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The War on Cash
02-17-2016, 01:48 PM
Post: #21
RE: The War on Cash
Summers is an "overeducated asshole" and living proof that there are way more of these "policy wonks" in America today, than we could ever possibly need.

It is people like him, with office walls papered with "meaningless degrees", that make them think of themselves as the smartest people that ever lived, that make me want to declare war on the establishment!

If we got rid of people like him, our country would be better off for it. What do you suppose the French, or Germans, would give for him in trade?

WC
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02-18-2016, 04:39 AM
Post: #22
RE: The War on Cash
Supply and demand!

They already have more than they need over there. ; )

The idea of getting rid of cash is a monumental thing, if people are so stupid to believe that the idea is anymore than banksters and government grabbing more power and wealth from the people, then we are surely doomed.

But when you mention the idea to some, a stock answer will be "well I always use my debit card". People live in a haze and can't see the intended consequences of those stealing their wealth and liberty. We may be surely doomed.
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02-18-2016, 08:47 AM
Post: #23
RE: The War on Cash
......" People live in a haze and can't see the intended consequences of those stealing their wealth and liberty. We may be surely doomed"......

Look at most any "current events" today and you will see large circles of these kind of people standing around and staring at the actions......trying to figure out what is really going on......that is if they even care!

The "gullibility" of people today is profound, thinking of nothing else but their own immediate need, not realizing the piranha can turn on them in a heartbeat!

WC
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02-19-2016, 06:58 PM
Post: #24
RE: The War on Cash
https://www.lewrockwell.com/2016/02/no_a...il-insane/

More talk about negative rates
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03-09-2016, 07:13 AM (This post was last modified: 03-09-2016 07:15 AM by Mike G.)
Post: #25
RE: The War on Cash
http://www.paulcraigroberts.org/2016/03/...g-roberts/

Central banks, neoliberal economists, and the presstitute financial media advocate negative interest rates in order to force people to spend instead of save. The notion is that the economy’s poor economic performance is not due to the failure of economic policy but to people hoarding their money. The Federal Reserve and its coterie of economists and presstitutes maintain the fiction of too much savings despite the publication of the Federal Reserve’s own report that 52% of Americans cannot raise $400 without selling personal possessions or borrowing the money. http://www.federalreserve.gov/econresdat...201407.pdf
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03-12-2016, 07:16 AM
Post: #26
RE: The War on Cash
(03-09-2016 07:13 AM)Mike G Wrote:  http://www.paulcraigroberts.org/2016/03/...g-roberts/

Central banks, neoliberal economists, and the presstitute financial media advocate negative interest rates in order to force people to spend instead of save. The notion is that the economy’s poor economic performance is not due to the failure of economic policy but to people hoarding their money. The Federal Reserve and its coterie of economists and presstitutes maintain the fiction of too much savings despite the publication of the Federal Reserve’s own report that 52% of Americans cannot raise $400 without selling personal possessions or borrowing the money. http://www.federalreserve.gov/econresdat...201407.pdf
"The Federal Reserve is quietly continuing with one of the many outrageous bank-bailout programs it initiated during the financial crisis--the one in which it pays big banks interest on their "excess reserves."

What are "excess reserves"?

Money that the banks have but aren't lending out--money that banks are just keeping on deposit at the Fed.

The Fed is paying banks 0.25% interest on this money.

0.25% interest may not sound like much, but it's more than the banks are paying you to keep money in your savings or money-market account. It's also more than you'll earn if you lend the Federal government money for 2 years.

Oh, by the way, why, exactly, are you earning so little interest in your savings accounts and money-market funds?

Well, because, thanks to another one of its bank-bailout programs, the Fed is keeping short-term interest rates at zero.

In other words, the Fed is paying banks not to lend money and screwing you, American citizens, because you're dumb enough to have saved money."
http://www.businessinsider.com/governmen...end-2011-8
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03-12-2016, 07:42 AM (This post was last modified: 03-12-2016 07:43 AM by woodcanoe.)
Post: #27
RE: The War on Cash
We took our money out of the banks several years ago as it was both a "losing proposition" and a good chance to lose your cash....with little to no warning.

There is a strong flow of "bitter memories" in my family that goes back to 1929.......and the early 30's. My grandfather had a small business that did quite well. He had $5,000 (lot of cash in 1929) in one of the most conservative banks in Maine. By the time it was over he got less than $50 back out of it.

FDR closed the banks then got gold "outlawed", and the race to the modern disaster was on. Roosevelt had to close the banks, to keep citizens from destroying them by taking away the assets, and he had to outlaw gold as he would not have been able to expand the money supply otherwise. The monetary system has NEVER been the same since.

WC

I think a good "monetary system" has to use currency that is backed by something other than the "promises of liars"!

WC
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03-18-2016, 07:34 AM (This post was last modified: 03-18-2016 07:40 AM by Roger Ek.)
Post: #28
RE: The War on Cash
Good thread:

"A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently and die gallantly. Specialization is for insects." -- Robert A. Heinlein

I have done every single one of those except die gallantly, but I have faced it and did not blink. Good words from old Bob.

In March of 1998 I went to DC for a business meeting. The only chance I would have to visit our Wall was before breakfast so I walked there at 5 AM. I looked at the names of my friends and remembered them as young men. On the first day of spring the sun rises at 6 AM everywhere in the world. As the sun rose beside the Washington Monument the Names began to appear on that black granite and it was almost as though they were blinking on, one at a time. It was as though the Names were coming out of hiding and showing themselves. I wrote this on a 3x5 card I had in my pocket:

I went to the Wall this morning.
T'was early, dark and cold
No one was there in mourning.
In silence I felt old.

Some joggers paused in passing
In deference to the Names.
Some children ran by playing
Unknowing in their games.

The Names came out of hiding
As the sun performed its thing
And I went back to business
On this first day of spring.

Roger Ek
Seawolf 25
3/21/98
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03-27-2016, 06:12 AM (This post was last modified: 03-27-2016 06:15 AM by Mike G.)
Post: #29
RE: The War on Cash
Txs Roger

http://www.internationalman.com/articles...-precipice

It’s part of the Keynesian view, in which spending and consumption drive the economy. This isn’t just wrong, it’s the exact opposite of what’s true. It’s production and saving that drive an economy. You have to save to build capital, and capital is necessary for… everything. What these people are doing is destructive of civilization itself. And when we go into the next crisis, governments will use the disastrous results of their own policies as excuses to enact even more destructive versions of the same things. As the sociopathic mayor of Chicago said, they never want to let a serious crisis go to waste. These people really believe that they should have more, perhaps even unlimited, power.
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04-05-2016, 04:21 PM
Post: #30
RE: The War on Cash
https://mises.org/blog/cash-banned-freedom-gone

Cash helps to protect the citizen from an unfettered intrusiveness by the state. If the state increases taxes too much, citizens at least have the option to avoid the tribulation by paying in cash. The knowledge that citizens can do so, makes states hold back a little.

States will give up any restraint once cash has been banned. The justified concern isn't at all rendered obsolete by the cases of Sweden and Denmark, where the cashless society is said to function to its perfection. The citizens of those countries can still use foreign cash if they want.
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