The War on Savings: The Panama Papers, Bail-Ins, and the Push to Go Cashless

[marmar]

The War on Savings: The Panama Papers, Bail-Ins, and the Push to Go Cashless

Posted on Apr 13, 2016
By Ellen Brown / Web of Debt


The bombshell publication of the “Panama Papers,” leaked from a Panama law firm specializing in shell companies, has triggered both outrage and skepticism. In an April 3 article titled “Corporate Media Gatekeepers Protect Western 1% From Panama Leak,” UK blogger Craig Murray writes that the whistleblower no doubt had good intentions; but he made the mistake of leaking his 11.5 million documents to the corporate-controlled Western media, which released only those few documents incriminating opponents of Western financial interests. Murray writes:

Do not expect a genuine expose of western capitalism. The dirty secrets of western corporations will remain unpublished.

Expect hits at Russia, Iran and Syria and some tiny “balancing” western country like Iceland.

Iceland, of course, was the only country to refuse to bail out its banks, instead throwing its offending bankers in jail.

Pepe Escobar calls the released Panama Papers a “limited hangout.” The leak dovetails with the attempt of Transparency International to create a Global Public Beneficial Ownership Registry, which can collect ownership information from governments around the world; and with UK Prime Minister David Cameron’s global anti-corruption summit next month. According to The Economist, “The Panama papers give him just the platform he needs to persuade other governments, and his own, to turn their tough talk of recent years into action.”

.....(snip).....

War on Corruption or War on Savers?

What we may be witnessing here is the 1% going after the 10% of people who, according to German researcher Margrit Kennedy, do not need to borrow but are “net savers.” Today the remaining 90% are “all borrowed up.” Either they are unwilling to borrow more or the banks are unwilling to lend to them, since they are poor credit risks. Who, then, is left to feed the machine that feeds the 1%, and more specifically the 0.001%? The power brokers at the top seem to want it all, and today that means going after those just below them on the financial food chain. The challenge is in squeezing money from people who don’t need to borrow. How to legally confiscate their savings?

Enter bail-ins, negative interest, all-digital currencies, and the elimination of “tax havens.” ............(more)

http://www.truthdig.com/report/item/the_war_on_savings_the_panama_papers_bail-ins_20160413

[AgerolanAmerican]

1. Cashless + negative interest rates

basically a prescription for outright theft

negative interest rates will constantly deplete whatever money you have in the bank

and you can't protect what you got from negative interest rates by simply sitting in cash