By Lowell Ponte, Special for USDR
American life, liberty and wealth are at risk today as never before according “THE SECRET WAR: What the ‘War on Cash’ Is Doing To Your Income, Savings, Life and Liberty, And How To Survive It,” a new White Paper by Craig R. Smith and Lowell Ponte.
Citizens are being pushed by Big government and Big banks to voluntarily abandon cash for the greater ‘convenience’ of a cashless future.
Smith and Ponte predict, “Cash will eventually be outlawed or restricted, with capital controls already coming down hard in Sweden, Denmark, France, Greece, and many other places.”
America’s central bank, The Federal Reserve, now finds itself painted into a corner, having used up its bag of monetary tricks.
“Like an addictive drug, its fixes of money no longer stimulate. Its debt manipulations such as Quantitative Easing no longer work,” write Smith and Ponte, authors of DON’T BANK ON IT!
In THE SECRET WAR Smith and Ponte reveal, “Our government has also made it more risky to carry cash because of their growing use of asset forfeiture laws.”
“A larger, logical government motive in going after cash is tax evasion. A 2011 study by Edgar Feige of the University of Wisconsin-Madison and Richard Cebula of Jacksonville University in Florida concluded that between 18 and 19 percent of total reportable income in the United States is effectively off the books, hidden from the government,” Smith and Ponte wrote in their 2012 book The Great Debasement: The 100-Year Dying of the Dollar and How to Get America’s Money Back.
“Operation Choke Point” targets 30 types of business it associates with “high-risk” banking. The government’s message: “Cash is risky” and makes you a target of law enforcement officers.
“Cash can be killed or made impractical in other ways,” write Smith and Ponte, “such as currency inflation and a new ‘Carry Tax’ on cash that would serve as a powerful deterrent to hoarding currency.”
“The Federal Reserve compounds the punishment of savers with their policy of ‘financial repression,’ which guarantees savers in America today lose part of the value of their savings every day they keep cash in the bank.”
In THE SECRET WAR Smith and Ponte convincingly argue, “Americans are being systematically herded into higher risk investments full of moral hazard – especially the stock market.”
The “War on Cash” is also an ideological war, according to Smith and Ponte.” A despotic attack by the ruling elites on the personal privacy and liberties of their citizens.” They conclude, “In a cashless future, it will be harder for an ordinary petty thief to rob you, but much easier for the government to rob you.”
Learn how to protect your hard earned savings while you can by taking a few simple steps explained in THE SECRET WAR.