Poor Puerto Rico. Just when it thought it would gain the national spotlight it so desperately needed, a madman stuck a gun out a window and diverted the nation’s attention.
There’s a devastating problem on the hurricane-stricken island… a problem we must all know about.
It’s one that could very well affect us all.
It may even get you killed.
It’s no secret that Puerto Rico is without power. Some 95% of the island was taken off the grid.
And when the grid goes down, so does the technology our economy has learned to live on.
When the lights went out, so did the banks… so did the credit cards… and so did any money transfers from the mainland.
In a world that’s increasingly becoming cashless, old-fashioned greenbacks have become a prized asset on the island.
Digital Rich… Analog Poor
“You’re broke even if you have money,” said Juan Jimenez as he peered into his bank.
It was closed… and he had no cash.
His paycheck was still digital, and his pockets were empty.
Most folks on the island had just a few $20 bills in their wallets before the storm. Now, when a bag of ice costs $8 and cigarettes are going for $10 a pack, nothing is left.
All the digital cash in the world won’t do you a bit of good when the world goes analog.
It’s with that idea in mind that we scratch our head and wonder just why in the world countries are so determined to go cashless…
In what we’re convinced is merely the opening act for a bigger event here in the States, reports are pouring out of Sweden this week about its intent to go all digital.
Get this. A full 900 of the country’s 1,600 banks… no longer accept cash. They don’t even have a place to store it.
Most citizens – like the good sheep they are – are okay with the idea. It’s easier. They don’t have to worry about going to an ATM or cashing their paychecks on Friday.
They simply carry a piece of plastic. The system will take care of the rest.
What could go wrong? (We’ll let our readers from Puerto Rico answer that question.)
Big Government’s Big Break
Despite the obvious flaws, governments love the idea of a cashless economy.
Oh yeah, the big bad wolf has caught the break of a lifetime. Its dinner is walking right up to its mouth and sniffing its fangs.
In a cashless society, the government’s fat hand gets to play a role in everything.
It makes the transactions happen… it keeps things secure… and, oh yeah, it gets to monitor – and tax – every transaction.
But even better, it gives the government full authority over the economy.
That’s the idea that takes us to the full truth – the real reason cash is being eliminated around the globe.
You see, Sweden is doing something most thought was impossible just a few years ago. Its central bank took its key interest rates into negative territory… and has held it there far longer than imagined.
Even worse, the country’s leaders say “that there is still a greater probability of the rate being cut than of it being raised in the near term.”
If cash still ruled the streets, this powerful move would be impossible.
But with digital money, anything is possible – except, of course, true freedom.
We’ll be quite clear. This trend is dangerous.
It gives the government and its chosen corporate partners immense new control over our lives.
Most folks won’t think twice about a trend that makes their lives easier and cheaper. That’s just the way their keepers want it.
But when trouble strikes – and let us count the ways it could – the system will create immense pain.
Just ask the poor folks in Puerto Rico.
Sadly, we’re convinced America is going to follow in the footsteps of Sweden and a host of other European countries. In fact, my research says it could start here with an announcement on December 13.
In what could be one of Washington’s biggest power grabs yet, our nation’s move to a cashless society will cost you your freedom and potentially your wealth.
But there’s still some time to prepare and even profit from the news that’s coming in 70 days.
All the details are in my latest presentation. Click here to watch it.