“Grocers are under pressure, in an already thin-margin business, to cut costs and make the shopping experience more enjoyable for customers.”
“Several major Indian banks have suspended the accounts of top Bitcoin exchanges in India. State Bank of India, Axis Bank, HDFC Bank, ICICI Bank, and Yes Bank cited suspicious payments in their decisions. The move comes after tax authorities sent notices to cryptocurrency investors warning that they must pay capital gains on their income from the virtual currency. For the few accounts still open, the banks have asked for more collateral, and have capped cash withdrawals.”
Read more: https://dowbit.com/indian-banks-freeze-major-cryptocurrency-exchange-accounts/
“Yes, the blockchain is truly revolutionary. Yes, bitcoin is Tulipmania 2.0. Yes, cryptocurrency is a nail in the coffin of the bankster parasites. Yes, digital currency is a tool of the totalitarian tyrants. No, these statements are not contradictory. But don’t worry if you think they are. You’re just a victim of ‘The Bitcoin Psyop.'”
“Israel is considering offering a national cryptocurrency– a digital shekel – which would correspond in value to physical shekels. Additionally, the government is considering legislation that would substantially reduce the amount of physical cash in the economy. For example, one suggestion would be a law against paying wages in cash.”
Read more: https://cointelegraph.com/news/israel-government-considering-national-cryptocurrency
“In the most ironic story of the day, the company that makes the paper that Swiss banknotes are printed on was just bailed out by the money-printing, stock-purchasing, plunge-protecting, savior-of-global equities…Swiss National Bank.”
“Marvin Goodfriend thinks there should be a robust negative interest rate placed on cash. For example, if there was a -10% interest rate on cash, your $10 bill would actually be worth only $9. It is basically a penalty for using cash. The excuse is that this will stabilize the economy by keeping more capital in the banks. It means banks, and by extension, the Federal Reserve, have more control over your money. The gold standard, Goodfriend argues, was also an encumbrance on monetary policy, ‘destabilizing’ prices.”
Read more: http://www.thedailybell.com/news-analysis/warning-trumps-federal-reserve-pick-hates-gold-and-cash/
“He only got a $25 ticket for improperly wearing his seat belt and a warning for ‘lane use.’ But Wyoming law enforcement officers found and eventually seized the $91,800 in cash, as it was hidden in a speaker cabinet — by getting Parhamovich, under what he claims was duress, to sign away his interest in the money through a waiver. He has since tried to get his money back. But state law enforcement officials have rejected his pleas. Responding to a request for records related to Parhamovich’s case, state officials said they consider the cash ‘abandoned.’ The state has even moved to forfeiture the money without notifying Parhamovich of the relevant court hearing until after it happened.”
Read more: https://www.vox.com/policy-and-politics/2017/12/1/16686014/phillip-parhamovich-civil-forfeiture
“As decades have passed since the fall of the Soviet Union, romanticism is deep-sixing the bitter facts of the lives people in communist regimes were forced to live. But any economic system that forces lions to go vegan should never be forgiven.”
Read more: https://mises.org/wire/daily-hell-life-soviet-bloc
“Venezuelans living with hyper-inflation and a scarcity of cash for buying daily goods will soon have the country’s largest paper bill circulating in recent history. The country’s president announced Wednesday that the new 100,000- bolivar note will hit the streets this week. It will be worth less than $2.50 in U.S. currency in black market dealings. In a nationally broadcast appearance, President Nicolas Maduro held up the new paper bill, while also unveiling a 30 percent boost to the minimum wage. The new denomination is stop-gap measure in an economic plan by Maduro’s government aimed at doing away with the need for paper money.”
“After the gas station went under, and Kwon’s wife died amid the stress of it all, after he moved from his neighborhood in shame and the Internal Revenue Service changed its policy so no other small business would get steamrolled this way — the agency won’t give Kwon his money back. That’s $59,117.47 the IRS is holding on to. As recently as August — the last time Kwon, now 73, asked for his money back — the IRS said no. He’s heartbroken that the country he loves is treating him this way.”