{"id":21633,"date":"2016-09-17T08:15:15","date_gmt":"2016-09-17T13:15:15","guid":{"rendered":"http:\/\/olduvai.ca\/?p=21633"},"modified":"2016-09-17T08:15:15","modified_gmt":"2016-09-17T13:15:15","slug":"cash-bans-and-the-next-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=21633","title":{"rendered":"Cash Bans and the Next Crisis"},"content":{"rendered":"
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Cash Bans and the Next Crisis\u00a0<\/a><\/h3>\n<\/div>\n
Criminalizing Cash<\/strong><\/div>\n
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Money sometimes goes \u201cfull politics\u201d. 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 \u2013 the kind of money that supports the Establishment and votes for Hillary.<\/p>\n

\"KennethEtatiste tool Kenneth Rogoff, whose authoritarian jeremiads against cash currency we have first discussed and criticized in 2014 in \u201cMeet Kenneth Rogoff, Unreconstructed Statist<\/a>\u201d. As Hans-Hermann Hoppe once noted:\u00a0\u201c<\/em>[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 (\u201ctenured\u201d), 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\u2019s intellectual output is at all relevant and comprehensible, it is viciously statist.\u201d\u00a0<\/em><\/p>\n

Photo credit: \u00a0Andrew Harrer \/ Bloomberg<\/p>\n

Writing last month in the\u00a0Wall Street Journal\u00a0under the headline \u201cThe Sinister Side of Cash<\/em>\u201d, he noted that:<\/p>\n

\u201cPaper 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.\u201d<\/em><\/p><\/blockquote>\n

Of course, large notes do make it easier for criminals to operate. Like cellphones. And sunglasses. And automobiles with air-conditioning. But that\u2019s what money is supposed to do: make it easier for an economy to function. You use it as you please.<\/p>\n

Yes, dear reader, we are back to our regular beat. Money. But what\u2019s this? Finally, we\u2019re beginning to see some action. You\u2019ll recall that the markets have been eerily quiet \u2013\u00a0 with less movement in stocks than we\u2019ve seen in the last 100 years. What gives?<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Cash Bans and the Next Crisis\u00a0 Criminalizing Cash Money sometimes goes \u201cfull politics\u201d. 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 \u2013 the kind of money that supports the Establishment and votes for Hillary. Etatiste tool […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5728,6190,1035,4787,217,239,246,1508,2228,536,4948,972,1138],"class_list":["post-21633","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-bill-bonner","tag-cash","tag-cash-ban","tag-dow-jones","tag-economic-crisis","tag-economy","tag-kenneth-rogoff","tag-market","tag-money","tag-paper-currency","tag-statism","tag-stock-market"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21633"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21633\/revisions"}],"predecessor-version":[{"id":21634,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21633\/revisions\/21634"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}