‘… Wall Street Shills will be in the news explaining how markets become unreasonably fearful from time to time. They will tell investors that it is time to hunt for bargains.
‘In the meantime, watch your rear: There’s a serious counterattack coming.
‘It will be an attack on our supply lines. The cronies and the feds will attempt to cut off our finances and our line of retreat, trapping us between the anvil of the market’s deflation and the hammer of the Fed’s inflation. There will be no escape, no way out.
Bill Bonner, Bill Bonner’s Diary, 09/02/2015
Bill Bonner correctly identifies The Threat that is coming from The Mega-Bank Cartel (Note 1) – an ‘attempt to cut off our finances and line of retreat’ – that is, The Cartel’s Attempt to discourage and, in certain circumstances, prevent the use of Cash. Take Note that Mega-Bank Moves in this direction are already occurring.
But The Threat is much Broader than that, and includes dethroning the US$ as the World’s Reserve Currency and replacing it with a New Reserve Currency, IMF SDRs, a ‘Currency’ which could not be owned by Citizens, but would be Controlled by The Mega-Bank Cartel’s IMF.
Worse, this would result in a dramatic drop in the Purchasing Power of Citizens’ (like you and me) Fiat Currencies, in effect, a Confiscation of Citizens’ Wealth.
But before we address that IMF SDR Threat, Consider how the ‘Cash Abolition Threat’ – an ‘attack’ as Bonner correctly puts it – is likely to play out.
‘… Wall Street Shills will be in the news explaining how markets become unreasonably fearful from time to time. They will tell investors that it is time to hunt for bargains.
‘In the meantime, watch your rear: There’s a serious counterattack coming.
‘It will be an attack on our supply lines. The cronies and the feds will attempt to cut off our finances and our line of retreat, trapping us between the anvil of the market’s deflation and the hammer of the Fed’s inflation. There will be no escape, no way out.
‘Last week, the influential Financial Times newspaper ran an article calling for the abolition of cash. … And it claimed that cash causes ‘a lot of distortion in the economic system’.
This post was published at GoldSeek on 4 September 2015.
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