by John Galt
October 24, 2012 18:05 ET
The local news story from WBBH NBC2 television in Fort Myers, FL below started me on the path of considering the last, final, desperate act after hyperinflation destroys the lives of the average American:
No big deal, happens all the time, right? The U.S. Secret Service is on top of the case and will bring the perpetrators to justice in this case as they usually do and thank goodness for that.
But what happens when one day soon, the counterfeiter turns out to be the Federal Reserve Bank of the United States? What happens when a citizen withdraws money from an ATM that is bogus or cashes a check at their local credit union only to unknowingly receive phoney 1’s, 5’s, 10’s, and 20’s? Worse yet, what happens when the counterfeit bills are so good, that nobody detects them initially until they receive widespread usage in the system then one, two, or three months later the “discovery” is announced to an unwitting public?
The initial advice everyone will receive is to “stick to using your bank cards, credit cards, or EBT cards for purchases until further notice until the bogus bills are removed from circulation. Such an action would force the remaining 20-30% who have resisted using non-cash methods for purchases into the system or face starvation. It would also give the banks an excuse to not issue paper currency due to the crisis until further notice. This would be the final act to force America into the long discussed cashless society and allow full monitoring of all economic activity by U.S. citizens anywhere in the world.
This step is so drastic it is unthinkable but it is 100% logical when one takes a moment to ponder the “how” of such an event. There are now approximately 1.697 billion debit and credit cards in use inside the United States of America (per the U.S. Census Bureau projected data for 2012). For those non-participants in such a system, the government would be more than happy to offer an immediate issuance of an EBT hybrid debit or credit card along with special banking privileges to be instituted through the largest Federal Reserve banks, thus ensuring that all parties make a profit on the forced inclusion of these citizens who have wished to live their lives “outside the system” in the words of the authorities for all these years.
I can only offer one bit of advice to my readers: Consider purchasing a portable counterfeit bill detector that works of batteries, something more substantial if one operates a business. I have found several practical devices which fill this need from Amazon.com and they are linked in the advertisement below with a price range of $20 to over $200.