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As we’ve noted previously, the War on Cash is accelerating.
In recent months:
1) The SEC and other regulators have implemented legislation
allowing Money Market Funds to lock in your cash for up to 10 days during the
next financial crisis (meaning you cannot get your money out).
2) The FDIC has implemented legislation permitting it to
seize “systemically important” banks and convert their deposits into equity
(the dreaded “bail in” used in Cyprus in 2013).
3) JP Morgan and other large banks have begun rejecting large
deposits.
4) France has banned any transaction over €1,000 Euros from
using physical cash. Spain has already banned transactions over €2,500.
Uruguay has banned transactions over $5,000. And on and on.
There is a widespread global campaign to eradicate physical cash. And
we’ve now got a connected insider confirming it.
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.
The very first sentence:
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.
He continues…
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.
https://www.linkedin.com/pulse/cash-policy-to...almgren-tavares
The above description gets pretty technical, so let’s lay it out in clear,
simple language. This is the woman who helped promote and
institutionalize the securities that blew up the entire financial system in
2008.
Having left JP Morgan (after a lawsuit in which Masters was accused of
lying under oath), Masters is now driving a push to allow Governments to
monitor everything you do with your money in
real-time.
This is not conspiracy, this is fact. Masters is already meeting with top
financial executives to promote the idea. And Central Banks LOVE the idea.
That’s a bold statement, but Masters isn’t the only
voice heralding the coming of the blockchain. The Bank of England, in a
report earlier this year, calls it the “first attempt at an Internet of
finance,” while the Federal Reserve Bank of
St. Louis hails it as a “stroke of genius.” In a June white
paper, the World Economic Forum says, “The blockchain protocol threatens to
disintermediate almost every process in financial services.”
http://www.bloomberg.com/news/features/201...nges-everything
Anytime the Fed calls something “a stroke of genius” you can guarantee
it’s going to be a complete disaster for Main Street. Especially given who’s
involved in this mess.
This is just the start of a much larger strategy of declaring War on Cash.
Indeed, we've uncovered a secret document outlining how the Fed plans to
incinerate savings to force investors away from cash and into riskier assets.
We detail this paper and outline three investment strategies you
can implement
right now to protect your capital from the Fed's sinister plan in our
Special Report
Survive the Fed's War on Cash.
We are making 1,000 copies available for FREE the general public.
To pick up yours, swing by….
target="_blank" http://www.phoenixcapitalmarketing.com/cash.html
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