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Cash is for Criminals – Taxing Cash Withdrawals from ATMs

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Posted by Martin Armstrong - Armstrong Economics

on Tuesday, 29 November 2016 06:54

war-on-cashWe are entering a very dark phase in this battle to retain our liberty. A proposal now being whispered behind the curtain in Europe is to impose a tax on withdrawing your own money from an ATM. The banks support this measure as a whole because they see this as preventing bank runs.

Nobody will look at the direction we are headed. I am deeply concerned that these type of proposals will send the West in a real revolution not much different from that of Russia in 1917. The divide between left and right is getting much deeper and the left is hell bent on stripping those who produce of their liberty and assets. This type of confrontation is in line with our War Cycle, which we will update in 2017.

This is the most dangerous period we are heading into for governments will respond only in their own self-interest to survive. The socialists hate those who produce. That is just the bottom line. Nobody should have wealth more than they and this is the same human emotion that has cost tens of millions of lives in civil conflicts through out the centuries. Proof this is a persistyent problem is the fact taht even the Ten Commandments state clearly that socialism is wrong: “You shall not covet your neighbor’s house … or anything that belongs to your neighbor” (Exodus 20:17).  Nevertheless, this is repuidiated by socialists who say it’s not fair that anyone has something more than they do. This material jealousy has been the source of so much death throughout the centuries because it has been exploited by the ruling class to justify their theivery.

We will review all our models and update this after the U.S. inauguration since the socialists are trying to figure out how to steal the election from Trump. There is no way to overturn Michigan, Wisconsin, and Pennsylvania without fraud and they need all three overturned to claim victory. This will not end nicely. The divide will only get bigger. The future is anything but stable and safe.

The war on cash is in full swing. The whispers behind the curtain are starting to get louder. The headlines in Australia demonstrate how the press is already conspiring against the people. The new slogan rising is Cash is for Criminals. ABC of Australia ran the story:

 

.....also: 


Personal Finance

This Is Where I Get Off

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Posted by Jeff Thomas via Sprott Money

on Friday, 25 November 2016 08:21

maxresdefaultWe began writing on the War on Cash some time ago, when it was still just a theoretical ploy that we believed banks and governments were likely to employ as their economic adventurism continued to unravel. 

But, in the last year, several countries have, as a part of the War on Cash, begun removing larger bank notes from circulation in order to force people to perform all economic transactions through the banking system, assuring that the banks would gain total control over the movement of money. 

Of course, the banks could not admit their true goal to the public. They instead used the governments to claim that the measure was being undertaken to restrict crime (money laundering, drug deals, black marketing, terrorism, etc.) 

Recently, without any fanfare, ATM’s in Mexico have ceased issuing the 500 peso note US$24). The largest note is now the 200 peso note (US$10). 

At about the same time, Citibank in Australia declared that it will no longer accept coins or banknotes. 

India has joined those countries that have done away with larger notes. They did so quite suddenly and the effects are already being felt by the Indian people. The elimination of the 500 rupee and 1000 rupee notes has, of course, not limited the level of spending in India, but it has caused a sudden demand for considerably more smaller notes through which to accomplish the same transactions. 

A problem with the removal surfaced immediately when people using ATM’s were withdrawing far more notes than ever before in order to have enough cash to function normally. The ATM’s were quickly being emptied of the smaller denominations. The people of India cried foul, as 86% of all money in circulation had vanished from the system overnight. The limit for withdrawal per day is 2500 rupees (US$37) – which for some is sufficient to pay for daily expenses, but is most certainly not sufficient to carry on a business or facilitate larger transactions. 



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Personal Finance

Miners: The Paper Precious Metals Investment

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Posted by Jeff Nielson via Sprott Money

on Wednesday, 23 November 2016 10:24

9e3fb23277cd1c5ef639ac4c279c3408Regular readers will disregard the current downward trend in precious metals prices. They were already warned, repeatedly, that the supposed “rally” in the precious metals sector this year was a Fake Rally. It was a set-up to position these markets for a crash, timed to coincide (more or less) with a manufactured crash of our bubble markets and already-crippled economies.

 

Precious Metals

However, it was a crash in precious metals markets (the Crash of ’08) which set the stage for the last, real rally in this sector (2009 -11). For various reasons, it will likely be a crash which sets the stage for the Next Rally. Here it is important to note that while the banking crime syndicate can manipulate the price of gold or silver they cannot affect the value of these metals. The longer the banksters pervert the prices of precious metals, the more violent the upward move in gold and silver prices when those prices finally reflect that value.

Gold and silver have value because these metals have universal aesthetic appeal. Because of that quality, and because these metals occur at ideal levels of scarcity/abundance, gold and silver have always been and will always be the best money available to our species.

Gold and silver are eternal stores of value and thus eternal protectors of wealth. These metals are also presently undervalued, to an absurd degree , because of the criminal manipulation of these markets, which has been frequently documented in previous commentaries. The Big Banks and bankers have also confessed to this manipulation.

As Chairman of the Federal Reserve, Alan Greenspan confessed (in official testimony) that Western central banks “stand ready” to manipulate the price of gold, any time the price begins to rise. The Big Banks have already confessed to rigging both the gold fix and the silver fix, but that hasn’t stopped them from continuing to “fix” the fixes. Numerous other forms of price manipulation remain unexposed.

Such sustained, systemic price manipulation has, in turn, produced large supply deficits in both the gold and silver markets. In the case of silver, evidence has emerged suggesting that this market has had a sustained supply deficit for 30 years. It is these supply deficits which ensure there must be an upward revaluation in the price of these metals – to restore equilibrium to these markets. The longer this disequilibrium is maintained, the longer and stronger will be the upward revaluation in price.

For all of these reasons; many investors in gold and silver bullion have a difficult time identifying any other asset class which offers similar security and upside potential, in a time of grave economic uncertainty. We hold bullion as our insurance against currency debasement, economic calamities, and political strife. However, what do investors do with the remainder of their investment portfolio?

What about investors who also want a growth component for their portfolios while still keeping all of their wealth in the precious metals sector? [remove bold face when publishing] The solution to this conundrum can be identified in one, simple phrase: diversify within the sector.

....continue reading HERE



Personal Finance

You Don’t Have to Be a Victim

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Posted by Porter Stansberry via Bill Bonner - Diary of a Rogue Economist

on Tuesday, 22 November 2016 08:32

Don’t ignore this warning. I’m going to show you exactly how to make a lot of money in the options market. 

But what I’m trying to teach you below could rescue you financially over the next 12 to 36 months.

Investors who don’t know the facts, the history, the financial concepts, and the trading strategy I outline in today’s Digest have absolutely no chance of surviving the next few years without taking huge losses.

Even if you’ve never printed a Digest before, I’m going to urge you to print today’s. Pin it up on the wall next to where you monitor your portfolio or do your trading. Make sure your adviser or your spouse gets a copy, too. At the end of each quarter over the next few years, read this letter again. And ask yourself what you’re prepared to do now about these ideas.

Please. Don’t. Ignore. This. Warning.

You have to understand this… You can take the information I’ll give you below (for free) and make something between 10 and 20 times your money in the next year or two. Investors who don’t follow this strategy – or one like it – are going to suffer big losses.

That’s why this is so important. It’s not just an opportunity to make huge gains. It’s a chance to blow past the results that anyone who’s only invested on the long side could possibly achieve. 

But let’s start with the bad news…

Our Big Trade strategy – to buy out-of-the-money, long-dated put options – is normally the hardest way to make money in the securities markets. The only reason to consider doing any of the things I will outline below is because you already have a successful investment strategy. You already have a good diversified portfolio. You are already meeting your investment goals.

And because, like me, you’re convinced that Obama’s legacy – the stunning amount of bad debt that has been underwritten over the past seven years – is going to cause certain industries and businesses big problems. Life-threatening problems.

I firmly believe that’s true. It’s only because of the truly historic size of the debt bubble Obama built that I would even consider this strategy.

 

  • Our Big Trade strategy is the absolute best way to hedge your financial assets from credit risk.

  • This isn’t just speculation. It’s also the best strategy to avoid big losses from what’s about to happen.

  • The debt-default cycle has already begun, and big losses for most investors are now inevitable.

 

Bad debt is only half the story…

The real key to understanding this opportunity is to realize the profound dichotomy between how much financial risk U.S. corporations currently have on their balance sheets (the most ever) and how little risk is being priced into the equity market today (among the least ever).

It’s this shocking "spread" between the real and obvious financial risks we face and the nearly record-low volatility in the stock market that the Big Trade is set up to exploit.

20161116-dre-03

Let me show you how this all works in practice…



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Personal Finance

Eliminating Cash – The NEW AGE of Economics

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Posted by Martin Armstrong - Armstrong Economics

on Wednesday, 16 November 2016 12:32

Tax-RobberyQUESTION:

What is your view on the Indian government banning large denomination bills and why such a small window of time to get them turned in?
PB

ANSWER: Unfortunately, the theory is that cash prevents governments from maintaining negative interest rates. They want to “tax” the mere possession of money. Eliminate cash, and then they think they can stimulate the economy without creating inflation and they will be in total control. They view that the reason Marxist/Keynesian philosophy failed is because of cash. People can hoard money and thus exit the system. They cannot stop that unless they eliminate money.

This is what the NEW AGE of economics is all about. They next level of taxing you for merely having money. Indian Prime Minister Narendra Modi has announced that the 500 ($7.60) and 1,000 rupee banknotes will be withdrawn from the financial system overnight. This is all about taxes.

Everyone should pay attention here. Governments can simply cancel a currency overnight. The ECB wants to eliminate the 500 euro note and Larry Summers is arguing to end the $100 bill in the USA. These people want to tax everything and see that interest rates can be negative forever if they get rid of cash. They are totally insane.

....related: 

War on Cash intensifies: Citibank to stop accepting cash at some branches

by Simon Black

Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia.

Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.”

...continue reading HERE



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