Run On Banks As 72-Hour Mandate Forces Venezuelans To Turn In Large Bills: Strict Cash ControlsBy Mac Slavo Bank runs are happening in Venezuela, but not to pull money from the banks; rather, to get their 100 Bs. bills into the banks before a 72-hour time limit expires and the notes become outlawed currency that is no longer officially recognized. Long lines once again, and this time for the opportunity not to lose all the money that these struggling people have been saving up and safeguarding amid this insane and chaotic world of Venezuela: Mariana Zuniga (@marazuniga) December 13, 2016 [T]he government gave everyone a 72-hour countdown to turn in all their 100 bolivar notes before theyre removed from circulation. [] The 100 bolivar note, the highest denomination of Venezuelan currency, is currently worth about 3 cents on the U.S. dollar. But Venezuelas government announced on Sunday that it is removing the bills from circulating because theyre being purchased in bulk by international mafia groups that are allegedly trying to overthrow the struggling socialist government by hoarding money abroad and starving Venezuela of cash. [] Economists say another likely reason for Venezuelas cash shortages is that people are taking their increasingly worthless money to the border to trade it for dollars to buy essential goods. In Cucuta, a city on the Colombian border, hundreds of exchange houses buy bolivares from Venezuelans who cross into the neighboring country looking for shampoo, rice, flour and other goods that have become scarce in Venezuela thanks to the countrys rigid price controls. [P]eople lined up outside banks carrying plastic bags and backpacks stuffed with 100 bolivar bills to deposit into their accounts and convert into digital savings before the clock ticks down to zero. (emphasis added) It appears to be a two-pronged measure one to stop the impact of the hyperinflation of the currency that is being compounded by extremely limited ATM withdrawals, extremely large costs for basic goods necessitating bags full of money for simple transactions. On the second score, it is also a way to force everyone back onto the system, and to transform a peasants cash-based market economy into one operating digitally and inside the banking structure. There is growing dissent, anger and resentment; and the proliferation of the black market has made government controls futile but this strong-armed tactic will help re-centralize control. Interestingly, this restriction of cash isnt just happening in Venezuela where an economic collapse is underway, but in other places, too. Something bigger is in the works. India just issued a harsh crackdown on currency, and removed large notes from circulation to combat the black market (read: offgrid); now Australia has done the same thing, as the race to eliminate cash is accelerating. In the name of stopping black market transactions, they are forcing people onto a more tightly controlled grid. Michael Krieger (@LibertyBlitz) December 14, 2016 Things are taking a definitive direction on a global, cashless basis. Lets see how it changes things, and what can be done to resist the control it creates. Read more: Click here to subscribe: Join over one million monthly readers and receive breaking news, strategies, ideas and commentary. You can read more from Mac Slavo at his site SHTFplan.com, where this article first appeared. I can hardly wait until they try that here, although now that Trump has been elected I look to this being nothing now but a probable Sasquatch event. You know, its one of those things we keep hearing a lot about but well (hopefully) never actually see one either Enough hubris. People will do exactly the same thing here in America that Venezuelans are doing right now with the constrictor-squeeze the satanic social engineers are doing to them with inflation. Torches, pitch forks, tar and feathers required. 