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  • Posted by freedomforall 9 years, 1 month ago
    THAT's the secret goal of quantitative easing and never ending inflation. If it takes a truck full of fiat to pay for a piano lesson, people will stop using cash voluntarily.
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  • Posted by SaltyDog 9 years, 1 month ago
    This, of course, leads to an underground economy. "Hey, you fix cars and I'm a plumber. Let's work out a deal!" Technically, barter is already viewed as a cash transaction by a number of taxing authorities; it's just near impossible to prove in any meaningful way when done on a small scale.

    I think it's safe to say that we've been walking down the road to ruin for a number of years now. However, since the age of the ubiquitous computer, we seem to have jogged and now are breaking into a run.
    I'm glad to be at this end of my life and not just starting out; however, as the saying goes, I weep for the future.
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  • Posted by Lucky 9 years, 1 month ago
    Pecunia non olet -money has no smell.
    Since the time of the Roman Emperor Vespasian traders have seen the advantage of cash as value in itself not referring to any outside transaction.
    Yes, I agree the concerns about abolishing cash are real.
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