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We are being softened-up to bend over and take it up the…

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Kiwithrottlejockey
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« on: February 22, 2016, 11:28:34 am »


from the HERALD on SUNDAY....

Farewell to the folding stuff

By BERNARD HICKEY | 5:30AM - Sunday, February 07, 2016

Banks are planning for a future where all transactions are virtual. — Photo: NZME.
Banks are planning for a future where all transactions are virtual. — Photo: NZME.

IT IS now easier than ever to imagine a New Zealand without notes and coins — and not just for the convenience factor.

A cashless society could help combat crime and tax avoidance by making it much harder to trade illegally and in an untraced way.

It would avoid the problem of cash hoarding if interest rates were ever cut to zero percent, or even went into negatives. And a move to a digital currency could also allow us to do without banks for transactions and save a lot of money in processing and conversion fees.

So why don't we do it? Now that most people have smart phones and almost all retailers are connected to a payments network, it would seem a simple step to remove cash from the system.

After all, many of us use Eftpos and contactless Visa and Master cards to pay for things. Why not switch completely and remove the cost and danger of storing, transporting and handling cash?

Yet it's proving harder than many thought, and it's not just a New Zealand problem.

Despite all the gadgets and terminals, there is more cash in circulation than ever. The Reserve Bank reports that as of March last year, $4.96 billion of notes and coins was sitting in wallets and vaults and under mattresses. That's up 61.6 percent from the $3.07b in circulation just 10 years earlier.

A lot of money was withdrawn from ATMs by worried savers during the Global Financial Crisis and has never been redeposited.

Almost $200 million was also distributed in Christchurch in the aftermath of the earthquakes to help Cantabrians get by when shops couldn't connect or use their regular payment systems.

But even with these special events, the amount of cash in the economy has been growing at surprisingly strong rates and faster than the economy as a whole.

A large part of the rise is due to STDs — sex, tax and drugs. The secret economy loves cash and it's no surprise IRD is having to launch regular crackdowns on cash jobs to ensure everyone is paying GST, PAYE and company tax.

But something else is going on, too. Extremely low inflation and not so much faith in banks, particularly in the Northern Hemisphere, has encouraged people to hold their savings in cash because their real value is not being eroded much.

The holy grail would be a type of bitcoin system that allows people to pay each other using the banking and credit card systems and avoid transaction and conversion fees that clip the ticket.

One idea suggested by the Bank of England last year was the creation of a digital currency by the central bank. It would use the “blockchain” technology at the centre of the bitcoin system, but that would be reliable and backed by the state.

Everyone would have a central bank account and simply transfer money between each other without having to pay fees.

Such a system would allow much cheaper transactions and let the central bank impose negative interest rates, once it had got rid of cash. It would be easier to police crime and reduce tax avoidance.

It all sounds like a radical idea, but it's one central banks and policy-makers worldwide are considering in other countries as they try to encourage spending, investment and efficiency in a world of deflation, crime and tax avoidance.


http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11585783
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Kiwithrottlejockey
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« Reply #1 on: February 22, 2016, 11:28:55 am »


from the SUNDAY STAR-TIMES....

The dirty secret of NZ's $100 bills

Big banknotes are being used as currency for criminals
and should be scrapped, a top banker says.


By ROB STOCK | 5:00AM - Sunday, 21 February 2016

Banknote use should be falling out of fashion, but cash in hand is actually on the rise. — Picture: Reserve Bank of New Zealand.
Banknote use should be falling out of fashion, but cash in hand is actually on the rise.
 — Picture: Reserve Bank of New Zealand.


A TOP BANKER has called for notes such as Kiwi one hundred dollar bills to be scrapped because he believes they are being used as a currency for criminals.

Peter Sands, the former head of Standard Chartered Bank, said a global ban on high denomination notes would help crack down on fraud.

The $100 banknote has been growing in popularity in New Zealand. Figures show the value of them in the hands of the public rose 184 percent from $648m to $1.84b between the years 2000 and 2015.

Yet few of the bills are seen in public, argues Sands, who has written about the phenomenon in an academic paper Making it Harder for the Bad Guys: The Case for Eliminating High Denomination Notes.

Sands said: “High denomination notes are arguably an anachronism in a modern economy given the availability and effectiveness of electronic payments alternatives. They play little role in the functioning of the legitimate economy, yet a crucial role in the underground economy.”

“The irony is that they are provided to criminals by the state.”

Some action has already been taken overseas. Canada and Singapore have canned a high-denomination note apiece. In 2010, the British estimated 90 percent of 500 Euro notes were used by criminals, and British banks were banned from issuing them.

Banknote use should be falling out of fashion, as small purchases are increasingly done electronically. But cash in the hands of the public has been increasing rapidly. This is known as the Banknote Paradox.

Internationally, only a tiny fraction of high-denomination notes are used for legitimate purposes, Sands believes. Legitimate uses include hoarding, providing emergency money while overseas, and as an alternative to local currencies by people who have lost confidence in their nation's money.


A Customs drug sniffer dog in action at Auckland Airport where officers seized $3.7m last year. — Photograph: John Selkirk/Faifax NZ.
A Customs drug sniffer dog in action at Auckland Airport where officers seized $3.7m last year.
 — Photograph: John Selkirk/Faifax NZ.


Paymark NZ, in a presentation to bankers in 2014, acknowledged cash use was prevalent in the “STD” sectors of sex, tax evasion and drugs.

Virginia Le Bas, national manager for organised crime at the New Zealand Police said high denomination notes did feature in seizures made by police from criminals. “We see more $100s and $50s than we used to,” she said, but added the $20 note was still very common too.

But Sands reckons there are darker answers than tax evasion. “In most advanced economies, ordinary people do not typically use high denomination notes. They are used by criminals, and to a limited extent, by the wealthy,” he said.

Sand's paper is peppered with disquieting facts.

Luxembourg issues around 15 percent of all €500 notes, which are known as “Bin Ladens” by criminals. Seven in ten of the €500 notes issued in Germany between 2002-2009 were taken overseas. Half of US currency circulates outside the US. And for every US$100 note in the world, there is just $US28 of other denominations of US banknote.

Terrorism, the drugs trade and people-smuggling are all big users of high-denomination notes, Sands wrote. They are the currency of corrupt officials.

Cash is easy to get over borders in high denomination banknotes. US$1million in €500 notes weighs just 2.2kg, compared to 22kg in €50 notes.

New Zealand Customs uses cash sniffer dogs to find large wodges of cash being taken in and out of the country without being declared.

In the 2014 to 2015 year, it seized $3.7m — an undisclosed portion of which was New Zealand currency.


__________________________________________________________________________

Related material:

 • Reaction mixed to new NZ banknotes

 • Making it Harder for the Bad Guys: The Case for Eliminating High Denomination Notes (1.11MB PDF document)


http://www.stuff.co.nz/sunday-star-times/business/money/77045766
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nitpicker1
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« Reply #2 on: February 22, 2016, 12:51:45 pm »

Re orig mess:

FAREWELL TO THE FOLDING STUFF

                                  .       HELLO NEGATIVE GEARING

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Im2Sexy4MyPants
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« Reply #3 on: February 24, 2016, 02:40:12 am »


It's a good way to put all the criminals under pressure forcing them to quickly dig up and off load an launder all their buried booty in a hurry.


And then the worst criminals who are the bankers and the government will have us all at their mercy...

The truth is the big banks want the world to go cashless so they can rip us off with more negative interest and other dreamed up scams that we cannot escape from.
It's because the world money system is bankrupt and they are running out of ways to steal from us so they are inventing new ones...

I guess we could always start using bitcoins and go back to using silver & gold to cut the banks out completely and start our own trading system.


Legend Issues Dire Warning About A Terrifying Future And The Trigger For Total Global Collapse



On the heels of seven weeks of chaotic trading in markets, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, just issued a dire warning about a terrifying future and the trigger for total global collapse.

http://kingworldnews.com/legend-issues-dire-warning-about-a-terrifying-future-and-the-trigger-for-total-global-collapse/



New York Times Editorial Board Endorses Economic Fascism – Supports Banning the $100 Bill



I cannot overstate the significance of today’s New York Times editorial board endorsement of the elitist scheme to ban large denomination cash from public circulation. This is the latest example of the editorial board putting the interests of the establishment ahead of the citizenry, while at the same time employing a nonsensical argument to support its position which channels emotion rather than logic.

This public support for a de facto cash ban by the New York Times must not be viewed in a vacuum. It should be read in conjunction with its recent absurd endorsement of Hillary Clinton in the Democratic primary. I highlighted that previously published piece of fiction in the post, A Detailed Look at The New York Times’ Embarrassing, Deceitful and Illogical Endorsement of Hillary Clinton. Here are a few excerpts:

The New York Times’ endorsement of Hillary Clinton against Bernie Sanders in the Democratic primary consists of an unreadable, illogical piece of fiction. In this post, I will critique the paper’s position in detail, but first I want to take a step back and explain to people what I think is going on in the bigger picture.

In its endorsement of Hillary, the New York Times editorial board did such a sloppy job I can’t help but think it may have done permanent damage to its brand. Upon reading it, my initial conclusion was that the editorial board was either suffering from Stockholm syndrome or merely concerned about losing advertising revenues should they endorse Sanders. Then I thought some more and I realized my initial conclusions were wrong. Something else is going on here, something far more subtle, subconscious and illuminating. The New York Times is defending the establishment candidate simply because the New York Times is the establishment.


One of the biggest trends of the post financial crisis period has been a plunge in the American public’s perception of the country’s powerful institutions. The establishment often admits this reality with a mixture of bewilderment and erroneous conclusions, ultimately settling on the idea people are upset because “Washington can’t get anything done.” However, nothing could be further from the truth. When it comes to corruption and serving big monied interests, both Congress and the President are very, very good at getting things done. Yes it’s true Congress doesn’t get anything done on behalf of the people, but this is no accident. The government doesn’t work for the people.

With its dishonest and shifty endorsement of Hillary Clinton, I believe the New York Times has finally come out of the closet as an unabashed gatekeeper of the status quo. I suppose this makes sense since the paper has become the ultimate status quo journalistic publication. The sad truth is the publication has been living on borrowed time and a borrowed reputation for a long time. Long on prestige, it remains very short on substance when it comes to fighting difficult battles in the public interest. Content with its position of power and influence within the current paradigm, the paper doesn’t want to rock the boat. What the New York Times is actually telling its readers with the Hillary Clinton endorsement is that it likes things just the way they are, and will fight hard to keep them that way. It is as much a part of the American establishment as any government institution.

What we learned from that piece was that the New York Times was frantically working to protect and support the political establishment from an insurgent Sanders surge. Similarly, what we see in today’s article is the same editorial board scrambling to protect the financial and economic establishment. So why do I come to such a conclusion? Let me explain.

Central banks understand that everything they’ve done so far has failed, so they are becoming increasingly desperate. Part of this desperation has translated into a negative interest rate policy (NIRP) in various parts of the world. The only problem with aggressively implementing NIRP is that citizens can pull their money out of the banking system in response to being charged a percentage of deposits by the criminal, bailed out banks. If this happens, negative interest rates can’t “work” (not that they would boost the economy anyway).

The above is obvious. The correlation between central banks launching a negative interest rate policy and global “leaders” suddenly becoming concerned about criminals using cash is no coincidence. The New York Times editorial board cannot be so financially illiterate that they don’t know this. As such, the only logical conclusion one can reach is the editorial board is intentionally attempting to lead its hapless readers off a cliff into monetary fascism.

So let’s get into. Here are a few excerpts from the clownishly stupid piece of propaganda titled, Getting Rid of Big Currency Notes Could Help Fight Crime:

Few Europeans use the 500-euro note, and most Americans rarely encounter the $100 bill. Yet hundreds of millions of these notes are in circulation around the world, where they are often used by drug cartels, corrupt politicians, terrorists and tax cheats to evade law enforcement. That’s why officials in Europe and elsewhere are proposing to end the printing of high-denomination bills.

Wait, the New York Times editorial board is suddenly worried about corrupt politicians? Didn’t it just endorse Hillary Clinton?

Getting rid of big bills will make it harder for criminals to do business and make it easier for law enforcement to detect illicit activity. Consider this: a stack of 500-euro notes worth $1 million weighs just five pounds and can be carried in a small bag, whereas a pile of $20 bills worth the same amount would weigh 110 pounds and would be much more difficult to move around, according to a recent paper from Harvard’s John F. Kennedy School of Government.

Brilliant. I suppose we’re supposed to believe that criminals are so stupid they won’t figure out a way around the cash ban when trillions of dollars are at stake. Not to mention the fact that drug cartels and terrorists systematically use the banking system to launder billions and no executives ever go to jail. If anything, any cash ban will merely ensure the banks obtain a total monopoly on criminal business.

Lawrence Summers, the former Treasury secretary and former adviser to President Obama, has argued that the United States should get rid of the $100 bill; about 65 percent of these bills are held outside the country, according to a study published by the Federal Reserve. But that change could be disruptive because the $100 bill is used widely overseas for legitimate purposes, too. And as long as the E.C.B. continues to print 200-euro and 100-euro notes, criminals could switch to those bills. That’s why such efforts should be coordinated internationally.

Really New York Times? Larry Summers? This man’s brain is like an economic plague that the world can’t seem to extricate itself from. Using him to support a cash ban speaks volumes as to where these people are coming from.

On the other hand, he did save the world once, so perhaps he can do it again.

Screen Shot 2016-02-22 at 11.04.24 AM

Now back to the New York Times…

Critics who oppose such changes say the big bills make it easier for people to keep their savings in cash, especially in countries with negative interest rates. Some people also prefer not to conduct transactions electronically because they fear security breaches. But these are relatively minor burdens compared with the potential benefits of reducing criminal activity and tax evasion.

This is the economic version of “you need to trade liberty for safety,” which has been used by the U.S. security state to trample upon civil liberties since 9/11. Again, the fact the New York Times is suddenly using this argument to ban cash tells you all you need to know about where the editorial board’s allegiance lies, and it’s not with the American people.

The banking system is where the real criminal activity seems to happen, and the fact no bank executives are ever jailed for such offenses proves that the government could care less about cracking down on crime. This is all about shoving the public into a digital financial ghetto.

There is no need for large-denomination currency. Britain’s top bill is the 50-pound note ($72), which has been perfectly sufficient. The United States stopped distributing $500, $1,000, $5,000 and $10,000 bills in 1969. There are now so many ways to pay for things, and eliminating big bills should create few problems.

The New York Times editorial board has once again exposed itself as a dangerous and duplicitous organ of entrenched established interests against the public. It must be exposed.

http://libertyblitzkrieg.com/2016/02/22/new-york-times-editorial-board-endorses-economic-fascism-supports-banning-the-100-bill/#more-31680
« Last Edit: February 24, 2016, 03:56:25 am by Im2Sexy4MyPants » Report Spam   Logged

Are you sick of the bullshit from the sewer stream media spewed out from the usual Ken and Barby dickless talking point look a likes.

If you want to know what's going on in the real world...
And the many things that will personally effect you.
Go to
http://www.infowars.com/

AND WAKE THE F_ _K UP

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