The speed with which the wheels are coming off of the global financial system is intensifying.
Financial Armageddon is not on the menu tomorrow, but this train has left the station, and it’s important that you stay ahead of it.
I wrote a short article a couple of days ago pointing out that there was a systematic effort to eliminate cash as money. I cited the efforts of the largest bank in Norway to eliminate cash altogether.
Here is a clip from that piece:
There is a major global effort to eliminate cash as a form of money and replace it with digital money – zeroes and ones.
One example: Norway’s biggest bank has called for the elimination of cash.
In case you thought this was simply the act of a group of pin-striped Norwegian bankers that had been on a weekend aquavit bender, think again.
In the last few years:
- “Italy made cash transactions over €1,000 illegal;
- Switzerland proposed banning cash payments in excess of 100,000 francs;
- Russia banned cash transactions over $10,000;
- Spain banned cash transactions over €2,500;
- Mexico made cash payments of more than 200,000 pesos illegal;
- Uruguay banned cash transactions over $5,000; and
- France made cash transactions over €1,000 illegal, down from the previous limit of €3,000.”
The “War on Drugs”, the “War on Poverty” and the “War on Terrorism have all been dismal failures. But make no mistake, the “War on Cash” that is being gestated here by bankers and governments has a clear path to victory.
I have also been writing to you about “Bail Ins”, the procedure whereby “troubled” banks confiscate deposits of some customers and convert them to stock in the bank.
The prior article informed you that the European Union had authorized Bail In procedures for all EU banks. A friend in Moscow just informed me that the Russian Ministry of Finance just authorized Bail Ins in Russia. (January 29, 2016)
Here are a couple of links to that story (but please note, they are in Russian and have to be translated with Google Translate if you want to read them – which I did.)
If you want solutions to this growing and precarious banking and financial scene, let me make a completely immodest recommendation.
Go to Amazon and buy and read The Coming Financial Crisis – A Look Behind the Wizard’s Curtain by yours truly. It is written to inform and empower the reader.
Keep your Powder Dry,
John Truman Wolfe