March 1, 2016

The Deep State is Coming for your Savings

Several countries – such as Denmark, Sweden, and Norway – are already almost totally cashless.

Others, such as France, have banned cash transactions over certain amounts. There are even plans at the highest levels of the Indian government – right now one of the most cash dependent societies in the world – to “disincentivize” using cash.

Meanwhile, establishment economists and commentators – most notably Harvard economists Larry Summers and Kenneth Rogoff, Citibank chief economist Willem Buiter, Andy Haldane at the Bank of England, and Martin Wolf at the Financial Times – have come out in favor of a cashless society.

As we recently reported, Summers tells us it’s “time to kill the $100 bill.”

And according to the New York Times, “Getting Rid of Big Currency Notes Could Help Fight Crime.”

Today, we dig a little deeper into this pile of manure to try to find out what it hides.

And what a surprise! There is the Deep State – malodorous, malevolent, and malignant.

Read complete article at http://dailyreckoning.com/the-deep-state-is-coming-for-your-savings

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