Back in 2008, I began warning of increasing capital controls that we would see in the future, as a component in the decline of Western economies (Western in the broad sense, including Japan, Australia, etc.)
Along the way, it occurred to me that, at some point, governments might collectively attempt to eliminate paper currency in favour of an electronic currency - transferred from party to party solely through licensed banks. Sound farfetched? Well, maybe, but what if the U.S. and EU agreed on an overall plan, then suggested it to other governments? On the face of it, this smacks of conspiracy theory, yet certainly, all governments would benefit from this control and would be likely to get on board. In fact, it might prove to be the only way out of their present economic problems.
So, how would it play out? Here’s roughly how I saw Phase I:
- Link the free movement of cash to terrorism (Create a consciousness that any movement of large sums suggests criminal activity.);
- Establish upper limits on the amount of money that can be moved without reporting to some government investigatory agency;
- Periodically lower those limits;
- Accustom people to making all purchases, however small or large, through a bank card;
- Create a consciousness that the mere possession of cash is suspect, since it’s no longer “necessary”.
Phase II will be the second wave of measures and they will be more draconian than Phase I:
- Create a definitive false flag event that demonstrates how physical cash is the primary means of funding evil acts in the world;
- Declare a date on which paper currency will become illegal (Until that date, it can be deposited into a bank. After that date, it becomes criminal to possess it.);
- Once all cash has been deposited in banks, increase negative interest rates;
- Confiscation of deposits can then be implemented, as desired, by banks (Confiscation of deposits is already legal in Canada, the U.S., and the EU.);
- Confiscate contents of selected safe deposit boxes;
- End “voluntary” taxation. All taxation will, in future, be by direct debit;
- Declare money to be the property of the State that issued it. (The people are allowed to trade in it, but it is not truly theirs. The State therefore can freeze or confiscate the funds in any account, if any crime is “suspected”.).