“At the IMF Research Conference on November 8, 2013, former Treasury Secretary Larry Summers presented a plan to expand the con game. Summers says that it is not enough merely to give the banks interest free money. More should be done for the banks. Instead of being paid interest on their bank deposits, people should be penalized for keeping their money in banks instead of spending it. Summers acknowledges that the problem with his solution is that people would take their money out of banks and hoard it in cash holdings. Summers has a fix for this: eliminate the freedom by imposing a cashless society where the only money is electronic.”
Related posts:
A Dozen Things I’ve Learned From Michael Mauboussin About Investing
Does This Make America Less Free Than Slovakia?
All I Want For Christmas Is the End to Unnecessary War
Cellphone unlocking is the first step toward post-SOPA copyright reform
Live Like You're Free
And the Credit for Defeating Slavery in America Goes to… Criminals!
Bill Bonner: Turning Argentine...
Putin was wrong: The exceptionalism of the United States is alive and real
Substitutionary Justice In A Free Society
Google's Trillion-Dollar Driverless Car -- Part 2: The Ripple Effects
How the Silk Road Shutdown Makes Everyone Less Safe
Charting Insolvency: Social Security and Wages
Debt addiction, USA: How much debt reduction has the crisis caused?
The State: Judge in its Own Cause
Lies, Damned Lies, and Statistics... at FreedomFest
