Earlier this month, the European Central Bank recommended that the 500 Euro note must be eradicated. Not long after, academics and policy makers in the US began to call for the removal of the $100 bill. This certainly is not something that the average individual really considers on a regular schedule, or even cares about. The huge majority of our purchases are carried out through digital channels these days. Unless you are about to purchase a used car on Craigslist, you most likely will not be needing the hundred-dollar bill. For most folks, getting rid of it would be an inconvenience at best.
So what gives? Why is anyone even thinking about the eradication of these bills? It looks like there is simply no need for it.
The reality is there are a lot of factors why governments and banks want to get rid of these high denomination notes, and none of them are decent. It should go without expressing that the folks who are pushing this are not going to give you a straight answer. You are going to hear them give the same justification over and over again for the foreseeable future: Large denominations are indispensable for black market transactions. They permit drug dealers, tax evaders, corruption, and terrorism.
But that is just what they will point out in the outset. One day they will give all those same excuses, other than instead of suggesting the elimination of large denomination bills, they will recommend we get rid of cash instead.
That’s correct. What the government, multinational corporations, and the central banks truly desire, is a entirely cashless society, and they are going to begin by removing the bills we do not utilize very often. Pro-gun supporters will recognize this strategy as the “slippery slope.” Start out with something modest that sets a precedent, and silently get rid of everything over a long period time so no one sees.
Get rid of certain bills, limit large cash purchases, demonize folks and businesses that hold large amounts of cash and confiscate their wealth through asset forfeiture, flag bank accounts that transfer large sums of money, etc. You may understand some of those as policies that are already in place. The anti-cash mission is taking place right now, and here is the real explanation why:
For beginners, there are folks in both the public and private sector that wish to track everything you do. Like a stalker, they just really really want to get to understand you better. They want an intimate information of what you buy and sell. The corporations that are in bed with our government would love to have this understanding, so they can do a better job of tailoring their marketing to you.
The governments that are in bed with the corporations want to utilize that information to rule every aspect of your life. You can not live if you can not buy and sell, so without having cash you will be locked into a system that you can not opt out of. They point out that cash is for terrorists and criminals, but they do not want you to understand that you are in the same boat as them. No cash signifies no anonymous transactions.
The second major reason? They want to rob you. Taxes are not sufficient. They can not bring themselves to quit spending our money and putting us into debt, and we do not want to give them anymore money, so raising taxes through a legitimate political process is off the table.
Alternatively they are going to lower your interest rates. How low? Ideally they want negative interest rates. They want to make it unattainable for you to save money. The justification for this will be different from before. They will do it when the next major recession strikes, so they can point out that it’ll be great for the economy. If saving money means losing money, then you will spend money, therefore supporting the economy. But really, they just want to legally rob you (insert taxation joke here). They understand that if cash isn’t eradicated before these negative rates are executed, you can simply pull your money out of the bank and conceal it in your mattress. They do not want to leave you with any choice.
As you can observe, physical cash is an important means for maintaining your liberty. That is why, in light of current calls to disband high denomination bills, two right-wing Swiss politicians have suggested the exact opposite. Philip Brunner and Manuel Brandberg have recommended the creation of a 5000 franc note to guarantee the safe haven position of Switzerland’s currency. Their reason? Cash is so important to individual liberty, that it could be likened to the right to bear arms.
In this context “cash is comparable to the service firearm kept by Swiss citizen soldiers,” the pair argued in their motion, saying they both “guarantee freedom”.
“In France and Italy already cash payments of only up to 1,000 euros are allowed and the question of the abolition of cash is being seriously discussed and considered in Europe, “ Brunner said on his Facebook page.
The move toward electronic payments allows governments “total surveillance” over individuals, the pair claim.
So how will you protect your freedom if, and most likely when this comes to pass?
The most apparent solution would be to stock up on gold and silver before the cash ban occurs, because that is really the best option. Precious metals offer the only other convenient way to make untraceable purchases (you will probably begin to notice underground markets pop up to accommodate to many of the normal purchases you make every day). After all, gold and silver were the most common forms of currency until the 20th century. On the other hand you could put your money in any physical resource that may hold its value, such as land or firearms for instance; but for daily purchases, gold and silver are king.
Needless to say, the government could attempt to ban that as well. They attempted confiscating gold before and they could do it again. Nevertheless, it is not going to do them any good. When negative interest rates appear with the cashless society, there will be millions of folks moving their resources into gold and silver. They will be joining everyone who is operating in the black market, who will have already relocated into precious metals by necessity.
There would be widespread disobedience against those rules. Nobody is going to give a damn about the laws when this occurs. If the government attempts to brazenly eliminate everything you have earned throughout your entire life, you will not be too worried about the law and neither will millions of other savers. With that many individuals, it will be impossible for the government to really clamp down on it.
Truthfully, they will be just as successful in stopping you from owning gold and silver, as they are in stopping you from buying pot. And the police will have their savings wiped out as well, so they will be playing the same game you are. It’ll be prohibition all over again.
In other words, gold and silver are the best things you can purchase to ready yourself for the cashless society. A lot of individuals will be rushing into precious metals if our government chooses to get rid of cash, and the government will probably be helpless to prevent you. So stock up now before the herd understands what’s occurring to them.