No Place To Hide – Swedes Force Cash Out Into The Open
By Jack Minor
Developments in Sweden’s monetary policy, along with recent trends by banks to discourage cash transactions are putting individuals in a no-win situation where they can no longer hide or save their money, but are increasingly being “urged” to spend it to prop up failing economies.
Since July, the Swedish central bank has had an interest rate of -0.35%. Yes, you hear that right, negative interest. In other words, like gift cards that lose money each month they are not used, people who chose to be wise stewards and save their money in Sweden could soon be punished by actually losing money if they chose not to spend it; a “use it or lose it” scenario.
While the banks have not yet passed this negative rate onto their customers, this is not sustainable and experts predict it is only a matter of time before account holders see their balances shrink.
In the past, low interest rates that are not profitable have resulted in people removing their money from banks and “hoarding it,” however Sweden has made this logical move difficult. The banks have been taking steps to limit cash withdrawals by removing ATMs in rural areas. In addition, banks will call the police if they feel you are using too much cash.
One of the supposed reasons for forcing cash into the open is to combat money laundering and terrorism. However, economic experts have criticized those who save their money, saying by not spending they are hampering economic activity, thus blaming them for many of the economic woes their own governments have created through financial mismanagement.
The world has been in the midst of a global economic crisis for years, with nations facing various degrees of issues. Japan has long been in an economic slump, Greece is dealing with its own debt crisis, while in America the federal debt has risen to over an astounding $18.5 trillion.
To get an idea of how big a number one trillion is, if you were to go back in time one billion seconds ago you would be in 1979. However, if you set your time machine for one trillion seconds it would take you back to 29,700 BC, if you believed the evolutionist model for the age of the earth. The US national debt as it currently stands would take a person back to 534,600 BC.
Many of the economic problems are the result of government spending policies that spend more than they take in. As a result, central banks have had to lower interest rates to prevent governments with sizeable interest payments on their debt from becoming insolvent. For instance, if the Federal Reserve were to raise interest rates, the national debt would balloon overnight, possibly putting the nation into a death spiral where all income would need to go for debt interest payments.
Students of the Bible have long warned of a cashless society as part of the Antichrist’s plan for ultimate control over mankind. Many prophecy experts believe that what we are seeing as “encouragement” to go cashless will one day become mandatory so that no one will be able to buy or sell unless they have a mark of allegiance, often called the “mark of the beast”.
Some recent examples show we are already well on our way: a video on Reddit shows a Bank of America branch in California refusing a cash payment on a mortgage. In 2014, Chase Bank changed its policy to now refuse cash payments for credit cards, mortgages and auto loans. In addition, Chase prohibits using safe deposit boxes to store “any cash or coins.”