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elimination of cash
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emordnilap



Joined: 05 Sep 2007
Posts: 14116
Location: Houǝsʇlʎ' ᴉʇ,s ɹǝɐllʎ uoʇ ʍoɹʇɥ ʇɥǝ ǝɟɟoɹʇ' pou,ʇ ǝʌǝu qoʇɥǝɹ˙

PostPosted: Wed Oct 25, 2017 10:01 am    Post subject: Reply with quote

A good summary LJ.

Little John wrote:
people will then find themselves psychologically freed from the shackles that they have hitherto been held in by fiat.


This is what I've hoped for for donkeys' years. In general, people don't understand fiat money - they especially believe that you cannot stay alive without it - and a wake-up call would be good for them.
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fuzzy



Joined: 29 Nov 2013
Posts: 706
Location: The Marches, UK

PostPosted: Wed Oct 25, 2017 12:24 pm    Post subject: Reply with quote

Little John wrote:
If cash is formally eliminated, I think it could eventually backfire. The reason being that cash, as much as any other form of fiat, is the way the ruling class maintains control. However, at the edges, people will always find ways to evade detection of their financial activities with something like cash. That is to say, such people still use cash (and so still be committed to it as a form of exchange), but do so in way designed not to be picked up by the system. Nevertheless, most people go along with the formal and traceable use of cash for reasons of laziness, ignorance and general inclinations to compliance.

However, if cash is done away with completely, especially in a climate of tightening economic conditions for a large portion of the population, people will inevitably start to investigate and use a variety of systems of exchange that are completely "off-grid" in fiat terms. Having once done this and found a way to get by, this will set a dangerous precedent since people will then find themselves psychologically freed from the shackles that they have hitherto been held in by fiat.


People don't use other currencies, because this is the one one you pay the kings taxes in, so you have to earn it anyway, or he puts you in prison, so you may as well use it generally.
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