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The article is unashamedly biased in favor of electronic transactions. It ignores (or I missed it) dissenting voices in Sweden[0], and quotes Ken Rogoff about b
by beagle3 8y ago
The article is unashamedly biased in favor of electronic transactions. It ignores (or I missed it) dissenting voices in Sweden[0], and quotes Ken Rogoff about buying apartments in cash (and thus avoiding tax), which doesn't sound applicable to Germany which has a precise, essentially authoritative real estate registry system (that is, if your home is not registered to you in the registry, it is not YOUR home). Some countries require you to list the transaction price/details, with proof of it is not within the norm; I don't know if that is required or not in Germany, but such a requirement will do more against property value taxation fraud than a cashless society.
It also seems to mention but downplay the part history plays here; Every german has friend or family with stories about the abuse of power in east germany (and older ones in Nazi germany as well).
It's a question of "when", not "if" centrally controlled electronic cash will be abused - precedents already exist - and the collective German memory is still too strong to ignore the implications (the way the rest of the western world evidently does ignore).
[0] http://www.bbc.com/news/business-43645676 http://www.bbc.com/news/business-43645676
- pgeorgi 8y ago> Some countries require you to list the transaction price/details, with proof of it is not within the norm; I don't know if that is required or not in Germany, There's the real estate sales tax that's a percentage of the sale. You're also required to have a notary set up the whole procedure (to make sure that everybody gets precisely what was agreed upon, or to initiate a rollback - there's about 0 chance that somebody goes out of the transaction without getting what is theirs) who is on the hook for making sure that everything fits together.