Leading German Keynesian Economist Calls For Cash Ban | WHAT REALLY HAPPENED

Leading German Keynesian Economist Calls For Cash Ban

At this stage, a sane person might be tempted to call it a day on the monetary experiments, especially considering that at this point, the limits have been reached. That is, there are literally no more assets to buy and rates have hit the effective lower bound where rational actors will eschew bank deposits in favor of the mattress. But not so fast, say folks like Citi’s Willem Buiter and economist Ken Rogoff: the world could always ban cash because if you eliminate physical currency and force people to use a debit card linked to a government controlled bank account for all transactions, you can effectively centrally plan everything.

Webmaster's Commentary: 

Central plan = total dictatorship. And central planning has never worked. Just look at the old USSR!

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