Zero Hedge: How much louder can the “ban cash” calls get?
Put simply, if interest rates get too low, depositors will simply take their money out the bank and put it in the mattress or the safe where, to quote WSJ from last week, “interest rates are always low no matter what central bankers do.”
Now, the excuse given for banning big bills is that it combats crime. And maybe it does. But in the end the rationale is simple if there are no more physical banknotes, people have no economic autonomy.”
Opinion: It doesn’t take a financial expert to see why gold and silver coins and bullion are rising in value after a 4 year sell off, but hoarding precious metals may not be the answer. Here’s why:
1. Governments are getting rid of cash in order to take control of consumer spending:
- No spending = deposits are taxed
- Too much spending = interest rates raise to curb borrowing
2. If consumers load up on precious metals, the government could:
- Reenact The United States Gold Reserve Act of January 30, 1934
- Require that individuals sell all gold to the US Treasury
What is obvious from the article is that few people find any connection between the move to eliminate cash and the prophecies found in Revelation 13. There we find a global dictator with so much power that he has the ability to control every financial transaction. Once cash is gone, it should be a no-brainer to move to a single digital currency.
Then, there are many Christians who believe that God did indeed appoint us to suffer wrath; that the promises made in the Bible do not mean that the Church will be taken up to meet Christ (1 Thess. 4:16-18) prior to the tribulation, despite these assurances:
- Luke 21:36
- 1 Thess 1:10
- 1 Thess 5:9
- Rev 3:10
Post-Tribulation believers teach that the Church will be on earth for the entire set of 21 judgments of the book of Revelation and that God will protect the Church similar to the 10 plagues of Exodus or Daniel’s 3 friends in the furnace.
The problem with the theory is that in both cases, those protected were Israelites, which further strengthens the pre-trib position and Matthew 24:15-16:
“Therefore when you see the ‘abomination of desolation, spoken of by Daniel the prophet, standing in the holy place” (whoever reads, let him understand), then let those who are in Judea flee to the mountains. “
Since the Church is in heaven, Jesus protects the Jews while those who have rejected Christ face judgment.