The war on cash is heating up as J.P. Morgan Chase, the largest U.S. bank, recently introduced policies to restrict cash in certain markets. These policies include banning cash as an acceptable payment for credit cards, mortgages and auto loans. They also recently started banning the storage of cash or coins in its safe-deposit boxes.
Last month, Citigroup’s chief economist Willem Buiter called for cash to be abolished, and stated that nothing larger than a $5 should be in circulation as we move towards a cashless society.
Government’s around the world banning Cash
Earlier this year, France used the Terror attacks in Paris as an excuse to push the cashless society agenda. In what they say is an attempt to fight “low-cost terrorism” – whatever the hell that means – come this September, France will begin closely monitoring its citizens’ transactions and withdrawals of money.
People will be banned from making cash payments of more than 1,000 euros in one transaction; and anyone attempting to convert more than 1,000 euros into another currency will need to show a valid ID card.
United States backdoor attempts to ban cash
We’ve covered numerous stories in the past; from the FBI circulating memos warning business owners to be on the lookout for people paying with cash, to the Feds illegally seizing farmers bank accounts, we’ve highlighted a number of examples of how the government is trying to demonize the use of paper money.
In fact, in many areas of the country it is actually illegal to carry large amounts of money.
Incredible as it sounds, you don’t have to be found guilty of a crime to have your assets seized by the government. Through a process called civil forfeiture, the IRS and other government agencies have been seizing law abiding citizen’s bank accounts and cash, simply because they don’t like what you’re doing with your money.
Why ban Paper Currency?
Because it’s all about control; Ban the use of paper currency and you control exactly how and when people do everything.
The push to ban currency means:
- People can be stopped from accessing their money for political reasons.
- Everything you buy, and every cent you earn will be tracked.
- It will make it almost impossible to remove money from your bank during times of crisis or emergency situations.
Banning paper currency also allows the government to track and control everything you do. With one click they can instantly shutdown political dissidents access to funds, by either by freezing or seizing their accounts. Without the ability to use paper currency, everyone’s freedom is at risk.
Think it can’t happen? It already is!
For years now the federal government has been using laws like the Bank Secrecy Act to go after businesses and people who don’t toe the party line.
Earlier this year, we covered the story of Andrew Clyde, a Navy veteran whose gun shop was targeted by the federal government as part of Operation Chokepoint. Clyde, as well as a number of other firearms companies, had his assets seized because the government claimed he structured his deposits in a way that they didn’t like.
But his story isn’t unique. Gun shops around the country have faced similar actions, after the FDIC labeled gun retailers as “High Risk”, putting them in the same category as businesses who sell drug paraphernalia. At the same time, the Obama administration ordered the Justice Department to launch “Operation Chokepoint,” in which Eric Holder and the DOJ attempted to force banks into cutting ties with gun dealers – even though these dealers had excellent credit and valid firearm licenses.
Why Banning Cash is so Dangerous…
Although it will be sold to the public as a way to protect the economy, and end things like bank runs and bank failures, the truth is it will only exacerbate the problem. While the banks may be protected, you will not be.
The moment a crisis hits, it will become impossible for you to access your funds. If cash is banned, and everything becomes digitized, what’s to stop a government from telling you when and how much money you can spend?
Right now in Greece, the government is attempting to tax its citizens every time they take money out of the ATM. Greece has revealed they will introduce a surcharge for all cashpoint withdrawals and financial transactions in a desperate attempt to prevent citizens from withdrawing money from the country’s troubled banks. As the Greek economy teeters on the verge of bankruptcy, the government is more concerned with taking its citizen’s money than helping them survive.
A thought for those who believe their government can do no wrong…
Even if we put these arguments on the back burner for a moment, and pretend that no government would ever do anything wrong towards its people, what happens during a natural disaster where the power grid goes down? How will you pay for goods and services if everything is run through electronic transactions?
Amen brother. I have been fearing a cashless society for a long time. Some private businesses are already doing this, and I never realized the full extent of threat until I read this article.
If a business didn’t accept my cash, I’d shop elsewhere!
That is my policy as well, but unfortunately the government will force all businesses to not except cash, then there will be no place to take our business. Look at the Colorado marijuana stores. Banks won’t give them bank accounts, because marijuana is against federal law, so the have to except cash. Then , when they try to make a large purchase in cash, the federal government requires that they be turned in. Most of them are setting on safes with many-thousand dollars in them.
If the government (AKA central banks) bans cash, in a very short time you won’t have any to take elsewhere.
The wealthy will quickly buy up existing liquid cash and hoard it. It will disappear quickly.
so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.
Rev 13:17
Just a matter of time.
The pace of the “Implosion ” has accelerated to near warp speed … get ready because it is now here.Make all questionable purchases now..May God Help us all.
May God help the elite when we finally wake up and storm the Bastille!
“This note is legal tender for all debts, public and private.”
It says that on each bill!
I do not see any other explanation of ending physical cash money other than to control and manipulate spending.
Exactly, total control over people. Government could starve you and make you homeless with a push of a button!
This will backfire on them eventually. It will cause a black market underground economy to boom. People will barter & trade or use precious metals as currency.
In our area of central Florida, BOA has now closed all drive-up lanes. You now must use the ATM, which has limits on how much you can take out, or go inside. It really sucks, since most of our general laborers, like lawn care ETC get paid in cash. You go to the bank now and the line is out the door waiting to make cash deposits.
What about gold and silver?
ALL banksters should be made’cashless’……for starters..then they should become light pole ornaments……..along with all the lawyers and politicians ,that defend their ‘criminal activity……imho
So… in this purportedly cashless society, you can still make transactiosn to bankroll yourself into silver or gold… so stockpile the crap out of it, then maybe melt and form it into individual coins, from 1/10th of an ounce up. you now have your own currency that many people will accept.
this will backfire and create an alternate currency within the populace by those in the know that will bankrupt the banks and the government even faster.
Banning cash will be like cutting your nose off to spite one’s face. The government will reap what it sows. Blindly running on the super ego, the governemnt’s hubris will be the spark of its own undoing.
This is just ridiculous. In the first place, as mentioned above, the FRN (federal reserve note) is only considered “money” because of the legal tender law that states that it is “legal tender for all debts public and private”. This means that it is actually unlawful to refuse to accept FRN’s as payment for a debt. It also means that any state law banning cash would be in direct contradiction to the federal legal tender laws.
If you sweep aside or nullify these legal tender laws then the FRN would quickly become worthless as people who are given a choice will refuse to accept it and demand payment in real money. What prevents people from doing this today is not the “confidence in the dollar” but these very legal tender laws.
I suppose that the government could amend the legal tender law to read what? That bank credits are the new legal tender? Rule by banksters????
so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.
Revelation 13:17 (NIV)
J.P. Morgan Chase now requires I.D. to deposit any cash into personal accounts. They claim this is to stop Money Laundering. This has been going on for some time with the commercial bank accounts at J.P. Morgan.