Monday, August 29, 2016

Government Assault on Cash is Grab for Your Wallet Professor Confirms

US Government's Assault on Cash & Freedom Accelerates as Globalists Prepare to Take Authoritarian Control

Kenneth Rogoff, the former chief economist of the International Monetary Fund, is out with an essay this morning in the Wall Street Journal titled, The Sinister Side of Cash. With this, Rogoff, now a Thomas D. Cabot Professor of Public Policy at Harvard University, showed his agenda of Big Government and authoritarian rule.

In his article, "Harvard Professor Creates Blueprint for Ending Cash in US; Calls for Immediate Phasing Out of $20 Bills", Robert Wenzel of the Economic Policy Journal, exposes the elitists' totalitarian plan to take control of your wallet and with it your life. 

Rogoff writes:
When I tell people that I have been doing research on why the government should drastically scale back the circulation of cash—paper currency—the most common initial reaction is bewilderment. Why should anyone care about such a mundane topic? But paper currency lies at the heart of some of today’s most intractable public-finance and monetary problems. Getting rid of most of it—that is, moving to a society where cash is used less frequently and mainly for small transactions—could be a big help...
According to Rogoff cash is anti-state. However, by exposing his concerns, he exposes the true desires of the anti-cash promoters: More state control. It is a further move in the direction of totalitarianism.
There is little doubt that paper currency, especially large notes like the $100 bill, is useful to criminal enterprises. Racketeering, extortion, money laundering, drug and human trafficking, the corruption of public officials, terrorism and tax evasion are mentioned in Rogoff's report. 
The point of getting rid of big bills is to make it harder to carry and store large amounts. A million dollars in $100 bills weighs approximately 22 pounds and can fit comfortably into a large shopping bag. With $10 bills, it isn’t so easy.
Rogoff also explains how instruments like bitcoin will be curtailed or banned in his statist non-cash world: But as long as the government keeps trying to micromanage everything and prevents these alternatives from being easily used at retail stores or banks, they won’t be able to help fill the role that cash plays today.
What this genius fails to mention is that the private sector will continually find new ways to make anonymous transfers that sidestep government restrictions.

Still, like Robert Wenzel wrote in his Economic Policy Journal article; "It is an evil plan that must be objected to loudly and forcefully. This is a battle that must be joined. The anti-cash advocates must be defeated."

By Tom Retterbush