Former Senior Aide to FOUR Presidents Outlines How and Why the Elites Want to End Physical Cash
by Phoenix Capital Research
ZeroHedge.com
11/21/2015
In recent months:
1) The SEC and other regulators have implemented legislation allowing Money Market Funds to lock in your cash for up to 10 days during the next financial crisis (meaning you cannot get your money out).
2) The FDIC has implemented legislation permitting it to seize “systemically important” banks and convert their deposits into equity (the dreaded “bail in” used in Cyprus in 2013).
3) JP Morgan and other large banks have begun rejecting large deposits.
4) France has banned any transaction over €1,000 Euros from using physical cash. Spain has already banned transactions over €2,500. Uruguay has banned transactions over $5,000. And on and on.
There is a widespread global campaign to eradicate physical cash. And we’ve now got a connected insider confirming it.
Dr. Harald Malmgren is about as connected as you can get into the Washington DC political elite. He served as a Senior Aide to FOUR separate Presidents as well the Senate Committee on Finance.
This is someone who KNOWS what global elites are thinking about the financial system and US economy.
Dr. Malmgren recently gave an interview to Sinclair and Co that is absolutely shocking.
The very first sentence:
Banks in the US and Europe are trying to develop a cashless transactions system… The concept is to establish a comprehensive ledger for a business or a person that records everything received and spent, and all of the assets held – mortgages, investment portfolios, debts, contractual financial obligations, and anything else of market value including pleasure boats, automobiles, and other machinery.
The Rest…HERE
