Post by Deleted on May 5, 2015 17:07:38 GMT -6
SOURCE:
Just incase you missed this little tidbit of information, a cashless society allows central banks to go negative on interest rates. Why you ask? Because they can now force you to pay the interest on money they borrow. How do they do this you ask? Why they just go and take it out of your account with a few keystrokes, that's how, with a note on your statement of an interest payment on a bank loan you didn't even make. Now not only are you responsible for overspending by our illustrious government. Checking with usdebtclock.org thats a little over 18 trillion. Now you're responsible for borrowing money done by central banks.
Again another implication of going cashless, you can't keep your money anywhere but on deposit. There is no managing your tax return, no debate, no adjustments. There it is in black & White they will take it. Save it make some interest, take it.
So there is no benefit to saving, but for me more importantly is every penny you spend on anything the banks and government know where and what. That also means you can be tracked through your purchases anywhere in the world in real time. No money under the mattress for a SHTF scenario, no coffee can in the back yard filled with twenties, no floating a check the day before payday nothing. They will even know how many carrots Dirk bought this week and with Obama care want to know why they were chocolate covered. You need to eat better Mr. Gently.
The mantra for sometime now has been we need to be more like Europe and with 4 countries over there doing it it's appears to be a matter of time. So tell me about your barter plans and how your going to make that work, without the other person and a lot of other persons doing the same thing for it to work. I am glad I am an old guy I am not going to have to suffer this nonsense for to long as will some of you youngins.
This is bad, bad for America, and bad for our society. You will have no way to prepare yourself for a SHTF financially, going to your bug out location will only tell them where and when you got there. And more than anything during a bug out situation they can flip the monetary switch and you're going to have to stay put for the most part. So store your food, water, and fuel now it's going to get harder later. Besides this will eliminate the competition for the sale of drugs for the government.
1) governments are unable to eliminate deficits
2) global government debt is increasing exponentially
3) 0% interest rates are allowing governments to borrow more to pay off old loans and fund deficits
4) Global growth is declining despite money printing and bailouts And, we've saved the latest and greatest fact for last: as stunning as 0% interest rates sound, the mathematically-challenged-fantasyland called Europe has just one upped everyone by introducing NEGATIVE INTEREST RATES.
As of writing, over 25% of all bonds issued by European governments has a guaranteed negative return for investors.
Germany can borrow money for 5 years at an interest rate of NEGATIVE 0.10%. Yes, instead of Germany paying you interest when you lend them money, you have to pay them interest.
These same negative interest rate conditions exist across many of the Eurozone countries, as well as Denmark, Sweden and Switzerland.
Since the majority of the investment industry unequivocally supports world central banks, it has convinced itself that negative interest rates are actually good for the worldís economy and it will help the world along its sunny path to economic freedom.
Call us dumbstruck, dumbfounded or just plain dumb. But, our every analysis of these policy moves always brings us to the same conclusion and there ís a pretty big adjustment in financial markets on the horizon.
2) global government debt is increasing exponentially
3) 0% interest rates are allowing governments to borrow more to pay off old loans and fund deficits
4) Global growth is declining despite money printing and bailouts And, we've saved the latest and greatest fact for last: as stunning as 0% interest rates sound, the mathematically-challenged-fantasyland called Europe has just one upped everyone by introducing NEGATIVE INTEREST RATES.
As of writing, over 25% of all bonds issued by European governments has a guaranteed negative return for investors.
Germany can borrow money for 5 years at an interest rate of NEGATIVE 0.10%. Yes, instead of Germany paying you interest when you lend them money, you have to pay them interest.
These same negative interest rate conditions exist across many of the Eurozone countries, as well as Denmark, Sweden and Switzerland.
Since the majority of the investment industry unequivocally supports world central banks, it has convinced itself that negative interest rates are actually good for the worldís economy and it will help the world along its sunny path to economic freedom.
Call us dumbstruck, dumbfounded or just plain dumb. But, our every analysis of these policy moves always brings us to the same conclusion and there ís a pretty big adjustment in financial markets on the horizon.
6 years ago, we were told that bailing out the banks and auto companies would save the world.
As this worked so well, we were next told that the world needed 0% interest rates. As this worked so well, we were next told we needed money printing.
As this worked so well, we were next told that Ireland, Portugal, Spain, Italy, and Greece needed a bailout.
As this worked so well, next the IMF issued a report recommending a Global Wealth Tax of 10% be applied to help governments resolve their debt problems.
As this worked so well, next the IMF, the EU, and the ECB all declared that if your bank goes under ñ people with term deposits and GICs will pay for the bailout.
As this has worked so well, now every major central bank in the world agrees that negative interest rates will finally be the policy measure to finally tip the world back onside.
This will work so well, that the world should prepare for even more draconian measures to kick start the recovery. The global hunt for taxes has become very popular, as has the movement to physically remove all cold cash
As this worked so well, we were next told that the world needed 0% interest rates. As this worked so well, we were next told we needed money printing.
As this worked so well, we were next told that Ireland, Portugal, Spain, Italy, and Greece needed a bailout.
As this worked so well, next the IMF issued a report recommending a Global Wealth Tax of 10% be applied to help governments resolve their debt problems.
As this worked so well, next the IMF, the EU, and the ECB all declared that if your bank goes under ñ people with term deposits and GICs will pay for the bailout.
As this has worked so well, now every major central bank in the world agrees that negative interest rates will finally be the policy measure to finally tip the world back onside.
This will work so well, that the world should prepare for even more draconian measures to kick start the recovery. The global hunt for taxes has become very popular, as has the movement to physically remove all cold cash
Yes, as recommended by Larry Summers, the world is moving ever so closer to completely adopting electronic money as the only way to do business. Many say this is good, after all many of us are practically there already. However, this movement towards electronic money is another attempt to eliminate black markets and allow governments to collect more taxes to fund the deficits.
But perhaps, the biggest financial crime not talked about is the damage to the worldís savers. While most do not realize it, but our central banks and governments have clearly decided to absolutely crush savers and in favour of borrowers.
The combination of all of the above failed policies has in effect punished savers, and rewarded borrowers. We now live in a world the elderly can no longer collect 5-6% interest on their savings accounts.
Instead, and unknowingly to most of them, they have become fully invested in the junk bond market and the stock market. Thatís quite the switch in investment strategy.
But perhaps, the biggest financial crime not talked about is the damage to the worldís savers. While most do not realize it, but our central banks and governments have clearly decided to absolutely crush savers and in favour of borrowers.
The combination of all of the above failed policies has in effect punished savers, and rewarded borrowers. We now live in a world the elderly can no longer collect 5-6% interest on their savings accounts.
Instead, and unknowingly to most of them, they have become fully invested in the junk bond market and the stock market. Thatís quite the switch in investment strategy.
The mantra for sometime now has been we need to be more like Europe and with 4 countries over there doing it it's appears to be a matter of time. So tell me about your barter plans and how your going to make that work, without the other person and a lot of other persons doing the same thing for it to work. I am glad I am an old guy I am not going to have to suffer this nonsense for to long as will some of you youngins.
This is bad, bad for America, and bad for our society. You will have no way to prepare yourself for a SHTF financially, going to your bug out location will only tell them where and when you got there. And more than anything during a bug out situation they can flip the monetary switch and you're going to have to stay put for the most part. So store your food, water, and fuel now it's going to get harder later. Besides this will eliminate the competition for the sale of drugs for the government.
