“THE perils of an all-digital currency range from the fairly obvious to the altogether inconspicuous. In order to adequately appreciate the crucial importance of establishing and upholding the right to cash, it is necessary to explore them in some detail.

“The clearest danger arising from the elimination of all physical money is the threat to privacy it entails. Purchases using digital money, be they via credit card, mobile phones or online banking, are never as anonymous as cash transactions: a record is invariably created and held by a third party – usually a bank or credit card company. While these entities may be obliged by law to keep such information confidential, such confidentiality can be breached by government pressure or broken by skilful hackers. In short, it is only cash that provides full anonymity – and the concomitant autonomy. Only with physical money may we say with Dostoevsky:

“‘Money is coined liberty.’

“Sadly, the convenience of using credit cards, the rise of online shopping and propaganda campaigns portraying cash as unhygienic or maligning it as an instrument of criminality have generally sufficed to overpower privacy concerns. In order to strengthen the case for establishing a right to cash, it is therefore necessary to study some of the less evident negative consequences of an all-digital currency.”

— Arindam Basu, “The Right to Cash“

— Comments —

Kathy G. writes:

I also see privacy as a big issue with digital currency. The younger generation does not. They do not value privacy. I think that goes along with the loss of being shamed by anything in these days of anything goes paganism. People freely divulge the most personal details on social media, stuff that most older people would rather die than admit. So, they just have no issues with personal information being collected. A lot of younger folks don’t even carry cash, and rely on credit cards. They think cash is inconvenient.

A greater danger with digital currency is the lack of control over your own money. It can simply be shut off, as Nick Rockefeller bragged to Aaron Russo years ago, with the “flip of a switch”. Now THAT is the ultimate control and ownership.

Janice writes:

It looks like we have been groomed for digital currency ever since Bitcoin became a thing. And who were the ones promoting Bitcoin and its spinoffs? The so-called fiscal freedom types were, while the “pandemic” shutdowns and the “evils” of “dirty”, inconvenient, wildly inflated cash coming from those nasty banks were in the forefront of the news.

No one will bat an eye as we are shifted to CBDC under Trump’s promise to look into “ending the Fed!”

Then, as Kathy said, the tracking and tracing will begin in earnest. How do I know all this? I don’t, but I can make an educated guess. Look at who Trump is surrounding himself with. Made men/women of the technocracy – most interestingly JD Vance, who has deep ties with shady Peter Thiel of Palantir. Vance owes his rise to prominence to Thiel. I hope I am wrong but I have a feeling Vance will need to turn a blind eye and a deaf ear to the increased snooping on the citizenry and crystal-ball-gazing-into-the-future that Palantir was created for and owes its very name to…

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