{"id":22809,"date":"2017-02-18T12:06:10","date_gmt":"2017-02-18T17:06:10","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22809"},"modified":"2017-02-18T12:06:46","modified_gmt":"2017-02-18T17:06:46","slug":"the-war-on-cash-intensifies","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22809","title":{"rendered":"The War on Cash Intensifies"},"content":{"rendered":"
\n

The War on Cash Intensifies<\/a><\/h3>\n

Mark my words: The war on cash is intensifying, putting our civil liberties at stake like never before.<\/p>\n<\/header>\n

\n

Last month, the 2001 Nobel Prize-winning economist from Columbia University, Joseph Stiglitz, was quoted as saying: \u201cI believe very strongly that countries like the United States could and should move to a digital currency.\u201d<\/p>\n

He argues that the move would give governments the ability to trace corruption, putting an end to illicit activities.<\/p>\n

This falls in line with the thinking of Harvard\u2019s Kenneth Rogoff. He has argued for two decades that a society awash with cash contributes to the growth of the underground economy. Rogoff believes large-denomination bank notes should be phased out.<\/p>\n

He also argues that cash facilitates crime because it is anonymous. And big bills are especially problematic because they are so easy to carry and conceal.<\/p>\n

But that\u2019s not all \u2026<\/p>\n

India\u2019s Prime Minister Narendra Modi has already removed 86% of his country\u2019s currency from circulation in an attempt to curb tax evasion, tackle corruption and shut down the underground economy.<\/p>\n

Here\u2019s the bad news: It\u2019s not going to work.<\/p>\n

In 1969, the U.S. officially retired the $10,000 bill, along with the $5,000 bill and the $1,000 bill. Will all cash soon become extinct?<\/figcaption><\/figure>\n

Sure, the bad guys would be inconvenienced for a while. But they would adapt, pushing their illegal activities deeper underground, out of sight, and further away from the watchful eye of the authorities.<\/p>\n

Europe will most likely be next. The European Commission has already introduced a proposal enforcing restrictions on payments in cash.<\/p>\n

And they\u2019re pushing out all sorts of propaganda to do it, trying to get people to associate illegal activities with high denominations of cash.<\/p>\n

But as\u00a0I\u2019ve said many times before<\/a>\u00a0the real reason behind this move to a cashless society is simple: Governments are going broke and these shenanigans are merely a hunt for more taxes.<\/p>\n

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

The War on Cash Intensifies Mark my words: The war on cash is intensifying, putting our civil liberties at stake like never before. Last month, the 2001 Nobel Prize-winning economist from Columbia University, Joseph Stiglitz, was quoted as saying: \u201cI believe very strongly that countries like the United States could and should move to a […]<\/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":[2,6],"tags":[1035,1034,4914,460,7409,14820,4927],"class_list":["post-22809","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-cash","tag-cashless-society","tag-civil-liberty","tag-joseph-stiglitz","tag-larry-edelson","tag-the-edelson-wave","tag-war-on-cash"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22809","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=22809"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22809\/revisions"}],"predecessor-version":[{"id":22811,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22809\/revisions\/22811"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}