Wednesday, September 16, 2009

Elites Push for the End of Currency

Finance dislikes currency because it can't make money on transaction fees. Governments hate it is because it outside of the system, and hard to track and tax. Poor people live in this world of the grey market.

Buiter seems to dislike it because it prevents the implementation of negative interest rates. Which, it seems, is the next way to reinflate the consumer bubble.

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