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.
Posted originally on the CTH on January 26, 2024 | Sundance
In this brief video below {Direct Rumble Link Here} Former Blackrock portfolio manager, Ed Dowd, explains why every last remnant of human freedom depends on mass resistance to Central Bank Digital Currencies (CBDCs). “Once the central bank digital currency is linked to all your credit cards and bank accounts, then social controls can be implemented. If you’re a dissenter like me, talking about truth, they shut you down.” WATCH:
I know at first blush a lot of this CBDC discussion seems esoteric, difficult to understand, and there are a lot of other issues happening simultaneously in the background. However, if you contemplate the biggest threat on this overarching power arc of western government, you arrive to understand how serious this seemingly opaque issue really is.
I first started to deep dive research into these CBDC datapoints when the Russian sanctions were triggered. You see, nothing about them really makes sense from the way they were structured; additionally, the intensity of the drive to make the sanctions the tip of the western spear was just too pointed, something about it didn’t make sense. That’s what took me to dig deep into the impact and realize nothing said about these financial sanctions makes sense when compared against their actual irrelevance {Go Deep}.
When the White House first started openly saying the Biden administration was reviewing how to implement CBDC’s, yes THAT Announcement ACTUALLY HAPPENED, September 2022, then things from a research perspective really started to get serious. “While the U.S. has not yet decided whether it will pursue a CBDC, the U.S. has been closely examining the implications of, and options for, issuing a CBDC.” Whenever the U.S. govt says they’re “undecided,” pay close attention.
First things first with the Western financial sanctions- specifically the SWIFT exchange. It is true you cannot use VISA, Mastercard or any mainstream Western financial tools to conduct business in Russia; however, the number of workarounds for this issue are numerous. One of those tools is the use of a cryptocurrency like Bitcoin; and within that reality, you find something very ominous about the USA motive against crypto.
“I’ve always been deeply opposed to crypto, bitcoin, etc.,” Dimon said in response to a question from Sen. Elizabeth Warren, D-Mass. “The only true use case for it is criminals, drug traffickers … money laundering, tax avoidance because it is somewhat anonymous, not fully, and because you can move money instantaneously. “If I was the government, I would close it down.” (read more)
Dimon was/is positioning JPMorgan to be a facilitating beneficiary of the financial control system evident within any CBDC process.
Here’s how it really looks from the outside looking at the USA. The same way the Patriot Act was not designed to stop terrorism but rather to create a domestic surveillance system. So too were the “Russian Sanctions” not designed to sanction Russia, but rather to create the financial control system that will lead to a USA digital currency.
The Western sanctions created a financial wall around the USA, not to keep Russia out, but to keep us in. The Western sanction regime, the financial mechanisms they created and authorized, creates the control gate that leads to a U.S. digital currency.
Now, does the exploding debt and seeming govt ambivalence, the stuff Ed Dowd is talking about, take on a new perspective? It should, because that unspoken motive explains everything. It all just makes sense when reviewed through this prism of motive and intent. Again, the western sanctions against Russia are not having an impact against Russia; they are having a quiet impact in the USA and western dollar-based economic system that no one is permitted to talk about.
Bottom line, the non-pretending reasoning. The US Treasury has set the financial system on an almost unreversible path to a U.S. Central Bank Digital Currency. As direct consequence crypto currency alternatives are a threat to the establishment of that western objective. This reality also pulls in the explanation around why the USA is so all-in for the banker-driven World War Reddit, the Russia-Ukraine conflict.
How did the Obama administration go from all efforts to be on good relations with Russia 2009 through 2015, then suddenly pivot to the exact opposite with the Trump-Russia collusion conspiracy, the Russian election interference nonsense, the expulsion of Russian diplomats in Dec/Jan 2017 and suddenly Vladimir Putin as the archvillain for the world? Apparently, few have ever really asked how that happened.
Here’s the big picture, as seen through the prism of the EU and the non-pretenders in Eastern Europe.
The Marxists in the Obama admin needed a boogeyman in order to pull off their domestic heist and secure the “fundamental change.” The CIA and State Dept were deployed to utilize Ukraine in 2014 to create the boogeyman, Russia. Ukraine would be the stick to poke Russia. The USA needed a proxy; they created one and made the participants rich.
Provoked, Russia fell into the trap and took control of Crimea as they perceived the NATO expansion and likely control of the Black Sea as a threat. The Crimea move gave the CIA and State Dept the exact response they intended.
The Russia boogeyman was created.
But why? Why would the effort of the U.S. Government be to provoke and create this crisis?
In the biggest of big pictures, the domestic fundamental change needed it. We needed a reason to put walls around the U.S – not to keep Russia out, but to keep Americans locked in. Conflict with Russia became the Obama version of Bush’s conflict with Iraq. Putin now cast to play the role of Bin Laden.
The Patriot Act was never intended to stop foreign terrorists from attacking the USA. The Patriot Act was intended to create the DHS surveillance system for domestic control. It succeeded. The Russian sanctions were never intended to sanction Russia (and they don’t). The Western sanctions against Russia were intended to build walls around the U.S. financial system.
Ostracizing the world’s global trade currency, the dollar, from the global trade system was/is a necessary step in controlling domestic currency. If there is a threat, the government needs to respond. That’s how the crisis is created and not wasted.
Yes, what I am saying is there was a longer and deeper play afoot, a ‘trillions at stake’ game by those who control money and power, using foreign threat as the justification for something that just would not be possible without it. That’s why Trump was never allowed to breathe for a moment, whenever Russia or Vladimir Putin was mentioned. The control forces needed Trump to be adversarial to Russia, regardless of whether the threat was real. After all, it was supposed to be a willfully blind Hillary Clinton in place during this phase.
Conflict with Russia created the opportunity for the USA to create a sanctions regime that doesn’t truly sanction Russia, instead it controls the world of USA finance. At the end of that control mechanism is a digital dollar, a Central Bank Digital Currency…. and by extension full control over U.S. citizen activity. The Marxist holy grail.
That moment is closer than most can fathom, and that is exactly why the counterforce of a cryptocurrency, a rebellious mechanism for free people to exchange payment for goods and services, must be stopped by the same USG that is triggering the CBDC. Crypto is a threat. Jamie Dimon, along with all the major banks and financial institutions, is one key beneficiary that CBDC (a transactional player for fees therein) so long as JPMorgan stays on task.
Republicans, really financial beneficiaries of the largesse, oppose crypto currency.
The narrative…. Only criminals, that means those who would be defined as domestic terrorists like pesky remnants of our nation who demand freedom and liberty, would support cryptocurrency. Criminals, tax cheats, bad people support crypto. Don’t be a bad person comrade citizen. Insert vote, pull lever, get pellet, go back to sleep. You will own nothing and be happy comrade.
Yes, that’s the bigger picture.
Can it be stopped? I laugh, look in the mirror, think about the reality of how many people think this is an absurd conspiracy theory, and respond with…. How many people even know about the thing you are asking to oppose?
How many people would believe the Western sanctions against Russia were really the USG building a cage to keep us in. How about we start there. That’s my answer.
During remarks in New Hampshire, President Trump announced he would never allow the creation of a central bank digital currency. WATCH:
Of course, it should be noted….. As if the entire global system didn’t already oppose Donald Trump, this position against CBDC’s just puts an exclamation point on how the multinational financial systems will hate/oppose him even more.
This 2024 election is critical for a variety of reasons. However, high atop that list is this issue of how a dollar based CBDC is a threat to every liberty we cherish.
Unelected globalists at the United Nations Development Program (UNDP) have been working on the Digital Public Infrastructure (DPI) for the past decade, which is step one for the digital ID system.
“Digital public infrastructure (DPI) is a shared means to many ends. It is a critical enabler of digital transformation and is helping to improve public service delivery at scale. Designed and implemented well, it can help countries achieve their national priorities and accelerate the Sustainable Development Goals. Governments, donors, the private sector and civil society alike have an opportunity to shape it – join us!”
Per usual, they are marketing this program as a convenient way for the modern-day man to access documents. Using the data from DPI, 100 countries are expected to progress toward Sustainable Development Goals (SDGs) by 2030.
“Following the G20 Leaders Declaration in 2023, Digital Public Infrastructure is a key breakthrough that gives the momentum needed to change course and achieve the Sustainable Development Goals by 2030, across all 17 SDGs. As new technologies advance at an exponential rate, there is an acute opportunity for entire communities to benefit from a growing array of life-changing digital solutions — from digital cash transfers to e-health – given proper investments in their own DPI.”
The plan is to track absolutely everyone, including the 2.6 billion people who do have access to the internet. Forget clean water, food, or shelter – let’s waste resources to compile their data. Speaking of resources, they are already requesting more funding since the pandemic “widened the annual SDG financing gap in developing countries from $2.5 trillion to $3.9 trillion, and similarly, available funds for DPI fall short of the escalating global needs.” Yes, trillion.
🗳️ @UNDP's iVerify is the 1st #DigitalPublicGood that tackles misinformation during elections.
The program will even enable the globalists to completely censor the news. They said that this will tackle misinformation during elections, or rather, another tool for propaganda.
None other than Bill Gates has a hand in this madness. The Bill and Melinda Gates Foundation is supporting the “50 in 5” program that aims to help 50 countries develop their own DPI by 2028.
DPI will enable the globalists to promote SDG in the following ways:
SDG1 No Poverty: DPI could lead to a cycle of increased economic resilience, added job opportunities and reduced poverty levels to help as many as 670 million people (or 8.4 per cent of the world population) living in extreme poverty.
SDG5 Gender Equality: DPI could enhance service delivery to more than 250 million women.
SDG8 Decent Work and Economic Growth: Enabling DPI can bring access to financial institutions for more than two billion people who do not have a bank account.
SDG13 Climate Action: Using DPI for common Measurement, Reporting, and Verification (MRV) systems and interlinking carbon registries can reduce CO2 emissions equal to 3–4 percent of current LMICs’ emission reduction targets.
This is absurd. They want us to believe that they could eliminate poverty entirely by forcing every nation to hand over complete control to an unknown few. They want gender equality, but wait – what’s a woman? The only economic growth they see from this project is further taxation that will never benefit the people. Of course, they have to throw in climate change since that’s the main cash grab scare tactic.
Don’t you see? All of the world’s problems could be resolved if you abandoned your freedoms.
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