Eliminating cash?

Eliminating cash? June 10, 2015

Discussions at the big summit of world financial leaders in Bilderburg, Austria, this week will include proposals to limit cash transactions as a way to fight illegal activity and to give banking systems greater control of monetary fluctuations.  This at a time when a number of economists, bankers, and government officials have called for the elimination of cash altogether.  All purchases would be made electronically.  See anything wrong with that?

From Alex Jones, Bilderberg To Discuss Capital Controls on Consumers While HSBC Pays $40 Million Money Laundering Fine:

HSBC representatives will be party to discussions at Bilderberg centered around moving towards the abolition of cash and the imposition of capital controls on ordinary citizens in the name of stopping tax fraud and allowing more state control over people’s finances.

During the conference, Bilderberg will set the consensus for green lighting economic restrictions under the justification of stopping financing for terror groups like ISIS. Bilderberg will also discuss new controls on the sale of precious metals throughout Europe.

Numerous influential voices have recently called for eliminating physical currency altogether, giving central banks and governments the power to directly control your finances under the justification of preventing an economic collapse and bank runs.

At its most authoritarian extreme, this means having to obtain government permission every time you withdraw or spend a moderately large sum of money.

France is already set to introduce laws in September which will restrict French citizens from making cash payments over €1,000 euros. France’s Special Adviser on Financial and Economic Affairs to the President Laurence Boone will attend Bilderberg 2015.

Former Bank of England economist Jim Leaviss, penned an article for the London Telegraph last month in which he said a cashless society would only be achieved by “forcing everyone to spend only by electronic means from an account held at a government-run bank,” which would be, “monitored, or even directly controlled by the government.”

Banks in the United States and United Kingdom have also intensified policies that treat the deposit and withdrawal of relatively large amounts of cash as a suspicious activity.

Citigroup Chief Economist Willem Buiter recently advocated abolishing cash altogether in order to “solve the world’s central banks’ problem with negative interest rates.”

Last year, Harvard University’s Kenneth Rogoff also called for “abolishing physical currency” in order to stop “tax evasion and illegal activity” as well as preventing people from withdrawing money when interest rates are close to zero. Harvard Professor of Economics Martin Feldstein is on the official attendee list for this year’s Bilderberg conference.

Buiter and Rogoff recently gave presentations at a secret meeting in London during which they advocated, “the elimination of all cash to bring to fruition the day when you cannot buy or sell anything without government approval,” according to economist Martin Armstrong.

 

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