Denmark Preparing to be the First to Eliminate Cash
Denmark is not part of the euro; they have their own currency, the krone. So far, they appear likely to become the first country to abolish cash. The Danish government is currently pushing to free some stores, restaurants, and petrol stations from accepting cash payments as Britain was testing last year in Manchester. The Danish government is currently are proposing to scrap cash transactions entirely as part of a package of cost-saving measures introduced ahead of the Danish election in September.
The Danish krone peaked against the dollar in 2008, and the major low for the krone (high in the dollar) took place in 1985 showing an overall rally of 36 years. Denmark is certainly poised to take that step, for behind the curtain this is really a measure to secure taxes and protect the banks from complete collapse preventing bank runs.
This appears to be the big issue that is likely to unfold with the ECM turning point at the end of September 2015. There will likely be a major capital disturbance post-2015.75 because unless ALL nations abolished cash simultaneously, there will still be the likelihood of capital flight from such nations running to those who have not abandoned cash.
We stand on the verge of Economic Totalitarianism that will lead to the total control of money by the state. No one will be able to buy or sell without government approval. The USA has already provided for the revocation of a passport if you owe the government more than $50,000. Passports in Rome were invented not to travel between nations, but to be able to travel to prove you did not owe money to the state and hence were free to travel. History simply always repeats – only the names change.
The Nationalization of Banks?
Mayer Amschel Rothschild, founder of the Bank of Rothschild, is said to have commented that “Let me issue and control a nation’s money and I care not who writes the laws”. That is very nice and quaint, but times have changed. In those days money was coin. What the Rothschilds really controlled was not so much money, but debt. They were the lenders to the Princes of Europe. They funded wars for profit.
Moving toward electronic money brings the risk of nationalization of banks. If government wakes up and stop the borrowing, then the banks lose their power over debt. Even in the Middle East, banks are telling government to issue bonds even when they do not need to borrow. This is to expand the power of banks, not to do anything beneficial for society.
If we continue down this road of economic implosion, then the socialists will demand government seizes all control just as Gordon Brown is promising in Britain. Despite the fact there is no precedent for anyone to eliminate the business cycle, Brown’s pronouncement will be as always, government will save the day when they have routinely destroyed society throughout history with their greed and corruption. The socialists just hate anyone who has more than they do and it is more about robbing other people than learning how to really manage society.
The socialist will argue to nationalize all banks and the banks will end up being their own worst enemy for all they care about is profit on the next transaction. It would be very nice to split the world and say all those who are socialist go live there and those of us who do not desire to be your economic slave or believe that the Ten Commandments prohibit socialism outlawing coveting their neighbor’s goods, should equally be allowed to leave. After all, that is why people fled Europe and traveled to America for it was the freedom and land of opportunity. The socialists have destroyed America and turned it into the land we once fled.
No one has a right to suppress the other for that is what makes war. This trend against banking will lead to the nationalization of banks for the debt is now consuming nations and compelling them to act ruthlessly and tyrants. They will now move to control all accounts and nobody will be able to buy or sell anything without government approval.
Who Really Has the Power Today?
QUESTION:
Dear Mr. Martin Armstrong:
I hope you are doing well and congratulations for your successful European tour. Based on your experience, Do you believe that all the wealth of the Rothschilds and Rockefellers, is hidden in trusts around the world to avoid paying taxes or was lost through the 20th century?.
I look forward to hearing from you as soon as possible.
Sincerely,
JE
ANSWER: That is just a conspiracy theory, which is great because it diverts people from who is really in power now. Families and corporations rise and fall just like governments. I am sure they kept conspiracy theories about the Medici going for a hundred years past their prime as well. Just look at who are the three biggest contributors to presidential runs: Goldman Sachs, J.P.Morgan Chase, and Citibank. You do not see the Rothschilds of Rockefellers ever making the grade these days.
Watch the film “Aviator” about Howard Hughes. He was one of the richest men of his day. He started TWA airlines and his competitor was Pan Am. Neither airline survived into today.No matter who they are, they always rise and fall. RCA was the biggest there was, and then fell to become a minor subsidiary of GE.
Harping about the Rothschilds and Rockefellers diverts people from seeing who is really playing the game right now.
How to Read the Forecast Array
The top line is the composite of all 72 models. You can see clearly that there is a choppy but declining trend into May 2015. From May onward, there would be a shift in trend. This is what the top line was showing. The top line is always the most important for it is the sum of everything. Directional changes tend to be very good. This also reflected a very CHOPPY trend from January into May. Note that things should begin to become more volatile post-May 2015.
In stocks, it was the same thing. I stated many times, there should be no breakout or crash before May. The U.S. share markets would just churn sideways. Turning points are the highest bar and the lowest bar. This is the only way to forecast markets, for it is not my opinion of what I think should happen. There are way too many markets for me to keep track of personally. It takes a computer to see the world continually. Once you become familiar with how to read the arrays, then it really does not depend upon my personal opinion.
Here is the Dow so far for the year in dollars and the euro. Everything is connected; the rise in the dollar would prevent any crash, as foreign capital would be buying based upon the currency. Understand that this is NOT my opinion of what I would like to see or anything of the sort. This is looking at the world and comprehending that everything is connected, so you cannot have anything out of place. I wrote on January 31st about the Dow Jones: “Nonetheless, the oscillators are also turning negative. We still see a correction and basing into May. Keep in mind, that it is unlikely we will see a major crash for foreign capital will be buying the dips.”
This not about me being personally right or wrong; this is about pulling back the curtain and observing how something is functioning. NOBODY can forecast anything on a consistent basis from the perspective of personal opinion. That is just not possible. So you either want to learn how the world really functions, or you want to remain in the stone age throwing spears and trying to prove that nobody can predict when the sun will rise tomorrow based upon history.
Original Version of the Dog Joke
Martin,
The joke originated as follows:
A reporter approaches a Russian, a North Korean, a Saudi, and a native New Yorker and asks, “Excuse me gentlemen, what is your opinion of the current meat shortage?”
Russian: “What is ‘meat’?”
Saudi: “What is ‘shortage’?”
North Korean: “What is ‘opinion’?”
New Yorker: “What is ‘excuse me’?”
Saudi: “What is ‘shortage’?”
North Korean: “What is ‘opinion’?”
New Yorker: “What is ‘excuse me’?”
Enjoy the rest of your weekend.
-DB
Abolishing Cash – New Age of Economic Totalitarianism
Europe is moving full speed ahead to eliminate all cash. Instead of reforming and tackling the economic problems, government always seeks to maintain the same course of thinking that now leads us to the totalitarian approach coming from Brussels. To maintain the euro, they must maintain the banks. However, the bank reserves are debts of all member states. As government becomes insolvent as in Greece, the banking system is undermined. The only way to prevent the banking collapse is to prevent people from withdrawing cash. Hence, we see this trend is surfacing in all the mainstream press to get the people ready for what is coming after 2015.75 – the elimination of cash. We are even starting to see this advocated in parts of Germany. We will not be able to buy or sell anything without government approval. That is where we are going, and it may be the major event that erupts after 2015.75.
The bail-in that took place in Cyprus managed to get away without bloodshed. The people just took it. This has encouraged governments everywhere, since now they know they can safely do the same thing and the people are like sheep – dumb and stupid. Just how much will society take before they say no?