I get it now and again in the business, I do not and will not have a card terminal, which stops everyone from paying me with plastic, which stops everyone who only has a credit card and no cash from paying me, and pay comes before play, but for all that it is still a largely electronic virtual fiat transaction.
Demonetisation day 9 in India, and of course it’s largely ignored in western media, when it really should be a top of the hour every hour story, because it is the story of what happens when the government decides that, in order to stop terrorism / black economy / donald-fucking-trump / drugs cartels / whatever, they just make all the higher denomination paper money bills invalid, if you hold any, you have to go to a bank and exchange them for the new replacement not so high denomination bills….
… in a country where a lot of the people don’t even have a bank account and where cash is king, you get paid in cash, you spend cash, there will probably be millions of indians whose nearest bank is far enough away that unless you want to spend 3 days walking there are 3 days walking back, the only way you’ll get there is to spend a bunch of money you can’t afford to get there and back, but most of the money you actually hold is now worthless, so you can’t spend it on a bus or train ride, because the bus and train companies won’t take it… because it’s now worthless until it is exchanged in a bank for the new notes, and that process is chaotic and slow.
If you have hundreds of millions of rupees in the bank down the road in a city you can of course easily enough do an electronic transfer to the Mercedes dealership to buy your new S class….
But make no mistake, the war on cash is already here in the west, and it is going to get bigger and badder and meaner because the move is to outlaw cash, like guns, only criminals have guns, so gun ownership is criminal, but an illegal gun fires bullets just as well as a legal gun, an illegal fiat currency is poor quality toilet paper at best.
We here in the UK used to have a cash economy, some time later after the introduction of fake paper substitutes like cheques and later still fake electronic substitutes like plastic and e-banking, there were still vestiges of the cash economy, but by then it was known as the black economy.
In the 2 years my business has been running I have seen a decline in the black economy, despite incentives of around a 20% discount on every bill, the amount of cash I take is decreasing steadily, with erstwhile regular cash customers now opting for paper invoices and cheque payments, and these are the old die hards who have bugger all “internet” and “e-banking” facilities / knowledge / inclination.
Bank branches are closing and those that are open are using machines instead of staff and fewer staff numbers, so it is increasingly a pain in the ass to go and draw cash to pay me or anyone else cash and get a cash discount, again, most of these regular customers are in a position to simply pass on the increased cost to their customers, and it saves them having to go to the bank and draw cash every time they give me an order.
“They” are creating a situation where the only people who will be using cash are those who are dealing in drugs and stolen goods, and those who cannot get a bank account and plastic debit card and have internet and e-banking, and ever here in the prosperous west, there are more of those than you would be comfortable believing exist… so many that there were initiatives to create an inclusive alternative for them in the shape of bank accounts lite with the Post Office, and even those some people can’t get.
Thus the initial premise that only the undesireables and criminals use cash becomes a self fulfilling prophecy, meanwhile billions at a time money launderers and criminals like HSBC et al continue to function perfectly because after all electronic virtual fiat currencies is their forte…
At this moment in time I do not have any outstanding bills, having drawn 200 quid in cash yesterday to hand to my local mechanic to ensure one of the vehicles in maintained in top condition, I have a whopping 100 quid left to last me until the end of the months, and a small cash in hand job to do tomorrow, and a not so small used to be cash but is now cheque (so takes 4 working days to clear” job, and about ten days until the next regular lump sum comes in, so basically I don’t have any financial problems, I have enough electronic virtual money to make the end of the month without any changes in lifestyle, and if push comes to shove I always have the zero balanced credit card with which I can draw or spend 500 quids worth of electronic virtual fiat, because basically I spend what I earn, I’d like to spend more, so I’d like to earn more, but in the meantime I live comfortably and can’t complain.
I have no fear of many of the things that others along side me in this electronic virtual fiat currency world should fear, I do not have any deposits to be annexed and bailed in, I do not have any deposits to be grabbed by law and exchanged at some ruinous rate for the new electronic virtual fiat currency, newquids, or noteuros, or jewbux, or anything else, nor do I have any loans of note other than a small overdraft facility to be used against me as leverage.
I have reason to suspect that I may be due to receive a small sum of capital from the estate of a dead relative, I do not know the amount, but it isn’t a huge pie to start with and it is being divided several ways plus legal fees, so it won’t be a life changing amount or even a significant one, but I do plan to spend all of it immediately on “stuff” , goods not services, because that turns it from a liability into an asset.
I have no clue what the future will bring, I am not a prophet, on the other hand, there are some things that I know to be facts.
Nobody who is behind the scenes working on this global push to outlaw cash and move to an electronic virtual fiat currency system has my interests at heart, they have THEIR interests at heart, and the mere disparity in power and influence between us suggests strongly that the two have little if any common ground.
Take a look at the Saudi’s, now they want to IPO the oil, what the fucking fuck, why would anyone float the golden goose, the tree of life, the cup of immortality??? If you could hold on to it you would, and you wouldn’t share, and they didn’t for 50 years, and now Hitlary has lost they decide to float it? give me a fucking break, and read some history, south sea bubbles and people investing in “great undertakings” that were guaranteed to make them a fortune but the workings of which were to remain secret from said “investors” because oh look over there at that distraction.. and it’s gone…
Course, world + dog’s pensions funds will be in there like gangbusters with promises of 25% year on year growth… and it’s gone… great way to dissolve already insolvent pensions schemes and bond markets and not actually shoulder any blame.. yeah we invested everything in Vulcan Pyro Futures and who coulda guessed, the whole fucking lot went up in flames the next Friday, there’s nothing left, not even the ground it sat on, there is just the huge molten magma pit.
You know the world is fucked by design when you compare Venezuela with Saudi, they both have similar volumes of commercially available hydrocarbon reserves, but Venezuela also has minerals and agri land, but guess which one has “minor royals” clogging the streets of downtown London and Manhattan with gold plated Bugattis and Hitlary donations wrapped around kilo bars of 99.999% pure gold plated titanium…
If you (India) wanted to do it right all you had to do was go to China, they managed to get rid of denominations higher than 100 yuan, so corrupt local politicos literally could not hide significant sums of paper money under the bed any more, you just put the mattress on the pile of paper money, and yet they also managed to build build build and become the world’s manufacturing giant.
But then as I have said before here and elsewhere, study history young man, China has over 2000 years of actual history of playing with fiat currencies…
Try and take your non chinese extended family to china and try and buy and open and run something as humble as a corner store or laundry or restaurant… not permitted.
This post starts with “In God we trust, all other pay cash” because the idea is that I don’t trust anyone else, but I trust the cash they hand me, what happens when I do not trust the cash they hand me, or they have no cash to hand me, just something else I distrust equally?
By luck or judgement or insight or fortune, you’ll end up with *some* fortunates like me, who quickly dispose of any positive positions that they have in that fiat in exchange for things like coffee and diesel and smokes, and who avoid like the plague any negative positions that they might have, in the form of any kind of debt whatsoever, or any possessions that can have a lieu or tax slapped on them, like land.
An article on ZH makes the case that India is attempting to establish sovereignty from (((international currency manipulators))) by banning high denomination notes.
If true, it makes you wonder how they could be incompetent enough to allow foreigners control their physical money printing industry. Unless that incompetence was foisted upon them at gunpoint, much like the history of the federal reserve and all its opponents who coincidentally died on the Titanic.
Planning on going to India in a month, hope it stays stable enough for travel.
Comment by undefined — November 21, 2016 @ 5:02 am
re: the holoco$t
One thing I never understood about official history on the event was how ridiculous the narrative is.
How hard is it to kill millions of people for a technologically advanced civilization?
Much easier than keeping them alive during war time. According to what Ive read, people will die if they dont drink any water after 3 days. After a couple weeks of no food, they also die.
I am supposed to believe that nsdap Germany, the most technologically advanced and intelligent civilization at the time were able to build complex machinery, invent working rockets and jets, national infrastructure, and so on, but apparently were so incompetent that they didnt know all they had to do was literally nothing if they wanted to kill many people.
More likely, the official narrative is not quite accurate. Seems to me like something (((eskimos))) could actually imagine themselves doing to others, so they see the historical narrative as believable.
If youre into reading about their influence over secret societies and deep state politics, an old but good book on the topic is Occult Theocracy.
Comment by undefined — November 21, 2016 @ 5:20 am
On a side note, been traveling around Asia for a few months now. Things are modernizing fast here. Word on the street is China is pouring money into these places.
The infrastructure in Bangkok puts most American cities to shame. The prices for most things are 1/10-1/5 the cost back home. Far from the lies Ive been told, these economies embrace free markets 100x better than in the west.
It seems like the main difference between developed and undeveloped countries comes down to open markets and accountability.
In shitty places, there is often only one monopoly business allowed to operate, and its owned by the president/dictator or one of their friends. People are forced to accept shitty service at high prices, and theres no incentive for the company to improve anything.
When there is no accountability, restos/taxis/businesses will fight tooth and nail to get you in the door, bleed you for as much cash as possible, then forget about you. Uber drivers are 100x better than taxis, and they know at the end of the day theyll be accountable for their service.
The one thing government can actually do right is provide infrastructure such as modern roads/highways, traffic lights, and bridges. Everything else seems unnecessary and counterproductive for the common man.
Comment by undefined — November 21, 2016 @ 5:33 am
Many “modern looking” south-east Asia places are run by criminal gangs of local politicians and generals extorting and being bribed by overseas chinese businessmen, and are quite business-unfriendly places unless you pay the right people, and have the right sponsors.
Comment by well-spotted — November 29, 2016 @ 1:21 pm
On the Saudi Aramco IPO I think that the al-Saudi princes are going to IPO it to themselves,. not to foreigners. They are basically turning a state company into their own family company. Currently Saudi Aramco is a state company, and the a-Saudi family own the state, but this has two problems: they might lose control of the state, sooner or later (this is the third saudi kingdom in 3 centuries), and the al-Saudi family is becoming every bigger, and the princes fight over their share of the Saudi Aramco cashflow. Turning Saudi Aramco into a company owned directly by the al-Saudi family has then two important benefits:
The percentage of ownership of each branch of the family becomes a settled matter, and obviously the branch of the family proposing the privatisation is planning to take most of it.
If the al-Saudi family loses control of the state, even if they lose control of the oilfields, they can then sue in foreign courts to get control of the foreign assets of Saudi Aramco, presumably a rather large consolation prize.
Also, whichever faction may dispossess the al-Saudi family of the state, they are going to be certainly muslims and rather likely islamists, and islam respects private property.
Comment by well-spotted — November 29, 2016 @ 1:16 pm
the war on cash is already here in the west
Of course it is. In the US the highest denomination is $100 – which isn’t enough for pretty much anything useful. When I was young one of my uncles bought a house cash – with $10,000 dollar bills. Today that $10,000 dollar bill with cost more than $10,000 as they have been rounded up by banks. Just like that old silver note, or gold note was taken out of circulation and replaced with worthless paper, and now replaced with nothing, not even paper as paper can’t be anonymous, and everyone wants a trail these days.
One of the reasons that the biggest commodity today is privacy – because there is precious little of it… Make no mistake it is all in the name of totalitarianism where all power is in the government’s hands – you don’t even have any money unless the government says you do. If they want to punish you, you have nothing all of your assets are theirs. Of course, that is why people are stock-piling guns and ammo… Trump may delay things a bit with common sense and ass-kicking, but the commie-liberals will bide their time… So keep your powder dry – you’ll need it… If not in the next 4 years – soon enough…
Comment by Just Saying — December 1, 2016 @ 5:27 am