No Cash for You.............................from Rico

Wonder why the recent and increasing calls for a cashless society?

- For banning cash?

 

Depression coming?

- Put interest rates at zero.

Economy sputtering to a halt?

- Have the Central Bank print trillions.

Banks not lending?

- Change the accounting rules. Provide government guarantees and funds.

People not spending?

- Ban cash transactions.

 

This solves exactly what? How does the micromanagement of individual economic lives solve problems like:

- Banks not solid enough to make loans.

- Consumers not solid enough to borrow.

- Insolvent government (at all levels) hungry for more tax revenue.

 

Whew! It's sure a good thing everyone can rely upon banking and government central planners to do the right thing!