Economist Says It Might Be Time to Abolish Cash

[araomd]

?
Gives the government a way to track all money at all times....

http://www.bloomberg.com/news/artic...onomist-says-it-might-be-time-to-abolish-cash

 

[keith089]

that would cut out the US MINT and Treasury.......cool

 

[karlvv30]

Make it easier for the bankers to make fake money. Nice!

 

[Willy Leadwell]

Wow. Scary

 

[araomd]

"Cash therefore gives people an easy and effective way of avoiding negative nominal rates.
Buiter's note suggests three ways to address this problem:
#2: Tax currency"

Ummm, they already do this. The Fed explicitly wants a 2% inflation rate. Which means that every year, dollars I have saved buy 2% less.
That is alreay a tax on currency.

 

[Tony2X]

Chip time.

 

[Willy Leadwell]

Chip time.

Can't put that in a coffee can and bury it in the woods. Government is gonna get theirs one way or another.

 

[Jackie Graham]

Since there would be no need for the Green you can send anything you don't want my way. I will be happy to dispose of it for you.

 

[JamesG]

I have so Lira and Deutschmarks you can have.

 

[Jackie Graham]

My sister lives in Germany and she might be able to use them but not sure if you can still convert these to Euro.