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16 June 2015 @ 05:32 pm
They’re Coming to Take Away Your Cash  
Zero Hedge: Submitted by Gold Standard Institute on 06/16/2015
by Keith Weiner
The stories are all over the Internet. Governments are forcing us into a cashless society. Supposedly the pretext is terrorism, and the real reason is to take more control. No doubt more power appeals to politicians, and banning cash seems like the next step after mandatory reporting of cash transactions. However, I think there is a more serious driver than simple power lust.
A more compelling case is that cash banning is the logical follow up to bail-ins. Most people think a bail-in is when banks steal your deposit. So it seems to make sense that governments want to force people to keep their cash in the bank. Then they are easy meat for the next bail-in.
However, a bail-in isn’t theft by your bank. There’s theft, alright, but the culprit is upstream. For example, in the case of Cyprus, the theft occurred in plain sight. The thief was Greece. That country sold instruments which it fraudulently called bonds, but it had neither means, nor the intent to repay. Those bonds are bogus paper. The Greek government stole the money, in the guise of borrowing it.
The Cypriot banks invested considerable deposits in Greek bonds. When depositors realized this, they began to withdraw their cash—a run on the banks. The banks were insolvent, so someone had to take losses. A bail-in shifts the losses from bondholders and other creditors to depositors.
It’s an example of how a corrupt monetary system causes corruption in banking. If government bonds are defined as the risk-free asset, then banks must hand depositors’ funds over to governments to spend. That can’t end well.
An honest bank will shut down operations before it burns through so much capital as to harm depositors. However, regulation obliges banks to buy government bonds (typically using short-term deposits). Thus the bail-in was devised to protect banks, though it violates law developed over centuries.
Neither control for its own sake, nor bail-ins, are the primary drivers of going cashless. Central banks don’t care about regulating the people, though they do support this new war on cash. Bail-ins are not a consideration in the US yet, though already American economists and bankers have expressed support for cash banning. So what’s really going on?
Citi’s Willem Buiter and Harvard economist Kenneth Rogoff are quite explicit. Central banks are grappling with the limit to their planning. As they push down the interest rate, more people withdraw their cash. This squeezes the banks, which make money by borrowing from depositors and lending at higher interest. Banks cannot pay a positive rate in order to earn a negative rate. If the interest rate on the government bond is negative, then the bank must set the interest on deposits at an even lower negative rate.
For some odd reason, depositors don’t like paying the bank to deposit their cash. It’s weird, I know. Instead, they withdraw their deposits. Withdrawals reduce bank funding, forcing banks to sell bonds. This pushes interest up, contrary to the plans of the central bank. It’s worth noting that bank runs and interest rate pressure are the reasons why President Roosevelt outlawed gold in 1933.
This simple preference not to lose money is dangerous to central banks. It threatens the monetary system to its foundations, because it’s an escape hatch allowing people to opt out of the central plan. If central banks don’t respond, then they accept a hard limit to their power over people. They’re stymied in their desire to set negative interest.
Thus they’re coming to take away your cash. However, they had better be careful. People will react to the central bank response, which forces another policy response, to which people will react, and so on. Central banks risk the destruction of their currencies.
http://www.zerohedge.com/news/2015-06-16/they%E2%80%99re-coming-take-away-your-cash
This article is from Keith Weiner’s weekly column, called The Gold Standard, at the Swiss National Bank and Swiss Franc Blog SNBCHF.com.
 
 
 
clothcapclothcap on June 16th, 2015 04:39 pm (UTC)
Karen Hudes Gold Out of Hiding
clothcapclothcap on June 16th, 2015 07:03 pm (UTC)
ZH: New Gold Electronic Payments System To Protect From “National Financial Or Currency Crisis”
Submitted by GoldCore on 06/16/2015 09:31 -0400
Gold Bullion Worth $1 Billion To Be “Repatriated” From NY Fed To New Texas Bullion Depository
- Texas creates state gold depository – bringing gold home from New York Fed
- Move to remove gold from Federal Reserve highlights distrust
- Follows repatriation moves by Germany, Netherlands, Austria and others
- Legislation will prevent Federal government from confiscating gold
- Includes provisions that may lead to return to using gold as currency in the U.S.
- New gold electronic payments system protect from “national financial or currency crisis”
- European, UK and Irish governments could learn from prudent monetary move
The state of Texas has just passed legislation to build its own gold bullion depository, to repatriate $1 billion dollars worth of gold currently stored by the Federal Reserve in New York and to create a new gold electronic payments system to protect from “national financial or currency crisis”.
The move is being widely perceived as a vote of no confidence in the privately owned, bank owned central bank and the federal government.
Governor Abbott said that establishing this Depository means Texas will be, “increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state.” (see Governor Abbott Signs Legislation To Establish State Bullion Depository )
The law will go into effect immediately and the new Texas Bullion Depository – soon to be built- will cater to businesses, state agencies and citizens.
Representative Giovanni Capriglione who introduced the bill was reported by the Star-Telegram as saying:
“People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold,” leading some commentators to puzzle over whether New York was not “big and powerful”.
Heretofore, it has been Venezuela and European countries that have been repatriating gold – Germany, the Netherlands and Austria have sought to bring their sovereign gold home from New York amid fears that the Fed – whose gold stocks have not been publicly audited since 1953 – may not be in possession of the gold it claims to hold.
It is highly significant therefore that a powerful state from within the U.S., such as Texas, should display such apparent distrust of the Federal Reserve.
More http://www.zerohedge.com/news/2015-06-16/gold-bullion-worth-1-billion-be-%E2%80%9Crepatriated%E2%80%9D-ny-fed-new-texas-bullion-depository


Edited at 2015-06-16 08:38 pm (UTC)
clothcapclothcap on June 16th, 2015 08:46 pm (UTC)
Et voila
How to stop the private BoE supporting other private banks using created currency that the taxpayer pays for?
Nationalise.
Have the BoE print sufficient currency to pay 49% of the debt, the rest is held by the 51% share the regime holds for the public, and buy out the other shareholders. Then write off the 51% debt.
Then it will be visible how much the banksters have been siphoning off to the smaller parasites.
clothcapclothcap on June 16th, 2015 09:30 pm (UTC)
Fast Track (S2E153)
In the Now June 16, 2015
The British media is left red-faced over lies about Snowden, ISIS’s treatment of woman exposed and UK Muslim students are banned from religious fasting in school.

http://rt.com/shows/in-the-now-summary/267616-snowden-isis-muslim-school/
(Anonymous) on June 16th, 2015 10:02 pm (UTC)
Policing and defending
https://alethonews.wordpress.com/2015/06/16/policing-and-defending-then-and-now/

Good article on the changing face of policing in the U.S. It finishes with

"There is actually no evidence that a more militarized police has thwarted terrorist attacks or led to any significant arrests, which rather suggests that the real motive for the increasingly assertive profile for law enforcement might just be to have the tools on hand to intimidate or even put down domestic dissent. If that is so, every American should be concerned about what might be coming down the road."

It strikes me that every Brit should also be concerned about what might be coming down the road. A government is supposed to pass laws to protect the people. When they start passing laws to protect themselves from the people one should wonder what it is they are doing that is so bad they feel they need such protection. Of course many of us know already what they are doing and when enough people realise what they have been doing no law or militarised police force will protect them from the people's wrath. Imo

A01A
(Anonymous) on June 16th, 2015 10:10 pm (UTC)
The end of cash
We should all have taken a stand when they stopped paying wages and salaries in cash, forcing us all to work through banks, whether we wanted to or not. And look where that got us. It hasn't stopped the money laundering which ordinary people have no need for but they do.

At the time people warned that the payment of wages indirectly to banks was a dangerous move for Joe Public ...but who listened. We should be demanding a return to wages and salaries paid in cash, not following blindly as they lead us into another corral where we can be further fleeced. But who listens?

A01A
clothcapclothcap on June 16th, 2015 10:25 pm (UTC)
Tweetz
Gabs
Atheist Republic
Billions of years ago God was creating universes and life. Today he occasionally appears on a piece of toast.
https://pbs.twimg.com/media/CHgBUQ4WEAABdyH.jpg
Bergg69
Canada G20 cost $1.1B Germany G7 cost ?
http://bit.ly/1IppdcT

nsnbc international
Details in Tamir Rice Shooting Explain Why Grand Juries Are Important http://nsnbc.me/2015/06/15/details-in-tamir-rice-shooting-explain-why-grand-juries-are-important/

Tactical Things
Building a Nuclear Case Against the Saudis | New Eastern Outlook http://journal-neo.org/2015/06/15/building-a-nuclear-case-against-the-saudis/
Jack of Kent
So Cameron today wants to celebrate Magna Carta, which you cannot enforce in court, whilst he repeals the Human Rights Act, which you can.
[RIP. As the US constitution goes the same way. An obstacle the TPP, ]

Net News Global
Syria
12 "hell canon" rockets fired by terrorist on AlKhaldieh neighborhood,from Bani Zayed- 5 civilians injured Aleppo

Hatuxka
Robin Monotti Arch
The US congress recognized the Azov battalion as neo Nazi. Meanwhile, the President of Ukraine...


Activist Post
Remember that the European Union started as a secret free trade deal?
Mikael Thalen
They just revealed, for the record, precisely why smart meters were brought in: CONTROL
Smart Meters Snitch on Water Wasters in California http://www.wired.com/2015/06/smart-water-meters-let-cities-spot-drought-defiers/
[It's a whole lot more than that. Control of water.]
Fukushima will likely go down in history as the biggest cover-up of the 21st Century http://www.counterpunch.org/2015/06/15/whats-really-going-on-at-fukushima/
[After 9-11 imo, Fuku was much more convincing but still blown. No earthquake.]

Press TV
Iraqi forces kill 39 ISIL terrorists in Salahuddin http://ptv.io/1tXB
20 dead, 100 wounded in rocket attacks on Aleppo http://ptv.io/1tXJ
US senators force Obama’s hands on Ukraine lethal aid http://ptv.io/1tZR

Occupy Wall Street
Paul Dechene
"Only way to remove the power of corps in our society is to create a social movement capable of winning elections." https://www.micahmwhite.com/crisis-in-activism-interview

RT
Private military firms in touch with Iraqi govt to fight ISIS – ex-SAS http://on.rt.com/b9zcbq
'ISIS is an enemy of Islam' - Chief Chechen mufti http://on.rt.com/6qoh4i
UN slammed for suspending whistleblower who exposed child abuse by peacekeepers http://on.rt.com/xhjntv
‘Fight fire with fire’: Recruit video game developers to tackle radicalization, says peer http://rt.com/uk/267307-computer-gamers-tackle-isis/
'40 ICBMs to penetrate any defence': Putin's 2015 nuclear force boost statement in full https://soundcloud.com/rttv/putin-army
RT UK
Natural History Museum scientists turn moths 'gay' to stop their reproduction http://on.rt.com/esf9vg

Al Fatah original
Vladimir Putin, while in Italy, connects Europe’s refugee crisis with NATO intervention in Libya…calls G7 a… http://ln.is/libyaagainstsuperpowermedia.org/KgkHo
OBAMA GIVES ISIS 2,300 ARMORED HUMVEE’S AT A STAGGERING COST OF $579 MILLION http://libyaagainstsuperpowermedia.org/2015/06/15/obama-gives-isis-2300-armored-humvees-at-a-staggering-cost-of-579-million
Writing's On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It "Non-Confiscatable" http://ln.is/www.zerohedge.com/ne/0FeeW
Revealed: The true scale of Tony Blair's global business empire http://ln.is/www.telegraph.co.uk/5Dd04

Activist Post
zerohedge
In Dramatic Decision Judge Finds Fed Bailout Of AIG Was "Illegal", Government "Violated Federal Reserve Act" http://www.zerohedge.com/news/2015-06-15/dramatic-decision-judge-finds-fed-bailout-aig-was-illegal-government-violated-federa
45 times Clinton pushed the trade bill she now opposes http://www.cnn.com/2015/06/15/politics/45-times-secretary-clinton-pushed-the-trade-bill-she-now-opposes/index.html
Times Reporter Admits That He's Just Writing What UK Gov't Told Him to Write https://www.techdirt.com/articles/20150615/11565531344/reporter-who-wrote-sunday-times-snowden-propaganda-admits-that-hes-just-writing-what-uk-govt-told-him.shtml

clothcapclothcap on June 16th, 2015 10:31 pm (UTC)
Tweetz
Diana Bauer
Charles Edward Frith
The CIA and its friends are in bed with the Islamic extremists. http://j.mp/1Bi2Fe5
[aangirfan]
Hatuxka
@falluja05: Odessa citizens revolted against Saakashvili. June 14, 2015 https://youtu.be/tSg6ZzAqJNY
Cold War Relics: Attempts to Make Russia and Ukraine Bitter Enemies Doomed http://en.voicesevas.ru/news/analytics/5858-cold-war-relics-attempts-to-make-russia-and-ukraine-bitter-enemies-doomed.html
@postsovet: Britain and France wanted to divide Libya behind U.S.'s back. http://www.postsovet.ru/blog/russia/570090.html
Israel Plans To Steal More Syrian Land http://www.moonofalabama.org/2015/06/israel-plans-to-steal-more-syrian-land.html
The Illegality of NATO http://dissidentvoice.org/2015/06/the-illegality-of-nato/
Big Pharma will make even more of a killing if the TPP passes. Hillary says some of that profit should be charitably given back as discounts
June 14, 2015. US Bombs Libya Information Clearing House - ICH http://www.informationclearinghouse.info/article42137.htm
Hillary Clinton's Secret Weapon Is The Wife Of Multi-Billionaire Planetary Overloard Sir Evelyn de Rothschild http://news360.com/article/297443410

Jamila Hanan
WFP Students
What you need to know abt Yemen, where WFP has provided food to 1.7 mil since conflict began http://www.wfp.org/emergencies/yemen
Hisham Al-Omeisy
What will it take for world to act after stmnt by High Commissioner for Human Rights! Yemen http://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=16074&LangID=E
https://pbs.twimg.com/media/CHkBFPZUEAAlMcH.jpg

21st Century Wire
Kyle
Debate Illuminate Claims Made by Fluoride Proponents http://articles.mercola.com/sites/articles/archive/2015/06/16/more-evidence-against-fluoride.aspx

Libya
Libya Al Hurra
Leon's Last Shot offers Power to a Few in Exchange for Agreement on Libya http://www.timesofmalta.com/articles/view/20150616/opinion/Libya-Leon-s-last-shot.572720

green heart
Key rebel leader killed in Southern Damascus: http://www.almasdarnews.com/article/key-rebel-leader-killed-in-southern-damascus/
[Abu Ridha Al-Turkmani]
ISIS Suffers Monumental_Defeat at Tal_Abyad: http://www.almasdarnews.com/article/isis-suffers-monumental-defeat-at-tal-abyad/
Syria
Syrian Army repels terrorist offensive on Qal'ah AlRahieh checkpoint,killing&injuring scores of terrorists.Hama's CS
New World Order
[infowars] Jade Helm: The Road to Eugenics http://dlvr.it/BDVHVv
Max Abrahms
I have a little comment in Newsweek today about Britain's contribution to the anti-ISIS coalition: http://europe.newsweek.com/britains-110m-fight-isis-ineffective-token-effort-328794.
'Worst crisis of our era': 50 mn refugees, 'govts pursue selfish interests' http://on.rt.com/ab7py9
RT America
US may send F-22 fighter jets to Europe to counter 'Russian threat’ http://on.rt.com/nuwmnk
LOrion
Al-Qaida confirms leader of powerful Yemen affiliate killed in US drone strike - @AP, @AFP via @breaking http://www.breakingnews.com/item/2015/06/16/al-qaida-confirms-leader-of-powerful-yemen-affilia

MRZine
VanguardPartyGirl
That's the political impetus behind idea of "transracial". That race and gender are interchangeable since theyre both social constructs.
But of course that's foolish, tantamount to saying that language and clothing are interchangeable since theyre both social constructs.
The nature of a social construct in progressive politics makes it compatible with any number of identity dynamics and contradictions abound
The Guardian
Eurozone braces for Greek exit as Athens threatens to miss IMF payment http://trib.al/BCskpvl

The Final Call News
'The Time Has Arrived That The Tyranny Must End' by @LouisFarrakhan http://www.finalcall.com/artman/publish/Minister_Louis_Farrakhan_9/article_102426.shtml
[He's gained quite a following.]
Probable cause found to charge cops with murder, negligent homicide of TamirRice http://www.finalcall.com/artman/publish/National_News_2/article_102429.shtml

Karol en Red
Syrian Perspective
From Walid Joumlatt's interview by LBC last week. Joumlatt, you piece of sh*t!... http://fb.me/4rzXZMpaJ

Nenad Jovanovic
@zerohedge
The last time the Fed hiked rates from 0%, the market crashed 50% http://www.zerohedge.com/news/2015-06-15/bank-america-begins-66-day-countdown-until-terrible-ghost-1937-returns
clothcapclothcap on June 16th, 2015 10:37 pm (UTC)
clothcapclothcap on June 16th, 2015 10:42 pm (UTC)
Would a nuclear war stop the currency illusion going poof?
Cameron is attempting to conduct the orchestra aboard the Titanic with one foot in a lifeboat.

Could we spoof a nuke war then weld the bunker doors?

Edited at 2015-06-16 11:21 pm (UTC)
clothcapclothcap on June 16th, 2015 11:26 pm (UTC)
The Magna Carta at 800 Years: Is it Still Alive?
[A response to me RIP ing it? :)]
Written by RPI Staff June 15, 2015
Born 800 years ago today, the magna carta was in essence the result of a rebellion against the unchecked power of the executive to take a country to war and then stick the citizens with the bill. What can we learn from that rebellion and how can we put it to use to preserve and defend our own liberty against a modern unchecked executive power? Today's Ron Paul Liberty Report takes a look:

http://www.ronpaulinstitute.org/archives/featured-articles/2015/june/15/the-magna-carta-at-800-years-is-it-still-alive/
clothcapclothcap on June 17th, 2015 07:45 am (UTC)
Secret Cabal; Rothschild, Churchill, Burgess
Aangirfan 26 May 2015
[...] Costello has written that, in the days before World War II, the homosexual royals included Edward the Prince of Wales, his brother George Duke of Kent, the Queen's brother David Bowes-Lyon, and Lord Louis Mountbatten.
Apparently, these royals, and their friend Anthony Blunt, liked certain London pubs, such as the Packenham, where young lads could be had for sex.
(Mask of Treachery, by John Costello, Collins, page 466...)
Blunt and his friends gave away secrets to the Russian spy chief Beria (above) a notorious pedophile.
There is a suspicion that the members of the cabal which ran Britain were friends of both the Nazis who ran Germany and the Zionists who ran Russia.
The British spy Guy Burgess was both a close friend of Victor Rothschild and a member of the pro-Hitler right-wing of the UK Conservative Party.
[...] "There is an international cult that believes that the path to illumination and spiritual liberation is through the rape, torture and sacrifice of children.
"The cult is highly organised and protected by a network of middle- and upper-class professionals, who are either cult members, or access the 'services' of the cult (eg child porn/prostitution, rendering them vulnerable to blackmail).
"The cult is modelled on Crowley's writings, as is evidenced by the internal pseudo-Masonic 'degree' structure, the existence of OTO-like 'chapters', and the doctrine of 'strength', 'master/slave' and ritualised rape."
Full http://aanirfan.blogspot.co.uk/2015/05/secret-cabal-rothschild-churchill.html
Recommended
clothcapclothcap on June 17th, 2015 08:06 am (UTC)
Washington spends 17 times more fighting Isis than Britain
By Jack Moore 6/16/15
While the US announced last week that it has spent €2.4bn on the campaign against Isis, new figures have revealed that Britain has committed a paltry €110m to stopping the radical extremists' expansion across the Middle East.
[...] In a breakdown of Washington's leading role in the anti-Isis coalition, the Pentagon revealed last Thursday that, of the €2.4bn ($2.7bn) spent since last August, €1.6bn ($1.8bn) was committed to the US Air Force, with €4.4m ($5m) spent on flights and reconnaissance missions every day.
Also €573m ($646m) was spent on munitions; €388m ($438m) on the Navy; €243m ($274m) on the Army; €177m ($200m) on special forces operations; €18.6m ($21m) on intelligence and surveillance ops; and €14m ($16m) on military pay. Britain's MoD declines to provide such a breakdown of operational costs.
http://europe.newsweek.com/britains-110m-fight-isis-ineffective-token-effort-328794
Why is the UK spending taxes for a war of aggression against a Western created and sustained terrorist outfit of mostly foreign to Syria and Iraq mercenaries?
clothcapclothcap on June 17th, 2015 08:17 am (UTC)
Italy threatens to issue visas allowing migrants to travel Europe
By Eilish O'Gara 6/16/15
Italy has threatened to issue large numbers of illegal migrants arriving by boat with temporary visas that allow them to travel anywhere in the EU's free movement zone, unless an agreement is reached to distribute the arrivals from Africa and the Middle East more equitably around Europe.
Talks are underway in Luxembourg today to discuss new proposals from the European Commission to redistribute the soaring numbers of asylum seekers arriving in Southern Europe across 25 EU countries. Out of the 28 EU members, Britain, Ireland and Denmark have rejected the plans.
Full http://europe.newsweek.com/italy-threatens-issue-visas-allowing-migrants-travel-europe-328815
Bilderberg made the decision to destroy Libya, very likely Syria too. The UK, France and Italy, the US and other NATO countries, Qatar and Saudi all took part, in the Libyan case, with the tacit permission of the silent majority. This is the main cause of the refugee crisis. Europe, particularly participating countries, and the US have an obligation to sort out the refugee crisis that does not involve more extermination.
clothcapclothcap on June 17th, 2015 09:01 am (UTC)
Conspiracy Theorists Vindicated: HAARP Confirmed Weather-manipulation Tool
Catherine J. Frompovich Activist Post
The most damning aspersion that can be lobbed against any person, or the exposure of “secret government activity,” overwhelmingly is “Conspiracy Theorist.” That pejorative ‘handle’ is equated with imbecile mind-activity with aspersions often suggested as ‘tin hat wearers’. Well, step aside all you doubters and listen up carefully to what took place in the halls of Congress on May 14, 2014 regarding the weather modification system known as HAARP.
In the YouTube below Senator Lisa Murkowski (R-Alaska) asks some pointed questions about HAARP. However, readers may not be surprised at the answers, but the mainstream media ought to be wiping oodles of egg yolk from its collective face.
More http://www.activistpost.com/2014/05/conspiracy-theorists-vindicated-haarp.html
Californians should be suing the US regime for permitting drought enhancing geo-engineering by HAARP and chem trails. The UK regime should be sued at the very least for permitting pollution of the air we breathe.