Posted on 04/08/2017 7:43:04 AM PDT by oblomov
I. INTRODUCTION
1. De-cashing is defined as the gradual phasing out of currency from circulation and its replacement with convertible deposits. This initiative does not in any way target the abolition of money as an institution, but is, rather, a sweeping reduction of the role of currency, its cash component, in favor of transferrable deposits, its non-cash component. The monetary authorities in many countries have already taken steps towards de-cashing. These steps include abolishing large denomination bills, imposing ceilings on cash transactions, introducing declaration requirements on the carriage of cash in and out of the country, reporting requirements for cash payments exceeding a specified amount, and even taxing cash transactions.
2. The purpose of this paper is to suggest a simple framework for the analysis of the macroeconomic implications of de-cashing. Starting from a traditional saving-investment balance, the paper develops a four-sector macroeconomics framework, which allows for the tracing of key implications of de-cashing for any country. The macroeconomic framework is then disaggregated into the real, fiscal, monetary,and external sectors of the national economy and the rest of the world. This analytical presentation allows for the study of sector-specific implications of de-cashing and the ability to highlight possible positive and negative effects of de-cashing in the sectors of particular importance for a specific country.
3. The paper is not meant to take a view in favor of or against de-cashing in the ongoing debate. A recent and detailed overview of the positions on both sides of this heated debate is included, among others, in Sands (2016) and Rogoff (2016). The starting premise of this paper is to examine effects of de-cashing from a macroeconomic perspective. Also, the paper does not review recent money reforms (demonetization in India and some other countries). Neither does it take a view on the role of de-cashing in reducing illegally cash-financed activities, nor on the ethical, legal and political aspects of de-cashing.
4. The rest of the paper is organized as follows. Section II briefly reviews the use of cash in the world and highlights some of the recent trends of de-cashing, including a few case studies of individual countries. Section III analyzes the statistical treatment of cash in the macroeconomics accounts, and, on this basis, proposes a traceable accounting model of de-cashing. Finally, Section IV includes conclusions and policy recommendations.
No No No this is a terrible idea and they “progressive globalist bankers” are sowing the the seeds now. Somethings need to be at least in some part physically tangible objects like paper and coins or transferable to such.
These idiot globalists, in their quest fr control, are going to destroy the world.
The whole concept of “cashless” is a big, authoritarian power play. Absolute control by institutions and government. Removal of INDIVIDUAL POWER and control.
Commies everywhere.
My money is on gold and silver when it comes to “de-cashing” (with lead, brass, and blued steel as a backup). Metals give us privacy and real security, while the electronic option offers far less.
Straight out of the Bible, the number of the Beast.
The Liberal utopia is a cruise on the river Stix.
Right, stop this in its tracks. I’ve begun paying for as many things as I can with cash. First of all it really makes you think of how much you are spending. Second, I don’t want some record of where or on what I spend money.
Of course they have made it impossible to buy large ticket items for cash ostensibly due to “drug dealers” hiding their profits. The removal of all larger than C notes from circulation also was a move in this direction. No gold or silver backed currency, just federal reserve IOUs was the first step.
What they don’t say is that the purpose of this is to make it devilishly easy for governments to take what they want from your money and give it to those who keep them in power.
Tax on transactions. Tax on the principal in your account, not just the interest. Confiscation in case of government crisis.
(All these things have already been done.)
What they want is communism, but they shy away from the name. So it’s gradual communism without mentioning the name. Fools the public every time.
Liberal elitist utopian alert. Be. Prepared. They are serious, why aren’t we?
We’re going to have to kill them if we want to remain relatively free. That’s what this is coming down to. Cashless society is a way for the few to gain absolute power over the many. We’re already half enslaved through fiat money, but taking away the ability hold the fruits of one’s labor without permission or assistance from another is the last straw. It’s the end of the individual. It might not happen in our lifetimes, but eventually “we” are going to have to kill them.
Control by the oligarchs is what is driving this.
Squashing of freedom.
It is the control system where the globalist NWO bankers can tax, monitor and surveillance everything we do in this world and once they have it installed it will be forever,
I was laughed at many years ago in college for saying this was coming, that we would one day use computers/numbers to buy and sell and that cash would be all but phased out, I didn’t know how it would be done mechanically, but once the internet appeared (mainstream) in the early 90s I knew right then exactly how,
Now I would be laughed at for suggesting that this isn’t whats coming,
It is the economic system of the coming anti-Christ, its rising up, they are preparing the highway for it,
“And now I have told you before it come to pass, that, when it is come to pass, ye might believe.” John 14:29
Yes, yes, and yes. What they want is total control. Fear them.
Does anyone here ever paid by check?
Or pay a bill by check?
last time I bothered to notice a check isn’t cash
I spend less than $100 a year in cash.
And checks? The only checks I have written in the last five years were to government agencies for my Driver's License and my Passport, because they accept checks or money orders only.
Everything else in my life is on my Visa credit card, either auto-pay, or point of purchase.
I pay my Visa bill once a month, via auto-pay from my checking account, which I still need to receive direct deposits.
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