You can't make this stuff up.
Citigroup’s Chief Economist Willem Buiter responds to the monetary economist Charles Goodhart’s description of abolishing currency as “shockingly illiberal.”(T)his cost has to be seen against the cost that the anonymity of currency presents to society. Even though hard evidence is hard to come by, it is very likely that the underground economy and the criminal community are among the heaviest users of currency.
This, I believe, is the hidden intent behind all the excited talk about banning cash: to do away with the personal anonymity it offers.Raging Bull-Shit
The “War on Cash” in 10 Spine-Chilling Quotes
Don Quijones
(Reposting of April 15, 2015 post at Wolf Street)
1 comment:
In places where there is no currency, crime vanishes. When the state doesn't issue currency, economic activity just stops and everyone holds hands and sings and rolls fat doobies instead. Please. Stop issuing currency and nothing changes but the currency that is used.
The real reason: Dems love nothing more than to stick-it-to the poor. They'll take away currency and force the poor to buy their campaign contributors, P-Diddy cash cards or Citi credit cards or Apple pay that come loaded with fees. Of the 537 billionaires in the US, 80% are Dems and you can be sure that they are looking out for the interests of the poor.
Post a Comment