"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Monday, October 19, 2015

A War on Cash - Making it illegal to use cash

Making Your Cash Illegal

  • Since the 1930s Leftists of both parties have allied with Big Business to abolish real money (gold, silver and copper).
  • That war on cash goes on to this day.  Big Government tracks you by forcing banks to report you if you dare to withdraw too much of your cash from the bank or pay large bills with cash.
  • Banks are happy to join with the government in this war. Big banks collect billions of dollars in "fees" when you pay for products and services with electronic payments. They get nothing when you use cash.

(Wall Street Journal)  -  U.S. banks are going to new lengths to ward off a surprising threat to their financial health: big cash deposits.
State Street Corp., the Boston bank that manages assets for institutional investors, for the first time has begun charging some customers for large dollar deposits, people familiar with the matter said. J.P. Morgan Chase & Co., the nation’s largest bank by assets, has cut unwanted deposits by more than $150 billion this year, in part by charging fees.
The developments underscore a deepening conflict over cash. Many businesses have large sums on hand and opportunities to profitably invest it appear scarce. But banks don’t want certain kinds of cash either, judging it costly to keep, and some are imposing fees after jawboning customers to move it.
The banks’ actions are driven by profit-crunching low interest rates and regulations adopted since the financial crisis to gird banks against funding disruptions.
“At some point you wonder whether there will be a shortage of financial institutions willing to take on these balances,” said Kelli Moll, head of Akin Gump.
Read More . . . .

Inflating the Money Supply
Our bipartisan political hacks need money to spend, and there is no better way to spend than to "create" pretend Monopoly money out of thin air.
In 1983 under "Conservative" Ronald Reagan (and a GOP Senate) the penny went from 95% copper to a next to worthless 97.5% zink metal.
Earlier the Democrat Congress passed the Coinage Act of 1965 which eliminated silver from the circulating dimes and quarter dollars of the United States.  Now both paper money and coins have no meaningful value.

Read More . . . .

Making Real Money Illegal
In the olden days U.S. money was backed by gold.
By abolishing a gold backed dollar the politicians were
free to print all the money needed to buy their
re-election every two years.

Until FDR made it illegal you could take a paper bill to a Federal Reserve bank
and turn it in for gold (lawful money).

1 comment:


Artificial Constructs - There are non-physical structures to many things in life that the human can recognize through reasoning. the structures (the constructs) are not physically real, and yet they exist. Logic and philosophy rely on a lot of artificial constructs, ways of defining things that arise only through thought and have no real physical existence.

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