The predicted campaign to deprive citizens of anonymous cash, forcing them into dependence upon traceable and controllable electronic transactions has heated up faster than expected by most of us. The war on cash first attack: It has just been voted in the European Union to eliminate the 500 Euro note, some 30% by value of E.U. circulating currency. Evidently the desire to control everyone’s business has acquired urgency. Further evidence has appeared in the U.S. where a prominent Wall Street and government Godfather trumpeted: “Its time to kill the $100 bill..”
If we have understood correctly, that $100 bill represents some 78% of U.S. hard cash outstanding. Its elimination will make much use of cash for anything but penny-ante transactions, rather impractical. Cash will be eliminated in one stroke, for all practical purposes.And ever after, no one will buy or pay for anything that cannot be traced and supervised, a condition suggesting ultimate government price setting. Of course, who may displease government will be unable to buy or sell at all. One may see why our governors are so eager to hurry up such a condition.
Add to those, no more possibility of a black market to get around government folly plus absolute certainty of collecting 100% of taxes. Governors gotta love it. Evidently, from the haste and from the relatively silent media at the moment, it is intended to impose the regimen before many folk are stirred up into opposition. That’s our reading, anyway. Andit could work, right?
We hope a lot of folk hear in time to make a ruckus in Congress; the procedure will be the final death of what is left of the free market. Its demise will tie down and tuck in the general poverty of most of us, a restoration of most of history from the unusual conditions in Europe and North america for the last couple hundred years. Of course, that’s already happening; the death of cash will just hasten what is going on. Quite a lot, too.
You don’t of course, have to see it as we see it. Bear in mind though that you will live with the end result, whatever it turns out to be.In any case, we have kept you informed.