‘First the War on Cash, then the War on Gold’


COGwriter

Jim Rickards wrote the following:

‘First the War on Cash, then the War on Gold’

The war on cash is old news, but it is escalating rapidly…

India’s decision to make 1,000- and 500-rupee notes worthless is having devastating ripple effects in the Indian economy and the market for gold.

The consequences of the decision are both appalling and encouraging — appalling because they show governments’ ability to destroy wealth, and encouraging because they show the ingenuity of individuals operating under the thumb of an oppressive government.

One immediate consequence of the cash ban was that paper money began trading at a discount to face value. The entire banking system in India has been running out of cash and alternative forms of payment such as gold and barter have been emerging.

In plain English, you might be able to sell your illegal 1,000-rupee note to a middleman for 750 rupees in smaller denominations. You would get legal tender for your worthless 1,000-rupee note. The middleman presumably has some connection with the banks that allows him to deposit the funds without being harassed by the tax authorities.

It’s not unusual for bonds to trade at a discount due to changes in interest rates or credit quality, but this is the first time I’ve ever seen cash trading at a discount (although I did predict this development in Chapter 1 of my new book, The Road to Ruin.)

The second distortion is that gold is selling in India for over $2,000 per ounce at a time when the world market price is under $1,200 per ounce. This is because Indian citizens are rushing to buy gold for cash.

The gold dealers can then deposit the cash for full value. This is just another form of discount on the face value of the cash. It’s not that gold is more valuable; it’s just that your $2,000 is worth less than $1,200 (in rupee equivalents) when it comes time to buy the gold.

I’ve said for a while that the war on cash would be followed quickly by a war on gold. India may prove the point.

Don’t think of this as something that happens only in poor countries. Similar scenes will play out in the U.S. and Europe as elites become more desperate to take your money.

It should be clear that the war on cash has two main thrusts. The first is to make it difficult to obtain cash in the first place. At home, U.S. banks will report anyone taking more than $3,000 in cash as engaging in a “suspicious activity” using Treasury Form SAR (Suspicious Activity Report).

The second thrust is to eliminate large-denomination banknotes. A 1,000-rupee note may sound like a lot, but it’s only equivalent to about $15 U.S. dollars. The U.S. got rid of its $500 note in 1969, and the $100 note has lost 85% of its purchasing power since then. With a little more inflation, the $100 bill will be reduced to chump change. …

One solution to negative interest rates is to buy physical gold. But if the government has a war on cash, can the war on gold be far behind? Probably not.

Governments always use money laundering, drug dealing and terrorism as an excuse to keep tabs on honest citizens and deprive them of the ability to use money alternatives such as physical cash and gold. When you start to see news articles about criminals using gold instead of cash, that’s a stalking horse for government regulation of gold.

Guess what? An article on the topic of criminals using gold just appeared this spring, in Bloomberg. This is one more reason to get your physical gold now, while you still can. 11/29/16 https://dailyreckoning.com/first-war-cash-war-gold/

And yes, I have reported on the ‘war on cash’ here before (e.g. Cashless hints in Australia sound like some proposed for the USA).

As far as USA cash goes, biblical prophesies indicate (cf. (Habakkuk 2:6-8; Jeremiah 30:7; Daniel 11:39) that one day the USA dollar will lose 100% of its value. Other than ‘souvenir value,’ it will only be worth the dross in its coinage and the salvage value of any remaining cotton-paper currency.

But what about elsewhere?

Will there be a successful ‘war on cash’?

Biblically, this appears to be the case.

The Bible also has an end time prophecy related to financial controls of the coming European Beast power:

16 He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.

18 Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666. (Revelation 13:16-18)

The above prophecy was written over 1900 years ago, and was not possibly able to be fulfilled until the 21st century. A century where cash  is being replaced by electronic currency that can be fully tracked.

Thus, to a major degree, the ‘war on cash’ will be ‘successful.’

What about the ‘war on gold’?

There are different scenarios for that.

Consider, also, the following from Larry Edelson of Money and Markets:

November 30, 2016

In the best of times, when the interests of the private and public sectors are aligned, you get as close a partnership as you can get between the private and public sectors. …

But in bad economic times, the self-interest of government rises to the top.

Seeing diminished revenues and unable to curtail spending, governments start to go broke. As they go broke, they turn against their citizens and seek more ways to soak money from them while at the same time cutting and even reneging on promises. …

For in the end, bankrupt governments want to grab your money to make themselves whole.

They engage in propaganda and desperate socialist moves to spread the wealth in some utopian vision of the world that is really nothing more than grabbing everyone’s wealth to feed a monster that is going belly up.

Think of the British and the American revolution. The original Tea Party and “no taxation without representation.” Think of the French Revolution. The fall of Rome and Byzantium.

In each and every one of those instances, and countless others, government crossed the line and invaded the private sector first, confiscating wealth to pay for its mistakes to desperately try and survive. http://www.moneyandmarkets.com/war-cycles-ramping-83257

Governments have historically confiscated wealth that included gold. The USA made private ownership of gold bullion illegal for decades and forced Americans to sell gold to the government for less than the international market value.

Something like that may very well happen again in the USA.

And this may not be limited to the USA (currently in Argentina one cannot legally buy gold).

But some apparently will have gold.

Yet while the Bible shows that gold will have value AFTER the START of the Great Tribulation (cf. Daniel 11:39-43), the time will come, BEFORE Jesus returns, when people will also dump gold:

19 They will throw their silver into the streets, And their gold will be like refuse; Their silver and their gold will not be able to deliver them In the day of the wrath of the Lord; They will not satisfy their souls, Nor fill their stomachs, Because it became their stumbling block of iniquity. (Ezekiel 7:19).

Possible reasons for this are discussed in the article The Plain Truth About Gold in Prophecy. How Should a Christian View Gold?

However, the solution to the financial crises that will come is repentance and the Gospel of the Kingdom of God.

Some items of possibly related interest may include:

America’s Day of Reckoning 2017 Dollar Collapse? Economist James Dale Davidson says that a financial bloodbath will hit the USA and there is nothing that Washington can do to stop it. He claims that at least 57 nations have gotten together to dethrone the US dollar as the world’s reserve currency. He claims this can happen any day or in a few months. He mentions China, Russia, the AIIB, and gold. He claims his track record in predicting massive shifts in the past should assure people that he is right about this. He claims that there will be massive unemployment, near elimination of social security benefits, and more. Is James Dale Davidson possibly right on any of this? Dr. Thiel goes over many of his claims and explains what the Bible shows related to the coming collapse of the US dollar. This is a video.
Collapse of the Euro and Dollar? War in 2020? Larry Edelson of Money and Markets described aspects of current economic difficulties and explained why he felt matters would get a lot worse. He said war, like World War III, could break out as early as 2020. What did he call the ‘granddaddy of all cycles”? Will matters go as he said? What does the Bible teach? Dr. Thiel provides biblical insights that secular sources often miss. This is a video.
Preparing for the ‘Short Work’ and The Famine of the Word What is the ‘short work’ of Romans 9:28? Who is preparing for it? Here is a link to a related video sermon titled: The Short Work.
The Final Phase of the Work What is the final phase of the work? Who will lead it? Do you have the courage to support it? Here is a related YouTube video titled The Final Phase of the Work. The written article has been translated into Spanish La Fase Final de la Obra.
Should a Christian Vote? This article gives some of the Biblical rationale on this subject. Would Jesus vote for president/prime minister? Is voting in the Bible? This is a subject Christians need to understand. A video of related interest is available titled: Should Christians Vote?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
When Will the Great Tribulation Begin? 2016, 2017, or 2018? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2016 o 2017? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter video is: Can the Great Tribulation Start in 2016?
Two Horned Beast of Revelation and 666 Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?
The Mark of Antichrist What is the mark of Antichrist? What have various ones claimed? Here is a link to a related sermon What is the ‘Mark of Antichrist’?
Mark of the Beast What is the mark of the Beast? Who is the Beast? What have various ones claimed the mark is? What is the ‘Mark of the Beast’?
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
World War III: Steps in Progress Are there surprising actions going on now that are leading to WWIII? Might a nuclear attack be expected? What about WWIV? Does the Bible promise protection to all or only some Christians? How can you be part of those that will be protected? A related video would be Is World War III About to Begin? Can You Escape?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2024 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up?
Project Prophecy: Economic Collapse Starting in 2015? Jim Rickards once worked for the CIA and also was once part of a a USA government program called called ‘Project Prophecy.’ He has a video were he claims that starting in 2015, the USA may have economic collapse resulting in a 25-Year Great Depression. He mainly cites debt figures and claims advises alternatives to the USA dollar which he says will collapse? What did Rand Paul state? Can the USA dollar collapse?
Market Collapse then New World Order in 2015? A long-time financial adviser named Harvey Organ claims that claims that because of insufficient gold in the central banks of USA and UK, that Shanghai would bring about exposing this and that this would lead to a massive, overnight, rise in the price of gold and silver, diminished value of their currencies. He states a market collapse will occur before the end of 2014, that the petroyuan will replace the petrodollar, and that a Chinese led New World Order will be in place for 2015. Is this possible? Where does the leader of the ‘New World Order’ come from? What does the Bible teach?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Are You Being Called by God? Norman Shoaf wrote various points to consider.
Christian Repentance Do you know what repentance is? Is it really necessary for salvation?
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
The Gospel of the Kingdom of God This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to three related sermons: The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.



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