Big Brother Libertarians: Cato Institute Sells Out for the Cashless Society – Liberty Conservative News
Posted by M. C. on May 27, 2019
The analysts confusingly claim that digital paper money would “foster true price stability” while admitting that a cashless system would allow the central bank to inflate currency instruments limitlessly.
The CATO Institute is less than a shell of what it used to be.
“Digital cash would facilitate the systematic and transparent conduct of monetary policy, thereby facilitating the effectiveness of the monetary transmission mechanism and enhancing the central bank’s accountability to elected officials and the public.”
Better to spy on you my dear…less so elected officials.
The Cato Institute, a Washington D.C. think-tank funded in part by globalist oligarchs David and Charles Koch, has formally endorsed the notion of a cashless society that would enable centralized government control over the entire economy on an unforeseen scale.
Economics professors Michael D. Bordo and Andrew T. Levin wrote a white paper for the Cato Journal titled, “Improving the Monetary Regime: The Case for U.S. Digital Cash.” They argue that digital cash is necessary so the “Federal Reserve can provide sufficient monetary stimulus to preserve price stability.”
“Our analysis indicates that the Federal Reserve should take active steps to establish digital cash as the fulcrum of the U.S. monetary system,” the Cato analysts wrote.
Although they do not propose explicit banning the use of paper cash, they admit that their proposal would phase it out and eventually lead to a digital-only system where paper currency becomes a thing of the past…
Be seeing you
Bankster
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