Posted on 01/13/2017 9:40:51 AM PST by Lorianne
Not satisified with demands for banning cash in America, Harvard economics professor Ken Rogoff has lashed out at critics of negative interest rates, calling them "ignorant" in their analysis of the unprecedented measures.
As a reminder of Rogoff's recent proclamations, according to the esteemed ivory tower academic, paper currency lies at the heart of some of today’s most intractable public-finance and monetary problems. As Rogoff explains in The Wall Street Journal, getting rid of most of it - that is, moving to a society where cash is used less frequently and mainly for small transactions - could be a big help.
Rogoff's begins by stating factoids as facts...
[excerpt from Rogoff]
So to clarify - Cash (and Donald Trump) are at the center of all of America's and the world's ills and therefore - as a PhD who knows best - we must destroy it (for your own good).
(Excerpt) Read more at zerohedge.com ...
Ken Jerkoff is going to be drinking a LOT of peptol Bismol the next 4 years :)
Won’t happen because it will blow-up on the Democrats. BIGTIME!
We all know their prime base of supporters all supplement their WIC checks, welfare, SNAP cards, SSI disability and other payments with CASH earned under the table or in illegal activities.
Ban cash and the Dems will have more to fear from the Blood and the Crips than from Donald Trump.
Other than for data collection purposes, digital money is no different from paper money. The category is Fiat Money and both forms are firmly in that category. Digital-only money just gives the government total control of the population.A federal agency or a clerk can disallow a purchase at any level of make a purchase for a citizen without authorization or simply confiscate funds or forbid their use.
Cold, hard reality vs. Ivory tower academic pushing utopian scheme
I’ll take reality every time.
Unfortunately, a lot of people suffer when such schemes ultimately collapse
The Left always says stuff like that.
The great socialist revolution in Russia didn't work well -- they just didn't do it right.
The great socialist revolution in China didn't work well -- they just didn't do it right.
The great socialist revolution in Cuba didn't work well -- they just didn't do it right.
But we can pull off a beautiful socialist revolution right here, and do away with all private property! We've got Harvard Professors! They'll do it right!
Ken Jerkhead won’t be able to find Peptol Bismol in 4 years if a cash-free society occurs.
No, Mr. Deceiving and Deceived Leftist Professor of Lies.
THE MOSTLY UNCONSTITUTIONAL FEDERAL GOVERNMENT lies at the heart of some of today’s most intractable public-finance and monetary problems. But the Lying Deceived Left will NEVER acknowledge government interference as the root cause of almost all our political and economic ills because they are hard-wired for and absolutely biased toward tyranny and Islamic Worldwide Supremacy.
Just relax everyone.
What could go wrong when any Harvard Expert tells us what to do, what to believe, what to eat, what not to eat, who to vote for and that we don’t need cash or any investment that pays a good safe interest rate.
Like nothing could go wrong with a Harvard Law Graduate as our President. Surely he would believe in and follow our constitution.
Just wait until the RUSSIANS hack the Federal Reserve... No more money for you!
Seriously this is about monitoring and taxing every single transaction down to buying a stick of gum.
If anything they need to allow gold and silver coins to be used as legal tender. Just like the Constitution mandates.
Although it is “digital money”, bitcoin and other cryptocurrencies are not backed or controlled by a state.
You mean the Constitution that says he cannot be President?
When he has the help of the supposed opposition party in negating it?
Go to Hell, Rogoff. You globalist cuck. You know exactly what control of your live you lose when they can digitally control your finances. You are a pathetic worm and traitor.
Until FDR confiscated gold coins one could buy a car from a dealer for $486 and give him four $100 Federal Reserve notes (redeemable in gold or “lawful money”), four $20 gold pieces, three silver dollars, and three silver certificates. The dealer considered all methods of payment equal. A similar experience obtained in all first world countries.
While WWII destroyed most economies of the world, the United States prospered. The only way to restart international economic activity was for the U.S. to take the lead, which it did with the Bretton Woods Agreement. Every currency had a fixed value in relation to the dollar, and the U.S. kept everything functioning by buying and selling gold at $35 an ounce. Therefore, once again there was a U.S. gold standard and the dollar became the world’s reserve currency. However, Americans could not take their Federal Reserve Notes to a Fed bank and trade them for gold.
The U.S. unilaterally abrogated the agreement in August 1971, allowed the dollar to float in relation to the trading whims involving all paper currencies. When the Treasury in 1964 began producing dimes through dollars without silver, silver coins disappeared from circulation. Until about 1968 people could still trade their Federal Reserve notes for Silver Certificates and trade those for packets of silver from a Federal Reserve Bank. Now the working careers of a single generation comprise the totality of comprehension for how the international community was to function economically without currencies emerging from things people can touch and see.
If you consider humans fallible, there is good reason to worry whether anyone has got it right and to be concerned for human freedom.
The reason communism hasn’t worked is because people have failed to embrace it.
Jane Fonda
There you go again ... pointing out the unspeakable truth.
No cash, no deal.
I didn’t like it when they started spitting Jacksons out of machines. Fake money!
Ivy league professorship should be grounds for exclusion from any discussion of practical matters.
My bank is spitting out Franklins now from the new machines.
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