Citibank Buys $1Billion in Gold From VenezuelaBy Joshua Krause However, the big banks dont see it that way. Last week, the financial community was shocked to discover that JP Morgan has accumulated 55 million ounces of silver since 2012, with 8 million of those ounces being purchased in the past few weeks. Do they know something that the man on the street doesnt? Well yes actually, they do. Right around same time JP Morgan started their latest silver buying spree, their CEO flat-out told his shareholders that: Of course, JP Morgan is not alone. Citibank recently announced that they were going to swap $1 billion for a portion of Venezuelas gold. Nicolas Maduros cash-strapped regime is so desperate for revenue, that theyve agreed to pawn 1.4 million ounces of gold, which amounts to $714 per ounce. Surely they arent doing this out of the goodness of their heart. They know that that bankrupt nation will never be able to buy it back, and in all likelihood the price of gold is going to increase as soon as the latest stock market bubble pops. Theyre about to make out like bandits. They also have a little-known ace in the hole. Last week I wrote about an economist from Citigroup (which is, of course, the same company that owns Citibank) who expressed his desire to get rid of cash entirely. By ridding the world of paper money and forcing all transactions to become digital, theyll be able to enforce negative interest rates on everyone with a bank account. I explained that this move would backfire on the government and the banks, because people will always need a way to save their money. And if saving money in the bank means that youll really be losing money, then most logical people will start buying real world commodities with inherent value. That would most likely include gold and silver, and in the long run it could end up fueling the black market. However, I may have spoken too soon when I suggested that these banks dont understand the consequences of banning cash. Now I think they know exactly what theyre doing. They know that the government would love to have a cashless society, because it would make it so much easier to track and tax us. So theyre going to let the politicians do the dirty work for them with legislation, while they position themselves to profit from the aftermath. If our society goes cashless, then there will be an exodus from the dollar, and into physical gold and silver. They know its going to split our economy in two. There will be the legitimate economy that deals in traceable digital currencies, and there will be a massive informal economy that deals in gold and silver. When the cashless society arrives, they will profit in both arenas. Theyre going to make a ton of money by imposing negative interest rates on the cashless dollar, and theyre going to profit even more on gold when the dollar exodus causes its value to go through the roof. They are in short, setting themselves up to dominate every facet of the future global economy. Joshua Krause is a reporter, writer and researcher at The Daily Sheeple, where this article first appeared. He was born and raised in the Bay Area and is a freelance writer and author. You can follow Joshuas reports at Facebook or on his personal Twitter. Joshuas website is Strange Danger. 