Banning The Use Of Cash.

[Windship]

Gov want to eliminate second party purchases with cash. So, seems to me this is just another way to make up for the tax base depletion from offshoring and this will be on the backs of the working as well

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[Windship]

Talk about a possible “cashless society” has been around for years. The crucial question for our economic well-being is whether we evolve away from the use of cash voluntarily (which will happen if superior alternatives are developed—such as something along the lines of Bitcoin) or involuntarily, as the result of government compulsion.
I don’t know the current status of Bitcoin and other private digital currencies, but various governments are taking significant steps to curtail and, in some cases, put an end to cash. Yesterday, Larry Edelson of the Martin Weiss group of market commentators posted a thought-provoking article, “Cash is on its Death Bed.” Spain and Italy have banned cash transactions above certain relatively modest amounts. Former UK Prime Minister Gordon Brown is calling for the abolition of cash transactions. Denmark, too, is making moves to convert economic transactions to an electronic format. Here in the States, we aren’t as “progressive” as the Europeans, but Louisiana has banned cash payments for second-hand merchandise. Apparently they want to be able to identify revenues generated from flea markets, pawn shops, etc., to make sure the state gets its cut of tax revenues.
Why is this trend picking up steam and what does it portend for us?
The driving force behind the move to ban cash is that governments are desperate for more revenue. Progressives on both sides of the Atlantic bemoan economic activity that escapes the watchful eye and grasping hand of the taxman. A few years ago, Gene Sperling, an economic adviser spoke for President Obama when he declared a need for a “global minimum tax.” Last year, French economist Thomas Piketty’s book,Capital in the Twenty-First Century, thrilled proponents of bigger government with its recommendations that governments around the world gather and share detailed information on the amount, location, and uses of individual wealth to facilitate taxing more of it. Very simply, by being able to keep track of where wealth is, it will be easier for governments to tax it.
We’ve come a long way from the days of our founders when Thomas Jefferson declared in his first inaugural address that government should leave Americans “free to regulate their own pursuits of industry and improvement, and … not take from the mouth of labor the bread [income] it has earned.” First, we gave the federal government the right to tax income, which has resulted not only in a great transfer of wealth from private, productive enterprise to public, wasteful programs, but also has shattered our privacy. Second, the feds took additional wealth from us by forcing us to usedepreciating fiat currency instead of sound money. And now they’re flip-flopping and moving to ban the use of the fiat money that their legal tender laws have been forcing us to accept and to push our economic transactions into the digital realm where they can be monitored in real time. (As a sidelight, this should stimulate the development of private alternative currencies, and, in turn, likely stimulate government policies to monitor or suppress such alternatives.)

Recommended by Forbes​

 

[Windship]

There are umteen articles on this very scary issue.

 

[Windship]

Chris Hedges says the only way to turn the country around is by violent revolution. I agree.
If you like bernie...uve got to listen to Chris Hedges.

 

[pismoe]

I like CASH , hope it hangs around at least for my lifetime !!

 

[The Great Goose]

I like cash too. It gives you privacy.