Citi Economist, Harvard Professor, and Trust Manager Argue for Government Removing Our Cash,

In his dystopian Op-Ed Piece: Make Cash Illegal Progressive Fascist (yes, you can be that) Jim Leavis believes that the same governments who promised us no more recessions if we allowed Central Banks to control the currency, if we adopted a Keynesian economic system, if we had economic central planning now want us to believe that all we need to be recession proof is to make cash illegal.

According to this diseased twat:

In this futuristic world, all payments are made by contactless card, mobile phone apps or other electronic means, while notes and coins are abolished. Your current account will no longer be held with a bank, but with the government or the central bank. Banks still exist, and still lend money, but they get their funds from the central bank, not from depositors.

Having everyone’s account at a single, central institution allows the authorities to either encourage or discourage people to spend. To boost spending, the bank imposes a negative interest rate on the money in everyone’s account – in effect, a tax on saving.

Faced with seeing their money slowly confiscated, people are more likely to spend it on goods and services. When this change in behaviour takes place across the country, the economy gets a significant fillip.

The recipient of cash responds in the same way, and also spends. Money circulates more quickly – or, as economists say, the “velocity of money” increases.

What about the opposite situation – when the economy is overheating? The central bank or government will certainly drop any negative interest on credit balances, but it could go further and impose a tax on transactions.

So whenever you use the money in your account to buy something, you pay a small penalty. That makes people less inclined to spend and more inclined to save, so reducing economic activity.

Such an approach would be a far more effective way to damp an overheated economy than today’s blunt tool of a rise in the central bank’s official interest rate.

Translation: we want to be able to tell you how to spend your money by using gates on your account.

If you think that this will never happen or that there is nothing nefarious going on in France you cannot spend more than one thousand Euros using cash, and in the US banks will not allow you to remove more than $5,000 at one time.

Terrorism, of course.  If you want you cash you’re the next Osama bin Laden.  If you want to still own money you’re suspicious.  You’re probably a drug dealer or a white supremacist or a member of ISIS that wants to take down the US government.

People wonder why I hate progressives more, here’s why: they stopped caring about any of this shit to focus entirely on worthless social issues that could be cured by simple going around the government.

You don’t need the government to stop a bigot from running gays out of his store.  You boycott that bitch until his money dries up.  That’s faster, far faster than the courts.

You don’t need government to get married or have the rights and benefits of marriage, you need an attorney.

But somehow these things are more important than a government that has constricted the lives of a generation of young black men through drug legislation, has terrorized people in foreign lands, and now wants to take away the power of your choices…for safety’s sake.

FUCK THOSE BITCHES

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s