Billionaire Jim Rogers forecasts a day when cash is gone and governments monitor every aspect our your spending
Billionaire investor Jim Rogers spoke with an organization known as Microvoices last week, and forecasted a dire future where people will no longer have access to physical cash, and governments will control and monitor every aspect of their spending and saving.
The time will come when you won’t be able to buy a cup of coffee without being traced, warns investment guru Jim Rogers. To control people, governments will increasingly seek to hunt down cash spending, he adds.
¬†‚ÄúGovernments are always looking out for themselves first, and it’s the same old thing that has been going on for hundreds of years. The Indians recently did the same thing. They withdrew 86 percent of the currency in circulation, and they have now made it illegal to spend more than, I think it’s about $4,000 in any cash transaction. In France you cannot use more than, I think it’s a ‚ā¨1,000,‚ÄĚsaid¬†Rogers in an interview with MacroVoices Podcast.
‚ÄúMany countries are already doing this. Some states in the US you cannot make cash transactions above a certain amount. Governments love it. Then they can control you. If you want to go and buy a cup of coffee, they know how many you drink, where you buy them, etc., if they can all put it into electronic formats and they will. The world is all going electronic,‚ÄĚ¬†the investor said.
According to Rogers, governments will claim they are doing it for the public good, not for themselves.
¬†‚ÄúWhen it’s done, the governments are going to be very, very happy they are going to say they’re doing it for our own good, this is not them, this is for our good. That they’re doing this, but it‚Äôs coming, and it’s going to be a whole different world in which we live. Probably we are not going to have as many freedoms as we have now even though we are already losing our freedoms at a significant pace,‚ÄĚ¬†Rodgers told the radio program. – Russia Today
Indeed, the War on Cash that is being waged by both central banks and by governments is a combination of trying to usher in a one world monetary system, while at the same time trying to save that system from the sins of their debt creation. ¬†And to date this has so far had mixed success, with certain areas of the world voluntarily going cashless (Sweden), while others (India) are fighting hard to reject government intrusion on their right to spend, save, and invest as they see fit.
In the end both central banks and government authorities know their monetary systems are once again on the brink of collapse, and all it will take is a slight shift in confidence for the entire structure to come tumbling down. ¬†And it is why they are fighting very hard to try to eliminate and ban physical cash, because the greatest weapon the people have against this tyranny is to pull their money out of the banks, and simply take their ball and go home.
Kenneth Schortgen Jr¬†is¬†a writer for The Daily Economist, Secretsofthefed.com,¬†Roguemoney.net, and Viral Liberty, and hosts¬†the popular youtube podcast on Mondays, Wednesdays and Fridays.¬†Ken can also¬†be heard Wednesday afternoons giving an weekly economic report on the¬†Angel Clark radio show.