by Martin Armstrong, Armstrong Economics:
The cancelation of the Swiss currency is a serious issue for they are no longer legal tender already. Much of the 1,000 franc notes reside outside of Switzerland. They are replacing the notes with new ones which is in line with the problem with currency in Europe, to begin with. They are NOT eliminating all paper money as of yet. This practice in Europe prevents hoard of cash and compels people to come forward and explain where they got the money. The Swiss have been under pressure from the EU to cancel the 1,000 SF notes since 2013. The rumor is that this was prompted by Swiss’s largest insurance company, Swiss Life Holding AG and three of its subsidiaries just admitted to conspiring with US taxpayers to hide assets and income offshore. I do not think there is any real connection.
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Previously, in 1952, the national bank ceased issuing 5-franc notes but introduced 10-franc notes in 1955. In 1996, 200-franc notes were introduced whilst the 500-franc note was discontinued. The likelihood of redemption is nill if you are in the United States. I personally use to keep a few hundred dollars worth of most currencies for traveling purposes. What I had from India is worthless and now the Swiss. I suspect the Euro will be next and they will probably cancel at a minimum the 500€ notes since they stopped printing them since 2016 claiming they serviced financial crime.
This is simply the agenda. I have explained the Russian cancelation of 1991. There they accomplished two things. First, they restricted the amount of old notes you could even redeem to 1,000 rubles. Second, the Russian currencies were throughout Eastern Europe and those states broke away. Hence, it was outright canceling the currency outside of Russia.
After they are finished with canceling all the currency, next will be to eliminate all cryptocurrencies. Then the Democrats are planning the same. They are intending to do this in 2022 marketing it as the filth rich are hoard cash. About US $1,000,000 in $100 bills weighs around 22.046 pounds (10 kilograms). So $10 million is over 220 pounds. It is easier to buy art, rare coins, stamps, cars, and real estate.