Most people assume a “cashless society” implies simply alternative forms of monetary instruments.
It’s more than that. Much More!
The public is running out of cash. So to keep the false prosperity going a bit longer, “spending what you don’t have, vis-a vis plastic, is being encouraged.
No, let me rephrase that…..it’s being demanded!
Remember Popeye’s friend, Wimpy?
“I will gladly pay you Tuesday, for a hamburger today.”
My childhood TV memory.
Of course that phrase was only used back in the early 50’s because plastic wasn’t prevalent then. In fact, “Layaways” were the only option.
The sign below states “Cash Not Accepted”.
Make no mistake, cash IS accepted…..but who has any left?
CIGA Wolfgang Rech
Sweden Inches Closer To Cashless Society As Churches And Homeless Now Accept Plastic
May 18, 2017
The citizens of Sweden are perhaps closer to completely giving up a component of their individual sovereignty than any other country on earth. In a world where government’s abuse of power and intrusion into the personal lives of its blissfully ignorant enablers grows more disturbing by the day, at least for now, cash offers the one opportunity to transact in a truly anonymous way.
That said, Swedes are ditching their physical currency at a breakneck pace with notes and coins in circulation dropping consistently for the past 6 years and down over 15% in 2016 alone.
According to the following chart from Bloomberg, notes and coins in public circulation dropped to an average of 56.8 billion kronor, just $6.4 billion, in the first quarter of this year, the lowest level since 1990 and more than 40% below its 2007 peak with the pace of the decline accelerating to its fastest ever in 2016.
I don’t pretend to know everything going on in the world, but certainly many headlines are flashing alerts:
-Potential breakup of the EU
-Rioting in Greece,
-Banking crisis in Italy,
-Political turmoil in France,
-Anti Islamic movement in Germany,
-Debt problems with Sweden’s high tax socialism,
-Switzerland about to be on the hook for ALL of Apple stock (thought I’d jsut throw that in there).
-We have Venezuela oil production collapse throwing the country into the abyss,
-Brazil bloodbath in currencies, bonds, and futures,
-Anti government protests in Paraguay,
-Ecuador’s opposition presidential candidate attacked,
-Argentina’s continual currency devaluation and inflationary spiral
-Major “shadow” banking crisis in recent days,
-Chinese insurers warn of mass defaults and social unrest unless new products can be issued.
-Political upheaval in overthrowing Trump,
-Massive political polarization throughout the country,
-Illegal immigration onslaught,
-Rampant corruption and malfeasance throughout the financial and industrial industries
Now throw all wars and potential conflicts into the mix…….
Etc, Etc. Etc,
And the worldwide hacking of ALL computer systems into the mix…….
….where is all the money going to flow for a safety?
Not just the 1 percenters, but all social classes?
CIGA Wolfgang Rech
This little tidbit of news has been out for the past weeks but flying below the radar.
A nice start.
“Will this new contract help moderate the blatant price manipulation in the gold market by the western banking cartel? Maybe not on a stand-alone basis. But several developments occurring in the eastern hemisphere and among the emerging bloc of eastern super-powers – as discussed in today’s episode of the Shadow of Truth – will begin to close the window on the ability of the west’s efforts to prevent the price of gold from transmitting the truth about the decline of the U.S. dollar’s reserve status and the rising geopolitical instability:”
Can you say “Arbitrage”?
CIGA Wolfgang Rech
Is China Intentionally Making It Harder To Manipulate Gold?
May 22, 2017
A new gold futures contract is being introduced by the Hong Kong Futures Exchange (two contracts actually). The two contracts will be physically settled $US and CNH (offshore renminbi) gold futures contracts. The key to this contract is that it requires physical settlement of the underlying gold, which is a 1 kilo gold bar.
The difference between this contract and the Comex gold futures contract is that the Comex contract allows cash (dollar aka fiat currency) settlement. The Comex does not require physical settlement. In fact, there are provisions in the Comex contract that enables the short-side of the trade to settle in cash or GLD shares even if the long-side demands physical gold as settlement.
With the new HKEX contract, any entity that is long or short a contract on the day before the last trading day has to unwind their position if they have not demonstrated physical settlement capability.