Posted originally on Jan 29, 2024 By Martin Armstrong |
Businesses are increasingly preventing customers from using cash as NO CASH ACCEPTED signs line Main Street. No federal law requires businesses to accept cash, but some states and cities have implemented laws mandating businesses to do so. COVID accelerated the push toward a cashless society, as physical cash was seen as unhygienic. Then the US mint faced a physical currency shortage as Americans hoarded their cash. Cashless businesses are now widely accepted and normalized in our society.
Around 6 million Americans who do not have a bank account, and therefore are blocked from participating in our cashless society. This particularly impacts the poorest in our nation, as a recent survey found that 40% of unbanked individuals do not have enough liquidity to meet the minimum balance required by banks. The FDIC found that one-third of respondents simply do not trust the banks and prefer cash for privacy purposes.
Then there are those who use prepaid cards or tools like CashApp that fall in “underbanked” bracket. The latest estimate found that 19 million households fall under this category. Combined, one in five Americans are either unbanked or underbanked, and according to the government, these individuals are merely attempting to avoid taxation.
Another lesser known fact is that banks often charge stores for physical currency. Additionally, the costs of providing and handling physical currency, such as the need for security, transportation, and storage make it more costly for businesses to use cash. The crime wave across blue cities is a contributing factor as well, as it is not uncommon to see signs stating that a business does not have cash on hand to deter thieves.
There is no federal law that requires banks to charge for change, but federal law generally allows banks to charge non-interest charges and fees. Interchange fees are transaction fees that the merchant’s bank must pay whenever a customer uses a credit/debit card to make a purchase, which is why you will often see a surcharge of around 3% at certain businesses to cover this expense. So businesses are faced with fees for all transactions whether they go the cash or card route.
The 2010 Dodd-Frank ruling permitted businesses to set a credit card minimum of $10, as the interchange fees nulled the profits on small purchases. Debit cards are treated as cash, whereby there is no set minimum by law.
They will soon force the unbanked and underbanked into the banking system, which is one of the reasons why the Biden Administration continually talks about erasing junk fees so that the 40% who claim they cannot meet the minimum balance are not excluded from government oversight. The push for a cashless society is a global phenomenon tied to the DPI and other initiatives that aim to centralize our individual data.
The leftist media cutaway Donald Trump’s victory speech after his Iowa victory. Some, such as Rachel Maddow who has no credibility, said it would be dangerous to air a live statement from the former president due to January 6. The truth of the matter is that they wanted to censor what he had to say, especially regarding the push for CBDC.
“Tonight, I’m also making another promise to protect Americans from government tyranny. As your president, I will never allow the creation of a central bank digital currency,” Trump announced. “A digital currency would give our federal government absolute control over your money. They could take your money and you wouldn’t even know that it was gone. This would be a dangerous threat to freedom and I would stop it.”
The audience loudly cheered and applauded his statements, to which Trump replied he was stunned the public was even aware about the plan to eliminate cash. Trump is not alone in his sentiment as DeSantis has been outspoken about the control CBDC would provide the globalist elites, as was Vivek Ramasamy and other Republicans.
Those reading this blog already know the dangers involved with digital currencies. CBDC are intended to control our behavior. This will transform society into a digital prison, which is why the Founding Fathers outlawed direct taxation. The rally to Marx at the end of the 19th century led to the introduction of the income tax in 1913, and they swore they were going only after the trich. By World War II, they introduced the payroll tax because Roosevelt’s Marxist agenda was to include Social Security, and we, of course, had to be FORCED to save money for our own future. That became a slush fund that was restricted to buying government debt. In Canada, Trudeau froze all accounts of those protesting COVID restrictions in the Truckers Convoy as a test for what is to come.
The elites in Davos have been speaking about the implementation of CBDC all week. They claim it will stabilize financial markets. They genuinely believe that YOU owe them money. The 99.9% must be controlled in every way imaginable to permit those at the top to live lives that low-level billionaires could hardly imagine. The plan has been in place for years but now they’re ready to pull the rug out from under us.
The globalists are behind this push. In America, we cannot even blame the puppet in charge. He recently did an interview where he said that he sympathized with Americans who he believes are charged a fee for calling their banks to check their account balance. He has absolutely no idea what is going on. Children understand the current banking system more than Biden. They would never allow anyone outside of the establishment to sit in the Oval Office, and 2016 may have marked America’s last fair election.
There is no question that the real problem here is that the financial system is collapsing, and they can no longer hide the destruction from the public. These morons in government have been borrowing since World War II with ZERO intention of ever paying off the debt. They are running out of buyers and turned their clients into enemies. They are prepared to weaponize their central banks. Governments are desperate, and in their mind, YOU — the useless carbon that should only exist within their set parameters — are the problem.
Posted originally on Jan 8, 2024 By Martin Armstrong
The World Economic Forum recently published an article explaining how banks can attract the youngest members of the global workforce. Gen Z (born between 1997-2012) is the first generation to grow up with the internet. Younger Millennials had access, but not to the extent of Gen Z who does not recall life before smartphones. The WEF is looking for ways to profit on their trust in digital products.
The article notes a survey by Oliver Wyman Forum that found that Gen Z has confidence in traditional brick-and-mortar branch banks, with 43% indicating the physical locations give them “peace of mind.” Around 72% of adults in that demographic use “neobanks” which are online-only but various apps and updated features that actually do simplify banking for young individuals. The WEF believes merging the two will benefit the generation who will own nothing and be happy.
They speak of how Gen X is more likely than Millennials to begin investing in equities at a young age, but they fail to note that is because no one trusts government investments. As for young investors, bonds and traditional vehicles are simply boring. Their risk tolerance is much higher. We saw the Gamestop phenomenon and the countless people who lost it all while shouting “DIAMOND HANDS” and “HODL” (yes, I have heard the lingo against my will) as they were misled into believing that they had the power to manipulate the markets.
The WEF also discusses how Bitcoin and cryptocurrencies appeal to the younger investor, but that it “does not imply any rejection of traditional sources of money.” Wrong!
“To build lasting relationships with Gen Zers, however, banks need to combine their physical presence with a competitive, exciting digital offering – including in the metaverse, where many members of this generation spend time. Banks must also provide services that satisfy Gen Z’s demand for convenience, choice, value, sustainability and hyper-personalization.”
Do you see where this is going? The WEF believes that Gen Z will be more willing to accept the idea of digital currency. They will market it as “exciting,” using their own word, and simply another modern technological advancement. They know that the next generation does not have the life experience to understand the full scope of what is happening. It would come as no surprise if the globalists began marketing digital currency to a younger audience first, especially before it becomes mandatory.
Posted originally on Dec 17, 2023 By Martin Armstrong
QUESTION: Marty: You have mentioned that Trudeau’s freezing of accounts of anyone who donated to the Truckers was a test run for CBDCs. Do you think this is the end goal to control 100% of our lives?
GD
ANSWER: Hopefully, this will become a Presidential campaign issue. But they are desperate to stop Trump. Congress, including the traitors pretending to be Republicans, passed legislation that NO president can withdraw the US from NATO. This will enable the Neocons to start war BEFORE the 2024 election, and this legislation is to usurp the power of the president, assuming it might be Trump to make it so that he cannot exit World War III. Every politician who voted for that legislation should be thrown out of office in 2024 – PERIOD!
That said, the CBDCs are intended to control our social behavior. This transforms society into a digital prison, which is why the Founding Fathers outlawed Direct Taxation. The rally to Marx at the end of the 19th century led to the introduction of the Income Tax in 1913, and they swore they were going only after the trich. By World War II, they introduced the Payroll Tax because Roosevelt’s Marxist agenda was to include Social Security, and we, of course, had to be FORCED to save for our own future. That became a slush fund that was restricted to buying only government debt to fund this Marxist agenda.
You are being imprisoned with every piece of legislation, like reporting $600 transactions through various cash apps. You have lost ALL your LIBERTY – you don’t know it yet. They could simply create some nonsense and prevent you from donating to Trump or RFK and just make up some nonsense charge. The January 6th had unmarked buses filled with federal agents dressed as MAGA supporters before anyone showed up to stage the event so they could charge Trump and use the 14th Amendment to prevent him from gaining the White House. The Democrats refused to let RFK in, and Biden refused to give him Secret Service protection. In Florida, they tried to remove any contender from the ballot to challenge Biden. This is all about creating war. They let the border open to allow terrorists in so they can declare Martial Law and restrict everyone’s movement. All FREEDOM has been lost!
What Trudeau did in Canada permitted the bypassing of due process of law, which is the foundation of a free society. Wake up! Digitization of the monetary system will allow them to totally kill all dissent. There will be NOTHING left standing. This is what 2032 is all about. We are the ants beneath their feet. Anyone who thinks they care at all about us is an absolute fool.
We cannot stop it. This is NECESSARY for political change. This is them fighting to retain power when they fully understand that this monetary system is collapsing. This is not going to be this Great Taking. That would be an instantaneous revolution. They are not that stupid for even the army would rise up against them. This is about total control leaving you with your trinkets.
As this is rolled out, ONLY then will it open the eyes of the masses. Unfortunately, this is also why movements like Transgender, Black Lives Matter, you name it, are all about dividing the people. They MUST keep the people divided and fighting among themselves so they do not unite against the government, where the common denominator is FREEDOM.
It was Julius Caesar who said – Divide and conquer. Hitler attacked the Jews BECAUSE they were the bankers, and he needed to blame the hyperinflation on the bankers. He divided the people and then came – Papers, please! That is precisely what they are doing to us with CBDCs. This is the purpose of Gates’ UN-organized digital IDs. To prevent freedom of movement. Digital IDs to vaccine passports are all designed to prevent movement. Europe, as of January 1, 2025, will require visas from Americans to visit, and they will apply your social credit score to determine if you are eligible. Still, they intend to start World War III before that, creating an external distraction to divert people from the loss of liberty. This is the government’s objective- the enemy of freedom – as always, no matter what century or culture to look at.
There is no question that the real problem here is that the financial system is collapsing. These morons have been borrowing since World War II with ZERO intention of ever paying off the debt. They are running out of buyers. Attacking Russia and China has divided the world economy, which may be the Neocons’ goal, but they do not care about the country or the people. They are just sick individuals engaging in hate crimes. Now they are running out of buyers for their endless borrowing. They NEED to default on the debt, and it is what Schwab is really saying you will own nothing and be happy.
Do not forget that Christine Lagarde, who is now the head of the European Central Bank, got where she is because of Schwab. She was on his board of trustees. The same is true about the head of the IMF and the head of the EU. The World Economic Forum has infiltrated everything. They are pushing for the end of any possible right to vote. We, the people, are far too stupid to understand the world as only they can. After all, they see themselves as a demigod since they are above everyone else.
Democracy is how Trump came to power. They are not about to allow a non-career politician to ever take power. This is why they are attacking RFJ. Democracy becomes evil “populism” when the people vote against the establishment. This is also why they are doing everything possible against Trump. If that does not work, they will assassinate him as they did to JFK.
If you are going to play poker, you better know who you are playing against. Do they bluff? Can you tell? Those who blindly think that somehow cryptocurrencies will be the alternative of CBDCs are too caught up in their own BS to open their eyes. This is all about total control. There is NO WAY that these people will allow any private cryptocurrency to complete. In addition, the controls that Lagarde is talking about will also be the shutdown the purchase of gold and silver post-2024. This is a game for ultimate power. That is what we face going into 2032. They will fail, for freedom will surface, and we are looking at massive civil unrest and, ultimately, revolutions worldwide. Any alternative will threaten their power.
1. Due to the draconian rules the US digital currency shall operate under, would you consider the coming US digital currency to be the worst form of currency—worst store of value—worst asset to hold, and if so would it be better to get entirely out of cash before the US Dollar is canceled and the digital currency introduced? 2. When the US Dollar is canceled, will the entire value of all bank and brokerage accounts be automatically converted by banks and brokerage firms to the new digital currency? 3. Do you think there will be draconian rules, such as digital ID’s, instituted to be able to access the internet in 2025 to be able to access and cash out of bank and brokerage accounts? 4. What use will it be to invest in anything post 2024 if money in brokerage and bank accounts automatically becomes digital currency subject to draconian rules with draconian rules to access or take possession of the funds in one’s bank or brokerage account? 5. In the interview you did on May 20th you mentioned “they” are talking about bank bail-in’s. Aside from bank accounts, could bail-in’s be done from people’s brokerage accounts? 6. If one does not “opt in” to the new digital currency and if every legal financial transaction from the point the US introduces the digital currency must be made via the new digital currency, how will one be able to pay their taxes and property tax and will such a person lose their house and their assets be confiscated for not paying their taxes and property tax if they choose not to take part in the digital currency, digital ID and digital health pass? 7. Do you think inheritance will come under rules so draconian that sane children would prefer to forgo their inheritance rather than opt into anything that could harm their health and limit their freedom? Or do you think “they” will just abolish inheritance altogether? Would you recommend putting all assets and accounts in one’s children’s names now, to avoid this possible scenario as far as it can be avoided? 8. During World War 3, if the US gets nuked or if at any time in the future there is an EMP attack or a severe cyber-attack and the grid goes down for an extended period of time, what shall become of bank and brokerage accounts? Thank You Sir
D.I.
ANSWER: Undoubtedly, this entire scheme of digital currencies will be the death of Western Civilization. The Founding Fathers prohibited Direct Taxation which was repealed during the Marxist movement toward creating the Income Tax. Once the income tax was imposed, the government then needed to know everything you did. That is why the Founding Fathers prohibited any form of direct taxation. Now even a journalist, if he fails to comply with the demands of the government, is targeted by the IRS. This allows them to go after anyone unless you are the son of a senile president who does as he is told. So yes, this will be the WORST currency in human history and it will be the final nail in the coffin of freedom.
They will most likely cancel all currencies AFTER the US 2024 election. It will need to be coordinated to prevent capital flight. Whatever is in bank accounts or brokerage accounts will be re-denominated in the new digital currency. The IMF is pushing hard to replace the dollar with its version. The likelihood of the collapse of the IMF and world institutions will probably arrive in 2031.
Big Tech will comply. They are already stripping us of our freedom of speech. This will become IMPERATIVE to oppress all freedom in hopes that they can establish this new totalitarian state which is the dream of Klaus Schwab and his band of merry thieves at the World Economic Forum. So the Internet will be highly monitored and restricted.
The point of investments post-2024 will be to hold on to tangible assets. They will make the transition from one currency to the next.
As far as bail-in’s being applied to people’s brokerage accounts the answer is yes. That was already done by Judge Martin Glenn who presided over M.F. Global bankruptcy and created the first BAIL-IN without Congressional Authority. He was the first one to engage in FORCED LOANS by abandoning the rule of law to help the bankers and protect Corzine from losses by taking client accounts to cover M.F. Global’s losses. That is no different from what we saw in Cyprus. He simply allowed the confiscation of client funds when in fact, the rule of law should have been that the bankers were responsible and M.F. Global’s losses, and it should have been reversed. Never should the client’s funds be taken for M.F. Global’s losses to the NY Bankers.
You will have NO “opt out” avenue. Taxes and commerce will all be digital. This is why they are pushing 5G in order to create instant transfers to enable them to replace cash transactions.
Regarding inheritance, the LEFT is also ready to push behind the curtain that upon death, everything should belong to the state. I fear this will only unleash civil war. Nevertheless, there is the crazy leftist in Australia proposing just that. It is unfair for one person to have wealth and another nothing. Concerning putting all assets and accounts in one’s children’s names now, avoiding this possible scenario as far as it can be avoided carries tremendous risk. It all depends on your country. When I bought a house 30 years ago, I simply added my children’s names. Today, you can’t do that, for it becomes taxable to them.
While we cannot rule out tactical nuclear weapons, the risk of an EMP attack will be devastating. That will wipe out the economy and take down the internet. The prospect of whatever you have in an account could simply vanish. That is one primary reason I am against the whole crypto-CBDC agenda, for in times of war, an EMP could devastate an adversary. I think this simply warns you should have some old silver coins pre-1965.
COMMENT #1: Hi Marty I forgot to mention the ATMS nearby where I live right now.. I use a Credit Union and their withdrawal limit at the ATM at the branch no less has always been $400 these past couple of years. So I would go to the Wells Fargo ATM nearby down the road where I could withdraw $1000 in cash. The machine would ask you if you wanted a mix of 50s and 20s or all 20s. Well, this past week I went to the WF ATM where I have not gone for quite some time, many months. To my surprise, the withdrawal limit has been reduced from $1000 to $600. So there you go they are slowly turning the screws to try to cage us all in. Best Alice
REPLY: I opened an account at one of the top 5 just for convenience since it was down the street from me. Since COVID, I noticed they closed that branch and many others. If you move to CBDCs, then banks no longer need branches for you can deposit a check on your phone, and they want to eliminate safe deposit boxes because they think people hide cash there.
The masses do not realize what CBDC really entails. It is marketed as a convenient and modern way to bank. In truth it is a tool for control, an important tool that governments need to usher in the Great Reset. A recent poll by the Bank of Canada aimed to see how willingly the public would accept a new digital currency. Surprisingly, the majority said they were willing to make the switch without hesitation.
An alarming 59% of respondents said they are willing to switch to CBDC once available. They do not realize that they won’t have a choice in the matter. Around 43% said they were “somewhat willing” to accept CBDC. Then 11% said they were “very willing” and 5% “extremely willing.” Only 25% said they would not make the switch, which again will not be optional. Only 16% admitted that they do not understand the concept.
It appears that the public does not understand the risks involved. Over half (51%) said they were confident the central bank would securely handle their transactions and data. Around 56% said they were concerned about the potential for fraud, cyber attacks (53%), personal data misuse (44%), and lack of anonymity (35%). The central bank, of course, did not ask the real question – Are you comfortable with the government controlling all of your financial transactions?
Eighteen of the G20 countries have already begun developing digital currencies. The real threat here is that CBDC will provide governments will full access to our finances. We see how easily private banks de-bank individuals. Trudeau was able to cancel accounts of protestors and their alleged supporters in an instant.
CBDC would allow government to deny people access to their finances entirely, especially since cash will not be an alternative. The WEF wants to link individual IDs to the banking system and throw in social credit scores for good measure. A WEF spokesman recently said during the Summer Davos that they would like to control what people buy and ban unapproved purchases. Then they will ensure no money goes off the grid as governments want to tax us into oblivion. Now is the time to show resistance to the idea. Once they implement these policies, there is no going back. They will give us a timeframe to convert our cash to a CBDC and then governments will have complete control over our finances.
Despite the cheering from the Washington Post, CNN, NY Times, and the rest of the anti-Democracy press that supports their stringent demands upon the nation, my phone has been in meltdown ever since Trump was arrested. These leftist zealots are cheering the end times for EVERY phone call I have had from Asia to Europe, they are all expressing complete shock that the United States is collapsing and they are now all seeing that our forecast that the 2024 Presidential Election would be the most corrupt in history and market the END of democracy in the United States.
These people just do not get it, They crossed the line and now the view of the United States from the outside looking in, they no longer believe that America is the beacon of liberty to the world. It is becoming so obvious that our computer will be right again. I warned it even was showing that the 2024 election might not even take place. That was a small 18% probability, but that NEVER came up EVER in this history of running our political models – NEVER!
This year, 2023, was a MAJOR Directional Change that was showing up in both the LEFT & the RIGHT databases. The year 2025 is when a president would take office in January. This has been the #1 target on our political models for decades. The NEOCONS are in full control of the government. There is no way to stop the collapse of the United States at this point. Nobody will listen and there is nothing I can do. People often ask what if people protested? We will never realize the opportunity to reestablish a new form of government post-2032 without the pain and destruction first.
During the Reign of Valentinian I and his brother, Valens, who came to power in 364AD where Valentinian I died in 375 and Valens ruled into 378, there are serious correlations from both and economic and monetary perspective. They too saw their power weakening so they allowed the Goths to cross the Danube and settle within Roman territory provided they would also then serve in the Roman military. This is what is really behind Biden allowing all these people to flood in through the border. What they do not realize, is that history repeats as Biden grants citizenship in return for military service. The Neocons want to build an army to defeat China and Russia simultaneously. Additionally, they assume that all these illegal aliens will vote Democrat so they can decimate the economy of natural-born citizens.
Besides the barbarians storming across the border as we see today under the Biden Administration, here is a tax collector’s ingot. There was so much debased coinage in circulation, they no longer would accept their own coins in payment for taxes. Instead, the taxes were to be imposed by weight and in-kind. The coins had to be melted down. Below the bar, is a weight you would put on one side of the scale. Here we are on the dawn of digital currencies and the elimination of all paper money and even cryptocurrencies whereby they will only accept digital to end what they see as the black market.
Here is a medieval coin scale serving the same purpose – accept coins only by weight.
Posted originally on the CTH on June 17, 2023 | Sundance
In this podcast interview between former HPSCI Chairman Devin Nunes and journalists Margot Cleveland and Lee Smith, the discussion begins with the recent revelations provided by Senator Chuck Grassley about audio tapes as evidence in the Biden bribery scandal. {Direct Rumble Link}
As the story has unfolded, the Confidential Human Source who tipped off the FBI to Joe Biden taking bribes from foreign governments, also claims to have audio tapes of himself talking to Joe Biden about the issues when Biden was vice-president. The FBI has been sitting on this Biden bribery knowledge for multiple years.
The most common opinion of the FBI motive was their intent to burying or capture negative information about Biden. However, with the institutional corruption of the domestic national security apparatus being very visible within DOJ and FBI, Lee Smith ponders whether the FBI/DOJ might be holding back the Biden bribery material as part of their leverage against the White House. It is an interesting angle to consider. WATCH:
Lee Smith is very wise in the ways of the Deep State.
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