Throughout history, there have been some men and women who have superseded political parties and functioned in the role as an adviser to multiple administrations. And one in particular is now laying out the case as to why the U.S. and Europe are formulating plans to try to eliminate cash, and bring about a fully controlled digital system.
Whether it is gold or the current forms of fiat currency, the right to hold physical money and legal tender is a very important component of having freedom and liberty in a society. For it is only by physical ownership that one can determine how one’s own wealth is spent and saved, and to give up that power is to give permission to others to determine for you how that money is used.
The whole purpose behind the theoretical and practical elimination of money is to give private corporations, aka… central banks, the power to force or curtail spending, to coerce everyone into having a privately held bank account, and to use monetary policies that protect the rich by determining who and where your money can be spent contrary to your desires.
Dr. Harald Malmgren is about as connected as you can get into the Washington DC political elite. He served as a Senior Aide to FOUR separate Presidents as well the Senate Committee on Finance.
This is someone who KNOWS what global elites are thinking about the financial system and US economy.
Dr. Malmgren recently gave an interview to Sinclair and Co that is absolutely shocking.
Banks in the US and Europe are trying to develop a cashless transactions system… The concept is to establish a comprehensive ledger for a business or a person that records everything received and spent, and all of the assets held – mortgages, investment portfolios, debts, contractual financial obligations, and anything else of market value including pleasure boats, automobiles, and other machinery.
Governments would very much like such ledgers to exist because they could view everything that is taking place financially in real time, including ability to evaluate net worth, patterns of spending and of earned and unearned income, and of course, an instant assessment of all taxable activities.
We’ve been warning of this for months. However, Dr. Malmgren is the one to “connect the dots” of the key players in this global plan to erase physical cash and financial privacy.
This is not a dreamy idea. Blythe Masters, the JP Morgan architect of organized market trading of modern asset backed securities like mortgage backed securities and collateralized debt obligations…is leading a new business effort to develop a universal cashless system. Not only is she gathering significant investor interest, but the Federal Reserve and various US Government agencies have become keenly interested in the potential usefulness and efficiencies of a universal cashless system. – Phoenix Capital Research via Zerohedge
Government’s like to decry the use of cash as an enemy of the state for their ideological ‘wars’ over drugs and terror. But the fact of the matter is, the majority of people in a given country never take part in either of these, and a global policy of banning cash means there are much greater underlying reasons for taking away this liberty.
For example, forcing everyone to have to buy Obamacare to prop up the dying healthcare insurers even though costs are now too great for a large segment of the population.
It also means that the by keeping cash in digital form in banks only, the Federal Reserve can tax, confiscate, or funnel your money where they see fit as a result of a body of 12 men and women deciding if you should spend to prop up the economy, or save it to counteract inflation.
Since the beginning of the central bank era 400 years ago, the end goal has always been to not only control the printing of money, but to also control it under a singular system. And with technology now at the point that money can be run entirely in digital forms, the only thing left is for another great crisis to be concocted where by guile or coercion, the people will voluntarily or by force lose their right to spend and save their own money as they see fit.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.