Politicians want to move us towards a cashless world. It would be a disaster
Abolishing hard currency would disadvantage the poor and jeopardise the economy
... It would take a little longer for the public to realise the underlying reason why governments and central bankers are so keen on a cashless economy — so that, come a recession, they could try to re-inflate a burst bubble by imposing negative interest rates. The last financial crisis left a nasty taste in the mouth: the wrong people were made to suffer. But that will be nothing compared with the injustices that will be wrought on blameless deposit-holders in the next crisis if we allow governments to abolish cash.
The War Against Cash by Ross Clark is published by Harriman House.
