Money sometimes goes “full politics”. Take poor Kenneth Rogoff at Harvard. He wants a dollar with a voter registration card, a U.S. flag on its windshield, and a handgun in its belt – the kind of money that supports the Establishment and votes for Hillary.
Etatiste tool Kenneth Rogoff, whose authoritarian jeremiads against cash currency we have first discussed and criticized in 2014 in “Meet Kenneth Rogoff, Unreconstructed Statist”. As Hans-Hermann Hoppe once noted: “[I]ntellectuals are now typically public employees, even if they work for nominally private institutions or foundations. Almost completely protected from the vagaries of consumer demand (“tenured”), their number has dramatically increased and their compensation is on average far above their genuine market value. At the same time the quality of their intellectual output has constantly fallen. What you will discover is mostly irrelevance and incomprehensibility. Worse, insofar as today’s intellectual output is at all relevant and comprehensible, it is viciously statist.”
Photo credit: Andrew Harrer / Bloomberg
Writing last month in the Wall Street Journal under the headline “The Sinister Side of Cash”, he noted that:
“Paper currency, especially large notes such as the U.S. $100 bill, facilitate crime: racketeering, extortion, money laundering, drug and human trafficking, the corruption of public officials, not to mention terrorism.”
Of course, large notes do make it easier for criminals to operate. Like cellphones. And sunglasses. And automobiles with air-conditioning. But that’s what money is supposed to do: make it easier for an economy to function. You use it as you please.
Yes, dear reader, we are back to our regular beat. Money. But what’s this? Finally, we’re beginning to see some action. You’ll recall that the markets have been eerily quiet – with less movement in stocks than we’ve seen in the last 100 years. What gives?
…click on the above link to read the rest of the article…
