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Thread: Another ‘Barbarous Relic’

  1. #1

    Another ‘Barbarous Relic’

    Editorial of The New York Sun | August 27, 2015


    That’s the headline over a Financial Times editorial calling on authorities to consider phasing out the use of cash — by everyone, not just governments. This is what it has come down to. The government has run down the value of the dollar to less than 2% of what it was worth when our parents were born. Now it is itching to ban the use of banknotes and gets an endorsement from, of all broadsheets, the “world business newspaper.” The FT refers to the banknotes as “another ‘barbarous relic,’” which, it says, is the “moniker Keynes gave to gold.”

    Actually, it was to the gold standard that Keynes gave that moniker. He did so in his 1924 “Tract on Monetary Reform,” in which he wrote: “In truth, the gold standard is already a barbarous relic.” Added he: “All of us, from the Governor of the Bank of England downwards, are now primarily interested in preserving the stability of business, prices and employment, and are not likely, when the choice is forced on us, deliberately to sacrifice these to outworn dogma, which had its value once, of 3 pounds, 17 shillings, 10 1/2 pence per ounce.”

    In any event, the FT is promoting the idea that cash is another barbarous relic at a time when our own government is moving to attack the use of even moderate amounts of cash in the most startling ways. This story is being covered by, among others, the Daily Signal, which is published by the Heritage Foundation. It has released a book on how civil asset forfeiture makes a mockery of property rights and, as Heritage puts it, “turns the police into profiteers.” The stories it has uncovered are heartbreaking.

    The Financial Times is hoping to go way beyond civil asset forfeiture. It wants to protect government control of the economy as a matter of what it sees as principle “Already, by far the largest amount of money exists and is transacted in electronic form — as bank deposits and central bank reserves,” it notes, adding this FT classic sentence: “But even a little physical currency can cause a lot of distortion to the economic system.” It complains that the “existence of cash” limits “central banks’ ability to stimulate a depressed economy.”

    more at…http://www.nysun.com/editorials/anot...us-relic/89266
    "The Patriarch"



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  3. #2
    They want all electronic so they can keep up with every thing you buy, and to eliminate any paying cash under the table. The Govt. is closing in on all Americans. It is almost impossible to open an offshore bank account anymore, because of reporting requirements by the U.S. Govt. Guess if you don't follow those requirements, your country will be droned the next day.

  4. #3
    http://www.zerohedge.com/news/2015-0...arbarous-relic

    Earlier this week, as the financial world was mesmerized by a min-stock market crash, the Financial Times published a dastardly little piece of fascist propaganda.

    There is no more egregious anti-liberty economic policy imaginable than banning cash. [...]

    At this point, anyone paying even the slightest bit of attention to the central planning economic totalitarians running the fraudulent global financial system is aware of the blatant push in the media to acclimate the masses to accepting a “cashless society.”

    In the mind of an economic tyrant, banning cash represents the holy grail. Forcing the plebs onto a system of digital fiat currency transactions offers total control via a seamless tracking of all transactions in the economy, and the ability to block payments if an uppity citizen dares get out of line.

    While we’ve all seen the idiotic arguments for banning cash, i.e., it will allow central planners to more efficiently centrally plan economies into the ground, Martin Armstrong is reporting on a secret meeting in London with the aim of getting rid of any economic privacy that remains by ending cash.
    Three months later, the Financial Times publishes an article titled, The Case for Retiring Another “Barbarous Relic.” When you start to see increased propaganda about banning cash, you know the status quo is very scared and things are getting very serious. You’ve been warned.
    [...]
    So what about the reasoning for ending people’s ability to physically hold on to their own money? Wait, you’ll never guess, yes, it’s apparently necessary in order to give the least democratic, most destructive entities on planet earth, Central Banks, more power.

    The existence of cash — a bearer instrument with a zero interest rate — limits central banks’ ability to stimulate a depressed economy. The worry is that people will change their deposits for cash if a central bank moves rates into negative territory. The Swiss, Danish and Swedish central banks have pushed rates lower than many thought possible; but most policymakers still believe in an “effective” lower band not far below zero.
    [...]
    Naturally, it’s all about state power, control and the ability to make sure the slave population is easily and efficiently milked.
    Electronic money also permits innovations to reward law-abiding businesses. Value added tax, for example, could be automatically levied — and reimbursed — in real time on transactions between liable bank accounts. Countries that struggle with tax collection could go a long way in solving their problems by restricting the use of cash. Greece, in particular, could make lemonade out of lemons, using the current capital controls to push the country’s cash culture into new habits.
    Of course, if cash were involuntarily”ended,” there would be a surge in demand for physical gold and silver, which would then necessitate a ban on those items. Then the cycle of economic and financial tyranny would be complete, and crawling our way out of it, nearly impossible.
    Based on the idea of natural rights, government secures those rights to the individual by strictly negative intervention, making justice costless and easy of access; and beyond that it does not go. The State, on the other hand, both in its genesis and by its primary intention, is purely anti-social. It is not based on the idea of natural rights, but on the idea that the individual has no rights except those that the State may provisionally grant him. It has always made justice costly and difficult of access, and has invariably held itself above justice and common morality whenever it could advantage itself by so doing.
    --Albert J. Nock

  5. #4
    Cash (legal tender) serves a very important purpose. It is a convenient, standardized and guaranteed (although slowly debased) medium of exchange. It enables commerce, trade and exchange.

    What they prefer is a standardized method of tracking, controlling and taxing, which severely interferes with the previous purpose of legal tender. Getting rid of cash will create a niche (demand) for alternatives, both legal and illegal.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  6. #5
    Relics are all my favorites , I used some today . I picked up a laptop I had dropped off earlier this week for a new key pad and a replacement screen while it was there ( small crack) . 45 dollars labor, 47 dollars for the new key board , 85 dollars for the new screen was the quote , then there is sales tax. Comes to about 190 with tax , but I broke out my relics and pd 185 in cash , saved 2 1/2 percent or so, then I went to the local coin shop and for 12 relics , bought an 1887 S Sitting Liberty dime in Fine .Probably , Mon I will use a few more relics for some gasoline .

  7. #6
    Good. Let them.

    The sooner they destroy all the monopoly money, the sooner the ladies will start taking silver to the garage sales--and the sooner they will discover that silver buys just as much this year as it did last year and the year before.
    Quote Originally Posted by Swordsmyth View Post
    You only want the freedoms that will undermine the nation and lead to the destruction of liberty.

  8. #7
    So what follows? Some people rushing to BitCoin?

  9. #8
    Quote Originally Posted by VIDEODROME View Post
    So what follows? Some people rushing to BitCoin?
    Negative interest rates.



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  11. #9
    Seth Lipsky is the Editor of the New York Sun and writes the Editorials. He's an old friend of Ron Paul's.


    http://www.wsj.com/articles/SB100014...18494240593162

  12. #10
    Quote Originally Posted by timosman View Post
    Negative interest rates.
    is that when they pay us? LOL

    We're being governed ruled by a geriatric Alzheimer patient/puppet whose strings are being pulled by an elitist oligarchy who believe they can manage the world... imagine the utter maniacal, sociopathic hubris!

  13. #11
    They want an all electronic system under their full control, simply to take your money, without all this file your taxes nonsense, a totally electronic system could in theory, collect all taxes in real time. Also, if there is a disaster, they could simply redistribute some of your cash for the greater good.

    Capitalism 2015 Style... You own nothing... You are allowed use of somethings... Gov is all.

    I personally still pay for most of my store purchases with cash, simply because I like to muddy govs accounting.

  14. #12
    We have several threads now about the war on cash, Do we need to merge them?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  15. #13
    Quote Originally Posted by Brian4Liberty View Post
    We have several threads now about the war on cash, Do we need to merge them?
    I don't see why not, it all pertains to the same subject.
    "The Patriarch"

  16. #14
    Quote Originally Posted by Dianne View Post
    They want all electronic so they can keep up with every thing you buy, and to eliminate any paying cash under the table. The Govt. is closing in on all Americans. It is almost impossible to open an offshore bank account anymore, because of reporting requirements by the U.S. Govt. Guess if you don't follow those requirements, your country will be droned the next day.
    It's not the govt closing in, it's the bankers. Govt is a wholly owned corporate subsidiary of banks.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  17. #15
    Mark of the Beast time yet, anyone? Or is it still just a few more iterations down the road a bit first?

  18. #16
    The government loves this idea, because they get to keep a hairy eyeball on every transaction, and will, in the future, be able to prohibit items for sale to specific individuals.

    The banksters love this idea because it reduces overhead and security costs, and, more importantly, they get a nick of every single electronic transaction.

    They stand to make trillions if all cash is eliminated.
    Last edited by Anti Federalist; 09-04-2015 at 02:01 PM.



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  20. #17
    I was livin' it up with the relics today. Sold a nickel ( 1917 D in Extra Fine ) and six cents ( pre 1920) for 129 in FRN relics and bought six 80 percent silver , pre 1952 Canadian silver dimes, a 1916 D Silver Walking Liberty half and got 101 relics .

  21. #18
    The War on Cash Grows More Painful

    NOVEMBER 12, 2015Joseph T. Salerno
    A bill unanimously recommended for passage by the Wisconsin Assembly Committee and now being considered by the Wisconsin Assembly bans payment in cash for all treatments at "pain clinics." Bill 366 is ostensibly aimed at so-called "pill mills," which dispense prescription painkillers for recreational use. However, the bill broadly defines a pain clinic as "a place that treats chronic pain, pain lasting longer than 3 months, even if the clinic does not dispense narcotics or other prescription drugs." Even spine and sports clinics that provide interventional injections for nerve pain caused by conditions like sciatica fall under the bill's purview. The bill potentially affects a large number of patients because, according to the Association of American Physicians and Surgeons (AAPS), "Spine conditions are the fourth leading cause of physician visits."

    The only exception to the prohibition on cash payments is insured patients, who are permitted to pay cash--but only for co-payments or deductibles. However, the bill perversely stipulates that only uninsured patients are permitted to use credit, a credit card, a check, or a draft--but of course not cash--to purchase pain treatments. Insured patients must depend on their insurance company to pay for their treatments. As Dr Jane Orient, executive director of AAPS points out, the bill precludes two groups from freely using there own income to purchase relief from potentially agonizing pain: 1. insured patients whose insurance companies deny their claims; and 2. uninsured persons of limited means who do not have a checking account or credit card.


    https://mises.org/blog/war-cash-grows-more-painful
    "The Patriarch"

  22. #19
    The NWO plan can not be completed without banning cash transactions. Cash represents non-commercial transactions between a buyer and seller, while all electronic transactions are commercial transactions.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  23. #20
    my biggest bar came in the mail today.

    I have a few 10's but I decided to get a 25 Troy ounce bar. (better price)
    I really like it! (stacking is addictive)
    it is also the ONLY way to "save Money" in my opinion.

    I also got a .308 caliber silver bullet.
    no more worries about werewolves or vampires for me!
    "If you can't explain it simply, you don't understand it well enough." - Albert Einstein

    "for I have sworn upon the altar of god eternal hostility against every form of tyranny over the mind of man. - Thomas Jefferson.



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