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A cashless world and its consequences

Most people believe they understand why governments and banks seek a cashless society.

However, most of the reasons are wrong.

Starting with the belief that government and central banks want to generate a booming economy by getting digital cash into the hands of the people who need it faster.

These commonly discussed reasons are quickly eliminated by the explanation of Richard Werner, Economist, and international banking expert who believes the reason they want to go cashless is so they can implement negative interest rates.

The shocking part is that the real reason behind the intention to ban cash looks more like George Orwell’s' 1984 novel than our desired progress paradise.

Unfortunately, it's far more diabolical. According to Richard Werner, a cashless society with negative interest rates is a plan to put the small banks out of business and consolidate power with the biggest banks in the world.

And this isn't where the plan ends.

In this video on banning cash, I explain:

  • The usual reasons why you think they want to ban cash
  • The real reason why they want negative interest rates
  • The cashless endgame

Make sure to watch the video above to learn more.

Also, watch the full documentary “The Princes Of The Yen” on youtube. This documentary is based on Richard Werner's book.


The real reason they want to ban your cash

Trust me, you have never heard this before. It is time to sit down and grab a stiff drink.

I'm going to explain this to you in three simple, fast steps. And at the end of the video, I'm going to have you tell me what you think of a cashless society using my official GO scale. More on that later.

We're going to go over the usual reasons you think they want to ban your cash.

First and foremost, negative interest rates. And how this works is the Fed drops rates, let's say 5%, so all the banks who have money reserves with the Fed, they have to pay 5% on that money.

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Of course, the banks don't want to do this so they lend all of that money into the real economy. This boosts consumption, and it decreases savings.

The Fed drops rates, let's say 5%, so all the banks who have money reserves with the Fed, they have to pay 5% on that money.
The Fed drops rates, let's say 5%, so all the banks who have money reserves with the Fed, they have to pay 5% on that money.

None of these people want to lose money because the banks are charging them negative interest rates as well, so they spend and buy new cars, new houses. They don't save a penny.

And according to the Keynesians, of course, this will produce a booming economy, because what is better for society than for you to spend every single dime you earn and not save a penny.

The problem with that as Richard Werner, economist, and international banking expert, has pointed out, the banks actually don't lend the reserves that they have on hold with the Fed.

Richard Werner, economist and international banking expert, has pointed out that the banks actually don't lend the reserves that they have on hold with the Fed.
Richard Werner, economist and international banking expert, has pointed out that the banks actually don't lend the reserves that they have on hold with the Fed.

If they don't lend out these reserves, that means that we can cross off increased lending, increased consumption, and them actually being concerned about the economy. That is off the list.


the government's ability to do bail-ins

A little lesser known component of a cashless society would be the government's ability to do bail-ins.

If there's no cash in the system at all, all of your excess productivity is held in this banking system in the form of digital currency.

There would be no way for you to extract that from the system if Uncle Sam who's got his eye, you can see right here, on your money, wants to come in and grab that money and take it for himself because he is 23 trillion in debt and running trillion-dollar deficits.

The US National Debt is now at 23 trillion and has a running trillion-dollar deficit.
The US National Debt is now at 23 trillion and has a running trillion-dollar deficit.

Although this makes a lot of sense, this isn't the main reason why they want to ban your cash. So we're going to take that one off the list as well.


The real reason they want negative interest rates

If we assume Richard Werner is correct, and obviously he's right here, beard, bald head, and that's banks can't lend reserve. This changes everything. What do I mean by that?

The banks can't take these reserves out into the system. So if the Fed drops interest rates to negative 5%, that becomes a tax that all banks have to pay on these reserves that are stuck at the Fed. That would decrease the amount of reserves in the system.

If there are fewer reserves in the system, that means that there would be fewer loans.

To be clear, the banks aren't lending out the reserves, but the reserves are necessary to back up the deposits that are created by the loans themselves.

In other words, the reserves make the loans possible without the banks actually lending the reserves themselves.

The bottom line is negative interest rates put tremendous pressure on small retail banks, decreases their ability to lend, increases costs through additional regulation.

If it flattens the yield curve, this puts a lot of pressure on their margins and it increases the cost to the consumer.

Because the small retail banks can't make money through traditional lending, they've got a nickel and dime you to death, and this makes them a lot less competitive in the eyes of the consumer.

So why would they want to create this type of environment for the small retail banks?

To answer that further, let's go to an article from Richard Werner himself.

With negative rates, bank's margins will stay low and the financial situation of the banks will stay precarious, and indeed, become ever more precarious.

Article from Richard Werner.
Article from Richard Werner.

Werner talks about the ECB specifically, but you can insert any central bank.

The ECB and the EU have significantly increased regulatory reporting burdens, thus personnel costs, so that many community banks are forced to merge while having to close down many branches.

This has been coupled with the ECB's policy of flattening the yield curve.

As a result, banks that mainly engage in traditional banking, i.e., lending to firms for investment, have come under major pressure, while QE has produced profits for those large financial institutions engaged mainly in financial speculation and its funding.

And I'm sure now, you guys are starting to put the pieces of the puzzle together.

He goes on to say, “The policy of negative interest rates is thus consistent with the agenda to drive small banks out of business and consolidate banking sectors in the industrialized countries, increasing concentration and control in the banking sector.”

I'd also like to point out that Werner believes that the small retail banks are responsible for the productive lending in the real economy.

They're the ones that lend to the small and midsize businesses that increase production, economic growth, lower income inequality, and low inflation.

But if you wipe out the small retail banks, that means all the business goes to the big banks who are really only interested in doing large transactions that financialize the economy and create asset bubbles.

All the business goes to the big banks who are really only interested in doing large transactions if you wipe out the small retail banks.
All the business goes to the big banks who are really only interested in doing large transactions if you wipe out the small retail banks.

Now, it's time to connect all the dots in step number three. So sit down, grab a stiff drink, because this is going to blow your mind.


the cashless end game

Cash is banned, central bankers drop interest rates into negative territory. This puts the squeeze on all those small retail banks, putting most of them out of business.

As a result, the real economy shrinks because small and midsize businesses, the backbone of economic growth, don't have access to funding.

The average people look to the Fed and the government and say, “Oh, please protect us. We can't get ahead in the real economy anymore.”

They say, “No problem. There's a Fed put.” So all of the average Joe's take their resources and put them into the financial economy because now this is the only way that they can get ahead.

So they bet on asset prices, speculation, and timing bubbles.

So as the real economy is decreasing in size, the financial economy is increasing in size exponentially, making all of these bubbles bigger and bigger and bigger. The central banks know this.

At some point in time, it all comes crashing down.

When it does, the big banks go to the central banks and say, “Hey, we need a bailout.

We've got systemic risk.” That's when the central banks look at the big banks and say, “Ah, no. I don't think so.” They let them fail.

The central banks have then wiped out the small banks and the big banks so they are now the only game in town. They have 100% control of the money and the credit.

The central banks have can wipe out the small banks and the big banks which will make them the only game in town. They'll have 100% control of the money and the credit.
The central banks can wipe out the small banks and the big banks which will make them the only game in town. They'll have 100% control of the money and the credit.

If they control the money and the credit, they control you. And to hear Richard Werner explain this in his own words, let's go back to that article.

Here, Werner talks about the bank of England, but you can insert the name of any central bank.

Richard Werner talking about the bank of England.
Richard Werner talking about the bank of England.

By supporting monetary reformers, meaning people who want to ban cash, the bank of England may further increase its own power and accelerate the drive to concentrate the banking system if credit creation was abolished and there was only one true bank left, the bank of England. It would further the project to increase the control and monitoring of the population. With both cash and bank credit alternatives abolished, all transactions, money creation, and allocation of that money would be implemented by the bank of England.

Werner goes on to imagine how the PR departments of the central banks and the mainstream media would spin this.

How one could increase their security and safety with this digital money. What if one loses one's direct debit card?

No doubt, some bright bank of England spark, or else any of the talking heads in the media, will then suggest we should adopt the techniques long practiced with our pets, namely implanting microchips under the skin as our money of the future. Whether this spells progress, readers need to decide for themselves.


Conclusion

So a cashless society, negative interest rates and central banks being the only banks left on the planet, and microchips implanted under your skin.

Using the GO scale or the George Orwell scale. I want to hear what you think. Is this progress, dystopia, or 1984?

George Gammon discusses the George Orwell Scale (GO Scale).
George Gammon discusses the George Orwell Scale (GO Scale).

I'll look forward to reading the comments below.

 

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Cris Rock
Cris Rock
5 months ago

So what happens to usd savings?

Marc Maximilien Authier
Marc Maximilien Authier
2 months ago
Reply to  Cris Rock

Whar savings ? 40% of Americans cant pay an emergency expense of 400$. And what imbeciles and evil politicians did with the stupid criminal terrorist lockdown I am sure that most Americans have now less than zero money at the bank. Just debts. You are truly a nation possesed by evil and imbecility. Idiocracy USA. A bunch of sheep governed by wolves from another country. No its not Russia or China. Its a small shit country in the Middle East. I leave you a clue. JEFFREY EPSTEIN.

Mike Horsman
Mike Horsman
5 months ago

It will be “sold” as “progress”. The outcome will be likely closer to 1984. With all the fear and uncertainty, people are going along with the “progress” believing that our “leaders” have nothing but our best interests in their minds and will make the world a better place as we continue to acquiesce a little bit at a time. Unfortunately this is the mentality that allowed the most sinister political figures to rise to power.

Deano
Deano
5 months ago

Dirty Rotten Sons o’ Bitches!!!

Deano
Deano
5 months ago

It is time for you to get acquainted with Hedera Hashgraph. I listened to a Q&A today and It is my opinion this will eventually supplant all monetary systems as only one aspect of it’s power.

Franco
Franco
5 months ago

A big 10 George …. 1984 here we come!!!

walter t kwiatek
walter t kwiatek
5 months ago

George, thanks for waking up the many people who were clueless about what’s going with the Private Federal Reserve Bank..!! I recommend a book written long ago by a relative of Paul Kruger, Stuart Cloete, entitled, “Against These Three” In it he details the relationship between Paul Kruger, Cecil Rhodes, and a tribal chief, Labunga. Basically, it describes the deep strife between Kruger and Rhodes who, fresh from Oxford Business School, was determined to bring about a new world order in which there were select people who managed the business of the world.. Rhodes was convinced there would be world… Read more »

Olatea.k
Olatea.k
4 months ago

Very informative and it really show why we need to think out of the boxes

Desiree D Effner
Desiree D Effner
4 months ago

I couldn’t find this short vid on your website. Is it only for email? Anyways, thanks. I note many economists suggest block chain as an alternative. IF we can dispose of the central banks. Meantime, stashing cash and stocking up. Most of us patriots, George, will die before we accept the chip. It’s gotten to that point.

1 Huichol1
1 Huichol1
3 months ago

We should all write our Congressmen and Senators and tell them “HELL NO” to a “DIGITAL CURRENCY”!

What we really need is like a new Crypto US Dollar and partially backed by Gold issued by US Treasury and get back control of the US Currency. Right now it’s been hijacked since 1913 by a private Banking entity – NOT the US Government.

You want a life run by Bureaucrats like the Chinese Communist Party does?

Marc Maximilien Authier
Marc Maximilien Authier
2 months ago
Reply to  1 Huichol1

Because they are owned by EPSTEIN and Co.

mike
mike
3 months ago

People are allowing doctors in the CDC, who have never had patients, force them to wear masks, avoid other people, even stay at home. These so-called doctors and some tin horn politicians are forbidding Americans from working, supporting themselves, and feeding their families. And the sheep are complying. So the introduction and acceptance of digital money to the American sheep is just a logical extension of their complicity on the Corona (er Cervesa). Fed Cartel and the families who own it have no worries. 1984 has come and gone (not the date) and the only difference between Big Brother in… Read more »

Last edited 3 months ago by mike
Jim
Jim
3 months ago

1984! That little microchip – the Mark of the Beast.

Marc Maximilien Authier
Marc Maximilien Authier
2 months ago
Reply to  Jim

USA is the head of the BEAST with a certain tribe that I cannot mention the name.

Marc Maximilien Authier
Marc Maximilien Authier
2 months ago

Banning cash is not about economics. Its about obtaining TYRANNY. We are dealing with tyrants and they have a name. BANKERS. The Rothschild and the Rockefeller are behind the banning of cash as it is part of destroying any rights and freedom that we have left. Now imagine if these bastards, yeah bastards, do not like your poitical opinions or you criticize or try to start a movement to arrest them for their numerous crimes. Well now they have total power to cut off your own money with a flip of switch. Its truly worse than even stalinist USSR or… Read more »

Marc Maximilien Authier
Marc Maximilien Authier
2 months ago

A time will come very soon where the People will indeed have to take of the tyrants. Live free or die will not be just a slogan but a reality. It goes way beyond economics. Its about freedom and human rights. Cashless society is truly monetary gulag for the 99,9 % of us. The 0,1% are the tyrants. They are easy to spot. They are few. The DAVOS mafia. The Bilderburger mafia. The CFR mafia. It will take a lot of work to get rid of these tyrants but a time will come it will be either like like a… Read more »

Marc Maximilien Authier
Marc Maximilien Authier
2 months ago

A cashless society will be a nightmare worse than Nazi Germany and USSR. It is truly a monetary concentration camp. Now imagine how evil it will be. So the bunch of gangsters in power declare you a terrorist, or violating the community rules. They do dissapear you like Google You Tube Facebook do now on their sites and services. So now it is the next step; MONEY. The fascists will be able to cut offf your access to your electronic money with a click on a computer. Banksters are terrorists and so are US politicians. It is about TOTAL CONTROL… Read more »

VICTOR SPERANDEO
VICTOR SPERANDEO
1 month ago

GEORGE :FOR YOU TO SHOW THIS VIDEO -YOU HAD TOO MANY DRINKS – THINK WHO OWNS THE US FED -THE BANKS !!!! IT PRIVATE -SO YOUR SAYING THE IDIOT WHO MADE THIS THREE LITTLE PIGS STORY UP IS SAYING THAT THE BANKS WILL ALLOW THEMSELVES TO BE PUT OUT OF BUSINESS TO GIVE THERE GOLGEN GOOSE TO THE GOVT VIA A CENTRAL BANK .???… HAVE ANOTHER DRINK ON ME.