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Abolishing Cash,Give More Power to Central Banks

serfserf Member Posts: 7,328 ✭✭✭
edited August 2015 in Politics
In Today's world the sheple are led like animals to the slaughter house!They haven't a clue!

serf

http://www.globalresearch.ca/financial-times-calls-for-abolishing-cash-to-give-more-power-to-central-banks/5472522

As we previously reported, Rogoff attended a meeting in London earlier this year where he met representatives from the Federal Reserve, the ECB as well as participants from the Swiss and Danish central banks. The issue of banning cash was at the forefront of the agenda.

Last year, Rogoff also called for "abolishing physical currency" in order to stop "tax evasion and illegal activity" as well as preventing people from withdrawing money when interest rates are close to zero.

Complaining that cash cannot be tracked and traced, the writer argues that its abolition would, "make life easier for a government set on squeezing the informal economy out of existence."

Abolishing cash would also give governments more power to lift taxes directly from people's bank accounts, the author argues, noting how "Value added tax, for example, could be automatically levied - and reimbursed - in real time on transactions between liable bank accounts."

The writer also calls for punishing people who use cash by making users "pay for the privilege of anonymity" so they will, "remain affected by monetary policy." Dated bank notes would lose their value over time, while people would also be charged by banks for swapping electronic reserves for physical cash and vice versa.
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