Kenneth Rogoff is one of the most influential economists in America. He’s a former International Monetary Fund economist and served on the Federal Reserve’s Board of Governors. When he speaks, the Deep State listens…
Rogoff is a major proponent of a “less-cash” society. He wants to get rid of the $100, $50, and even $20 bills. Rogoff says removing these bills would make it hard for criminals and terrorists to do business. But the Palm Beach Letter’s Teeka Tiwari says his real endgame is something more nefarious…
In today’s must-see 3-Minute Market Minder, “Big T” says a cashless society would allow the government to tax your savings at will… But there are some ways to escape a potential “stealth savings tax”…
(Reeves’ Note: If you have even a suspicion that that Teeka is right about the War on Cash, then you must own at least a small amount of bitcoin. Current Palm Beach Letter subscribers already have access to Teeka’s detailed cryptocurrency buying guides.
But if you want complete access to his “micro-cap” cryptocurrency recommendations—similar to buying into bitcoin when it was $4 instead of $750—click here.
One of these little known cryptocurrencies rocketed 88% in the first 10 days after he recommended it to Palm Beach Confidential subscribers… and there’s far more upside ahead in cryptos as the War on Cash marches over the earth.)
https://youtu.be/SZS206zgz2o&w=650
Transcript
Hello, friends, and welcome to Big T’s 3-Minute Market Minder. Today, I want to tell you some more about how I think the War on Cash is going to show up here in the United States.
I don’t think we’re going to see something quite as sudden as what we saw in India, where they just banned the largest two notes and gave people basically a two-week notice. They did something similar to this down in South America, in Venezuela—they gave folks… I think it was 72 hours’ notice before they banned the 100-bolivar note, which is causing absolute chaos down there.
I don’t think we’re going to see something like that. What I think we’ll see is more like what this story in Bloomberg is talking about. And I say Bloomberg quite clearly to show you that this isn’t some out-there type of online forum talking about the potential of the War on Cash. This is a world-recognized, multibillion-dollar multimedia operation that is taking this story very, very seriously.
They’re talking about a book that’s been written by Ken Rogoff, who is an incredibly influential economist here in the United States. This man talks about [the fact that] $100 bills are essentially the haven for drug lords and criminals, which, clearly, they’re not. Rogoff is proposing that the United States moves to a “less-cash” society, rather than a completely cashless society.
But it all leads us to the same place. Rogoff is putting forward an idea that we really should have nothing larger than a $10 bill, which is absolutely ridiculous. He wants to get rid of the $100, the $50, and the $20 bill. And again, he’s trying to hold the whole country hostage to the idea of preventing criminals from hiding cash.
But if you go further into reading about Rogoff, what his real endgame is, his endgame is the elimination of cash so central banks can impose negative interest rates. The reason why central banks can’t impose negative interest rates now (or at least not do it easily) is that we’d just simply all go to the bank, withdraw all our cash, and put it in a safe in our house.
Rogoff is thoroughly convinced that negative interest rates are a good idea and that we should get rid of cash in order to help the bankers levy, basically, this hidden tax against all of us.
And of course, the other upside is that the U.S. government, in a cashless society, gets to tax every single transaction. From paying the guy [that mows your lawn to] the local kid that you pay to shovel the snow. The government wants a piece of every single part of those transactions.
So, friends, the time to prepare for the War on Cash is now. Not in the future of now. And one of the reasons why is that Rogoff is highly regarded among the establishment. There’s even talk of adding him to the Fed, as a voting member of the Fed. Ben Bernanke supports him, Larry Summers supports him, [and] Citigroup Chief Economist Willem Buiter has also endorsed Rogoff’s ideas.
So, friends, again, the time to prepare is now. You should have a little bit of a cash hoard, I think it’s incredibly important. You should have some precious metals. You should definitely have a little bit of bitcoin.
Because there will be a day, here in the United States, where you won’t be able to lay your hands on a $100 bill… or a $50 bill… or a $20 bill. And while they might not outright ban them, they might do what they’re doing in Europe right now with the 500-euro note, and they’re just not printing them anymore. It’s the same thing as a ban.
So, friends, prepare. Because a cashless society is in our future. All right, friends, that is enough out of me. I will catch up with you in the next video.
And I want you to always remember: Let the Game Come to You!