They also said creating a Federal Reserve would stop financial panics like the one in October 1907.
What will you/me do when they can take everything you have at the stoke of a key and prevent you from buying anything? Mark of the beast ring a bell?
Packs of cigarettes and Tide.
What could possible go wrong?
Want to end booms and busts?
Go on a gold standard
Force government to live within the means (taxes) they take in (no debt)
Jail CEOs and bankers for fraud and not following GAAP
Getting rid of cash with touching the insanity of government debt and bankers having no fear of jail will solve NOTHING
Oh yeah.....giving the government all your money always works out right.....right???????
Another way would be to keep a Democrat as president. Apparently, according to the news media, its one long economic recovery with a Dem in office.
Digital money—the key for the mark of the beast. When they can “flip a switch” and cut you off, then you’re dead meat. It’s the ultimate control.
Yup, end the boom and bust cycle. Skip right to the bust and stay there.
Welcome to barter-time planet earth.
If you want to see tax collection drop to it’s lowest levels in modern times, I say go for it.
And watch businesses shuttered up faster than at any time in history.
Put this in the category of "You gotta be f***ing kidding me."
No way, no how.
Silver/Gold Coins, jewels, and foreign currency ala Soviet union.
They also said creating a Federal Reserve would stop financial panics like the one in October 1907.
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The hilarious part is that in truth, *money creates itself*.
A great example was found in more-wilderness-than-not early America. Farmers planted more crops than they and their families could eat, and wanted to take them to market, a long distance away, over unimproved roads or no roads at all.
A very hard journey, and much of the crop would be lost in the process. So instead they hit on the idea of making liquor with their surplus crop. Liquor takes up very little space, relatively speaking. It doesn’t readily spoil. And it is of high value. It is a great form of *money*.
Importantly, money has rules. And often those rules are “iron rules”, that you ignore at your own peril, because money doesn’t care what you think.
One of the most important is Gresham’s Law, frequently expressed as “good money pushes out bad”. It means if there are two competing currencies, people will save the more valuable one, and spend the less valuable one.
What makes this extremely important is the realization that “anything in abundance can be used as a currency.”
This is because anything in abundance can be used as a means of barter, so that people can sell what they do not want and buy what they do. All it takes is an agreement between buyer and seller. No government needed.
And this is why socialists hate abundance of anything, and try and stop it. Because if anything exists in abundance that government does not control, it automatically becomes a currency.
Now remember Gresham’s Law? Say a government abolishes fiat paper money and assigns people credits for it, so they can control markets, abundance and shortage by fixing prices. As soon as anyone has something in abundance, everyone wants to spend their worthless government credits and hoard whatever it is that has become a currency.
You can’t end Boom and Bust because that is driven by consumer psychology and external events.
Surprised we haven’t already seen moves toward this. Any government would love to stomp out something as hard to control and random as cash as an obvious power grab.
If the government banned cash, then private currencies would be born to fill the demand.
Virtual currency gives government control over the monetary system. This will be a disaster as most government programs are. My debit card has been compromised 2 times in one year. The bank replaced the thousands stolen but it took a month to clear it up. Thank God we had another account in another bank or we wouldn’t have been able to pay the bills on time.
Could be 5, though.
Why not a chip in the back of your hand or in your forehead? When you cannot see your money, all liberty is lost and the government owns you.