Go figure.