Central banks and other globalist interests have long sought to eliminate cash and replace it with an entirely digital currency as another method of directly controlling the global population. Now, the toy manufacturer Hasbro and former Secretary of the Treasury and Chief Economist of the World Bank Larry Summers have joined the propaganda war against cash.
In his editorial for The Washington Post, entitled “It’s time to kill the $100 bill”, Summers suggests removing high denomination notes such as the $100 bill and the 500 Euro note from circulation in order to reduce crime and corruption. To accomplish this goal, Summers calls for “a global agreement to stop issuing notes worth more than say $50 or $100.”
The European Central Bank appears to be following suit, as reports have emerged that ECB President Mario Draghi is planning to remove the 500 Euro note from circulation. “There is a pervasive and increasing conviction in the world of public opinion that high denomination banknotes are used for criminal purposes … It’s in this context that we are considering action,” he said.
As reported by Zero Hedge, the globalist plan to eliminate high denomination notes under the guise of reducing crime and corruption is nothing more than a smokescreen to mask their true agenda.
“All this modest proposal will do is make it that much easier to unleash NIRP, because recall that of the $1.4 trillion in total U.S. currency in circulation, $1.1 trillion is in the form of $100 bills. Eliminate those, and suddenly there is nowhere to hide from those trillions in negative interest rate ‘yielding’ bank deposits.”
Responding directly to Summers’ editorial, Durden continued, “So with one regulation, the Fed – if it listens to this Harvard charlatan, and it surely will as more and more “academics” get on board with the idea to scrap paper money – could eliminate the value of 78% of all currency in circulation, which in effect would achieve practically the entire goal of destroying the one paper alternative to digital NIRP rates, in the form of paper currency.”
Not looking to be left out of the propaganda war, toy manufacturer Hasbro recently released a new version of Monopoly entitled Ultimate Banking in which cash is replaced by a tiny ATM to track every financial transaction. More importantly, “The latest version of the game, which will be available in the fall for $25, also mixes things up with new chance cards called Life events that can cause rents across the board to fluctuate, or other sudden financial changes that are really only easy to implement thanks to the game’s much-improved electronic ultimate banking.”
The war on cash is nothing new. In May 2015, Economist Martin Armstrong reported a secret meeting in London with the head of Citigroup and representatives from the ECB and the Federal Reserve to “advocate the elimination of all cash to bring to fruition the day when you cannot buy or sell anything without government approval.”
In August 2015, The Financial Times, in an editorial entitled “The case for retiring another ‘barbarous relic'”, argues eliminating cash would make it easier for taxes to be implemented, as well as make it easier for the government to squeeze the informal economy out of existence.