3 ms·

If would also mean you can never hold cash or you’re losing money.

• CRConrad 5y ago
  Yeah, so it would also have the advantage of discouraging money turning from a useful active medium of exchange to a passive "resource" to be hoarded and have rent extracted from -- yet another point in its favour, as I saw it. My initially unquestioned assumption was that since the money in your bank account is denominated in the same currency as cash, it would automatically lose value at the same rate as cash. Can't recall exactly when I realised that the presence of money in bank accounts might influence the value of cash in stead; still in my teens, I think. As I recall, I started speculating about whether my system would have to even things out between cash and bank accounts by obliging the banks to continuously adjust your balance down, or something. (Can't recall if transferring the reduction to the state as tax, or just msking it go "POOF!" and disappear.) Next thing, I probably realised there are yet other types of holdings than cash and savings accounts, and lots of other complications, so abandoned the idea. And then I guess I grew out of my teens.