The War On Cash Ratchets Up In Greece With “Soft Cash” Ban
It wasn’t long ago that it came out that the IMF intentionally wanted to create a “credit event” in Greece – part of a larger plan to destabilize Europe.
The country has already fallen victim to the repercussions of the war on cash, but now the grip of capital control is growing tighter.
The Greek Finance Ministry in their infinite wisdom has decided that its nation’s taxpayers will only be granted deductions or tax-allowances if payments are made using a debit or credit card.
This comes after numerous efforts intended to restructure debt. The Greek crisis started in late 2009, as the great recession revealed problems with the Greek economy. These involved difficulties with deficits, especially those that had not been properly accounted for by the Greek government.
The government already tried to reduce debt 12 different times since 2009 without lasting success. Instead, it has generated riots. Additionally, the government has ended up with additional loans from the IMF and other European funders.
There’s plenty of reasons to believe the IMF and other lenders are not giving Greece enough money. They don’t really want Greece to deal with its problems. The same sort of thing is happening elsewhere, including the US.
There’s far too much federal debt for the citizens ever to pay off in the US. The idea in fact is to trap the US in the same kind of debt trap that afflicts European countries and especially Greece.
These are the parameters that the Greek Finance Ministry has determined the taxpayers will have to pay using electronic money in order to be able to receive the “tax allowance”:
- 10% for annual income up to €10,000
- 15% for annual income €10,001- €30,000
- 20% for annual income over €30,001
- income €7,000: expenditure per plastic money must be €700
- income €10,000: expenditure per plastic money must be €1,000
- income €30,000: expenditure per plastic money must be €4,500
- income €60,000 expenditure per plastic money must be €12,000
In the event that a taxpayer is unable or fails to pay the assigned percentage based on these annual income parameters, they will be penalized 22% on the missing difference.
The only exemptions from this mandatory usage of debit and credit cards are residents living in rural and remote areas, senior citizens over the age of 70 or for those people considered to be 80% or more disabled. This is especially bad for a country like Greece where less than 20% of the population is over the age of 65.
To make things even worse, as of December 31st 2016, the maximum limit for cash transactions was lowered from 1,500 to 500 euros, meaning any service or good that costs more than that needs to be paid for with a card.
Clearly, this latest move to force people into using credit or debit cards instead of cash is to ensure that every transaction is taxed. This is one of the main goals of the War on Cash.
The other is funneling everyone into the banking system as interest rates continue to go negative which will grind your average person against the millstone of inflation while charging them for it.
We’ve now seen India and Venezuela move heavily to get rid of cash. And, we’ve seen Europe and the US talk about removing their largest denomination bills as well.
If you end up stuck with your money in a bank account unable to withdraw cash at negative interest rates, you’ll be stuck bleeding money. And thanks to the wonders of negative compound interest, it won’t take very long before you’re broke.
It’s the opposite of the way things in a free market, capitalist, world would be. Much of the capital and therefore wealth that has been created over the centuries, was created through savings and being able to actually earn money from your savings.
That’s all being torn down now in this globalist, communist-style central banking system.
European Commission Threatens Widespread Asset Confiscation
The “war on terror” continues…
The US and the North Atlantic Terrorist Organization (NATO) attacked Libya and Syria and began transporting Muslims to Europe as a means of destabilization. They have also conducted numerous other false flag attacks, such as Charlie Hebdo, by which to further confuse and imprison the local population.
The most recent was the so called “terror attack” which occurred several days before Christmas in Berlin, Germany. A truck was deliberately driven into a crowded market killing 12 people and leaving 48 injured.
Now it reaches a logical conclusion with cash and gold being confiscated in the name of making people “safe”.
There is always an ulterior motive which becomes clearly apparent after such “terror” events.
It is no coincidence that in Europe, the European Commission just made a new capital control proposition.
They want to begin restricting cash and precious metals transfers from outside the EU. Of course, the reason given for this suppression is to shut down avenues such as these which are supposedly used to covertly fund militant attacks across the continent.
Yet to be mentioned is that every terror attack and almost all significant ones are likely staged and done with very little money.
The most recent truck attack in Germany, if official reports from the Fake News are to be believed, encompassed one man with a gun stealing a truck.
If the laughable official story regarding 9/11 is to be believed, it only took 19 guys with box cutters.
But, the European commission has been pressing harder lately to set up a “EU-focused terrorist finance tracking program”. Luckily this has been long opposed by those who campaign for privacy and by some EU lawmakers who recognize that it would allow widespread checks on consumers’ bank transfers.
People entering Europe with more than 10,000 euros are already required to declare their sum to customs officials before entering the union. Now, officials will be permitted to seize cash or precious metals valued under that threshold from those deemed “suspicious”.
Similar proposals were made after the attacks in Paris. French officials claimed they were funded by such cash alternatives as bitcoin and prepaid debit cards… This new deal would require prepaid card holders to present identification prior to making purchases of 150 euros or more.
In spite of the potential unwanted attention one may receive by owning these assets, the demand and consequently the price for bitcoin has skyrocketed. The prospect of these European capital controls being signed into law combined with the already stringent controls existing in China, has made them even more valuable.
Capital restrictions in conjunction with cash wars being waged in India and Venezuela are causing a large number of people to question their government’s willingness to impose similar such restrictions in their home countries. This is likely another contributing factor in bitcoin’s recent price explosion. It is on the cusp of $1,000.
If you recall, in some of our previous articles we mentioned how the Indian government disallowed the use of their two highest denomination bills. According to recent reports the government has also been going door to door in certain areas to confiscate gold – particularly jewelry.
Not long after the Reserve Bank of India and Modi announced their rejection of high denomination rupees, Venezuelan president Maduro followed suit. In fact, he pulled his country’s largest bank note – the 100 Bolivar – from circulation.
These controls which have already been put in place in various countries will soon come to your country as well if these globalists continue to get their way. It is vital that you begin moving your assets into safer mediums such as bitcoin and precious metals – especially in the United States where gold ownership has been outlawed in the not-so-distant past.
The War on Cash Rages On in India and Venezuela
12/16/2016
Imagine you roll out of bed tomorrow to find out that US $100 and $50 bills were outlawed and deemed worthless? Hard as it is to believe, this is now taking place in both Venezuela and India.
It’s a war on cash. And it’s coming soon to your doorstep.
This past Sunday, President Maduro, the tyrannical leader of the socialist paradise of Venezuela gave a three day warning that he was eliminating his country’s 100 bolivar bank note.
The official reasoning for the removal of these bills according to President Maduro’s statement on Venezuelan state-run TV:
“There has been a scam and smuggling of the one hundred bills on the border with Colombia, we have tried the diplomatic way to deal with this problem with Colombia’s government; there are huge mafias.”
The 100 bolivar note was the country’s largest currency denomination left in circulation and was
equivalent in value to $0.02 USD.
That’s down dramatically from $0.10 when I visited Venezuela in March and needed a backpack of money to buy dinner.
12/16/2016
Imagine you roll out of bed tomorrow to find out that US $100 and $50 bills were outlawed and deemed worthless? Hard as it is to believe, this is now taking place in both Venezuela and India.
It’s a war on cash. And it’s coming soon to your doorstep.
This past Sunday, President Maduro, the tyrannical leader of the socialist paradise of Venezuela gave a three day warning that he was eliminating his country’s 100 bolivar bank note.
The official reasoning for the removal of these bills according to President Maduro’s statement on Venezuelan state-run TV:
“There has been a scam and smuggling of the one hundred bills on the border with Colombia, we have tried the diplomatic way to deal with this problem with Colombia’s government; there are huge mafias.”
The 100 bolivar note was the country’s largest currency denomination left in circulation and was equivalent in value to $0.02 USD.
That’s down dramatically from $0.10 when I visited Venezuela in March and needed a backpack of money to buy dinner.
It’s hard to imagine that things can get much worse for the poor people of dystopian Venezuela who in many cases have had to resort to killing feral street animals in order to survive. Yes you read that correctly: Some have had to kill and cook dogs, cats and pigeons because of the limited food supply.
What is going on in Caracas, Venezuela is a modern example of the horrors of hyperinflation and the toll it can take on an unsuspecting population.
According to the IMF’s most recent estimation of the country’s inflation, the rate currently sits around 2000% and continues to grow daily – so fast in fact that restaurant owners have to update the prices on their menus almost daily.
Because of the sheer volume of banknotes which are required for daily purchases, many business owners and shopkeepers no longer determine prices based on the numerical value of the currency they receive. Instead they’ve started using scales to weigh the paper money which people carry around in backpacks instead of wallets.
Meanwhile, the currency situation in India is verging on the hardship in Venezuela. India has now banned 500 and 1000 rupee notes, though the government has also assured the public it would print a 2000 rupee note to replace the smaller denominations. Unfortunately, that has yet to happen and – given India’s track-record – may not happen. Meanwhile, as a result of the currency chaos, poorer people are literally starving.
When it comes to currency, Venezuela is copying India by announcing that it too will issue six higher denomination notes. Thus, both of these countries have eliminated high denomination currency notes under the guise of “fighting crime” and both have promised higher valued notes in the future to fix the problems caused by the elimination of their current high valued bills.
The trouble here is that removing bills doesn’t fight crime. At least one recent study shows countries with the largest currency denominations actually have the lowest crime rates. Take for instance a country like Japan which is praised for its low crime rates and has a 10,000 yen note worth around $85 as of today.
Switzerland is a prime example of the opposite end of the spectrum because not only does it have a 1,000 Swiss franc note worth roughly $1,000 USD and one of the lowest crime rates in the world, but unlike Venezuela where guns are outlawed and violence is rampant, 1 in 2 Swiss people are gun owners.
It’s not difficult to see the correlation when you look closely at the situations in Venezuela and India – and it’s no coincidence that India also happens to have some of the strictest gun laws in the world.
Unfortunately, the reality is that we are living in an increasingly Orwellian world where nearly everything your average person thinks and believes is false.
Exactly how the financial elites want to keep it – so they can can keep plundering the masses. Don’t let them ransack your savings. Learn how to keep your money outside their game which is the monetary system and fiat paper.
Post can be found on DollarVigilante.com