Hanging at highs.
A while back it was noted in these pages that there was something fishy about PM Modi's ban on cash in India. It's now sounding like the tip of the iceberg.
India seeks to digitally tag each of its citizens and herd them into the most in-depth biometric tracking system ever devised. Imagine your entire life managed by government cyber-authorities.
So what began as a test case on behalf of Washington NGOs and globalists, USAID, and BTCA (Better Than Cash Alliance), banning cash and pushing for "financial inclusion through digital payments" is really a blueprint for the entire planet.
Simply start with a billion poor and vulnerable people who have absolutely no say in the matter. Brilliant.
Using Aadhaar, the world's largest biometric ID system, a 12 digit unique-identity number will be issued to all Indian residents based on their biometric and demographic data, which is then collected and stored by the Unique Identification Authority of India (UIDAI).
Once people are authenticated by fingerprints and retina scans, they are then herded into the banking system using free life insurance and social welfare benefits as bait.
Oh, and the whole thing is designed to work on mobile phones, so they can locate you at any time.
All the usual suspects are in on it: Apple, Google, Microsoft, Samsung, and Qualcomm are developing Aadhaar compliant devices.
Even Skype is being integrated with the Aadhaar database. Goodbye anonymous video calling -- calls can now be "authenticated" calls.
When all is said and done, India could be a globalist paradise of "secured and connected systems" that store and share "personal data such as addresses, bank statements, medical records, employment records and tax filings and it enables the digital signing of documents. This is all accessed, and can be shared, via Aadhaar biometric authentication."
"Essentially, it is a secure Dropbox for your entire official life and creates what is known as eKYC: Electronic Know Your Customer."
As Bond scoffed at Dr. No, "World domination. Same old dream."
Keep an eye on India. I remain a bull, but these sort of things have me on high alert for what others may attempt elsewhere.
Sign o' the narcissistic times.
"I feel it coming" -- #5 on the Billboard Top 100.
USD firm. GBP giving up ground. CHF & JPY stronger.
Stall speed continues. If true, could soon telegraph some big issues for the markets.
WTI crude continuing its bounce within the wedge formation. NG lower.
All five majors -- red.
NDX still leads . . . while leaking leadership at new highs.
So far the gap at 2377.40 on the S&P cash has not been closed. Should see some buoyancy due to fresh 2nd quarter inflows, but the charts are looking hesitant from Friday. The S&P rallied to an exact 61.8% retracement of the decline from the March peak and sold off. Nothing was broken however.
Dow is the weakest. Markets feel in limbo with no clear edge.
Three Fed speakers today, one Tuesday, FMOC minutes Wednesday, and a final Fed speaker Thursday. Maybe the Fed is winding up its disinformation campaign for the time being.