Originally Posted by tesla69
"When pigs are going to be slaughtered, they are first herded into pens for the convenience of the slaughterhouse. When savers are going to be slaughtered, they are herded into digital accounts from which there is no escape....."
"....In plain English, this means the “money” in your bank account and the “money” in your purse or wallet would be like two different kinds of currency. There would be an exchange rate between the two, just as there is an exchange rate between dollars and euros. The Fed could set this exchange rate at whatever level it wanted and would not be obligated to “defend” that rate at any particular level."
"What this means is if you go to the bank and withdraw $1,000, the bank might only give you $980 in cash because of the “exchange rate” between your bank account and cash. Or if you deposit $1,000 in cash, the bank might only credit your bank account $980 because of the same “exchange rate” between your cash and the bank account balance. In short, it’s a way to impose negative interest rates on physical cash....."
after the abandonment of the gold standard, all money is just numbers on a ledger. "cash" just means liquidity. actual greenbacks can be printed or burned at will and are irrelevant to the status of such accounts.
like, your social security contributions are not bills sitting in some vault. they're just numbers on a ledger.
basically all we have is credits and debits. it's all we've ever had anyway.
printing actual pieces of wood pulp with all sorts of guarantees of legitimacy on it has an actual material cost in excess of the computer systems that keep track of it, so attaching a price to it is not an irrational thing. sorta like charging for the shopping bags you use at the store when you don't bring reusable ones. in santa fe you pay 10c per paper bag and there are no plastic ones.
"would you like your money paper or digital?"
"that'll be 10 cents per bill" (or something)