Friday, August 28, 2015

The Financial Times Calls for Ending Cash, Calls it a “Barbarous Relic”
When you start to see increased propaganda about banning cash, you know the status quo is very scared and things are getting very serious. You’ve been warned.

The fact that people treat cash as the go-to safe asset when banks are teetering is heavy with historical irony. Paper money was once the symbol of monetary irresponsibility. But even as individuals have taken recent crises as reasons to stock up on banknotes, authorities would do well to consider the arguments for phasing out their use as another “barbarous relic”, the moniker Keynes gave to gold.

Of course, if cash were  involuntarily”ended,” there would be a surge in demand for physical gold and silver, which would then necessitate a ban on those items. Then the cycle of economic and financial tyranny would be complete, and crawling our way out of it, nearly impossible. 

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