“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:
Paul Rosenberg: The Beauty and Dignity of the Productive Class
State-Wrecked: The Corruption of Capitalism in America - David Stockman
How Do You Take Your Poison?
Game Theory and Bitcoin
Is the National Security Agency behind Bitcoin?
Hidden Erosion of Corporate Worth Since U.S. Abandoned Money
Everything Is Modular . . . Is Governance Next?
Man, Method, and Recasting
The Muslim Holy War Against The 'Great Satan'
Gun Ownership: American Exceptionalism
US Interest Rates Will Continue to Rise
Stop-and-Frisk: How Government Creates Problems, Then Makes Them Worse
Do Korea “experts” know what they are talking about?
Bubble Symmetry and Housing
Barack Obama’s Nixonian Fed Pick
