A Cashless Society. The Hidden Threat to Your Liberty

Published: Feb. 11, 2016, 5:17 p.m.

Today we're going to build off the conversation I had with you on Tuesday when we talked about the fracturing of the banking industry. As central banks continue to struggle in their efforts to increase inflation, they are turning to extremely dangerous policies, namely NIRP or Negative Interest Rate Policy.The problem with this is as they continue to drive interest rates into negative territory they are not getting the desired effect. They are using outdated and proven failed economic policy in an attempt to drive up inflation through consumption.It's an old belief that consumption drives an economy. We know this is not true through years of policy failings. What drives an economy is production. Production is fueled by the abundance of stored capital we have saved. But we have no savings. We have trillions of dollars in debt and central bankers refuse to accept one simple truth. THERE IS NO WAY OUT.There is no solution to this crisis that does not involve a great deal of pain. The longer we continue to pursue policies that suggest otherwise, the more painful the fix will be. This is a MUST LISTEN episode. Your understanding of these issues is critical if you want to be prepared.JasonSupport the show.