View Full Version : When/if cash is banned, what will cash be worth?
FlyingHunter
05-24-16, 19:39
Banning cash is infringing on the freedom of citizens on a massive scale. In withdrawing cash, the citizen is bereft of choice for his payments. After all, the state has the monopoly on the production of money. There is no competition on cash. Thus, nobody but the state can satisfy the demand for money by citizens.
If the state bans cash, all transactions must be executed electronically. For the state to see who buys what when and who travels when where is then only a small step away. The citizen thus becomes completely transparent and his financial privacy is being lost. Even the prospect that a citizen can be spied upon at any time is an infringement on his right of freedom.
Cash helps to protect the citizen from an unfettered intrusiveness by the state. If the state increases taxes too much, citizens at least have the option to avoid the tribulation by paying in cash. The knowledge that citizens can do so, makes states hold back a little.
The plan to ban cash - step by step - is a sign of the fundamental ailment of our time: the state is destroying more and more of the freedom of citizens.
So - historically when the government bans or threatens to ban things; prices go up (think prohibition or more recently 30rd mags a few years ago) however cash is a unique commodity and I'm curious what it's value will do if we see European style constrictions and ultimately banned. Will my $100 be worth $1 or $1000?
Outlander Systems
05-24-16, 19:54
< $1
Look at Venezuela, for instance.
I imagine their currency is worth less than toilet paper.
Likely your $100 bill will be worth toilet paper, the $100 you spend on silver,lead or food today might be worth $1,000 or more.
FromMyColdDeadHand
05-24-16, 19:58
< $1
Look at Venezuela, for instance.
I imagine their currency is worth less than toilet paper.
Actually, that sets a lower limit of the value of cash, adjusting for the suitability of purpose....
Pre Ban Money?
Man....All those people who smoked dope and dropped acid while pregnant in the 60s have really come back to haunt us.
Digital_Damage
05-24-16, 20:06
what is this bullshit about again?
what is this bullshit about again?
The Mark of the Beast. It's in Revelations.
Outlander Systems
05-24-16, 20:13
Ahhhhh, but the opportunity cost of the toilet paper could be better spent on more pressing items, like food.
Thus, given that say, $200 USD equivalent may be required to purchase toilet paper, one could effectively wipe one's ass with $40 worth of Venezuelan bank notes, and still have $160 USD equivalent to spend on hamburger.
Actually, that sets a lower limit of the value of cash, adjusting for the suitability of purpose....
Digital_Damage
05-24-16, 20:29
The Mark of the Beast. It's in Revelations.
Well that explains it.
Ahhhhh, but the opportunity cost of the toilet paper could be better spent on more pressing items, like food.
Thus, given that say, $200 USD equivalent may be required to purchase toilet paper, one could effectively wipe one's ass with $40 worth of Venezuelan bank notes, and still have $160 USD equivalent to spend on hamburger.
But we'll all be millionaires doe
Outlander Systems
05-24-16, 20:33
More like Mark of the Tyrant:
https://www.washingtonpost.com/news/wonk/wp/2016/02/16/its-time-to-kill-the-100-bill/
The Mark of the Beast. It's in Revelations.
Criminals would just find an alternate means of exchange.
FromMyColdDeadHand
05-24-16, 20:34
But we'll all be millionaires doe
We will be sh!tting on money, not sh!tting money.
I'm suddenly warming to the idea of putting Obama on a bill, please not a coin.
FlyingHunter
05-24-16, 20:34
< $1
Look at Venezuela, for instance.
I imagine their currency is worth less than toilet paper.
Wasn't their devaluation of cash driven by an oversupply of printing cash in a failed attempt to slow hyper inflation vs a ban on cash?
My plan is to pull a Simon Phoenix and cut off the hands of Heathens to buy foodcand ammo if I get left behind during the Rapture
That's a joke unless the Rapture hits, them it's a plan.
Outlander Systems
05-24-16, 20:38
Brother, they're so broke, they literally can't afford to print more money.
My main point was to look at what's currently fetching the highest barter values there as a future hedge when it comes time to pay the Piper.
Wasn't their devaluation of cash driven by an oversupply of printing cash in a failed attempt to slow hyper inflation vs a ban on cash?
SomeOtherGuy
05-24-16, 22:14
It will be worth little or nothing because it won't be legal to use in legit commerce and without that use it will have very little black-market value, since it's a purely fiat currency backed by nothing. Mint condition bills, of which I'm sure there will be many, might be worth the value of a Happy Meal as wall art or conversation pieces. The rest would be kindling, etc.
This is assuming the counterfactual. I don't see cash being outright banned. Just made more and more inconvenient to use.
But we'll all be millionaires doe
No joke, I own over 100 Trillion Dollars (Zim$). How many trillionaires do you know?
It will be worth little or nothing because it won't be legal to use in legit commerce and without that use it will have very little black-market value, since it's a purely fiat currency backed by nothing.
QFT
The ONLY value of a FIAT currency is the FAITH that said currency can be exchanged for goods and services.
Remember - a FIAT is an arbitrary decree, from Latin "let it be done"
We will be sh!tting on money, not sh!tting money.
I'm suddenly warming to the idea of putting Obama on a bill, please not a coin.
But, if it's a coin, you will only need one because you can use it repeatedly.
http://www.rickety.us/wp-content/uploads/2010/05/100_million_marks.jpg
Outlander Systems
05-25-16, 05:50
I'll see your hundred mil, and raise you:
http://www.youthconnect.in/wp-content/uploads/2015/06/zimbabwean-dollars.png
what is this bullshit about again?
If you haven't been paying attention both large multinational banks and the governments they control want to do away with actual physical currency and make it all electronic so they can know everything about you and your spending habits. Then they can completely control you by cutting of your access to your funds with a few clicks of a mouse...
Moose-Knuckle
05-25-16, 07:58
Whenever they so choose to they can crash the world economy (much like they did the stock market in '29) and all your "electronic" currency in bank accounts, savings accounts, 401ks, IRAs, et al. will be assumed by the .gov in the name of continuity of government.
Laws are on the books where the .gov can "audit" safety deposit boxes in the name of "national security". And yes they have even banned the private ownership of gold before see Executive Order 6102.
But tin-foil hats and blah blah blah there is a game on somewhere.
Outlander Systems
05-25-16, 08:07
Whenever I hear about, "Negative Interest Rates" I laugh my sacks off.
Nothing to see here, folks.
Whenever they so choose to they can crash the world economy (much like they did the stock market in '29) and all your "electronic" currency in bank accounts, savings accounts, 401ks, IRAs, et al. will be assumed by the .gov in the name of continuity of government.
Laws are on the books where the .gov can "audit" safety deposit boxes in the name of "national security". And yes they have even banned the private ownership of gold before see Executive Order 6102.
But tin-foil hats and blah blah blah there is a game on somewhere.
QFT
The ONLY value of a FIAT currency is the FAITH that said currency can be exchanged for goods and services.
Remember - a FIAT is an arbitrary decree, from Latin "let it be done"
I imagine there will be some residual numismatic value after a few decades. Sort of like how I sit on a few silver certificates worth $15 a piece or so. Funny, the value has not kept up with inflation, $1 in 1934 would be worth about $17 today.
In another way, the certificate was the equivalent of 1/8 an ounce in '34... which comes to less than $2 today. Of course, they are irredeemable for silver since 1968.
Value? numismatic only. We would do what any nation in a devaluation or currency change does. Exchange for the new currency during the grace period, convert to other stores of value, or purchase an alternative medium of exchange.
A contemporary example for the first being the Euro. For the second, consider the deposit issue in Japan. With a NIRP, Japanese are not spending money, but converting their savings from deposits to cash, purchasing safes, and socking it away in the home or office. Most Chinese have limited investment options, and gold jewelry and coins are an alternative store of value for them. It's easily accessible to all, and it's compact. For the third, alternative medium, look to any hyperinflationary state. Venezuela today. The first thing a Venezuelan does with a 180% inflation rate is go to the black market (the official exchange rate is 10 bolivars to $1, but no one's paying out dollars, they're only taking them), exchange 1k bolivars for a dollar and sit on it until they need the money, then exchange it back for the rate of the hour, exchange it for toilet paper, which they sell on the street for $20. Either way, they minimize their exposure to the Bolivar by exchanging out to an alternative means of exchange, either alternative currency or barter goods.
It's like life were a big flea market. Or... people are people no matter small finance or big.
Straight Shooter
05-25-16, 08:40
FH- Ive been reading/studying/thinking on this for a long while now.
If I had to give an answer it would be this: Things in the world, the Markets, the Banks, the Economies, ect., are SO screwed..SO corrupt, SO skewed & manipulated, SO taken over by evil, Godless corrupt men who are MORE evil & MORE corrupt than at any time in history, things all over are SO bad, that we have for some time not been able to look at past events to get an idea of whats gonna happen next. We have been at this point for a long while, that history is now NO indicator or even hint of future events. Things are so wackadoo now, there is no longer a set answer for almost anything...I just know itll be BAD, whatever happens.
I know that people have been predicting this stuff for a good many years, even naming specific dates..the latest being 28MAY16...yes, this Saturday!! This crap here is what makes people sick & tired of hearing it, and dulls people from taking steps to prep. I say that literally as a Christian man & Bible believer..ONLY GOD KNOWS WHEN, WHERE, AND HOW itll start. I just know & believe it will, and it aint far off. I think, however..we will be ok this Saturday. Hope so, as Im off and got plans!!
Averageman
05-25-16, 09:00
I know that people have been predicting this stuff for a good many years, even naming specific dates..the latest being 28MAY16...yes, this Saturday!! This crap here is what makes people sick & tired of hearing it, and dulls people from taking steps to prep. I say that literally as a Christian man & Bible believer..ONLY GOD KNOWS WHEN, WHERE, AND HOW itll start. I just know & believe it will, and it aint far off. I think, however..we will be ok this Saturday. Hope so, as Im off and got plans!!
The Paper will be worth just that "Paper", do what you please with it.
I'm thinking if there were a total reset of the system right now things would get ugly fast. "Only God Knows When", but I think if the Progressives have a choice they will keep giving the system CPR until they have a few more things in place. I would guess some more gun control, some sort of legislation that would limit food storage by citizens and something a little better than a phone to track you with.
I'm in my mid fifties, no wife and the kids grown and on his own. In theory if you wipe out the entire system, how do you control someone who has nothing left for a lifetime of work?
I'm sure I may be a bit out of the statistical average, but there are more than a few of us out here. We are either a little past middle age and have been there and done that or are so young that if the system crashes they know that they don't have a future anyway.
It is the folks in the middle, kids, wife mortgage etc who will bear the brunt of the damage and be forced to just shrug it off in the hopes that if they keep going to work they can eat and feed their kids.
My Grandfather told me about guys who were essentially hobo's and would work all day for food and a warm, dry place to sleep. Now imagine that kind of thing happening to families.
Straight Shooter
05-25-16, 09:51
The Paper will be worth just that "Paper", do what you please with it.
I'm thinking if there were a total reset of the system right now things would get ugly fast. "Only God Knows When", but I think if the Progressives have a choice they will keep giving the system CPR until they have a few more things in place. I would guess some more gun control, some sort of legislation that would limit food storage by citizens and something a little better than a phone to track you with.
I'm in my mid fifties, no wife and the kids grown and on his own. In theory if you wipe out the entire system, how do you control someone who has nothing left for a lifetime of work?
I'm sure I may be a bit out of the statistical average, but there are more than a few of us out here. We are either a little past middle age and have been there and done that or are so young that if the system crashes they know that they don't have a future anyway.
It is the folks in the middle, kids, wife mortgage etc who will bear the brunt of the damage and be forced to just shrug it off in the hopes that if they keep going to work they can eat and feed their kids.
My Grandfather told me about guys who were essentially hobo's and would work all day for food and a warm, dry place to sleep. Now imagine that kind of thing happening to families.
How do you control someone who doesn't fear The Happening, and on some level wants it to happen? Who has known of the possibility of it for decades, and made as ready as possible for it? Who wont be shocked, or horrified or taken by surprise when it does?
Who doesn't need or want ANYTHING from gov except to be left alone?
Look at todays "homeless". THEY don't eat three squares a day. They sleep cold, hot, nasty,ect,..BUT THEY SURVIVE.
So many, so very many cant & wont should a bad shtf event happen for any length of time.
I grew up country. On a farm, in the woods, around old timers then, & now. Ive always listened & learned from them. I know how to do shit most people don't even know exists. I LONG for a world without the f-ing cellphone, its an addiction as bad as ANY drug. I can easily live w/o computers, electronics, media, tv, ect. Many cant, theyd go ape. I really DONT want something to happen, but there are times Im so sick of this society I just want to see a re-set or something, to teach us all a lesson, so to speak. I wont be immune to it, but folks like us will weather it better than the vast majority will. Being spiritually ready, as well as mentally, is THE greatest weapon one can have, imo.
If you haven't been paying attention both large multinational banks and the governments they control want to do away with actual physical currency and make it all electronic so they can know everything about you and your spending habits. Then they can completely control you by cutting of your access to your funds with a few clicks of a mouse...
I'll just switch to space cash.
FlyingHunter
05-25-16, 19:00
If you haven't been paying attention both large multinational banks and the governments they control want to do away with actual physical currency and make it all electronic so they can know everything about you and your spending habits. Then they can completely control you by cutting of your access to your funds with a few clicks of a mouse...
Great answer. Accurate.
Which is why I have a contrarian perspective regarding the value of cash in this thought experiment. To avoid the tracking and control; cash will be worth more as a black market currency vs. its current value.
Great answer. Accurate.
Which is why I have a contrarian perspective regarding the value of cash in this thought experiment. To avoid the traking and control; cash will be worth more as a black market currency vs. its current value.
Remember all those Freemen guys who always carried silver coins that everyone said was insane? Well they might be weird but...
Moose-Knuckle
05-26-16, 03:12
The Paper will be worth just that "Paper", do what you please with it.
I'm thinking if there were a total reset of the system right now things would get ugly fast. "Only God Knows When", but I think if the Progressives have a choice they will keep giving the system CPR until they have a few more things in place. I would guess some more gun control, some sort of legislation that would limit food storage by citizens and something a little better than a phone to track you with.
I'm in my mid fifties, no wife and the kids grown and on his own. In theory if you wipe out the entire system, how do you control someone who has nothing left for a lifetime of work?
I'm sure I may be a bit out of the statistical average, but there are more than a few of us out here. We are either a little past middle age and have been there and done that or are so young that if the system crashes they know that they don't have a future anyway.
It is the folks in the middle, kids, wife mortgage etc who will bear the brunt of the damage and be forced to just shrug it off in the hopes that if they keep going to work they can eat and feed their kids.
My Grandfather told me about guys who were essentially hobo's and would work all day for food and a warm, dry place to sleep. Now imagine that kind of thing happening to families.
IMHO the end game is depopulation by 99%. Essentially this planet's sixth mass extinction which some say is already underway, while the globalists are pushing their "global warming" agenda we're actually heading towards our next naturally occurring glacial maximum. The least of our worries will be our 401ks and SS benefits.
When the stock market crashed in '29 before things normalized upon our entry into WWII over five million Americans starved to death. I had a great-aunt who married into the family that was from Canada. During the Great Depression when she was barely in her teens, her own mother prostituted her out to men.
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