By, David Oslin
Woke up this morning. I had things to do. I had stuff to smack around. I write things about stuff and stuff about things. I have a routine. It doesn’t get disrupted much. No matter who I listen to or what happens at work I have a routine I stick to. So, when I decide to break that routine it usually should be something rather profound.
When the Opening Monologue of your favorite show tells you about what is nothing short of a crisis in Australia that will up end a few things. There has been a quiet push for the ending of Cash. Currency as we know it. That make no mistake folks is a dangerous thing. And while there is no way to know now how Mrs. Clinton would have responded to this situation there is a growing problem that needs to be addressed.
It is Fiscal. Monetary. While I try to make sure what I write is not boring this should rightly scare you. Cash is the lifeblood of our society. With it, you don’t have three hundred records of what you bought at the grocery store. What a lot of us forgot and what a lot of us never even knew, is that the US was once on the gold standard. As a matter of fact, it wasn’t all that long ago in historic terms. It ended during the Presidency of Nixon. Where we decided the full faith and credit of the United States being the Economic and world Juggernaut it was at the time would be enough.
Even the enemies of the United States at this point agreed. Many countries including China placed their gold in the US and the national debt skyrocketed as spending habits changed both personal and at the governmental levels. While many for a very long time called for sanity the national debt has spiraled out of control since this point to an astounding twenty trillion dollars.
‘Full Faith and Credit’ Something to remember in the days ahead. What exactly does this mean? Effectively. We pay our damn debts. Eventually. Now I’m not suggesting paying this off in a day or a year. But we must do something about this. And as things get worse…well. I’ll leave the theorizing to others. Because in all honesty, I have enough dark things to think about.
Which brings us to something almost everyone missed. Something that is not only happening where I am talking about but taking place in other areas. Without Cash, the government can track and STOP you from spending money. It is not about IF. But when. In India, all but the smallest denomination of bills has been removed from circulation for ‘fighting crime’ saying criminals are using these notes for illegal transactions…Sound familiar? If you’re smart enough to be reading this, then you’ve got a fair idea of what’s already happening across the globe. Even here. It’s been suggested that the 50 and 100 dollar bills end up with the same fate.
This same thing is beginning in Australia. As Citibank AU is about to stop accepting cash. This news broke on November 9th…we were too wrapped up in election results to notice. But the war on Cash and how you spend YOUR money is continuing and right now. We the consumer, we are losing. Because every bubble breaks, every crisis is an opportunity for someone. And the removal of Cash allows so much control at the governmental level you either succumb to it, or the economy is flat out gone. Citibank has been joined by UBS Another massive bank.
Monetary policy will play a huge role going forward. The choice for Treasury secretary will be critical. But so, will a policy Donald Trump ran on during this campaign. Not only did he look to negotiate new conditions of treaties, but he wanted to renegotiate our loans. Something that got next to no attention outside of the financial channels at the time. Renegotiating our loans is something that nullifies ‘Full Faith and Credit’. If that happened. The dollar would devalue overnight. You haven’t seen anything like this in your lives. 95% of this country has no CLUE what that looks like. And the 5% who do, did not experience to the extent other countries did in their life time.
The US Dollar’s value would be less than toilet paper. In a literal sense. And if you look at the past 8 years…do you trust the banks? I personally do not and I’ve been looking for a way to get out of them for some time. I haven’t had that much luck yet. But I can’t keep the cash stuffed under the mattress when everyone wants a Check or online transaction. Banks are insolvent whether they want to admit it or not. They’ve reconstructed their rules to make sure YOU get the haircut the next time we have an incident like 2008 the moment the money is deposited at a bank it is Their Money after all.
I like being the Wide-Angle Lens. Other people are beginning to see the Trend as well and I won’t be and I am not the only person talking about this. But if you think the recent decision by Jamie Dimon to NOT become the Secretary of the Treasury is insignificant. Think again. If anyone can see what is coming, he can. And he does not want the stigma of the consequences of his actions on him. Keep your eyes open, this story won’t be going away anytime soon.