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It's all over. Just google "war on cash." Here's one from Steve Forbes himself, not your typical Forbes blogspam https://www.forbes.com/sites/steveforbes/2016/0
by hammock 5y ago
It's all over. Just google "war on cash." Here's one from Steve Forbes himself, not your typical Forbes blogspam https://www.forbes.com/sites/steveforbes/2016/03/01/the-great-cash-grab/?sh=5d9e3baf4aed https://www.forbes.com/sites/steveforbes/2016/03/01/the-grea...
The tldr is that cashless a) can be perfectly surveilled b) enables negative interest rates
Curious, where do you typically get your economic news? Based on your answer I can provide a couple other places to round out your intake.
- hellojesus 5y agoI also recommend to the commentor they check out Civil Asset Forfeiture laws.
- imtringued 5y agoA one year expiration date is good enough to implement negative interest rates on cash. Once a bill is invalid you can exchange it for a fee to get a valid one. If the expiry date is a replaceable sticker then it may be possible to have shorter durations but one year is good enough.
- hammock 5y agoExpiration dates are absolutely a part of the cashless/CBDC vision, and have been written about before by the Fed, the IMF, etc. Expiring cash isn't enough though, because most money is in electronic form on bank balance sheets. Hence digital currency.