Venezuela demonstrates cashless societies are evil

[Suck My Glock]

For decades, liberty-oriented economists have warned that physical currency (whether cash or coin) is the enemy of socialism/communism, and that the progress towards a cashless society is not only reckless and foolish, but exactly the plans of the enemies of freedom. Behold, as Venezuela confirms this.

As the dollar collapses in the future, socialists will demand the death of cash.

https://www.msn.com/en-us/money/markets/venezuelas-maduro-plans-shift-to-a-fully-digitalized-economy/ar-BB1cpVLa

Venezuela’s Maduro Plans Shift to Fully Digitalized Economy

The U.S. dollar has operated as an escape valve for Venezuela amid U.S. sanctions and collapsing oil revenues, President Nicolas Maduro said in a televised interview with Telesur on Friday. He said 18.6% of all commercial transactions are in dollars, while 77.3% are carried out in bolivars with debit cards. Only 3.4% are paid with bolivar notes.

"They have a war against our physical currency. We are moving this year to a more profound digital economy, in expansion. I’ve set the goal of an economy that’s 100% digital,” Maduro said, adding that physical money will eventually disappear.

Venezuela’s currency has lost 99% of its value during three years of hyperinflation, forcing the country to issue higher-denomination notes that in turn become useless in record time. Inflation soared 5,790% in the last 12 months, according to Bloomberg News.

The largest note now in circulation, 50,000 bolivars, is worth about $0.04. The government has delayed plans to issue a 100,000 bolivar bill, which currently would be worth less than $0.10.

 

[McKnight55]

Coronavirus: WHO Urges People To Go ‘Cashless’

https://www.technocracy.news/coronavirus-who-urges-people-to-go-cashless/

[Globalists are taking full advantage of a fearful crisis to promote a cashless world as a way to combat China’s coronavirus. Removing cash from society takes all monetary power away from citizens while giving it to central banks. ⁃ TN Editor
It looks like the Chinese started something…

Following reports that Beijing had “quarantined” dirty cash, the WHO warned on Monday that the virus could survive on banknotes, potentially spreading Covid-19 within communities, and across the world. To reduce the risk of being infected by money, the NGO advised citizens in countries struggling with outbreaks to favor digital payments when possible, the Daily Telegraph reported.

 

[Kingjoey]

Just like with elections, corrupt politicians hate a "paper trail". If they can use computer systems to make millions of votes appear out of thin air, just imagine how much "money" is going to magically show up once its all just a number on a computer system somewhere

 

[Bottom Gun]

Funds can magically disappear as well . . . . . . . . . . .

 

[Harrier]

So how would this affect physical gold & silver?
Would a gold/silver/lead coin in the hand be worth more than digital spot?

 

[Boriqua]

I'm sorry but I don't find much difference between digital currency and paper money and don't share the concerns.
If its not a commodity, skill or craft that you have that someone else is willing to pay for then its all just make believe monopoly money that has a value you could only maybe understand if you had an advanced degree in Economics or ????

You could be sitting on a pile of paper money but if it so devalued by things out of your control what difference does it make what form its in.

I guess .. the only concern is the old "the bank made a mistake not in your favor" and you would have no recourse but that can happen with your bank account.

I dont understand the intrinsic value of gold but at least when the system was based on it there was a real tangible thing .. now its all just smoke and mirrors .. doesnt really matter in what form your government credits are taken.

 

[Boriqua]

So how would this affect physical gold & silver?
Would a gold/silver/lead coin in the hand be worth more than digital spot?

I would MUCH rather have that gold and silver in the hand than have 100,000 pieces of not very attractive paper in the mattress.

I get a real kick out of watching poliziotteschi. Its funny when you see someone go into the store to buy some innocuous item or is making a deal with a prostitute and the cost is ten thousand lira. You think Geez that seems awful expensive for a toothless, overweight prostitute with a mustache standing next to an oil drum fire in the park .. then realize its about 5 bucks.

 

[Half Cocked]

This is just another act of desperation on the part of the bus driver, Maduro. He has destroyed the economy of what was once South America's most prosperous nation and the national currency, the Bolivar, is worthless. The Maduro regime once outlawed the use of the dollar but has now relented due to the complete failure of his socialist policies. The US dollar is now king in Venezuela.

https://www.reuters.com/article/us-venezuela-economy-idUSKBN2951D8

Since a sudden liberalization of Venezuela’s economy at the end of 2018, routine purchases increasingly have been made in U.S. dollars rather than the South American country’s virtually worthless bolivar currency.

 

[McKnight55]

So how would this affect physical gold & silver?
Would a gold/silver/lead coin in the hand be worth more than digital spot?

Incredible piece of WWII Naval History--Atlantic theatre (read Europe missions).

Each Naval Pilot was issued one of these heavy rubber waterproof packs prior to flying assigned missions over enemy territory in the Atlantic theatre.

The Pacific Rim rubber pack did not contain near as much gold as the Atlantic pack did.

In this particular one were two watches with the following writing on the faces of each:


http://www.coloradoprospector.com/forums/index.php?showtopic=391&pid=3313&st=0&#entry3313

FerFal's book about life in Argentina after the 2001 economic collapse.
https://www.amazon.com/Modern-Survival-Manual-Surviving-Economic/dp/9870563457

In the book,he describes using gold chain links for currency when the banks closed.The links would be weighed and valued by the spot price. The point is,gold never goes to zero.

https://ferfal.blogspot.com/

 

[Pale Rider]

It's all about control, just like gun control isn't about the guns it's all about control of people. Once physical currency goes away, and the only way to pay for things at retailers is digitally; the government can turn off your ability to buy essentials if they deem you a non person. The evil f**kers are never going to stop finding ways to screw with the sheeple, so I'd suggest fighting this trend as best you can.

 

[knockonit]

they go all digital, gold and silver will be outlawed, on at black markets, just a vision.

 

[Flash]

So how would this affect physical gold & silver?
Would a gold/silver/lead coin in the hand be worth more than digital spot?

Incredible piece of WWII Naval History--Atlantic theatre (read Europe missions).

Each Naval Pilot was issued one of these heavy rubber waterproof packs prior to flying assigned missions over enemy territory in the Atlantic theatre.

The Pacific Rim rubber pack did not contain near as much gold as the Atlantic pack did.

In this particular one were two watches with the following writing on the faces of each:


http://www.coloradoprospector.com/forums/index.php?showtopic=391&pid=3313&st=0&#entry3313

FerFal's book about life in Argentina after the 2001 economic collapse.
https://www.amazon.com/Modern-Survival-Manual-Surviving-Economic/dp/9870563457

In the book,he describes using gold chain links for currency when the banks closed.The links would be weighed and valued by the spot price. The point is,gold never goes to zero.

https://ferfal.blogspot.com/

How did the buyers of the gold know what the gold content of the links was? They could be 24K, 18K, 10K, and so on.

 

[McKnight55]

Look for markings on the piece. Typically, gold jewelry is marked with a number plus the letter K, to signify the karat purity. So, 10K is 10 karat gold and 24K is 24 karat gold. This will typically be on the clasp for necklaces and bracelets, on the inside of a ring and on the post of earrings.

https://oureverydaylife.com/how-to-find-out-how-many-carats-are-in-gold-chains-12302423.html

 

[Flash]

Look for markings on the piece. Typically, gold jewelry is marked with a number plus the letter K, to signify the karat purity. So, 10K is 10 karat gold and 24K is 24 karat gold. This will typically be on the clasp for necklaces and bracelets, on the inside of a ring and on the post of earrings.

https://oureverydaylife.com/how-to-find-out-how-many-carats-are-in-gold-chains-12302423.html

I know that, but what I'm really saying is how do you know the markings are real and haven't been altered. For that matter, how do you know it's even gold? It's easy to buff the markings off and re-stamp, then smooth them out.

 

[Boriqua]

Look for markings on the piece. Typically, gold jewelry is marked with a number plus the letter K, to signify the karat purity. So, 10K is 10 karat gold and 24K is 24 karat gold. This will typically be on the clasp for necklaces and bracelets, on the inside of a ring and on the post of earrings.

https://oureverydaylife.com/how-to-find-out-how-many-carats-are-in-gold-chains-12302423.html

I know that, but what I'm really saying is how do you know the markings are real and haven't been altered. For that matter, how do you know it's even gold? It's easy to buff the markings off and re-stamp, then smooth them out.

You cant at glance tell the difference between 10k and 14k but it is glaring the difference between say 14k and 22k. Still .. I think only the smelter knows for sure.

 

[Flash]

You cant at glance tell the difference between 10k and 14k but it is glaring the difference between say 14k and 22k. Still .. I think only the smelter knows for sure.

I know. My Dad did part time Jewelry work for most of his life and I got to know gold and Diamonds pretty well for an amateur, much better than most people.

Not well enough that I'd plunk down my money on my judgement though.

 

[xerts1191]

+10 All About Control

 

[Boriqua]

You cant at glance tell the difference between 10k and 14k but it is glaring the difference between say 14k and 22k. Still .. I think only the smelter knows for sure.

I know. My Dad did part time Jewelry work for most of his life and I got to know gold and Diamonds pretty well for an amateur, much better than most people.

Not well enough that I'd plunk down my money on my judgement though.

I dig it but .. Now I may have read to many books of fiction and seen to many movies but .. if the airmen goes down in some remote location and the choice of his locators/captors is take what looks like immediate reward to keep their mouth shut and offer basic support like first aid or a map and some instruction .. or get a fruitless pat on the back from some government entity for turning him in ...Im not so sure they break out tools to confirm the gold content.

There are still a whole lot of places that don't have formal government as a part of everyday life. If a gold coin or other shinny object can get you a meal, some bandages a bed and a place to lay low ???

 

[McKnight55]

[I know that, but what I'm really saying is how do you know the markings are real and haven't been altered. For that matter, how do you know it's even gold? It's easy to buff the markings off and re-stamp, then smooth them out./quote]

Have you ever been in one of those "We Buy Gold" shops ? They make a living knowing the difference. I'm not sure how they do it.

 

[Ballistic Therapy]

Some have a machine they put it in that tells the quality of the metal.
Most use an acid test. They rub the gold onto a stone and them put a drop of usually hydrochloric or nitric acid on the rub and see what color it turns.