Latest Crazy Idea From Economic Experts: Abolish Cash (But Don't Tell The People)

[To-Whose-Benefit?]

zerohedge
by Tyler Durden
Dec 17, 2017 5:50 PM

[excerpt]

http://www.zerohedge.com/news/2017-12-17/latest-crazy-idea-economic-experts-abolish-cash-dont-tell-people

Via GEFIRA,

In a recent paper - The Macroeconomics of De-Cashing, Alexei Kireyev of the International Monetary Fund advises abolishing cash without having the citizens aware of the process.

First, large banknotes are to be withdrawn from circulation, next limits on cash transactions are to be imposed, then computerization of the world’s financial system and control of international cash transactions are to be enforced and, finally, private companies are to be encouraged to avoid cash transactions.

Kireyev draws on the ideas of former IMF chief Kenneth Rogoff.

In his 2016 book “The Curse of Money”, he advocated the abolition of cash. In his opinion, it would contribute to the fight against crime, tax evasion and the reduction of the grey area.

The ECB obliged him and promised not to print the 500 euro note after 2018.

[dfwgator]

Hence, Bitcoin!

[Frank Cannon]

and the reduction of the grey area.

As long as ignorant Govt's stooges are alive, there will always be a gray area. Prisoners don't have cash, but that doesn't stop them from using cigarettes or some other tangible as currency.

[Oceander]

Hence, Bitcoin!

Yup