Miseries unleashed by push for Cashless trading

Miseries unleashed by push for Cashless trading

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No.77).

#bank gouge, #cashless, #rip off, #bank fee, #bank charge, #penalty, #overdraft.

Miseries unleashed by push for Cashless trading.

The bank advocates in Australia used the pretext of fighting tax evasion and organized crime [1] to advocate the abolition of cash. Is this their real motive? As usual, we have to think that bank profit is the real motive. The situation in Australia is just a local version of wider analoguous global events.

1. Definition of Cashless societies.

In setting up cashless societies, governments require each person to open a bank account and put all his earning and spending through that bank account. They claim doing this reduces tax evasion and organized crime.

2. Can tax evasion be reduced?

No. People can still form Work Parties to trade their works (tax free) ! Similarly, people can exchange their services for goods.

For evasions by trademen and retailers, random inspection can drastically increase compliance with existing GST, VAT system using cash.

3. Can organized crime be reduced?

a. It is now known that Russian organized crime flourished in the Soviet era as people could still give one another ration cards, goods, service, favours, etc.

b. The Commonwealth Bank of Australia did not get any fine for transgressing the rules on Cash transactions. (Yes, the Australian Government still shamelessly said that it wanted to fight organized crime by bank rules !)

So it is only hopeful talk on its effects [19], [20], , [24].

4. The real motive in making a cashless society:

a. Private International Bankers have owned Central banks of USA, England [2], and now they want a firmer grip on national finance of each country.

From partial ownership of Federal Reserve Bank, they annually collect $40 USD per American head (They love it to the point of assassinating 2 US Presidents and attempted (failed) assassination of another US President.). We have to imagine how much more they can collect if they also control individual accounts of each person.

b. Int. bankers failed attempts to lure people into Diner Club, American Express, Visa, Master Cards tell them that they have to herd users into their system by legal compulsion.

c. Their failure is caused by people’s aversion to their multitude of fees: joining, interests on debits of more than 28 days, penalties for not meeting monthly minimum payments, etc… (, [23]).

d. They tried to promote their cards again by TV advertisements, asking hired cars companies and hotels to limit business to only credit card holders.

e. They still failed.

f. So they realized that the easiest way to herd people into their finacial systems is to have cash removed. Finally, they had the Indian government doing exactly what they wanted!

Figure: The setting up of a fiat money.

In my illustration for the setting up of fiat money, just imagine that there was a banker in front of the government building intercepting all transactions between it and its citizens and even among the citizens. Can you trust that banker?

5. People are forced to put their savings into banks and give credits to stores.

People have to put their money in the banks to increase the ratios of money kept over all money on loans from those banls.

Stores will have to issue trade account vouchers to replace cash. Prudent people will have to buy these vouchers to avoid being left without foods, clothes and everything else if the internet or the banks or all shut down.

Prepayment of goods for about two month of supplies is in effect giving credits to the stores.

If the stores go bankrupt, your customer voucher cards may give you higher priority than unsecured trade creditors !

This has also been suspected as a real motive for the Indian goverment’s attempt to force cashless systems on Indian people [4].

6. How to avoid bank gouge.

(The long rules to avoid fees, rip-off penalties and inconvenience.)

In a cashless society, each person must have a bank account with a card. So you have to adhere to the following rules:

1. Select a card WITHOUT OVERDRAFT FACILITY from a bank with no joining fee, no monthly fee and no exit fees.

This may be possible but may also be impossible depending on competition between the banks. You also have to expressively tell the bank that you DON’T WANT ANY OVERDRAFT. Failing to say that may allow them to charge you hefty overdraft fees.

2. Try to find sellers with no or low charges on your purchase transactions.

3. Keep track of your deposits and spendings on a WRITTEN piece of paper to match up your balance figures with those on monthly bank statements.

4. Find out the exact dates your deposits will be added to and various fees deducted from your balance. The delays on adding the deposit may be blamed on non-business days, 3 days delays for the bank to use your money for free, failure by their own computers or connection network !

5. Eagerly read your monthly statements to reconcile your balance after receiving it.

6. Leave about $10 in your account card to cover for the anticipated differences caused by different ways of calculating the balance (fees on your deposits, fees on your purchases). This prevents it going into negative, triggering an OVERDRAFT mode for that they can whack a huge FEE (penalty ?) of about $20USD on your account. (Please reread rule #1 !)

7. IMMEDIATELY notify the bank if statement fails to arrive. IMMEDIATELY report to the bank any discrepancy between the monthly statement and your own written record of the account. Non-reporting implies your acceptance of their statements and later discovery of any difference will not be LEGALLY accepted. (Please reread rule #3 !)

8. Only shop at your familiar shops, avoid shopping at unfamiliar shops which may run a card scam on you.
7. Do not enquire about your balance more often than you are allowed to (about 6 free enquiries per month, each additional enquiry cost you $1.00USD).

9. Do not purchase more often than you are allowed to (the relevant governments have to make rulings on the frequencies). Each extra purchase trip may cost you some transaction fees of about $2.00USD (estimation only).

10. If you transgress (or is trapped by ?) any of the bank rules (like not paying their arbitrarily imposed rip-off penalty) your account card will be locked up and have no way to access your deposits (whether they are your salaries or government allowances) until you open another account card at another bank (usually with high fees and penaties conditions). You have to live off your family and friends while waiting for the new card.

7. Incidental (rip off?) fees.

1. OVERDRAFT FEES if applicable ($30 AUD = $25 USD per triggering in Australia and much higher in the UK, at £90 per month [6]).

2. STATEMENT REPRINT FEES ($30 AUD = $25 USD per monthly listing in Australia).

3. Plastic card replacement fees.

4. Balance enquiry fees when exceeding allowed numbers.

5. Outrageous fees if you use you cards oversea ( [22]).

8. Systemic risks to account holders.

1. The internet can collapse at any time leaving account holders in the cold ( [7]), or some hacker may attack to lock up all customer accounts ( [7a]).

2. According to current banking rules in major English speaking countries, customers will lose their money deposited to their accounts if the bank goes bankrupt. Only 10% of total of all deposits are kept for them in the Central Bank (which may also be privately owned, as in USA and in UK !).

So if any bank has some misfortune, its customers can say goodbye to their strings of 0’s and 1’s. In the time following that they have to somehow survive, waiting for the Central Bank to intervene !

The risk is not imaginary. Multiple banks have been defrauded. The Bangandesh Central Bank have been defrauded by just a single of many possible scams ( [8]). Similarly, a giant French bank has been exposed to billions of loss ( [21]).

9. Social consequences.

1. Homeless have to beg for shelters, foods or clothings, not money.
2. Casual, unplanned cash in hand jobs for handimen will disappears.

3. Sunday markets, garage sales will disappear.

4. Small repairs and odd works are to be carried by registered handimen at much higher costs (with their well known tricks of making small jobs big).

5. Houses deteriorate due to high maintenance costs.

6. With a captive market, banks can increase their fees and impose penalties at their will. Bankers become a new ruling class.

7. Stores will have to issue trade account vouchers to replace cash. Prudent people will have to buy these vouchers to avoid being without foods, clothes and everything else if the banks shut down.
8. Economic slow down due to lack of fluidity of transactions (look at India after demonetizing for an example).

9. Underworld now trade in high value goods (companies, houses), influence, favours and forced, inhouse labours.

10. Conclusion.

You have been warned! Bankers are really desperate for your money [17].

References.

[1]. http://www.abc.net.au/news/2017-08-18/cba-the-only-bank-on-austrac-radar/8820686

[2]. http://rudolfhess.net/
[3]. India rupee ban: Ex-PM Manmohan Singh rubbishes Modi crackdown, BBC News Services, http://www.bbc.com/news/world-asia-india-38088177, 24 November 2016.

[4]. http://indianexpress.com/article/blogs/demonetisation-implementation-cash-crunch-digital-payments-cashless-transactions-4435312/
[5]. https://en.m.wikipedia.org/wiki/Bangladesh_Bank_robbery
[6]. https://speakout.38degrees.org.uk/campaigns/2560?utm_source=facebook&utm_medium=advert&utm_campaign=18_8_2017_unfair&bucket=facebook-advert-18_8_2017_unfair.

[7].

[7a]. tonytran2015, .https://survivaltricks.wordpress.com/2016/11/20/collapse-of-online-banking-is-not-a-remote-risk/, posted on

[8]. )

[9]. Neha Sharma and Shalu Yadav, The Indian village that has returned to bartering, BBC News Services, http://www.bbc.com/news/world-asia-india-38180075, 5 December 2016.

[10]. Patrick Bodenham, Will Spain’s coal belt survive through online barter?, BBC News Services, http://www.bbc.com/news/world-europe-38731808, 2 February 2017.

[11]. James Melik, Haggling and bartering gain appeal, BBC News Services, http://news.bbc.co.uk/2/hi/business/7883050.stm, 12 February 2009.

[12]. Mark Lowen, Greece bartering system popular in Volos, BBC News Services, http://www.bbc.com/news/world-europe-17680904, 12 April 2012.

[13]. https://mishtalk.com/2017/08/16/india-bans-gold-exports-without-a-valid-reason/

[14]. https://astutenews.com/2016/11/17/war-on-cash-intensifies-citibank-to-stop-accepting-cash-at-some-branches/

[15]. Ex-HBOS banker ‘sold his soul for swag’, bbc new, http://www.bbc.com/news/business-38842723, 2 February 2017.

[16]. Barry Ritholtz, Excessive CEO Pay for Dumb Luck, bloomberg.com, https://www.bloomberg.com/view/articles/2017-03-06/excessive-ceo-pay-for-dumb-luck, accessed 07 Mar 2017

[17]. tonytran2015, Bankers given outrageous incomes by their boards, https://survivaltricks.wordpress.com/2016/12/22/bankers-given-outrageous-incomes-by-their-boards/, posted on December 22, 2016

[18]. http://wallstreetonparade.com/2016/08/bailed-out-citigroup-is-going-full-throttle-into-derivatives-that-blew-up-aig/

[19]. http://www.perthnow.com.au/news/western-australia/cashless-welfare-card-backfires-with-increase-in-crime-according-to-aboriginal-health-council-of-wa/news-story/adc141c9c21467e3c33b6355ff682c29

[20]. https://www.theguardian.com/australia-news/2017/jan/09/ration-days-again-cashless-welfare-card-ignites-shame.

[21]. http://www.nbcnews.com/id/22818054/ns/business-world_business/t/french-bank-blames-trader-billion-fraud/
]22]. tonytran2015, https://survivaltricks.wordpress.com/2016/12/02/avoiding-high-costs-of-credit-cards-on-oversea-transactions/

[23]. , news.com.au, http://www.news.com.au/finance/business/banking/customer-fee-gouge-rolls-on-as-banks-make-massive-profits/news-story/5084b9b9f08c8836f6056fed84092b6b

[24]. https://www.bloombergquint.com/global-economics/2017/08/30/india-central-bank-spends-record-amount-to-replace-void-notes

Added after 2018 March 20:

[25]. https://riggedgame.blog/2018/03/27/even-the-worlds-most-cashless-nation-doesnt-want-to-go-fully-cashless/

[26]. https://reclaimourrepublic.wordpress.com/2016/12/09/the-secret-meeting-that-accelerated-the-war-on-cash/

[27]. http://www.thedailybell.com/news-analysis/top-10-goals-in-the-communist-manifesto-accomplished-in-america/

[28]. https://straightlinelogic.com/2016/09/13/you-will-be-poor-by-robert-gore/

[29]. http://mobile.abc.net.au/news/2017-08-03/credit-card-fraud-on-the-rise/8769944

[30]. https://riggedgame.blog/2018/07/19/the-cashless-society-is-a-con-and-big-finance-is-behind-it/

[31]. https://wolfstreet.com/2018/07/21/backlash-against-war-on-cash-reaches-washington-china/

[32]. https://bcnn1wp.wordpress.com/2018/07/28/black-woman-sues-wells-fargo-for-discrimination-after-bank-teller-refused-to-cash-her-check-and-called-the-police-for-forgery/

[33]. https://wolfstreet.com/2018/07/30/the-eu-backs-off-its-war-on-cash-heres-why/

[34]. https://www.bloomberg.com/view/articles/2018-09-02/indian-demonetization-failed-even-to-create-a-savings-culture?srnd=premium

[35]. https://wolfstreet.com/2018/10/26/nirp-fades-swedens-central-bank-makes-u-turn-on-cashless-society/

[36]. https://riggedgame.blog/2018/10/28/swedish-central-bank-makes-u-turn-on-cash-as-nirp-is-ending/

[37]. Internet outage swoops across the US, https://www.cnet.com/news/internet-outage-dyn-ddos-attack-twitter-spotify/

Attacks against a core internet firm play havoc with some of the world’s most popular websites.

Based in New Hampshire, Dyn is both a DNS service provider — translating URLs into IP addresses — and an internet management company, helping website customers get the best-possible online performance. It also filters out bad traffic headed to the websites,… and that’s where things fell apart Friday.

[38]. Telstra outage causes chaos as Commonwealth, ANZ and NAB ATMs and EFTPOS facilities crash AUSTRALIA-WIDE – leaving thousands stranded without cash, https://www.dailymail.co.uk/news/article-7235487/Commonwealth-Bank-ATMs-eftpos-services-crash.html

[39]. Now fixed: Visa outage disrupted ‘millions’ of payments in UK and Europe, https://www.cnet.com/news/visa-outage-europe-disrupts-payments/

[40]. Visa DOWN: Millions affected as ‘service disruption’ blocks payments across UK and EUROPE, https://www.express.co.uk/finance/city/968194/visa-down-payment-processing-visa-europe-mastercard-finance-news-credit-card-debit

[41]. https://www.cashless-economy.com/There-is-a-huge-machinery-to-make-us-believe-that-cashless-ness-is-in-our-interest-Shrija-Agrawal-Associate-Editor_a143.html

Just as Google wants all internet access to go through its portal, it appears fintech corporations want people to access and navigate broader economic decisions via their privately controlled platforms.

[42]. https://localtvwtvr.wordpress.com/2017/02/22/big-banks-rack-up-6-4-billion-in-atm-and-overdraft-fees/

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Cashless bartering for survival

Cashless bartering for survival

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No.54).

#cashless, #bartering, #survival

After the collapse of an issuing government of some fiat money, or even after a government’s sudden demonetization or confiscation of its own fiat money the population is left with only bartering for their own survival.

1. Choice of universal exchange medium

As the existing fiat cash has no authority to accept it as a tax payment (such as right after that government is toppled by an occupation force or by a revolution), it may become just a worthless piece of money (see references [2],[3],[4],[5]).

People can do direct bartering of their locally produced goods and needed items or they can do better with indirect (double) bartering using an intermediary bartering medium. For examples on bartering medium, they can use five lemons or five oranges or two chicken eggs rather than one dollar, a spark plug to rather than 2 dollars etc…Bartering items are to be valued close to their former cash prices. For the long run, people have to adopt some “universal” trading medium (to replace the former currency) for their daily or weekly exchange (trading).

People should choose some medium with intrinsic values and with the following characteristics for their bartering:

1a. Usefulness to everyone,

1b. Being durable, not perishable, easy to maintain,

1c. Being neither dangerous nor illegal,

1d. Can be naturally consumed by the owner over time if trading is slow,

1e. Sub-divisibility into any suitable amount is an additional optional advantage.

Examples:

a. Rice (food grains that can be kept for up to 10 years) had been used as an exchange medium in Vietnam during World War 2, as French issued, Japanese issued or Vietnamese issued currencies all have uncertain backing by their respective, competing issuing authorities. Various grains and flours are used in their respective regions.

Figure: Close up photo of rice grains, each grain is about 7mm long.

b. Salt (only in ancient time), peppers, fuel, bicycle spare parts, clothing fabrics had been used in some countries in time of embargo, time of uncertainty and in ancient time. These goods (except bicycle parts) have also been the trading goods on the trans-national Silk road.

c. Clothing fabric, silver and gold had been used in some countries in ancient time.

Vietnamese gold slabs for trading

Figure: Vietnamese gold slabs for trading.
d1. Lighters, matches, cooking items, hygiene items, essential workshop tools (hammers, nails, piers), books and pencils had become desirable bartering goods in poor countries during WW2.

d2. Solar cells, of solar rechargeable batteries, radios, walkie talkies and phones may be desirable in modern time.

e. Decorated painted vases, live stocks (chicken, rabbits, boars, sheep, buffalo) have also been used as short distance trading stocks. (You need to check local laws regarding transportation and owning of live stock or wild life stock.).

f. Liquid fuels are valuable but they are highly flammable and are not suitable for bartering over long distances. Fire wood and coal may be kept in your house as handy bartering stocks.

2. Traders to keep no money!

Trading stocks of traders are to be bartered or sold and immediately changed into new type of stocks. The longer a trader hangs on with some uncertain money the more he may lose through sudden demonetization or inflation.

Remember that money owners (or rather renters?) always pay a RENT ON the MONEY in their custody, the rent is at least equal to the inflation/depreciation of that money. Why should someone rent something he doesn’t need?

3. Trading by bank transfers will carry prohibitive costs!

The move to outlaw cash is actually a herding of people into the control of the banks. The (crooked ?) banks will charge people for:

3a. Annual fees for having an account with them (about $20AUD unless …!)

3b. Inquiries on their current balances ($0.60AUD for each printed stub).

3c. Unknowing withdrawal of more than available from the balance (penalty of about $10 for going into “overdraft”).

3d. For accepting bounced checks ISSUED BY THOSE SAME CROOKED BANKS through their untrustworthy check writers (or are they the actors of the banks?). Banks charge about $30AUD to $60AUD for each bounced (baiting?) check issued by their own actors!

3e. A bank check (with no chance of being bounced) issued by a bank will cost a fee of $7AUD each.

3f. Bank transfer fees of about $2AUD for each completed smooth transaction.

3g. Fees for damage to your cards caused by their faulty machines.

3h. Fees for objections to phantom fees and balance loss through scams.

3i. Threat of account closure through none of your faults.

By now, we all should be aware of the creeping demands by bankers!

4. Conclusion:

Think ahead and be prepared !

References:

[1]. Preparing for cashless trading.

[2]. , posted on December 1, 2016

[3]. India’s cash crisis explained, BBC, http://www.bbc.com/news/world-asia-india-37983834

[4]. Venezuela follows Indias footsteps in demonetization scheme, econotimes.com, http://www.econotimes.com/Venezuela-follows-Indias-footsteps-in-demonetization-scheme-445257

[5]. India rupee ban: Ex-PM Manmohan Singh rubbishes Modi crackdown, BBC News Services, http://www.bbc.com/news/world-asia-india-38088177, 24 November 2016.

[6]. Neha Sharma and Shalu Yadav, The Indian village that has returned to bartering, BBC News Services, http://www.bbc.com/news/world-asia-india-38180075, 5 December 2016.

[7]. Patrick Bodenham, Will Spain’s coal belt survive through online barter?, BBC News Services, http://www.bbc.com/news/world-europe-38731808, 2 February 2017.

[8]. James Melik, Haggling and bartering gain appeal, BBC News Services, http://news.bbc.co.uk/2/hi/business/7883050.stm, 12 February 2009.

[9]. Mark Lowen, Greece bartering system popular in Volos, BBC News Services, http://www.bbc.com/news/world-europe-17680904, 12 April 2012.

[10]. https://us-issues.com/2018/07/16/venezuelas-socialist-hyperinflation-turned-people-back-to-barter-system/

Added after 2018 July 31st:

A SPECTACULAR BARTERING

[11]. https://michael1942.com/2018/07/27/how-pepsi-briefly-became-the-6th-largest-military-in-the-world/

[12]. https://ogaziestheory.wordpress.com/2018/07/27/how-pepsi-briefly-became-the-6th-largest-military-in-the-world/

BARTERING IN HYPERINFLATION

[13]. https://akahinews.com/2018/07/29/venezuelas-bolivar-currency-worthless-as-inflation-hits-1-million-percent/

[14]. https://www.alloutdoor.com/2018/07/09/barter-is-the-new-currency-in-socialist-venezuela/

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Cashless and negative interest go hand in hand.

Cashless and negative interest go hand in hand

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No.37).

#cash, #cashless, #globalist, #money, #negative interest,

There seems to be a synchronized wars against cash: India, France, Spain…

At the same time there is also a trend to have negative interest rates in many countries.

The two seem to depend on each other: Without cash, you have to park your money in banks to suffer negative interests.

People should wonder that the war on cash is actually just a way to recapitalize banks by people’s money and force people to accept negative interest rates.

This will also open the floodgate to exorbitant bank fees and government duties on money movement.

People may also suspect that this is part of a plot by Globalists. They may plan a three pronged attack on the free American people:

1. They take the guns from free Americans.

2. They silence them.

3. They take their wealth and cash from them to control their activities.

The end result is free Americans will become their slaves.

Update 2016Dec12: Venezuela also demonetize its highest denomination bills. People have 72 hours to change to the new bills.

Euro stop printing 500Euro notes from 2018. Japan and Singapore have been orderly withdrawing their highest denomination notes.

.

References

[1]. tonytran2015, Preparing for cashless trading

https://survivaltricks.wordpress.com/2016/12/05/preparing-for-%e2%80%8bcashless-trading/

[2]. tonytran2015, Negative interest rate is not new

https://survivaltricks.wordpress.com/2016/12/04/negative-interest-rate-is-not-new/

[3]. reclaimourrepublic, The secret meeting that accelerated the war on cash

https://reclaimourrepublic.wordpress.com/2016/12/09/the-secret-meeting-that-accelerated-the-war-on-cash/

Added after 2018 Mar 20:

[5]. https://riggedgame.blog/2018/03/27/even-the-worlds-most-cashless-nation-doesnt-want-to-go-fully-cashless/

[6]. https://riggedgame.blog/2018/10/21/backlash-against-war-on-cash-reaches-the-bank-of-canada/

[7]. https://wolfstreet.com/2018/10/26/nirp-fades-swedens-central-bank-makes-u-turn-on-cashless-society/

[8]. https://riggedgame.blog/2018/10/28/swedish-central-bank-makes-u-turn-on-cash-as-nirp-is-ending/

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Preparing for cashless trading.

Preparing for cashless trading

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No.35).

#banking, #barter, #cashless, #credit card, #demonetization, #Indian.

Cashless trading may come after the collapse of the ruling government or even when declared or indirectly created by the goverment. To survive, you need to be prepared.

When you have no cash and you want to pay someone 5 dollars worth of goods. You can:

1. Write a personal cheque. If it bounces then both the issuer (you) and the receiver who deposits it at a bank lose on the huge bank fines (commonly between 10 and 50 dollars, in Australia) for using a dishonoured (bounced) cheque. Who risks taking it?

2. Buy a Bank cheque of 5 dollars with an additional bank fee of about 7 dollars to pay the other party. This advertizes your status !

3. Use your credit card and submit to the torturous financial rules on paying HUGE FEES and FINES to the credit card company. This usually results in you paying the average price of about 0.5 dollars for using their “convenience”. If you violate any of their torturous “rules” you may lose up to one month (it can also grow to one year) of income if you are in a poor country!

4. If you have been trapped with buying useless things by credit cards, you have to pay the debt off before you can continue to use the credit cards. You do not have the right to wait for the rulings of Courts and Consumer Protection Organizations on the validity of the debts.

5. Form your own bartering group or join some existing ones and settle your owings on your payday.

6. Do direct bartering using locally produced goods and needed items. For examples, five lemons or five oranges or two chicken eggs for one dollar, a spark plug for 2 dollars etc…Bartering items are to be valued close to their current cash prices.
7. Use gold, silver, copper rings of known weights made by reputable local jewelers as precious metal standard local currencies.
8. If gold can be legally owned, it is the best cashless trading medium.

Figure: Vietnamese gold slabs for trading.

However, gold user should know that their governments may suddenly take away their gold [6].

The future does not hold bright for poor Indians at this moment. If the government can demonetize once, they will do it again and again.

References (updated Feb 03, 2017)

[1]. India rupee ban: Ex-PM Manmohan Singh rubbishes Modi crackdown, BBC News Services, http://www.bbc.com/news/world-asia-india-38088177, 24 November 2016.

[2]. Neha Sharma and Shalu Yadav, The Indian village that has returned to bartering, BBC News Services, http://www.bbc.com/news/world-asia-india-38180075, 5 December 2016.

[3]. Patrick Bodenham, Will Spain’s coal belt survive through online barter?, BBC News Services, http://www.bbc.com/news/world-europe-38731808, 2 February 2017

[4]. James Melik, Haggling and bartering gain appeal, BBC News Services, http://news.bbc.co.uk/2/hi/business/7883050.stm, 12 February 2009.

[5]. Mark Lowen, Greece bartering system popular in Volos, BBC News Services, http://www.bbc.com/news/world-europe-17680904, 12 April 2012.

[6]. https://mishtalk.com/2017/08/16/india-bans-gold-exports-without-a-valid-reason/

Added after 2018 Oct 23:

[7]. https://wolfstreet.com/2018/10/26/nirp-fades-swedens-central-bank-makes-u-turn-on-cashless-society/

[8]. https://riggedgame.blog/2018/10/28/swedish-central-bank-makes-u-turn-on-cash-as-nirp-is-ending/

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Negative interest rate is not new.

Negative interest rate is not new

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No.34).

#negative interest, #cash, #cashless, #hard time survival.

People are surprised that central banks now charge them for keeping their money. They should not if they look back into the past and they should know how to live with negative interest rate.

1. Negative interest is not new

In agricultural economies, workers had been paid by fruits and food, which have expiry dates. The wisdom in those times was and still IS “use it up and don’t let it perish”.

Then came the concept of lending for an interest, for example “You can borrow my hammer for a week but at the end you should give me a box of nails”.

So, the concept of negative interest is not an upside down idea from central bankers, it only means that the people around you cannot use your capital for any worthwhile productive venture or are not prepared to share the benefit from that venture with you.

In my own observation, when people around you run out of business opportunities the (much hyped) share markets will have to come down to reconnect to reality. So negative interest rate may be a warning sign of a possible share market tumbling. (Form your own judgement, the opinion expressed here is NOT ANY FINANCIAL ADVICE).

2. Living with negative interest rates and regain POSITIVE INCOMES.

Our fore-parents already knew how to live with perishable goods without touching any cash. Their method is:

1. Barter one type of perishable goods for another type that perishes more slowly. If possible, aim to go to step 3.

2. Use surplus perishable food to farm animals (chicken, pigs) and barter the grown animals (after some months) for other non-perishable goodies.

3. If possible barter the animals and non-perishable goodies for low maintenance, consistently desirable goodies such as gold, cloth making materials, household tools, house furnitures, house construction materials, and store them for gradual consumption or for future bartering.
It is your job to apply their ideas to your tough time in this modern economy.

4. Set up the household tools in a room like a workshop and let your neighbours use them for payment in desirable goodies: You can use my tools to repair your chairs but I must be paid with some of your home produced chicken eggs.

Following this strategy, you can REGAIN earning positive incomes from your capital in the NATURAL WAY !
Good luck.

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