Martin Armstrong writes.. There will be a cancellation of the €500. That is the rumor behind the curtain. I would convert them as soon as possible to small bills and/or US dollars. There remains a distinct possibility that we will see Europe try to cancel its currency and take up the IMF’ proposal to move toward a cryptocurrency. They are desperate for taxes and they will raise taxes even further. As far as cash is concerned, as we move into 2020, it is time to make changes.
Keep in mind that the United States has never canceled its currency. That is a common occurrence outside of the USA. More than 40% of the physical paper dollars circulate outside the USA. It will be a political difficulty to cancel the dollar. It will take a major economic crisis. The USA will be the last to do such a thing.
He further writes..We are witnessing police being converted into tax agents. This is no longer about protecting the public. It is about exploiting the public to fund government pensions. For every person who moves to retirement, the state then hires their replacement. Consequently, the cost of government is growing now exponentially on a global basis and this is the reason why we are undergoing a MAJOR Cycle Inversion in how the markets will react between now and 2032.
In Australia, they have been handing out parking tickets in your own driveway. In Australia, there are people who have figured out how to beat all these automated cameras. They clone license plates so other people get the tickets. In the USA, there have been major class actions lawsuits against automated cameras. In Cherry Hill, New Jersey, if you stopped but were 6 inches over the white line, you were still being given a ticket for running a red light. Then people making a right turn on a red were being given tickets for “rolling” rather than coming to a complete halt for at least 5 seconds. Other states are photographing your plate and then send you a ticket for whatever they can find or make up. Failure to have insurance is a popular one even if you have it, they know it is often cheaper to just pay it than spend all day in court.
This is no longer about safety or protecting anyone. It is just about raising revenue any way they can pretend to justify it. This is one component that illustrates how Western Society is collapsing. Governments are greedy and only care about raising revenue.
India has taken it one step forward…… they are raiding the capital buffer of central bank to cover the fiscal deficit