Thursday, 22 August , 2019

Cash

India, Death by Demonetization: “Financial Genocide”, The Crime of the Century

By Peter Koenig January 20, 2017 A Financial genocide, if there was ever one. Death by demonetization, probably killing hundreds of thousands, if not millions of...

Total Control: Abolishing Cash to Control Everybody, Everywhere

By Peter Koenig 27.12.2017 The other day I was in a shopping mall looking for an ATM to get some cash. There was no ATM. A...

The Macroeconomics of De-Cashing | India and the IMF.

The Macroeconomics of De-Cashing: IMF Wants India To Wage War On Cash, Push For A Cashless Society   In the face of strong public opposition the...

Galbraith on Greece, Trump, Europe and US Dollar

  "The issue is whether a break (of Greece) with Europe would make things better (for Greece). And that is an issue that has to...

Cash Is No Longer King: The Phasing Out Of Physical Money...

The unprecedented collusion between governments and central banks that occurred in 2008 led to bailouts, zero percent interest rates and quantitative easing on a scale never before seen in history. Those decisions, which were made under duress and in closed-door meetings, set the stage for this inevitable demise of paper money.

Tens of thousands protest against India cash ban

India still reeling from shock decision three weeks ago to pull 86 percent of the currency from circulation overnight. Tens of thousands of people joined...

Cash Means Freedom, Which Is Why So Many Officials Hate It

Perhaps it's not surprising that Scandinavians are leading the way toward a future devoid of financial privacy. The region's inhabitants are stereotyped as submissive to governmental whims—to the point of "benign totalitarianism," as a British writer described Swedish political norms. That's a bit unfair, given free market reforms in Denmark and Sweden that make the private sectors in those countries rather robust. But Scandinavians do seem to have more faith in their rulers, and less experience with truly hideous regimes, then some of their neighbors.

The war on cash

'Cashless society' is a euphemism for the "ask-your-banks-for-permission-to-pay society". Rather than an exchange occurring directly between the hotel and me, it takes the form of a "have your people talk to my people" affair. Various intermediaries message one another to arrange an exchange between our respective banks. That may be a convenient option, but in a cashless society it would no longer be an option at all. You'd have no choice but to conform to the intermediaries' automated bureaucracy, giving them a lot of power, and a lot of data about the microtexture of your economic life

Central Bank Digital Currencies: A revolution in banking?

Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates