"In the last 24 months, Canada, Cyprus, New Zealand, the US, the UK, and now Germany have all implemented legislation that would allow them to first FREEZE and then SEIZE bank assets during the next crisis.
These moves will be sold as “for the public’s good,” when they happen. But the reality is that it’s all about stopping people from moving their capital into actual physical cash."
..."This is just the start of a much larger strategy of declaring War on Cash."
http://www.zerohedge.com/...
I'm confused, I thought that QE and fiscal deficits (DEBT!!!!!!!) were evil Govt manipulations of the monetary system that would lead to fiat currency collapse and hyperinflation. And now those idiots are complaining that the big bad Govt is going to prevent them from getting their Govt fiat out of the bank. Its just little pieces of paper anyway, not a real man's currency like gold bricks or something.
This is another perfect example of why Govt IOUs are on the top of the money pyramid, we are on the US currency standard. The thing that makes the entire private banking system run smoothly even in times of crises is the guarantee the Govt makes that keep commercial bank IOUs trading at par with Govt fiat. Instead of bank customers having piece of mind because they can always withdraw their deposited value worth of commercial bank promises in gold or gold certificates, now you get something even better, US Govt tax credits in paper form. Your welcome.