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But if you take away cash people will simply invent their own non-fiat currency to do their shady business or giving tax-free presents from grandma to grandson.
by skrause 11y ago
But if you take away cash people will simply invent their own non-fiat currency to do their shady business or giving tax-free presents from grandma to grandson. In the end people will simply use silver and gold coins again, you can't just take away those.
- jo909 11y agoBut you can limit conversion of gold/silver into fiat money. I.e. to trade it on any exchange, you need to prove the origins. In the end a mob boss does not want to own hundreds of kilos of gold he can only spend on illegal stuff. He wants clean currency or investments. Making the laundering much harder is one of the big reasons behind this.