Why the Fed HATES Physical Cash and Could Move to Tax It
by Phoenix Capital Research
ZeroHedge.com
10/26/2015
The big banks want to do away with physical cash.
Why?
Because it represents a means of getting your money out of the system.
In its efforts to prop up the Too Big To Fail banks, the Fed has made keeping your money in a bank a low value proposition.
To whit, for decades individuals kept their money in bank savings accounts for two reasons:
1) Safety.
2) Returns.
By not implementing any real reforms to the banking industry, nor jailing anyone who committed the fraud that caused the 2008 Crisis, the Fed has irreparably damaged #1.
The derivatives market remains gargantuan and unregulated. And no one knows that the banks really own (what their balance sheet risk is).
Since 2008, 465 banks have failed in the US. Heck, even 51 have failed this year… despite the fact that supposedly we’re in a recovery and banks have been “reformed.”
Many banks aren’t as safe as most would think.
The Rest…HERE
