Citi Economist Says It Might Be Time to Abolish Cash
http://www.bloomberg.com/news/artic...onomist-says-it-might-be-time-to-abolish-cash
http://www.bloomberg.com/news/artic...onomist-says-it-might-be-time-to-abolish-cash
(No Dash) Citi Economist Says It Might Be Time to Abolish Cash
- Thread starter tungfa
- Start date
- Abolishing currency will constitute a noticeable change in many people’s lives and change often tends to be resisted.
- Currency use remains high among the poor and some older people. (Buiter suggests that keeping low-denomination cash in circulation — nothing larger than $5 — might solve this.)
- Central banks and governments would lose seigniorage revenue.
- Abolishing currency would inevitably be associated with a loss of privacy and create risks of excessive intrusion by the government.
- Switching exclusively to electronic payments may create new security and operational risks.
darkchild
Active member
We are now seeing from this article is some of the first cracks in the next stage of global enslavement by the hidden powers that run the world, which is why it is highly essential for cryptos like DASH to thrive.
In the best of times, the world economy is a fragile patchwork of economic systems that run at different rates without a smooth interface or a macro system in which to operate. In the worst of times, it is a house of cards vulnerable to the faintest of winds. Hard currency and the monetary system that supports it will become a scapegoat of the economic slowdown, and electronic currency will increasingly become the solution to the general malaise of the global economy.
Those in power desire to have an electronic currency because it tracks everything and enables a more thorough analytical insight into the affairs of each individual. This tracking as we see in the case of Bitcoin and other state issued digital currency/cash, will allow these control freaks to observe patterns and manipulate events in order to protect their dominance as a leadership body. They want to define the new systems and manage system change.
In the best of times, the world economy is a fragile patchwork of economic systems that run at different rates without a smooth interface or a macro system in which to operate. In the worst of times, it is a house of cards vulnerable to the faintest of winds. Hard currency and the monetary system that supports it will become a scapegoat of the economic slowdown, and electronic currency will increasingly become the solution to the general malaise of the global economy.
Those in power desire to have an electronic currency because it tracks everything and enables a more thorough analytical insight into the affairs of each individual. This tracking as we see in the case of Bitcoin and other state issued digital currency/cash, will allow these control freaks to observe patterns and manipulate events in order to protect their dominance as a leadership body. They want to define the new systems and manage system change.
