This week, BOOM is continuing a plea to use cash as much as possible because you will lose it if you don’t use it. The Totalitarian Globalists are coming for your money. Cash is YOUR Sovereign Money and carries the support of all national governments as representatives of The People. It is also a natural buffer against interest-bearing money that originates when a bank loan is created. As a matter of economic principle, physical cash must always be readily available in any economy.
- Totalitarianism was displayed ruthlessly, by almost all governments, during the so-called “CV-19 pandemic”, which is more accurately described as the ‘Covid Fear & Controldemic’
- The Withdrawal of Physical Cash leaves a nation dependent upon its banks, electricity supply, and its connections to the Internet.
These are two critical matters that will determine the future of both Democracy and Freedom, especially regarding financial transactions.
BOOM has already dealt with the threat of totalitarian tendencies that emerged in the so-called “crisis” of CV-19. The fear-based manipulation of entire populations was aimed at achieving compliance with totalitarian government edicts.
The slogan of the day, “We are not safe until we are all safe”,might have been written by George Orwell or, perhaps, Joseph Stalin. In this editorial, BOOM will demonstrate how critical cash is to the success of any nation.
CASH MUST ALWAYS BE AVAILABLE IN ANY ECONOMY AND ITS USE ENCOURAGED. BANKS MUST BE STRONGLY REGULATED AND ACTIVELY OVERSEEN BY GOVERNMENT INSTITUTIONS. BOOM readers will know that BOOM is a strong advocate for the increased use of physical cash in all advanced economies. This is important because cash is originated (created) with no interest cost or bank fees attached.
Cash is Sovereign Money and carries the support of all national governments as representatives of The People. It is also a natural buffer against interest-bearing money that originates when a bank loan is created. BOOM calls this Credit Money. Credit Money resides on bank ledgers as a digital record, thus, it has been digital money for many decades.
Credit Money is now 97-8% of fresh new money at origination (creation) in most advanced economies. This means that physical cash is now only 2-3% of fresh, new money being circulated. In the 1950s, the ratio was closer to 50:50 and resulted in more stable economies with lower CPI inflation and low but steady economic growth.
Cash must always be issued by the Sovereign of a Nation upon the demand or request of The People and issued by The Peoples’ elected representatives subject to Parliamentary procedure in a Republic. It must be non-interest-bearing and free of all fees. It should be fungible and anonymous.
Suppose physical cash as a national currency is unavailable; then a nation’s money supply will become dependent upon demand (and supply) for bank loans and banking services which also depend upon a reliable and “always on” supply of electricity and Internet connection.
The Australian Senate has been confronted with this issue of Cash availability regarding the arbitrary closure of bank branches in country towns. The people living in these towns have often been deprived of personal banking services but especially, and more importantly, they have been deprived of a source for physical cash. The security and flexibility of cash are of particular benefit in remote areas and during times of crisis, for example, when electricity and Internet services are cut off.
United States Constitution - Article I, Section 8, Clause 5:
ReplyDelete[The Congress shall have Power . . . ] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; . . .
In 1930 a $20 gold piece could by a man a new suit. No mention of paper money, a central bank regulating the value of money and creating fiat money.