Your Cash Can Be Gone at the Whim of the Fed

Since the Federal reserve notes have value because they say they do, the Fed or TPTB can decide that the cash money has no value whenever they feel like it.

ONLY (SUPERVISED) SPENDING IS ALLOWED

Gregory Mankiw, a prominent macroeconomist, came up with a scheme in 2009: the Fed would announce that a year from the date of the announcement, it intended to pick a numeral from 0 to 9 out of a hat. All currency with a serial number ending in that numeral, would instantly lose status as legal tender, causing the expected return on holding currency to plummet to -10 percent. This would allow the Fed to reduce interest rates below zero for a year or even more because people would happily loan money for say, -2 percent or -4 percent because that would stop them from losing 10 percent.

Now the reason given by our rulers for suppressing cash is to keep society safe from terrorists, tax evaders, money launderers, drug cartels, and other villains real or imagined. The actual aim of the flood of laws restricting or even prohibiting the use of cash is to force the public to make payments through the financial system. This enables governments to expand their ability to spy on and keep track of their citizens’ most private financial dealings, in order to milk their citizens of every last dollar of tax payments that they claim are due.

The war on cash in Sweden has gone probably the furthest and Scandinavian governments in general are notable for their opposition to cash. In Swedish cities, tickets for public buses no longer can be purchased for cash; they must be purchased in advance by a cell phone or text message — in other words, via bank accounts.

The deputy governor of the Swedish Central Bank gloated, before his retirement a few years back, that cash will survive “like the crocodile,” even though it may be forced to see its habitat gradually cut back.


Why Government Hates Cash by Joseph T. Salerno Text abridgement of the speaking event below.

War on Cash audio by Joseph T. Salerno May 7 2015 audio about 30 minutes

Since the money isn't backed by anything other than political support, they could declare the money worthless at any time, for a plausibly good reason of course.

And they don't like the anonymity or freedom of exchange of cash.

Back in the early 1990's, at the beginning of the right wing talk radio popularity, the UN Agenda 21 had a section about getting rid of cash. Your Social Security Card, or some other plastic, would get some number of credits every week, but they couldn't be saved. Every week each citizen would get the same amount of money to spend that week. Any money not spent would disappear.

The segue to that would be negative interest rates on cash.

a reply to: Semicollegiate

Coming soon bank bail ins?

a reply to: Semicollegiate

A lottery to suddenly classify certain notes "illegal tender" will scare people out of carrying cash, in case they take a hit.

Actually if you keep your money in the bank, it doesn't really exist anyway except on computer memory. Watching what happened in Greece lately should be a heads up to people.

Games they play with fiat funny money. Now you see it, now you don't.

The Fed doesn't have to decide that the US Dollar is worthless.

The US Dollar is ALREADY worthless. $20 is only $20 because everyone agrees it is. Never was a statement more true than "In God We Trust" on the US bills.

The US Dollar is entirely a faith based currency. It's only a strong currency because everyone BELIEVES it's strong. The minute that the rumor starts that the US dollar is shaky, the crash would come very, very fast.

originally posted by: babybunnies
The minute that the rumor starts that the US dollar is shaky, the crash would come very, very fast.

In Greece they froze peoples accounts to prevent that. The ATM goes dark one day, preventing a "run" on the banks and hyperinflation.

Then they 'issue' cash at 60 Euros a day to keep things from getting out of hand. No credit cards are acceptable because retailers don't know if they will collect down the road.

It becomes a cash only economy at that point. And even better, a black market, barter, gold and silver exchange climate.

a reply to: Semicollegiate

Maybe I'm nuts but if I am not mistaken haven't depositors now been deemed unsecured creditors. Meaning banks can take your money to prop themselves up if need be? Maybe it was a rumor. I thought it happened at the g 20 summit in 2012, something between England and the US since they can't prop up banks anymore.

If this is wrong I apologize but if right and correct you don't own your money after deposit anyway. The bank does.

originally posted by: babybunnies
The Fed doesn't have to decide that the US Dollar is worthless.

The US Dollar is ALREADY worthless. $20 is only $20 because everyone agrees it is. Never was a statement more true than "In God We Trust" on the US bills.

The US Dollar is entirely a faith based currency. It's only a strong currency because everyone BELIEVES it's strong. The minute that the rumor starts that the US dollar is shaky, the crash would come very, very fast.

This is more direct. Let's say that a political movement is accumulating cash to fund its activities and buy real estate for its head quarters etc...

The Powers that Be could declare cash, or some fraction of cash, void and of no value about that time. Publically, the stated reason could be about some other problem. Centralization is very useful in that way. The solutions disregard persons who not absolutely and interchangeably average.

originally posted by: intrptr

originally posted by: babybunnies
The minute that the rumor starts that the US dollar is shaky, the crash would come very, very fast.

In Greece they froze peoples accounts to prevent that. The ATM goes dark one day, preventing a "run" on the banks and hyperinflation.

Then they 'issue' cash at 60 Euros a day to keep things from getting out of hand. No credit cards are acceptable because retailers don't know if they will collect down the road.

It becomes a cash only economy at that point. And even better, a black market, barter, gold and silver exchange climate.

A reason fiat money has value is that it can be used to pay taxes. You can't pay taxes with barter.

Taxes strike again. Taxes have many bad side effects.

originally posted by: Reallyfolks
a reply to: Semicollegiate

Maybe I'm nuts but if I am not mistaken haven't depositors now been deemed unsecured creditors. Meaning banks can take your money to prop themselves up if need be? Maybe it was a rumor. I thought it happened at the g 20 summit in 2012, something between England and the US since they can't prop up banks anymore.

If this is wrong I apologize but if right and correct you don't own your money after deposit anyway. The bank does.

I'd really like to see something that validates what you've said - that would DEFINITELY make me rethink direct deposit etc.

a reply to: FamCore

Quite honestly I am not sure, rumor or not, on a phone at the moment. I will search Google tomorrow and it could be I am completely off or saw an email that followed the one from the African Prince wanting to give me gold. If I find anything I'll post. If someone can say it's wrong before then cool. If it is I apologize

a reply to: Reallyfolks

Seems you are correct. It's not against the law either.
You are a Creditor when you hand money over to the bank, and the bank is a Debtor to you, since you 'loaned' it to them to use as they wish .

Either one of these scenarios is bad. Bartering isnt always practical.
You put it in the bank; you can get screwed and you hang onto it for them to come along and announce a certain note will no longer be legalTender. They would most likely do the latter by way of the year it was printed or we are just not gonna use those denominations anymore so take them to the bank.

I think it will end up we have digital credits to stop the money laundering, drug trade and people making cash evading taxes. Actually I don't know but I'm certain we will be screwed over in one way or another. I just hope it happens so far in the future I'm not affected by it. I fear it will be sooner than we think though.

What is one to do?

a reply to: FamCore
There are plenty of sources if you google it. I'll find one and post it.

Here: NO BANK DEPOSITS WILL BE SPARED FROM CONFISCATION

www.zerohedge.com...

a reply to: FamCore

Your direct deposit term made me think if something else, like when you agree for the government to issue direct deposits if they owe you money ( rare I know). As it turns out once you've done that, you just make it easier for them to withdraw money from your account.

See that's another way they can get you, suddenly they determine you owe more taxes and they take it. I don't have direct deposits set up, but I did get billed from 2006 tax year in 2013. I called asking where is my refund and they informed me they took it to put towards the outstanding balance from 2006 and I still owe the remaining balance. It wasn't even my bill! Ex husbands. They said well if you were married it was half yours and it was incurring interest. Pissed me off, but I got my lawyer onto him and got it back from him. I was lucky. Good thing because when I tried to argue it I got told it was too late to complain or appeal it, the window of time had expired

originally posted by: Semicollegiate

originally posted by: babybunnies
The Fed doesn't have to decide that the US Dollar is worthless.

The US Dollar is ALREADY worthless. $20 is only $20 because everyone agrees it is. Never was a statement more true than "In God We Trust" on the US bills.

The US Dollar is entirely a faith based currency. It's only a strong currency because everyone BELIEVES it's strong. The minute that the rumor starts that the US dollar is shaky, the crash would come very, very fast.

This is more direct. Let's say that a political movement is accumulating cash to fund its activities and buy real estate for its head quarters etc...

The Powers that Be could declare cash, or some fraction of cash, void and of no value about that time. Publically, the stated reason could be about some other problem. Centralization is very useful in that way. The solutions disregard persons who not absolutely and interchangeably average.

Why would they go that far? All they'd have to do is freeze their accounts.

That's exactly what the US government did after 9/11. They froze the accounts of a wide array of Islamic charities & organizations until they could prove innocence. And law enforcement can seize the assets of targeted organizations; court systems can order injunctions against those organizations to prevent them form operating; and members or associates of those organizations can be arrested on trumped up charges.

Declaring US currency invalid would have massive ripple effects around the world that our leaders would never want.

a reply to: violet

I was hoping it was in my email box after the one the African Prince promised me gold.

That tax thing you had is no fun. Appreciate the response

a reply to: enlightenedservant

Hypothetically it could be a Bernie Sanders type guy who is trying to not take loaded money.

Or maybe several Ron Paul, Green, Libertarian, Constitutional, Socialist, Maverick Dems or Reps in the same election that would go the plurality.

originally posted by: Semicollegiate
a reply to: enlightenedservant

Hypothetically it could be a Bernie Sanders type guy who is trying to not take loaded money.

Or maybe several Ron Paul, Green, Libertarian, Constitutional, Socialist, Maverick Dems or Reps in the same election that would go the plurality.

Even then, all they'd have to do is target those people, their wealthiest supporters, and the PACs that support him financially. Simply freezing their accounts would do the trick. And if they really wanted to go after them, they could just link them to terrorism.

We can be placed on government lists for terrorists & suspected terrorists without ever being told why. We can be placed on no-fly lists, extra scrutiny lists, and much more. I'm not saying this hypothetically; I'm saying this because it's exactly what they've been doing to Muslims since 9/11. In extreme cases, they even instantly revoke some Muslims' visas or citizenships while we're traveling overseas. I say "extreme cases" because they literally don't have to tell us why we're on these lists or who put us on them, much less give us a chance to prove our innocence against the accusations we don't get to review.

I'm just saying that the US federal govt has shut down internal opposition groups many times without having to nullify its currency.

I have been married for awhile.

My cash has been gone just as long.

originally posted by: Semicollegiate

originally posted by: intrptr

originally posted by: babybunnies
The minute that the rumor starts that the US dollar is shaky, the crash would come very, very fast.

In Greece they froze peoples accounts to prevent that. The ATM goes dark one day, preventing a "run" on the banks and hyperinflation.

Then they 'issue' cash at 60 Euros a day to keep things from getting out of hand. No credit cards are acceptable because retailers don't know if they will collect down the road.

It becomes a cash only economy at that point. And even better, a black market, barter, gold and silver exchange climate.

A reason fiat money has value is that it can be used to pay taxes. You can't pay taxes with barter.

Taxes strike again. Taxes have many bad side effects.

In that kind of shtf economy the tax man is an endangered species.

They can't possibly police every "sale".

originally posted by: FamCore

originally posted by: Reallyfolks
a reply to: Semicollegiate

Maybe I'm nuts but if I am not mistaken haven't depositors now been deemed unsecured creditors. Meaning banks can take your money to prop themselves up if need be? Maybe it was a rumor. I thought it happened at the g 20 summit in 2012, something between England and the US since they can't prop up banks anymore.

If this is wrong I apologize but if right and correct you don't own your money after deposit anyway. The bank does.

I'd really like to see something that validates what you've said - that would DEFINITELY make me rethink direct deposit etc.

Once you deposit your money in a bank they 'invest' (loan it) out to someone else, so not only don't you have it (google tangible asset), but the bank doesn't have it anymore either. They've given your money to someone else on a promise to pay it back.

If the "current" currency suddenly becomes devalued, the promise to pay back evaporates and the bank closes its doors. The money the bank 'has' is gone, leaving you holding an empty bag.

The ATM goes dark.