The Final Act to Push America into a Cashless Society
by John Galt
October 24, 2012 18:05 ET
The local news story from WBBH NBC2 television in Fort Myers, FL below started me on the path of considering the last, final, desperate act after hyperinflation destroys the lives of the average American:
No big deal, happens all the time, right? The U.S. Secret Service is on top of the case and will bring the perpetrators to justice in this case as they usually do and thank goodness for that.
But what happens when one day soon, the counterfeiter turns out to be the Federal Reserve Bank of the United States? What happens when a citizen withdraws money from an ATM that is bogus or cashes a check at their local credit union only to unknowingly receive phoney 1′s, 5′s, 10′s, and 20′s? Worse yet, what happens when the counterfeit bills are so good, that nobody detects them initially until they receive widespread usage in the system then one, two, or three months later the “discovery” is announced to an unwitting public?
The initial advice everyone will receive is to “stick to using your bank cards, credit cards, or EBT cards for purchases until further notice until the bogus bills are removed from circulation. Such an action would force the remaining 20-30% who have resisted using non-cash methods for purchases into the system or face starvation. It would also give the banks an excuse to not issue paper currency due to the crisis until further notice. This would be the final act to force America into the long discussed cashless society and allow full monitoring of all economic activity by U.S. citizens anywhere in the world.
This step is so drastic it is unthinkable but it is 100% logical when one takes a moment to ponder the “how” of such an event. There are now approximately 1.697 billion debit and credit cards in use inside the United States of America (per the U.S. Census Bureau projected data for 2012). For those non-participants in such a system, the government would be more than happy to offer an immediate issuance of an EBT hybrid debit or credit card along with special banking privileges to be instituted through the largest Federal Reserve banks, thus ensuring that all parties make a profit on the forced inclusion of these citizens who have wished to live their lives “outside the system” in the words of the authorities for all these years.
I can only offer one bit of advice to my readers: Consider purchasing a portable counterfeit bill detector that works of batteries, something more substantial if one operates a business. I have found several practical devices which fill this need from Amazon.com and they are linked in the advertisement below with a price range of $20 to over $200.
Terminus of orbis terrarium ut not teneo is
10.24.12 AEP: Germany wants their Gold Verified and Shipped Home
by John Galt
October 24, 2012 19:30 ET
The story from Channel 7 in Australia has set off alarm bells worldwide:
While this is not a surprise to many of us after the counterfeit Morgan and Peace dollar scheme uncovered last year and the discovery of hollowed out gold plated tungsten filled bars around the world, apparently the trust between the central banks has fallen to the point where the German Bundesbank wants to bring some of its gold home as well as the ability to send auditors in to verify that the holdings physically exist! The story below from Ambrose Evans-Pritchard in the U.K. Telegraph tonight should raise some personal alarm bells about the future of the world economy:
The story contains one section which in this commentators opinion is both stunning and disturbing:
The country has 3,396 tons of gold worth €143bn (£116bn), the world’s second-largest holding after the US. Nearly all of it was shifted to vaults abroad during the Cold War in case of a Soviet attack.
Roughly 66pc is held at the New York Federal Reserve, 21pc at the Bank of England, and 8pc at the Bank of France. The German Court of Auditors told legislators in a redacted report that the gold had “never been verified physically” and ordered the Bundesbank to secure access to the storage sites.
It called for repatriation of 150 tons over the next three years to test the quality and weight of the gold bars. It said Frankfurt has no register of numbered gold bars.
Excuse me? The German central bank has no record or registry of its own gold bars? It has never audited or validated the holdings at the Federal Reserve Bank in New York? Are they insane?
The Federal Reserve has been playing games with the American public for years and the inability of the U.S. Congress to get an accurate accounting and audit of both the U.S. gold holdings and the activities of the Fed should have prompted the Germans, as well as other nations, to ask for an audit many years ago. The most disturbing aspect of this story is the public announcement of the action to be taken. The question I must ask is simple and a warning:
Is Germany actually preparing for the collapse of the United States instead of just repatriating some of their holdings?
My money is on a “yes” answer to this question, especially if President Obama wins re-election.