Monday, August 31, 2015

Another mainstream publication calls for the banning of cash

We have talked about in the past a paper published by a Harvard professorwhich argued that a ban on cash would be beneficial to helping the central bank perform monetary policies that give them much more latitude in the economic and financial arenas.  Of course, this ‘educator’ failed to recognize that it is not the fault of money that was ever the issue, but rather that fallible bankers, who are more ideologues than economists, have no idea about what they are doing and that the real answer lies in getting rid of them, rather than restricting the freedoms of the people to own cash.
But sadly this growing trend in both the academic and financial circles appears to be increasing as last weekend the Financial Times suddenly got on the End Cash bandwagon, and is even referring to fiat physical money as a barbarous relic.

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