Babylon's Bankers

50 BILLION POUNDS OF BANKNOTES MISSING

This very high-octane-speculation-worthy story was spotted by many folks here, so thank you to you all for passing it along. I'm going to be using the version of the story sent in by T.M.(again, thank you) for this today's foray to the end and off of the twig of speculation.

The story concerns a cool missing 50 billion pounds of banknotes... pounds as in "pounds sterling," the value not the weight of the missing money:

£50 billion in U.K. banknotes is 'missing.' Nobody has an explanation

Pictured at the top of the article is photo of several fifty-pound notes, with the picture of H.M. Queen Elizabeth II, and I have an observation about that. Other than her hair having turned gray, why is it that she looks not all that much older in real life than she does on British banknotes? Are we looking at some sort of real life twisted version of the "Picture of Dorian Gray" on banknotes? (And I'm only 95% joking... it's the other 5% that has me wondering...)

But I digress.

What's really interesting here are the implications of the story. Consider this:

The use of cash has been declining for years in Britain, but demand for banknotes is skyrocketing. Nobody is quite sure where the money is going.

A group of U.K. lawmakers said on Friday as much as £50 billion (US$67.4 billion) in cash was "missing," and it urged the Bank of England to investigate.

The money is "stashed somewhere but the Bank of England doesn't know where, who by or what for — and doesn't seem very curious," Meg Hillier, chair of the House of Commons Public Accounts Committee (PAC), which oversees government finances, said in a statement. "It needs to be more concerned about where the missing £50 billion is," she added.

The Bank of England immediately pushed back. "Members of the public do not have to explain to the Bank why they wish to hold banknotes. This means that banknotes are not missing," a spokesperson said in a statement, adding that the central bank would continue to meet public demand for notes.

Despite the increased use of digital payments, demand for cash has risen in most advanced economies since the global financial crisis, according to a 2018 report by the Bank for International Settlements. This has been partly driven by lower interest rates, the report said, which have diminished returns on savings held with banks.

"We are seeing the increasing use of cash as a store of value, as opposed to for transactional purposes," chief cashier at the Bank of England Sarah John said in testimony before the Public Accounts Committee in October. Worries about the strength of financial institutions since the 2008 crisis have also contributed to this, she added.

And while there was a sharp decline in demand for notes and coins during the peak of coronavirus lockdowns this year, it has since recovered, with people stockpiling even more cash at home as a result of the pandemic. (Emphasis added)

It's that italicized sentence in the quotation above that caught my eye, as one might imagine. For it prompts a question: Since when has cash currency been held as a store of value? Normally when one thinks of "stores of value" one thinks of gold or silver, sometimes though rarely, art collections, and so on.  And it prompts another question: why would people be storing currency as a store of value?

The article's partial answer comes in the last statement in the quotation above: people are "stockpiling even more cash at home as a result of the pandemic." Well, perhaps. The answer does contain a certain logic. With all the lockdown insanity from various governments, one can hardly blame people for wanting to have a medium of transaction if - for whatever insane reason - banks are deemed "non-essential" businesses and are locked down. Or if for whatever reason ATM machines should be shut down for being "spreaders" of the virus in the latest spin of the planscamdemic.

I submit that the article's logic thus has a partial truth, but that that logic itself hints at something much deeper. With all the talk out there from Mr. Globaloney and Mr. Central Bankster  via their chosen front man, SPECTRE's Dr. Ernst Stavro Blohf... er.... Klaus Schwab about "great resets" and "digital currencies" and limiting access to stores and even jobs to those who "take the vaccine," I suspect the reasons for cash hoarding run much deeper, and  I suspect that one of the largest reasons is that people are simply waking up to the dangers of a digital "currency". Catherine Austin Fitts has point out many times, and I wholeheartedly concur, that digital currencies of a central bank - regardless of what "backing" is claimed for them - are simply "corporate coupons" and not currencies at all. One spends corporate coupons at the corporate store, buying the corporation's goods. And with a digital system, the "money" in your "wallet" in such systems can have its value "adjusted" at any time. Couple that system to a "social surveillance" platform, and your money can fluctuate in value depending on "how well you behave" in support of Dr. Blohf...er... Schwab and his regime.

So why hoard banknotes? Because in a system where everything goes digital, as I've insisted several times (often in interview with Ms. Fitts), people will seek out a physical medium of exchange that bypasses the banks and their digital systems completely. And that means the old currency will be hoarded, not as a store of value, but much more importantly, as a store of an independent and anonymous means of transaction which grounds the value of those notes.

In short, and to put it as "country simple" as possible: you're already watching a revolt against the best laid digital currency plans of Mr. Globaloney.

See you on the flip side...

 

37 thoughts on “50 BILLION POUNDS OF BANKNOTES MISSING”

  1. How long will IT be when People …just figure out …that you just bypass the government’s ALL OVER the World & just “transact” among ourselves?¿? …Life/People ALWAYS figures “stuff” out folks (why do ya think “they”😈 are trying soooo hard ta “change” US )

    & there IS something ABOVE these “kooks”😈…something that no matter how hard or what “they”😈 TRY …life throws “them”😈 an curveball? Y do you think “they”😈 are so hellbent on keeping US in the dark ¿ ….civ after civ after civ after civ have TRIED ta wrest control from something ABOVE ??? & IT ALWAYS fails humm right ?!? or “they” 😈would ALREADY have had US in total lockdown by now ….it will fail again , people /life 😀just have an funny way of figuring “stuff” out 😁

  2. all western countries (perhaps also china and other great nations) are going ALL in same direction, the bill notes for many reasons will be for them the start of the end because capitalism in on the verge of a cataclysm which bring the whole world in a irrecoverable situation. Seen that the capitalism despite all the form of liberalizations acted is going to an armageddon because unsustainable (the debit is impossible to be fixed because the numbers are also un nominable and irrecoverable and the people will pay the consequences of criminal behavior of ALL THE SYSTEM which are connected with speculators with no scruples, Soros and friends of all sorts).
    The smart governments as Russia understood things when started to buy gold in enormous quantities. Usa which conserved gold for many nations are unable to make do controls to the owners of the gold (Italy, Nederland Germany, etc… in immense quantities!!), because gold disappeared and the Fort Knox reserves containing only lead…….
    The world of gold market is, as all the markets, affected by thieves, robbers, slaughterers and criminal of all sorts.
    My opinion is for all to buy gold, phisic gold and not certificates from robbers of city of london (which are also not punishable for the laws into the city of london, same of all the financial entities which are committing crimes of all sorts from centuries).

  3. I think Dr. Farrell’s analysis is “spot on,” though I would add to it some of the things other commenters have noted: fear of bail-ins, bank failures, and ATMs being removed. I know that ATMs are becoming more and more scarce in some places.

    But for sure, as Mr. Globaloney tries to force everything to go digital, people are going to find ways to transact with each other outside the digital control grid. It will probably start with cash, then transition to all sorts of other things–precious metals, jewelry, collectibles, food items, anything there’s a shortage of, direct exchange of goods for services, etc.

  4. na, they just remember the toilet paper shortages earlier this year when people like me hoarded (I still have not stated on that new stockpile yet) and they know about the hyperinflation of the Weimar republic.
    I doubt cash will be anonymous for long.. did you get the cash from an ATM, is has a serial number linked to your name. Contact tracing by COVidiots will match you to most people you give that marked note to. the Vaccine tracers inside you will take care of the rest. How To Barter in a Mask for Dummies would be a good book to write now.
    still $1000 for each man woman child in Britain, I doubt that most people have liquid savings of that amount.
    https://www.zerohedge.com/economics/82-americans-say-they-couldnt-afford-500-emergency-thanks-covid-19
    and it does not hold a candle to the $21 trillion in 0’s and 1’s money that went missing from the Pentagram.

  5. Since the billionaires’ accounts I think a digital any hacker could wipe out their accounts with a computer. Which means any street beggar would have more real money day to day on them than any of these so called wealthy people. The super-rich live in a dreamland.

  6. Money is not safe in the bank. Withdrawing it means at least you have something to show for it. Plus reducing your cash balance means you have less in the bank for them to steal. Remember the Cyprus bail in 2013? People queued round the block to get their money out. 10k was the most you could withdraw. Its also maybe a reaction against the cashless push which the media says is because ‘everyone is using contactless’ so people revert to cash to keep it in circulation.
    In any event, it seems to me its well nigh impossible to protect all your assets especially if you become jobless and they want everything you own in return for UBI. They will simply confiscate what you have when they feel like it. You can only keep cash for so long before they get rid of it. The BoE is targeting ’25 for roll out of the digital currency. Corp greed and lawlessness is now at the point where they have given themselves permission to basically help themselves to your bank account and they ignore any efforts on your part to get it back. Its not just banks either; its utilities, supermarkets – any of them with access to your account. Pay attention to your bank statements!

  7. I am not at all sure about the ‘official’ story on this one. If TBOE wanted to stymie cash hoarding for any reason (and since when has THAT been an illegal thing?), all they would need to do was to issue some new banknotes and call in any old ones.
    The purported shortage/unaccountability of notes hints that they are going after the ‘black economy’ of casual cash deals which don’t incur taxes or scrutiny, because now EVERY transaction must be available to the surveillance agenda.
    I used to think that that the cashless world could not be possible because much of the profitable side depended on cash transactions, namely drugs, prostitution and gambling. But I’m clearly old fashioned and the digital cashless crime game has moved on.
    I think TBOE just wants to demonise cash by implying even holding notes suggests you are up to no (common) good.

  8. Missing Sterling? . . . Haven’t seen it around here. . . Not going to be looking for it anytime soon, either. . . Do have a few Pound notes from the eighties along with a few Japanese Yen. Keeping them for posterity and reminders of the good ole days one lived in those countries. Still wish one learned Japanese. Always thought katakana, hiragana, and kanji were stylish. Didn’t realize, at the time, how useful it would have been as it would have set the stage for Chinese in today’s trying times.

    Suspicions are that those pound notes went missing in a similar fashion as those trillions in DC. Then again, it could be folks instigating money talk trying to threaten those hoarders of cash bills for quick transfers with a slant toward the nefarious.

  9. The use of cash has been decline; but the demand but demand for banknotes has been skyrocketing. Using cash as a store of value[savings?]; rather than for than as transactional purposes.
    Lawmakers are asking where the 50 billion went.
    Bank of England says it’s there, but doesn’t know where?[under the Brooklyn Bridge?]
    Digital currencies of central bank aka corporate coupons, for the company store. Digital currencies can change value willy nilly; plus, become tied to a China Syndrome aka a social credit system.
    People don’t want to invest their hard-earned money to go towards the enslavement of themselves, their families, and what little is left of their so-called countries.

    1. The enemy of the people are those in control of their so-called media, government[national, state, and in some cases local], and other organizations[tied into an international control grid].
      This grid extracts wealth from local locations and transfers it to the international control grid; ironically feeding the monster that is eating up their local communities.
      This international grid of power/control brought the world covid1984. And that is just the beginning of a beautiful new relationship; albeit totally one sided, and technocratically – hell on Earth.

  10. Any reference to ‘GCHQ’s Friends, Family & Victims Plans are purely intentional. Any suggested interaction between esquires of the British Accreditation Registry will be accepted from the rear platform of Mr. Peabody’s high speed rail Gold Train but only when its deionized and visual.
    Today’s musical & movie reference is brought to you by combining a John Prine chorus from his song Sam Stone with a Umbrella Corp movie org chart from The Avengers remake …

    “There is a hole in daddy’s arm, where all the money goes … little pictures have big ears … sweet songs never last long on broken radios …”

  11. One more narrative that does not line up with what is more likely to be reality – let alone what is possible to be reality.

    https://www.bit
    chute.com/video/BjGHrsJxbBw/?list=notifications&randomize=false
    80. DID IRAN & ISRAEL CO-OPERATE ON IRANIAN SCIENTIST ASSASSINATION?
    WATCH

    1. Deep state operatives are TRANSnational and in every state, gov’t, race, continent, political party, economic group, religious org etc. Don’t believe all their rogue scholarship.

  12. (Interesting; my post just vanished. Probably a ‘forbidden’ word nestled-in somewhere. Possibly the ‘c0on’ in “coc0on”? Let’s see…)

    I am probably an outlier, but I ‘hoard’ some cash simply to pay everything I can in cash. Simply put, I am stubborn. I read daily about how every digital transaction is subsumed into various for-profit databases. For example, everything which I purchase at Amazon is saved in a database and used to form a ‘coc0on’ of possibly-desired purchases for me. Not acceptable. (And that’s just the ‘public’ uses…)

    So, I ‘hoard’ a small wad of cash. Food purchases get paid in cash. Car repairs get paid in cash. Electronic goodies get paid in cash. Etc. Just because I am stubborn.

    If someone wanted to really track me, the above would be of little use. Fortunately, I am probably just a minion; not worth the effort. Plus, it gives me a small satisfaction to ‘stick it to the man’.

    Multiply this by a few million folks and yep, some cash is ‘missing’…

      1. ‘Black’ will be also be outlawed when the nut cases take over in January. I do something very similar to you since my wife and I have had our identities stolen 4 times in the last year and a half. The U. S. has become a ‘….. hole’ (trump’s language) but he failed to mention the u. s. in his diatribe against Haiti and other countries that were destroyed by the dems.

        1. Don B,
          A close friend in HR reports in state govt company of 4000 employees, they are coming up fast on half of the employees id stolen revealed by fraudulent unemployment claims. Kinda like Seattle a few months ago? At first suspected someone inside the administration leaked information. Working on sourcing the problem it has become so large and their tracings are going to one source of the problem that is even capable of such a problem: Google.

          1. Interesting. I dropped Google sometime ago and went to … well another search company. Thanks for the info. Having lived in cities all over the country and, for a time, cities outside of the country, we moved back to a small town in southern illinois thinking we were getting away from the problems, but these type problems exist everywhere. The only consolation is that we live next to a national forest which I explore on a regular basis. Wife? No. She doesn’t get off the sidewalk. lol Thanks again for that info.

    1. The infuriating part of the above is that it is just lazy coding on the part of the auto-mod programmers. In lay computer-speak, just program-in that (space)c0on(space) is to be deleted, and everything else is to be allowed. (In this case, “coc0on”.) One computer-code line per ‘bad word’; it is not hard.

      I would be ignored if I suggested the above to that firm, but Joseph and our site coordinator (together) might have a little punch. Just a thought…

    2. goshawks
      I too pay nearly everything I buy in cash.
      I too was thwarted by the c00n word.
      “They’re” probably stealing in so many ways; that they’re having trouble keeping track of so many fingers, in so many pies[like the relatively new covid1984 pie], that inevitably – their so many minions, are now stealing from “them” as well.

  13. Another possibility is that once a shift to digital money is mostly implemented, the cash serves as a familiar and temporary replacement currency should the digital values and transaction device operating systems go poof due to a cyber attack. How the cash reserves were parceled out would define the economic fabric.

  14. Fortunately the weight of paper money; as yet, does not determine it’s value.
    Or; for that matter,
    a wheel barrel full of cash – or two, three, four …

    But just give the countless covid1984 ops time to run their meat grinding objectives through world populations; to do the dirty work, they’ve been designed 4.
    White Rabbit

  15. Must be careful not to paint all digital money in the same picture.
    If a central bank creates a digital currency and puts no limit on it then they’ve just re-created the same old legacy system. Of course, this is what they would most likely want. Also it possibly enables electronic bail ins more easily or they could create coercive regimens such as airdrops of currency into someone’s account that may expire in a month unless they spend it. The list goes on and on.
    But, there are a lot of blockchain projects that have a digital currency attached to them that are created with a limited supply of that currency and in fact most have a deflation built-in. Many of these projects will be tokenizing assets to enable the fractional trading of these assets. For example, those gold reserves being held in Wyoming and Utah could be tokenized and people could then put them in their digital wallet and use them to buy and sell goods. Or hold as a store of value that can easily be exchanged.

  16. A means of avoiding a bank bail in? Here in Canada I believe the “bail in” limit is anything over $4000.00 (total of all your accounts) which can be grabbed or bailed in. Having multiple accounts won’t save you either.

  17. Meg Hillier? Blairite, Remainer, well-off family, was at Oxford. Others here probably know more about her background. This statement about “missing cash” seems technically inaccurate and she is too smart to have used it by accident. Sounds like a message of some kind to one of the oligarchical factions, or am I overly suspicious? Vaguely recalls Lord Blackheath’s out-of-the-blue assertions regarding huge amounts of money.

  18. Some pre-1971 Klaus Schwab background (from Russian Wikipedia):
    Klaus Schwab was born and raised in Ravensburg, in the family of a factory director. He studied at a grammar school.

    Klaus Schwab studied at the Swiss Higher Technical School in Zurich. He studied mechanical engineering. After graduation, Schwab received an engineering degree. In 1965, Schwab became a doctor of technical sciences (Dr. sc. techn.). Schwab also studied at the University of Freiburg, Germany, where he studied industrial economics. In 1967, he received his doctorate in economics (Dr. rer. pol.). Schwab is also a graduate of Harvard University and holds a master’s degree in public administration from Harvard University.

    Translated with http://www.DeepL.com/Translator (free version)

    ***
    [original]
    Клаус Шваб родился и вырос в Равенсбурге, в семье директора фабрики. Учился в гимназии.

    Клаус Шваб учился в Швейцарской высшей технической школе Цюриха. Он изучал машиностроение. После окончания высшей школы, Шваб получил диплом инженера. В 1965 году Шваб стал доктором технических наук (Dr. sc. techn.). Шваб также учился в университете немецкого города Фрайбурга, где он изучал экономику промышленности. В 1967 году он получил степень доктора экономики (Dr. rer. pol.). Шваб также окончил Гарвардский университет и получил степень магистра государственного управления в Гарвардском университете (Master of Public Administration). https://ru.m.wikipedia.org/wiki/%D0%A8%D0%B2%D0%B0%D0%B1,_%D0%9A%D0%BB%D0%B0%D1%83%D1%81_%D0%9C%D0%B0%D1%80%D1%82%D0%B8%D0%BD

    1. Reminder to myself: avoid referring to non-English sources for the sake of scholarly accuracy. The French resources also got chopped out. Long live monolingualism! Sigh…

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