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While it sounds like fantasy, there is a strong movement at many levels to get rid of cash entirely in the name of safety and security. I'm not sure about bury
by scotch_drinker 11y ago
While it sounds like fantasy, there is a strong movement at many levels to get rid of cash entirely in the name of safety and security. I'm not sure about burying cash in the desert versus harder assets but when they start charging the consumer to keep cash in an account, people will find other stores of value.
http://willembuiter.com/ELB.pdf http://willembuiter.com/ELB.pdf
- pzxc 11y agoTry selling something on Craigslist without requiring cash-up-front as payment and tell me how safe and secure it is. Fake money orders and cashier's checks are a lot easier to manufacture than fake cash.
- icebraining 11y agoMoney orders and checks? Oh, US, so far ahead and yet so behind.
- scotch_drinker 11y agoIn a future world of no cash, Craigslist will probably be black market underground bartering more than it will be about the sale of items. Probably isn't high on the priority list of people like William Buiter who would like to see cash outlawed. Hard to collect tax on people selling on Craigslist.