As the central banks lose control and begin to implement NIRP they need to ban cash because NIRP is ineffective if folks take their money out of the banks and stuff it in their mattress. In addition, if cash is eliminated greedy over indebted governments can extract more from the citizenry via electronic tracking and taxing. Essentially it eliminates the black market. The powers that be have floated this idea and I have no doubt it will be implemented.
Visa has agreed to purchase Visa Europe at what looks like an expensive price but if you assume that the ECB eliminates cash in the next 2 years the purchase is a steal. Do the math and you will be stunned at the growth rate if the ECB applies the cashless policy. Currently 60-80% of all transactions in Europe are cash based. This is essentially a play on government tyranny and central bank policy failure. Every Large Cap Growth manager must own this stock and the stock is a great offset to shorts for Hedge Funds in the coming bear market. I love this stock and this theme!
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Blue long something.
Fuck it .I’m going short.
Bbbbbbbuuuutt my local farmer’s market! I know you’re talking about Europe but I tell my farmers market folks in my small town in PA to take credit. I’d spend all my produce purchases there if I could use plastic.
I always use cash. Other than online transactions, of course.
Problem is the NWO will nationalize visa and take them over too. Kaput, no more.
2 post in one day? Bottom!
freebie! is back,
more magic! the lows are not in. you are my bear market good luck coin.
nice call on the Visa and NIRP. heading to one govt and one ring to rule them all
ECB is my area of expertise.
They will never ban cash. Lampposts would beckon for the board if they tried it.
But they have an ace up their sleeve, have had it since 1997.
Trillions of *heavy* QE into the only asset that can rise to any price it likes, without affecting humanity adversely.
as it stands now money is power and anyone still theoretically has the ability to collect it as they please (our society has tons of barriers to entry to acquiring wealth though)……by eliminating cash the kabal is essentially taking control of all power and then hands it out to whom they deem worthy or who helps their agenda.
Agree the war on cash and NIRP is the direction. It seems the US is lagging in this area, behind Europe where I’ve heard cell phone & card payments are even more popular.
This presents a timing dilemma. They will have to eliminate cash before they do an i-911 to usher in the ready to be signed i-Patriot Act. (aka overt capital controls & elimination of any privacy left, if any)
Implementation will be difficult. Hmmm, could the good friends we’ve made around the world Iran, Russia, China,…do a few mini financial911’s before cash has been minimized to disrupt acceptance? That would not help to adoption by the sheeple.
When they rolled out the Euro they set deadlines when the local currencies would become worthless. People had to exchange old cash for new at the banks. Anyone with a bunch in the mattress spent it (on anything of lasting value) rather than (declare it) turn it in directly. I imagine that would provide a nice little 1-time pop to the economy. ‘ not sure what effect it had on pm’s.
So they have to roll out a new dollar. Some call it the domestic dollar, the continental dollar, Jim Willie calls it the scheise? dollar. That is then the perfect time for a devaluation – Venezuela-style. A tall order indeed. I suspect things will become unseamed before that can be pulled off.
How to play it?
How about PYPL?
You’ve lost your mind.
BlueStar
Serious question: How’s Visa doing in Greece, Venezuela?
I don’t think people will tolerate no cash or cash-like
le
no one knows how it will go down; but to think things will remain stable indefinitely – good luck w that.