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24 Nov 15
11:28
Joined:
Date Joined:
29 Sep 10
When paper money no longer exists. When your cash is digital. there will no longer be any wiggle room. If apple closes down your account refuses to deal with you and your digital wallet is no longer valid. how do you live without money. you will not be able to buy or sell or trade if you are blackballed. every transaction will be mapped. you won't be able to steal and sell on. bank robberies will be redundant. crime will be limited to stealing goods you can use.
cut an apple in half you will see a five pointed star in a circle - a pentagram. The apple is used as the symbol of knowledge. Gravity story: the apple falls out of the tree to hit sir Isaac on the bonce. Adam and eve ate the fruit(maybe an apple) from the tree of knowledge of good and evil.
so this Christmas... buy an apple phone. you know it makes sense.
cut an apple in half you will see a five pointed star in a circle - a pentagram. The apple is used as the symbol of knowledge. Gravity story: the apple falls out of the tree to hit sir Isaac on the bonce. Adam and eve ate the fruit(maybe an apple) from the tree of knowledge of good and evil.
so this Christmas... buy an apple phone. you know it makes sense.
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If you want dystopia then look no further than a snoopers charter sold on the back of terrorism but which then gives the ability to churn data to eliminate the black market all together.
A tax system that knows what you have and how you got it, knows everything to know about you as everything will be accessible given the argument they are searching for events that 'harm the economic future of the country' and can predict what you will do next.
Apple arnt the state.
A tax system that knows what you have and how you got it, knows everything to know about you as everything will be accessible given the argument they are searching for events that 'harm the economic future of the country' and can predict what you will do next.
Apple arnt the state.
correct ebul, its just done in a fashion that people cant instantly see.
Makes one wonder if fiction doesnt actually shape reality rather than the other way around.
Makes one wonder if fiction doesnt actually shape reality rather than the other way around.
http://moneyweek.com/wp/petition-hands-off-our-cash
Hands Off Our Cash!!
A petition to the government on behalf of
British savers and investors
Whereas the Bank of England’s Chief Economist Andrew Haldane announced on 18th September 2015 his intention to abolish use of cash in Britain in order to allow the bank to impose negative interest rates on savers;
Whereas this would allow banks to charge you to keep your money on deposit and make it impossible to remove your money as cash in response;
Whereas Denmark, Sweden and Switzerland have already imposed negative interest rates;
Therefore, we the undersigned, as concerned savers and investors of Great Britain, do call on Her Majesty’s British Government to:
1
Guarantee that cash will not be abolished from use in the UK
2
Guarantee that negative interest rates will not be imposed undemocratically on British savers
3
Establish a form of public consultation on the specific mandate and monetary policy limitations of the Bank of England
Hands Off Our Cash!!
A petition to the government on behalf of
British savers and investors
Whereas the Bank of England’s Chief Economist Andrew Haldane announced on 18th September 2015 his intention to abolish use of cash in Britain in order to allow the bank to impose negative interest rates on savers;
Whereas this would allow banks to charge you to keep your money on deposit and make it impossible to remove your money as cash in response;
Whereas Denmark, Sweden and Switzerland have already imposed negative interest rates;
Therefore, we the undersigned, as concerned savers and investors of Great Britain, do call on Her Majesty’s British Government to:
1
Guarantee that cash will not be abolished from use in the UK
2
Guarantee that negative interest rates will not be imposed undemocratically on British savers
3
Establish a form of public consultation on the specific mandate and monetary policy limitations of the Bank of England
http://moneyweek.com/prepare-for-the-abolition-of-cash/
Without hard cash, you’ll be entirely at the mercy of the feds.
Investors are losing confidence. Maybe they’re wondering how the world’s $200trn in total debt (roughly 300% of total output) can possibly be repaid. Or maybe they’re beginning to puzzle out how scammy and fraudulent the Fed’s policies are. But watch out! Reeling from the jabs of the last two weeks, expect a strong counterattack from the zombies and their allies.
Some Federal Reserve governor will come and tell us not to worry about a return to more “normal” interest rates anytime soon. And Wall Street shills will explain how markets become unreasonably fearful from time to time. They will tell investors to hunt for bargains. Why not? They may be right. There’s bound to be an inflationary blow-off up ahead. Stocks will soar. But not before they crash.
Meanwhile, watch out for that zombie counterattack. The feds will try to cut off our finances, trapping us between the anvil of the market’s deflation and the hammer of the Fed’s inflation. A couple of weeks ago, the Financial Times ran an article calling for the abolition of cash, titled: “The case for retiring another ‘barbarous relic’”. It claimed that cash causes “a lot of distortion in the economic system”.
Can you believe it? Cash causes economic distortions! From the FT: “The existence of cash – a bearer instrument with a zero interest rate – limits central banks’ ability to stimulate a depressed economy. The worry is that people will change their deposits for cash if a central bank moves rates into negative territory.” It also repeated familiar claims that cash is what finances terrorism, tax evasion, and the black market. Making cash illegal would “make life easier for a government set on squeezing the informal economy out of existence”.
You see where this is going, don’t you? If the feds are able to ban cash, they will have you completely under their control. You will invest when they want you to invest. You will buy when and what they want you to buy. You will be forced to keep your money in a bank – controlled, of course, by the feds. You will say that you have “cash in the bank”, but it won’t be true. All you will have is a credit against the bank. (Bank deposits are just IOUs from your bank to you.)
As it is now, your bank will have some cash on hand, but not nearly enough to satisfy all the claims against it. If this new attack succeeds, by law, it will have no access at all to cash. Nor will you. If the feds want to force you to spend, or invest, they will impose a “negative interest rate”. They will do this by imposing a fee, or tax, on deposits greater than the interest rate you receive on your savings.
In 2001 in Argentina, they shut the banks. When they reopened, dollar holdings had been converted to pesos, with a loss of roughly two-thirds. In 2013 in Cyprus, they hit large accounts with a 50% tax to help recapitalise the banks. In the US, JPMorgan Chase recently sent a letter to large depositors saying that, as of 1 May, it would charge a “balance sheet utilisation fee” of 1% a year. This pushed the net interest rate those depositors were earning into negative territory.
As stocks decline, you can expect more people to want to hold cash. If stocks go down 10%, the “opportunity cost” of holding cash goes down too. But if this encirclement manoeuvre works, you will be unable to get your hands on it. All you will have is a claim against some of the most insolvent debtors in the whole economy. In 2008, almost every major US bank was on the edge of bankruptcy. But if the feds succeed in cutting us off from cash, that will never happen again. The banks will just whack us all – with the full approval of the Fed, the cronies in Congress, and zombies everywhere – to make themselves whole again.
Already, several readers have reported trouble getting cash from their own accounts. Banks stall. They impose withdrawal limits. They want you to come in person. Right now, being unable to get cash promptly is merely a nuisance. But it won’t be long before new initiatives are announced to “stimulate demand”. Perhaps negative interest rates will do it. Maybe a more general tax. But sooner or later, the next credit crisis will hit hard. Then your inability to get cash will be more than a nuisance. It will be a deathblow. You will be locked into a bank account with a bankrupt institution. And the feds and their bank cronies will tell you when and how you can have access to your own money.
The feds will announce a “bank holiday”. They may ban transfers to gold sellers or foreign currency accounts. Or maybe it will just take time – while your money loses value rapidly – to get your money out. If this new campaign succeeds, it will be almost impossible to protect yourself.
• This article is taken from the free daily email Capital & Conflict.
Without hard cash, you’ll be entirely at the mercy of the feds.
Investors are losing confidence. Maybe they’re wondering how the world’s $200trn in total debt (roughly 300% of total output) can possibly be repaid. Or maybe they’re beginning to puzzle out how scammy and fraudulent the Fed’s policies are. But watch out! Reeling from the jabs of the last two weeks, expect a strong counterattack from the zombies and their allies.
Some Federal Reserve governor will come and tell us not to worry about a return to more “normal” interest rates anytime soon. And Wall Street shills will explain how markets become unreasonably fearful from time to time. They will tell investors to hunt for bargains. Why not? They may be right. There’s bound to be an inflationary blow-off up ahead. Stocks will soar. But not before they crash.
Meanwhile, watch out for that zombie counterattack. The feds will try to cut off our finances, trapping us between the anvil of the market’s deflation and the hammer of the Fed’s inflation. A couple of weeks ago, the Financial Times ran an article calling for the abolition of cash, titled: “The case for retiring another ‘barbarous relic’”. It claimed that cash causes “a lot of distortion in the economic system”.
Can you believe it? Cash causes economic distortions! From the FT: “The existence of cash – a bearer instrument with a zero interest rate – limits central banks’ ability to stimulate a depressed economy. The worry is that people will change their deposits for cash if a central bank moves rates into negative territory.” It also repeated familiar claims that cash is what finances terrorism, tax evasion, and the black market. Making cash illegal would “make life easier for a government set on squeezing the informal economy out of existence”.
You see where this is going, don’t you? If the feds are able to ban cash, they will have you completely under their control. You will invest when they want you to invest. You will buy when and what they want you to buy. You will be forced to keep your money in a bank – controlled, of course, by the feds. You will say that you have “cash in the bank”, but it won’t be true. All you will have is a credit against the bank. (Bank deposits are just IOUs from your bank to you.)
As it is now, your bank will have some cash on hand, but not nearly enough to satisfy all the claims against it. If this new attack succeeds, by law, it will have no access at all to cash. Nor will you. If the feds want to force you to spend, or invest, they will impose a “negative interest rate”. They will do this by imposing a fee, or tax, on deposits greater than the interest rate you receive on your savings.
In 2001 in Argentina, they shut the banks. When they reopened, dollar holdings had been converted to pesos, with a loss of roughly two-thirds. In 2013 in Cyprus, they hit large accounts with a 50% tax to help recapitalise the banks. In the US, JPMorgan Chase recently sent a letter to large depositors saying that, as of 1 May, it would charge a “balance sheet utilisation fee” of 1% a year. This pushed the net interest rate those depositors were earning into negative territory.
As stocks decline, you can expect more people to want to hold cash. If stocks go down 10%, the “opportunity cost” of holding cash goes down too. But if this encirclement manoeuvre works, you will be unable to get your hands on it. All you will have is a claim against some of the most insolvent debtors in the whole economy. In 2008, almost every major US bank was on the edge of bankruptcy. But if the feds succeed in cutting us off from cash, that will never happen again. The banks will just whack us all – with the full approval of the Fed, the cronies in Congress, and zombies everywhere – to make themselves whole again.
Already, several readers have reported trouble getting cash from their own accounts. Banks stall. They impose withdrawal limits. They want you to come in person. Right now, being unable to get cash promptly is merely a nuisance. But it won’t be long before new initiatives are announced to “stimulate demand”. Perhaps negative interest rates will do it. Maybe a more general tax. But sooner or later, the next credit crisis will hit hard. Then your inability to get cash will be more than a nuisance. It will be a deathblow. You will be locked into a bank account with a bankrupt institution. And the feds and their bank cronies will tell you when and how you can have access to your own money.
The feds will announce a “bank holiday”. They may ban transfers to gold sellers or foreign currency accounts. Or maybe it will just take time – while your money loses value rapidly – to get your money out. If this new campaign succeeds, it will be almost impossible to protect yourself.
• This article is taken from the free daily email Capital & Conflict.
You can't accuse the forum of lacking fertile imaginations can you.
http://www.sciencealert.com/sweden-is-on-track-to-become-the-world-s-first-cashless-society
Sweden is on track to become the world's first cashless society
Brilliant.
BEC CREW
16 OCT 2015
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Sweden is set to become the first cashless society in the world, researchers report, crediting the shift towards electronic-only transactions to a new mobile payment system called Swish, which facilitates real-time deposits with no minimum spend.
"Cash is still an important means of payment in many countries' markets, but that no longer applies here in Sweden," says Niklas Arvidsson from Stockholm's KTH Royal Institute of Technology. "Our use of cash is small, and it's decreasing rapidly."
Right now, there's less than 80 billion Swedish crowns in circulation (about EUR8 billion) and Arvidsson says out of that, only 40 to 60 percent is actually still in regular circulation. The remainder has been buried in people’s backyards, in their sock drawers, or is being used for criminal activity. To give you an idea of how quickly the Swedes are rejecting cash, just six years ago, that figure was up around SEK106 billion.
There are a couple of main factors that appear to have contributed to Sweden’s rapid swift towards electronic-only transactions. Not only have businesses done away with the 'minimum spend' rule when it comes to EFTPOS and credit card transactions, but there’s been a huge uptake of mobile app called Swish, which is the result of a collaboration between several major Swedish and Danish banks.
The app allows for real-time transactions to take place, with users able to transfer money straight from their bank account to anyone else with a bank account, whether they’re at a restaurant, in a cab, or at the flea market. According to Arvidsson, the Swedes love Swish so much, it’s already revolutionising the local banking system, with several major banks refusing to accept cash at all, and as of late last year, four out of every five purchases in the country were being made electronically.
"Swedes are pretty trusting and we’re used to embracing new technology so this was the perfect solution," Pia Stolt from Situation Stockholm, a local street paper sold by homeless vendors that made itself Swish-friendly early on, told The Guardian late last year. "The cashless society campaign we’re seeing in Sweden is definitely a good move as far as we are concerned - it’s unstoppable."
The other factor at play is the country’s crackdown on money laundering and organised crime, which has set so many guidelines in place about cash use, most people just opt for Swish or bank cards.
"At the offices which do handle banknotes and coins, the customer must explain where the cash comes from, according to the regulations aimed at money laundering and terrorist financing," says Arvidsson, adding that if any cash transactions are considered 'suspicious' by bank staff, they're required to file a police report.
"In general, the rule of thumb in Scandinavia is: 'If you have to pay in cash, something is wrong,'" writes Mikael Krogerus for Credit Suisse.
While Sweden is closer than any other country on Earth towards the goal of cashlessness, there are some major challenges to overcome first. Besides a possible uptick in cybercriminals trying to access bank servers and parents having to figure out how to responsibly give their 10-year-old child access to a debit card, pensioners who are unfamiliar with the technology, and those who don’t have access to it will continue to use cash in the near future, and cannot be discriminated against for doing so. Arvidsson points to a recent survey that showed two-thirds of Swedes think carrying cash is a human right, whether or not they actually want to do it.
"We like having our own currency and it fits in with the identity of being a Swede; we’re even releasing new banknotes in 2015," he told Helen Russell at The Guardian. "So people like to know their cash is there, even if they don’t necessarily use it."
Sweden is on track to become the world's first cashless society
Brilliant.
BEC CREW
16 OCT 2015
Facebook Icon
Twitter Icon
Sweden is set to become the first cashless society in the world, researchers report, crediting the shift towards electronic-only transactions to a new mobile payment system called Swish, which facilitates real-time deposits with no minimum spend.
"Cash is still an important means of payment in many countries' markets, but that no longer applies here in Sweden," says Niklas Arvidsson from Stockholm's KTH Royal Institute of Technology. "Our use of cash is small, and it's decreasing rapidly."
Right now, there's less than 80 billion Swedish crowns in circulation (about EUR8 billion) and Arvidsson says out of that, only 40 to 60 percent is actually still in regular circulation. The remainder has been buried in people’s backyards, in their sock drawers, or is being used for criminal activity. To give you an idea of how quickly the Swedes are rejecting cash, just six years ago, that figure was up around SEK106 billion.
There are a couple of main factors that appear to have contributed to Sweden’s rapid swift towards electronic-only transactions. Not only have businesses done away with the 'minimum spend' rule when it comes to EFTPOS and credit card transactions, but there’s been a huge uptake of mobile app called Swish, which is the result of a collaboration between several major Swedish and Danish banks.
The app allows for real-time transactions to take place, with users able to transfer money straight from their bank account to anyone else with a bank account, whether they’re at a restaurant, in a cab, or at the flea market. According to Arvidsson, the Swedes love Swish so much, it’s already revolutionising the local banking system, with several major banks refusing to accept cash at all, and as of late last year, four out of every five purchases in the country were being made electronically.
"Swedes are pretty trusting and we’re used to embracing new technology so this was the perfect solution," Pia Stolt from Situation Stockholm, a local street paper sold by homeless vendors that made itself Swish-friendly early on, told The Guardian late last year. "The cashless society campaign we’re seeing in Sweden is definitely a good move as far as we are concerned - it’s unstoppable."
The other factor at play is the country’s crackdown on money laundering and organised crime, which has set so many guidelines in place about cash use, most people just opt for Swish or bank cards.
"At the offices which do handle banknotes and coins, the customer must explain where the cash comes from, according to the regulations aimed at money laundering and terrorist financing," says Arvidsson, adding that if any cash transactions are considered 'suspicious' by bank staff, they're required to file a police report.
"In general, the rule of thumb in Scandinavia is: 'If you have to pay in cash, something is wrong,'" writes Mikael Krogerus for Credit Suisse.
While Sweden is closer than any other country on Earth towards the goal of cashlessness, there are some major challenges to overcome first. Besides a possible uptick in cybercriminals trying to access bank servers and parents having to figure out how to responsibly give their 10-year-old child access to a debit card, pensioners who are unfamiliar with the technology, and those who don’t have access to it will continue to use cash in the near future, and cannot be discriminated against for doing so. Arvidsson points to a recent survey that showed two-thirds of Swedes think carrying cash is a human right, whether or not they actually want to do it.
"We like having our own currency and it fits in with the identity of being a Swede; we’re even releasing new banknotes in 2015," he told Helen Russell at The Guardian. "So people like to know their cash is there, even if they don’t necessarily use it."
Arvidsson points to a recent survey that showed two-thirds of Swedes think carrying cash is a human right, whether or not they actually want to do it.
So there you are, you oppose this you Swedes
So there you are, you oppose this you Swedes
http://www.independent.co.uk/news/world/europe/noways-biggest-bank-dnb-calls-for-the-end-of-cash-a6828796.html
Norway's biggest bank DNB calls for the end of cash
Norway's largest bank has called for the country to go totally cashless over fears of illegal activity.
DNB has said 60 per cent of Norwegian cash usage is out of government control and is being used in money laundering schemes and black market deals.
Executive vice president Trond Bentestuen told VG there is approximately 50 billion kroner in circulation with the central Norges Bank only being able to account for 40 per cent of its use.
Read more
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Three-year-old boy 'raped at asylum centre in Norway'
Norway: refugees given classes on sexual norms
He added:"That means that 60 per cent of money usage is outside of any control.
"We think much of it revolves around the black economy and money laundering.
"There are so many dangers and disadvantages associated with cash, we have concluded that it should be phased out."
The Norwegian Ministry of Finance has opposed the bank's proposal while Mr Bentestuen has admitted the process of going cashless "will likely take some time".
Norway's biggest bank DNB calls for the end of cash
Norway's largest bank has called for the country to go totally cashless over fears of illegal activity.
DNB has said 60 per cent of Norwegian cash usage is out of government control and is being used in money laundering schemes and black market deals.
Executive vice president Trond Bentestuen told VG there is approximately 50 billion kroner in circulation with the central Norges Bank only being able to account for 40 per cent of its use.
Read more
Norway tells 5,500 refugees: get on your bikes and ride back to Russia
Three-year-old boy 'raped at asylum centre in Norway'
Norway: refugees given classes on sexual norms
He added:"That means that 60 per cent of money usage is outside of any control.
"We think much of it revolves around the black economy and money laundering.
"There are so many dangers and disadvantages associated with cash, we have concluded that it should be phased out."
The Norwegian Ministry of Finance has opposed the bank's proposal while Mr Bentestuen has admitted the process of going cashless "will likely take some time".
How would negative interest rates sit alongside NS&I's claim that your deposits are 100% safe and guaranteed?
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