War on Cash – a Piece of a bigger Puzzle?

http://independenttrader.org/war-on-cash-a-piece-of-a-bigger-puzzle.html

For over a decade the World has experienced a peculiar kind of war – the war on cash. According to governmental propaganda, the noble reason behind it is the fight against money laundering and financing terrorism. Meanwhile, the involvement of the HSBC in the biggest money laundering for Mexican drug cartels scandal was swept under the rug. The bank never formally admitted anything. It had to pay a penalty but the fact is that no employee faced charges, not to mention any jail time.
Knowing the above, can you actually believe in the war on cash being waged against criminals? No. You simply cannot. There are two true reasons behind this:
Firstly, increasing control over the citizen. I wrote about it more than a year ago in this article - 'Attack on cash = more power for the state and banks'.
Secondly, a controlled reduction of the total debt has been rising since ‘70s but the huge jump was seen in 2001 when Keynes’ theory about spending government’s way out of a crisis became fashionable all over the world. No one had enough money in their budgets to do that resulting in an orgy of debt.
Easily available credit and low interest rates made authorities, corporations and consumers borrow faster than the economies grew. Finally, we arrived at the point where the total debt (public, corporate and consumer) equals 245% of GDP. It is an absolute record. On top of that it was partially the debt itself that made it possible for economies to grow in the last 15 years.
Today our economies exhausted this avenue where markets grow with the simple application of additional debt. Credit does not generate economic growth anymore as the scale of indebtedness and servicing costs outweigh any marginal expansion.
Institutions that control monetary system understand the above and now the focus is on the inevitable – debt reduction.

 More inflation here we go, because the inflationary escape from debt is the only escape they fathom. You know what to do....