Business

Those who think the War on Cash is a new phenomenon are missing the Big Picture.

The War on Cash has been unfolding since at least 2013 if not earlier. And it’s not really a War on Cash… it’s a desperate attempt to prop up failing financial institutions.

Let’s wind back the clocks…

Back in 2013, the small European country of Cyprus implemented a “bail-in.”

This means that the bank STOLE savings (cash) from depositors, to shore up its balance sheet.

Non-OPEC oil-producing nations struck a deal in Vienna on Saturday to cut crude output by 600,000 barrels a day, joining a pact meant to reduce a global oversupply of crude, lift prices and lend support to economies hurt by a two-year market slump.

The pact, the first between the two sides in 15 years, comes two weeks after OPEC agreed to reduce its own production by 1.2 million barrels a day.

Congress managed to wrap-up unfinished business on Thursday a day ahead of a government shutdown deadline. Both houses voted to approve a defense policy bill, which includes more than $600 million for missile defense cooperation with Israel. The Senate passed the legislation by a wide margin of 92-7, a week after the House overwhelmingly approved the measure 375-34. It now awaits the president’s signature.

Monsanto faces a multi-million dollar lawsuit from the state of Seattle over claims that the agrochemical giant are poisoning citizens and wildlife.  According to Washington Attorney General Bob Ferguson, PCBs used by Monsanto have polluted “every waterway in the state,” posing a massive health problem to residents. Seattletimes.com reports: Monsanto was the sole producer of PCBs (polychlorinated biphenyls) for commercial use in the U.S.

Submitted by Nomi Prins via TomDispatch.com,