The Global Cash Ban is Not Over… It’s About To Intensify
- The Global Cash Ban is Not Over… It’s About To Intensify
by Phoenix Capital…, via http://www.zerohedge.com
The War on Cash is not over… it is about to intensify. The Trump Presidency has distracted from the next major move to be implemented by Financial Elite. That move is a cash ban. Cash, particularly physical cash (as in bills and coins) is a huge problem for insolvent banks. Indeed, it is the ONLY problem they have yet to address.
If you’re a large bank and you’re overleveraged due to excessive assets to capital ratios (particularly assets that are at risk of losing value or default) there are three key issues you need to control.
1) You need to be able to value your assets however you please.
2) You need access to liquidity without lowering you asset to capital ratios.
3) You need to be able to stop bank runs or capital flights.
The Central Banks have already fixed #1 and #2 by suspending “mark to market” accounting standards and implementing QE, respectively. And thanks to rehypothecation, banks can sell assets to Central Banks via QE and still use those same assets as collateral on their derivatives trades.
That leaves #3: capital flights.
At the end of the day, no matter how many tricks the Financial Elites employ via accounting gimmicks and QE programs, depositors can still choose to take their money out of the banks and transfer it to physical cash.
Hence the call for cash bans, particularly of large bills. The Elites claim that they want to do away with $100 bills (or greater denominations) to stop money laundering or other illicit practices.
The reality is that banning large bills makes it much more difficult for depositors to move their money into cash. Taking out $20,000 or more in deposits when it’s broken down into $100 bills isn’t too difficult.
November 22, 2016 - Posted by mosesman | Economics, EndTimes, GeoPolitics, Social Trends | corruption, Currency, Europe, Fascism, FederalReserve, Fraud, GreatDepression, Illuminati, New_World_Order, Police_State, propaganda, Psyop, Satan, US
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Societal and economics observer and commentator with an endtimes, future history perspective, in a satirical way. Follow me at Twitter: socioecohistory
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