I think coins have potential but money is not important if SHTF. Money is not useful to millions of dead people Society is getting too fragile, worldwide. Priority in SHTF should be how to get water, food, septic, electricity, fuel,… I don’t see how this can be done now.
Even if no SHTF people don’t have clean healthy water, air, food. Artificial chemicals kill. Needs to be fixed even if no SHTF. More important than banking.
Banks are retreating since 2007. Banking is becoming a commodity business. Laws and regulations are catching up with banks. Ivy League lawyers get rich attacking banks. Government prosecutors get famous by throwing them in jail or “deferred prosecution agreements.” The crash the past few weeks shows that there are still many idiots in finance. They may make a few bucks here or there but I would not recommend looking for a job in banking or finance. Focus on getting off the grid. Or buy a balloon to escape.
The most important need in banking is new theories with correct mathematics. Nearly as important is a pure electronic currency to terminate money laundering and funding of ISIS, drugs, terrorists, etc. All transactions must be traced worldwide. US $ must not be allowed out of the USA.
> On Sep 20, 2015, at 9:47 AM, Bob wrote:
> HI Joe, I love the humor. Banks can NEVER have enough “income,” well oops, I guess that’s the wrong word because IRS says they can never define “income” in title 26. It would be a problem with our Constitution so we just “don’t do it.” >
> Abolish cash (more voices)
> Banks have become honest and. gave up money laundering of cash. >
> Banks can make more money on swipe fees debit cards without fines and prison. >
> Consumers like cards unless SHTF very rare.
> Interest rates irrelevant to deflated 99% who lack savings. >
>> http://www.telegraph.co.uk/finance/bank-of-england/11874061/Negative-interest-rates-could-be-necessary-to-protect-UK-economy-says-Bank-of-England-chief-economist.html >>
>> Bank of England’s Chief Economist: Abolish the Use of Cash >>
>> Andy Haldane
>> The bankster tools continue to promote the end of cash.
>> In a speech to the Northern Ireland chamber of commerce, Andy Haldane, chief economist at BOE, said ending cash would help the bank to manage inflation by enabling it to bypass the current constraint against lowering rates below zero, reports FT. >>
>> Abolishing cash would remove the option for individuals to remove money from banks, if it ever instituted negative interest rates, he said. [I love that part] >>
>> He continued “perhaps central bank money is ripe for its own great technological leap forward, prompted by the pressing demands of the zero lower bound [on interest rates]”. >>
>> Halande is also thinking global. FT writes:
>> Highlighting the need for a government-backed electronic wallet, even if it no longer had the Queen’s head printed on notes or coins, he proposed a world without cash. “This would preserve the social convention of a state-issued unit of account and medium of exchange, albeit with currency now held in digital rather than physical wallets,” he said.
>> In addition to Halande, FT has recently called for the abolishment of cash, as has Citi Group’s top economist, Willem Buiter. And Bill Gates has dissed cash. >>