Would they ever get rid of Cash???

a reply to: AugustusMasonicus
Wal mart makes the most sense

a reply to: Brotherman

They start selling common sense there?

(and not the book by Paine)

Quite honestly our corporations are sending us in a direction of little to no cash by transitioning back to a debtors society like in feudal europe. Best example of this is your Lowes/Home Depot/Walmart/Sears/etc...etc...etc... cards.

For those who know, theoretical communism has "absence of money" as one of its attributes. I remember one Star Trek episode (Voyager) when Tuvok was explaining to someone that in their (federation) society money have become an obsolete concept. Makes me wonder...

People invent currencies all the time.

In White rural Appalachia, it's flats of pepsi cans.

When you spend your EBT card ( replacement for "food stamps"). You buy what food you want, then take the rest in Pepsi. Most people don't drink the pop; but they trade it for what they need. You can buy anything with pepsi; from baby formula to 100 lb sacks of sugar.

They call it "the Pop Train". Google it.

People go into the urban areas around appalacia, and buy the soda. Then they haul it up the mountain and sell it to some mom & pop tackle shop and make money off the mark-up. It is so common that some people end up just trading the pop around, using it to buy goods and services. People accept soda pop as payment because you can always "take the pop train" up the mountain and sell it for profit.

My point being, currency arises to meet market needs. You cannot end it without completely satisfying demand. And the globalists can't, don't or won't satisfy demand.

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I figure cannabis probably works like that now. Similar exchange economies have grown up around bullets in combat zones. 22lr bullets are that way in the rural Southwestern US.

www.zerohedge.com...

India is attacking cash as we speak. It's a bit of a national tragedy over there right now. It begins with outlawing high denomination bills.

Of course they didn't do a great job handling the transition.

a reply to: Lithicalus

They are saying even rich folks are begging poor folks to help them out.

The sad thing is that India will be a test case on what happens and then other countries will try to do something different to make the switch less messy.

I wonder how long it will take them to implement NIRP, if they haven't already. Force people out of cash then let the banks charge them a percentage for holding their money. What a scam.

Interesting thought

We hardly ever use cash anymore. I buy a lot of things online and when I go to the grocery or big box store I use a credit card. Dito for gas.

The only reason I carry cash is for when I buy something like a soda

So I could easily get by without cash.

a reply to: gpols

Yessir. I don't know if NIRP is in the running there. What I do know is that a government willing to wreck their economy for the reasons they gave is desperate indeed.

The question is, desperate for what?

Also, the price of gold should be moving up, they use a lot of it and demand just went up big time. Of course we will never see it.

There are a handful of Countries that could become cashless unless it's stopped.
money.cnn.com...

a reply to: Lithicalus

Also, the price of gold should be moving up, they use a lot of it and demand just went up big time.

It's going to go up even more if they implement that rumored gold ban. Ban cash because it allows money laundering and criminals to operate? I'd say there is an even greater chance they just made the black market even more of a problem as criminals and members of organized crime are exactly the kinds of people with the skills and resources to not only adapt but thrive in a barter society.

ETA:

The question is, desperate for what?

The central banks to come along and make the ruling class more prosperous so they can keep a tighter leash on the undesirables.

a reply to: Wildbob77

But you have the option to have cash if say the Federal Reserve decided to charge negative interest rates and you have to pay the bank whatever the rate is to hold your cash for you.

You also have to remember most of India live in poverty and cash is their primary method of transaction as they don't have access to and can't afford even the cheap electronic transaction systems.

Yeah. The euro/Scandinavian countries are a little bit more prepared for this than the Indians. They use very little cash as it is, at least the way I understand it.
a reply to: brokenghost

a reply to: Wildbob77

Think about all the untaxed cash transactions. The immigrant who gets paid to do farm work under the table or the contractor who gets paid in cash. These things will have a ripple effect through the economy.

That coke just got a little more expensive.

The problem with cash to fight the fed is their actions still wreck its value through inflation, even if it's under your mattress. If they go NIRP it will be through money printing.

This is why it's so crucial for the money managers to manipulate the price of gold through paper trading.

a reply to: gpols

a reply to: Lithicalus

Which is probably the reason why people haven't been able to form groups and stop or even denounce what their gov are doing there, or they're just sheep.

So, for American ATSers, a beginning question is whether the US Mint is printing less money each year.

The Federal Reserve is supposed to publish that information. They use a series of aggregates to describe the US economy. "M0" is supposed to represent the total value of all paper and coin currency, plus "assets that could quickly be converted to cash." M1 is M0 + cashier's checks, traveler's checks, etc.. M2 = M1 + savings accounts. And so forth.

Basically, there has been an overall upward trend in the volume of notes printed, while the overall value (M0) has remained flat or slightly positive.

I suspect at least part of this is due to the fact that Mexican immigrants distrust banks. Partly this is due to their fears of being traced through their financial transactions, and being taxed on their illegal income. The other part is cultural--Mexican banks are notoriously corrupt, and "misplacing" the funds of small-time depositors is commonplace.

Long story short, the globalists cannot really take the USA off of printed money without having a serious negative impact on undocumented residents here. Oh the humanity.

EDIT TO ADD:

70% of Mexican consumers don't own a single bank account.

How will Uncle Sam force them to conform, in order to tax them through NIRP?

I think banning cash is a globalist agenda, at the risk of sounding kooky.

In order for it to work it is going to have to be worldwide, or massive amounts of wealth is going to cross borders into tax havens.

Doing it country by country is going to cause some interesting market fluctuations. I think this is bigger than Uncle Sam. One way to do it though is to only accept electronic transactions within the U.S. as legal tender. They would have to keep some money in US bank accounts to pay their rent and buy food and beer if they are migrant workers. Then cash would be king in Mexico, there would probably be a black market system set up there to launder electronic money into something tangible, which would supplant electronic money. Unless of course we went with one world currency, then it would be more difficult, but the same thing will happen eventually.

It's also going to have to be a surprise so that people and institutions don't have time to prepare and move money to protect themselves.

All this may lead to the abandonment of the current fiat system and the creation of a stable, black market derived currency that should replace the electronic system. That process is going to take time though, there will be some chaos until it stabilizes.

It will be interesting to watch India and see what develops there as a currency, or if they just try to do business with smaller notes. Their economy is very cash heavy, just like Mexico. They will be a good case study for the future.

It's coming folks.

The FED can't do it's dirty work if we can cash out of the system they have on life support.

Metal is going to get expensive........
a reply to: redempsh

Update on the Indian Situation
www.zerohedge.com...

I seriously doubt we'll use cash in 20 years or so....sigh.
I do most things in cash now. (just because I have enough debt with a mortgage and student loans...I don't need any more). I use debit cards over credit cards. Good to have for an emergency, but hate having any credit balance.