NO
WAY.
yeah that pretty sums up my thoughts on the matter.
And yet people can’t understand when I tell them the Federal Reserve and its unlimited printing of unbacked currency and debt creation is the foundation of Progressive government.
Conservatives will continue to lose every economic and yes, also social, battle they fight while the present financial system exists.
Makes it more difficult for the “banksters” to steal your money if it is not accessible by their computers.
So panhandlers will now swipe your debit card onto their smartphone?
I think that the elitists would face a dilemma. One set of elitists wants all digitized transactions so that they can control the public and make people into slaves.
However, there is another sector of elitists that feed off of criminal activities. The drug trade is worth by some estimates to be worth just short of a half a trillion. Government agencies need drug dealers to stay in business, no mission, no margin. Many of the agents and whole sections are corrupt and they take their cut in cash. Then you have money laundering banks that take in cash. Ultimately, all this activity depends on the end user, and you can’t expect a heroin junkie to pull out a credit card to pay for his fix.
The elitists also need cash to keep the sex slave trade going.
What about bribery, big and small, you need cash for that. Election fraud, sweetheart deals, hush money, the uses are legion.
Local police departments also depend on cash- civil assets forfieture, a cut in prostitution and illegal gambling rings.
It will be interesting to see how this plays out. Evil control freaks vs corrupt greedy types.
Abolish cash and watch the black market flourish like never before.
You can trade for almost anything.
Oh, there’s a FOURTH way: Quit burying federal debt in the Federal Reserve and put that debt out to bid on the open market. Interest rates will get back to normal overnight and people might be able to make a few bucks off their bank deposits. I sold off all my E bonds back in the 90’s when this whole thing started sliding. This guys theory is another way of saying that US cash might not be worth much for long. 18 trillion in debt is liable to kill it.