Eliminating Cash Will Also Eliminate the Checks and Balances on Banking Policy and Practice
by Stefan Wieler
Gold Money
Eliminating cash will also eliminate the checks and balances on banking policy and practice
The rhetoric against cash (bank notes and coins) has intensified over the past months. Academics and central bankers are advocating the elimination of large denominations of currency notes; some suggest to eliminate cash altogether.
This hasn’t gone unnoticed by the public as the spike in Google Trends for topics such as “war on cash” shows. Now it seems the ECB is considering the first step towards implementation by eliminating the largest euro-denominated bank note: the 500 EUR bill. This bill, so described by ECB president Mario Draghi, “is being viewed increasingly as an instrument for illegal activities.”
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Source: http://financialsurvivalnetwork.com/2016/02/eliminating-cash-will-also-eliminate-the-checks-and-balances-on-banking-policy-and-practice/?utm_source=rss&utm_medium=rss&utm_campaign=eliminating-cash-will-also-eliminate-the-checks-and-balances-on-ba
