Originally the term “Deep State” was coined to describe various anti-democratic coalitions within the political system of Turkey (Turkish: derin devlet). In them meantime the term is widely used to describe all types of “state-within-the-state” type arrangements, the real power behind the throne, so to speak.
Some of them are familiar government hacks and politicians. Some, largely anonymous, are in the private sector. And some represent foreign governments, foreign businesses (notably banks), and foreign organizations.
These zombies and cronies – who number in the thousands – have much more power and authority than 100 million voters. Research shows that if they want legislation, they get it.
Voters, on the other hand, get what they want only rarely… and probably only because the insiders want the same thing. The insiders get the money, too. The tens of trillions of dollars diverted into boondoggle bailouts, QE, and ZIRP, for example – they had to go to someone.
And now the Deep State is setting itself up to get even more…
There are “cash deposits” and there is “cash.” Cash deposits are an oxymoron. If you say you have cash in the bank, you are mistaken. The bank doesn’t really hold “your” cash. It owes you money. If it goes broke, you’ll stand in line with other creditors to get it (subject to whatever guarantees may be in place… and however well they may work).
Cash in hand is different. It is physical. Paper. You can do what you want with it. And you don’t pay a negative interest rate. Which is why the feds want to ban cash. They say it will make it easier for them to stimulate the economy.
As long as you can hold physical cash, you have an easy way to escape negative interest rates: You just take the money out of the bank and put it in your home safe. But if physical cash is illegal, you have no choice. You have to keep “your money” on deposit at the bank… and take whatever negative rate the bank imposes on you. …