4 ms·
This is exactly the problem! What you wrote does not sound like extremist talk or paranoia. Certainly not after reading this: >Bank notes, as an alternate st
by feraloink 11y ago
This is exactly the problem! What you wrote does not sound like extremist talk or paranoia. Certainly not after reading this:
>Bank notes, as an alternate storehouse of value, are a constraint on central banks’ power. “We view this constraint as undesirable,” Citigroup Global Chief Economist Willem Buiter wrote.
He goes on to describe some ways that central banks could stop people from trying to hold on to their cash, thus undercutting the supposedly desirable goal of expanding bank power. They included:
> One, abolish paper money. Two, tax paper money.
One lone guy at NYU's business school made the only (to me) rational observation. It was how the article ended:
> if you’re afraid that central banks are in a war against savers, or that the government will try to control your financial affairs, cash is your best defense. Taking it away “is a prescription for revolution”.