Cash is King

Recently, trial balloons regarding the move to a cashless society have been appearing in various media outlets.  Among those who champion this effort are Bill Gates, an elite progressive who along with his colleagues conclude that the ruling class can make your decisions better than you can, given their elite intellect.

While a cashless society seems pretty cool and reasonable on many fronts, including efficiency, the effort to push the idea is not by accident, and should be considered yet another clandestine effort to seize additional control over the citizenry.

In the aftermath of the housing bubble crash of 2008-09, which decimated wealth and left the economy staggering, President Obama and his team, in concert with the FED, made incorrect decisions that are cascading negatively behind the scenes.

The stock market has almost tripled since '09, which is good news; unless you note the money supply is up over 5 fold during that time making your investment worth less. Legalized theft. So, all the big banks got bailed out, but who bailed you out?  Nobody.

The slate is indeed about to be wiped clean, and arenas to hide in are very limited, and the collective damage could knockout the US economy,  which would likely have a nasty ripple effect globally.  Would the IMF step up to bail the FED out, and what price would US sovereignty pay for such action?

Or will you bail the US out?

In 2013, the Cyprus government took, or stole, approximately 10 percent of cash deposits from its citizenry without consent as a described "bail-in" to help the crumbling economy gain solvency.  Should the United States suffer an unprecedented crash, don't think for a moment it could not happen here.  It would be much easier for the government to seize cash in a digital economy than to confiscate cash from the citizenry.

But that is not all.

Have you ever had a credit card cancelled, or had your available charge amount decreased?  In a cashless society, just so to limit risk on potential defaults, your purchases may be declined by the ruling class who deem you incapable of making correct low risk purchases.

With the government in charge of health care, items in your grocery cart may be declined for purchase because they do not fit the dietary regime you have been placed on by the food police.  No chocolate cookies for you!

2015 V8 Chevy Camaro

That new 6.2L 426-horsepower V8 Chevrolet Camaro you have been saving for simply does not meet the common guidelines for fuel mileage and is deemed a threat to the governmental efforts in combating global climate change; therefore, that purchase will not be granted through your bank. And cash is not legally accepted.

The list could go on, and on, and on.

While progressives make the push for a cashless society to become a reality, many are aware of the ominous threat to our freedom it really is.  Martin Armstrong, over at his Armstrong Economics blog, has an in-depth and outstanding piece where he discusses The New Age of Economic Totalitarianism.

Signature Bank Chairman Scott Shay was recently on CNBC discussing this topic, and wrote an essay noting the wide ranging threat to our freedom a cashless society is. As noted in the excellent piece attached, it would be most wise to keep your hand invisible to an oppressive and untrustworthy government.

"This would be the ultimate form of control. Because – without access to money – people couldn’t resist, couldn’t hide and couldn’t escape".

Forget going off the grid with any measurable success.

While a cashless society may ring logical to many, for those who embrace freedom, cash should always remain the base of financial operation in free markets eliminating potential manipulation.

After all, cash is king!