“Politicians are suggesting that cash should be gradually replaced by credit card transactions and direct bank transactions, making every single movement of money trackable, seizable, and reversable. This is not just a privacy disaster, it’s also a resilience disaster. I had the privilege of having a long conversation with the Chief Security Officer of one of the larger European banks, and he told me the outcome was a given – there will always be some kind of cash. Whether it’s issued by a central bank is completely beside the point; if central-bank cash isn’t readily available, people will create a way to trade between them without involving a third party.”

https://www.privateinternetaccess.com/blog/2013/10/attempts-to-eliminate-cash-are-more-than-a-privacy-disaster/

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