Author Topic: Should Governments Restrict Cash?  (Read 310 times)

Mackin USA

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Mr. Mackin

ergophobe

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Re: Should Governments Restrict Cash?
« Reply #1 on: November 15, 2018, 05:27:25 PM »
Interesting article. Thanks

Though I almost never use cash, I dislike the idea of it being mandated away... though a non-governmental currency would solve that. Getting rid of cash to stop criminality will simply feed the growth of cryptocurrency won't it? I would think that cash for criminal activity is on its way out anyway.

Rupert

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Re: Should Governments Restrict Cash?
« Reply #2 on: November 15, 2018, 06:00:55 PM »
In the UK Cash would change the small black economy. Hit it quite hard imho.

 Paying the cleaner, garden, that sort of thing. Often they work for old folks, and old folks in the UK use cash a lot. Cannot see bitcoin working for them. Get to 75 and most people seem to be reducing the tech in their homes.

That means those who can least afford it would arguably get hit hardest.
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ergophobe

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Re: Should Governments Restrict Cash?
« Reply #3 on: November 15, 2018, 06:12:40 PM »
Ah, right. I was thinking of drugs and human trafficking, which is what they usually say they are trying to stop

Rupert

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Re: Should Governments Restrict Cash?
« Reply #4 on: November 15, 2018, 06:29:33 PM »
And I agree.  It wont stop that.
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Brad

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Re: Should Governments Restrict Cash?
« Reply #5 on: November 29, 2018, 10:37:10 AM »
Long term, if you restrict cash, you undermine the public faith and trust in the currency.  Mattress State Bank was there for a reason, just ask anybody that went through the Great Depression.  You cannot have a currency that is backed by "The full faith and credit of the United Sates" "Goog for all Debts Public and Private" and simultaneously make it illegal to have.  That's just twisted.