Monday, July 24, 2017

WE STILL NEED CASH, EVEN IF THE ELITE WANT TO STEAL IT ALL



On July 14, 2017 CNN featured a very disturbing article on its website, "Visa offers restaurants $10,000...if they stop accepting cash". For anyone familiar with economic theory and history, this is a terrifying development, but not completely unexpected. What the Establishment is really worried about is bank liquidity if the economy begins to sour. I have mentioned this before in a previous article, and nothing has changed since that time. Everyone should prepare themselves for the coming economic turbulence by getting away from Wall Street, and putting their money into physical assets.
 
Billionaire investor James Rickards, whom I have previously quoted in my articles, wrote a correctly named article  "The Elites Are Privately Warning About a Crash". Unfortunately, the geniuses at the Federal Reserve with their infinite wisdom, have created the perfect Doomsday scenario. As the author points out, the pace of currency production is not sustainable, nor was it ever. Over the past few decades the Federal Reserve has flooded the market with paper money, and cheap credit which acts the same as paper money. They have devalued the currency, so prices appear to be constantly rising; however, the truth is that they have impoverished the poor and middle class by reducing the buying power of our money.  

Columnist David Stockman also writes about the frightening economic future in his article "The "Chuck Prince Market" Redux — Only More Dangerous". This author focuses on the same issue from a slightly different perspective; however, the results are the same. Massive injections of new currency, and private and public debt that has surpassed $100 Trillion, will cause the economy to ultimately crash.

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