The Elite are now taking strong actions to replace cash with digital currency, because it is easier to control the people using digital currency. If you do not want to lose total control of your money, do not agree to do all your transactions using digital currency. Say no to a cashless society and pay goods and services with cash whenever possible. Furthermore, learn how to barter and study how money truly works. – Pao Chang
By Jack Burns, contributor for TheFreeThoughtProject.com
In 2015, as a guest on Ron Paul’s Liberty Report, Economics Professor Joseph Salerno warned of a coming war on cash. Apparently, now, that time has come. Governments loathe cash transactions because they’re private and hard to tax. As a result, some countries are taking drastic measures to reclaim their bank notes.
Salerno said, “The French premier last year (2014) drew a parallel between the war on terror and the war on cash,” and warned the world’s economic elite are now “using the war on terror as a cover to get at cash.” The Mises Institute professor and VP predicted to Paul, “I think this could come in the next couple of years. If they have to bail out the financial system again…they’ll block the cash in the banks to prevent it from escaping and destabilizing these fractional reserve banks,” Salerno said.
At the time of the interview, 2015, Salerno said the war on cash has already begun in the U.S. and pointed to Citibank’s new policy which disallows patrons to use cash to pay their mortgages and credit cards with cash. He also pointed to Louisiana’s new law forcing “second hand dealers defined as Goodwill Stores, Flea Markets, Garage Sales, to report any cash transactions in which they were receiving or paying cash, and they had to report them on a daily basis to the local police authorities.” He said, “they (secondhand stores) had to get the sellers’ names and license plate number and a number of other of private details.”
“This is only a first step,” even though it was only on a state level. “It would be awful if it was on a federal level,” Salerno declared.
While it hasn’t happened yet on a federal level in the United States, cash reclamation is occurring today in India. But before we get to what’s taking place in India, we must first examine the reasons frequently given by government to resort to controlling the public’s access to cash. Salerno stated the government offers phony reasons why it must control cash. It’s to prohibit terrorists, tax evaders, money launderers, and profiteering by drug cartels. If one hears the government making such claims, get ready, a cash grab is about to happen.
Salerno pointed to Greece’s implementing a “cash point charge” for withdrawing Euros from their bank accounts, allowing government to charge citizens for withdrawing their own funds. He says mainstream economists have been promoting the war on cash for some time in order to prop up fledgling banks.
“I assure you other governments are watching this experiment (in Greece),” he said. Salerno also stated the real war on cash seeks to “force the public to make payments to the financial system” in order to “enable governments to expand their ability to spy on and keep track of their citizens’ most private financial dealings in order to milk their citizens out of every last dollar of tax payments that they claim are due.” He stated another reason to destabilize cash is to “prop up the unstable fractional reserve banking system which is in a state of collapse all over the world.”
Keep in mind, Salerno made his comments a year ago.
Fast forward to 2016, and the world is now witnessing the first major bank to announce it will no longer accept cash deposits or deal in cash. Citibank Australia’s head of retail bank Janine Copelin offered an explanation saying, “We have seen a steady decline in the demand for cash services in our branches — in fact, less than 4% of Citi customers have used this service in the last 12 months.” The company stated it will no longer handle currency as a result.