Posted on 01/18/2017 12:09:45 PM PST by Lorianne
Joseph Stiglitz, Nobel Prize-winning economist, thinks so. Phasing out currency and moving towards a digital economy would, over the long term, have “benefits that outweigh the cost,” the Columbia University professor said on day one of the World Economic Forum's Annual Meeting in Davos…
“I believe very strongly that countries like the United States could and should move to a digital currency,” he said, “so that you would have the ability to trace this kind of corruption. There are important issues of privacy, cyber-security, but it would certainly have big advantages.”
https://www.weforum.org/agenda/2017/01/the-us-should-get-rid-of-cash-and-become-a-digital-economy-says-this-nobel-laureate-economist
(Excerpt) Read more at zerohedge.com ...
We need a drone strike on Davos. These people need to be killed for the safety of humanity.
I ncall for a ban on the wealthy lunatic “davos elite”.
To see how many countries are using our currency as their reserve currency go here:
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Wiki US Dollar - who's using it
Twelve countries use our dollar as official currency. 29 others use it as unofficial currency. Granted many of them are small but nevertheless.
Add TO that the total amount of excellent forgeries by Iran and North Korea, virtually undetectable in third world countries. As long as the fake dollars abroad are assumed to be real they are usable...abroad.
Now what happens if the physical paper is withdrawn?
Point to ponder...cui bono?
I don’t know of him, but glad to get that comment.
If you look at his bibliography, you learn that he is focused on “increasing revenues” to government coffers and he also has an obsession with collection every piece of information on people that he can. The latter impulse is part of his belief that Utopia can be achieved if the State has enough data on everyone in the economic system (Better information = better regulations = “fair and just” economics).
Government micro-management..., what could go wrong?
“A ban on physical cash” - says the CEO of PayPal.
No conflict of interest in his opinion - sheesh...
This is a guy who rejected Market Socialism because the “market” aspect has too many variables to suit his control fetish.
I’m not advocating it, just explaining.
How ‘bout HELL NO!!!!
It already is. Gold and Silver Eagles are legal tender coins. Their federal reserve value is about 20-22X their face value at this point, you don’t want to use them for discharging FRN tax liabilities but you can use them in transactions, both parties just need to come to terms on transaction value.
Of course currency is NOT money, even if legal tender laws demand the acceptance of Federal Reserve "tokens".
I'd like us to return to money and [real] notes that are redeemable in money. As things stand it is too easy to inflate the amount of currency circulating and thus decrease its "value". Imagine how much easier it would be WITHOUT printing it?
These A**holes are masters of corruption and illegal financial transactions: it IS what they do.
This ploy is absolutely not about addressing corruption, rather, it is about fencing everyone in and forcing them to digital currency so that they can be fleeced much easier in the banking system with negative interest rates, or at least, with negative “REAL” interest rates after taking into account true rates of inflation ...
Big time scammers hard at working making it easier to steal from Americans.
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