Will You Be a Cash Criminal?

‘Harvard professor and former chief economist at the International Monetary Fund, Kenneth S. Rogoff, is out with a new book. The Curse of Cash.
In the book, he attempts to make the case for banning paper money.
His justification for banning cash is two-fold: It will hamper criminal activity and it will allow central banks to take rates, when necessary, deep into negative territory.
As far as criminal activity, which he wants to make more difficult, he paints a broad brush that includes many activities that not all would consider offensive or a threat. He says it would make drug dealing more difficult, that it would make it more difficult for businesses to pay illegal workers. He raises the “horror” that in the Eurozone a ban on cash would make it more difficult for the many who use cash to escape oppressive value added taxes and he tells us it would hamper the black market in organs.’
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