throughout the western world, politicians seem keen on the elimination of money as a concept. There are several reasons for the surface - preventing robberies of armored vehicles, the fight against organized crime, which makes it hard money laundering, and so on. However, this is a project of typical ivory tower elite who do not work in practice, nor escape many of the negative impacts. Attempts to remove silver are not only a disaster for privacy but also a disaster for national security and resilience.
The politicians suggest that the money should be progressively replaced by transactions by credit card and direct banking, which makes every single movement of traceable money, graspable and reversable. This is not only a disaster for privacy, it is also a disaster resilience. I had the privilege of having a long conversation with the head of security of one of the largest European banks, and he said the result was a given - there will always be some kind of cash. Whether issued by a central bank is completely beside the point; if money from the central bank are not readily available, people will create a means of trade between them without involving a third party.
There are not that privacy that requires cash or equivalent. There is also the possibility of negotiating without having tons of paperwork, including a third treatment, which - to top it all - clearly establishes a merchant class (with the possibility of receiving money) and a class of consumers (with the ability to pay and shut up). However, money was always peer-to-peer
Let's take it again, because it is important. Money is and always has been peer-to-peer. (One can easily observe the popularity of other technologies peer-to-peer is with governments.)
But the fight against money peer-to-peer is also a disaster for national security, and I do not think most politicians understand the ramifications of this. We have already seen how the US killed organizations in pointing a finger of death TM to them when Visa, MasterCard and PayPal off their ability to accept money as if it was made with one voice. High-profile cases in point: WikiLeaks
Now, two questions:
- If you were an entrepreneur, would you be comfortable with the fact that someone else was holding the main key to your entire. operations and could stop the moment you become inconvenient? There is no WikiLeaks who was arrested by the credit card agreement; many small mom-and-pop shops that sold sex toys and completely legal and moral-similar properties were also closed. This already happened citing "acceptable use policies" We are effectively outsourcing policies democratically unaccountable credit card companies under the jurisdiction of a foreign power
. - . If you were a politician outside the United States, would you be comfortable with the fact that a foreign power (the US government, to issue letters of Visa and MasterCard) could stop your entire consumer economy (the ability to pay at points of sale) as easy as flicking a Big Red switch? You should not. This should have politicians wake up at night screaming in terror. the United States can effectively eliminate a country without a single shot if that country has been foolish enough to remove silver.
in summary, the policy attempts to eliminate cash are very nearsighted, and I would add dangerous the society . Bitcoin can come to the rescue before the credit card companies and myopic politicians knew what hit them.
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