Originally Posted by tesla69
maybe for you, but when the banks hold your money, you just lost all your liberty. Will the bank allow you to spend your money in a certain place? Maybe. You will no longer have that decision. The banks will make that for you. Everytime you want something, you will need permission. You've made it apparent to the board you live your life on your knees, so this won't bother you.
This is India right now, and they are going to bring it to Europe next because Europeans seem to be very very stupid when it comes to matters of individual liberty.
i haven't looked at that video but i'll just address your crackpot signs of dementia here.
one, the banks already hold the money. they in fact create the money. without the backing of our central bank, that grimy dollar you're clutching in your filthy hand is absolutely worthless.
two, i don't have to "ask permission" to buy something that's within the bounds of the law to purchase. even with big woopty items like guns, which are legal in my state, i need a background check but i require no registration. what do you want to buy with your secret cash money? little children? i bet you do.
three, india has a massive problem with corruption, the likes of which you do not know or comprehend or have experienced, never having left your own little ghetto.
the attempt to stamp out small denominations in india is to reduce the amount of bribes you have to hand out to do everything and anything there.
will that end corruption? certainly not. corruption will just move to digital/encrypted/anonymous currencies or some other form of currency-- much like prison cigarettes. but it will make small criminal transactions a little more difficult, and normal life a little easier.
this is an attempt to clean up their country that has nothing to do with your desire to buy little children from that place.
there are two issues with cash that we've been discussing for a while, but you're too addled and paranoid to comprehend them in an objective way. i'll repeat them anyway, for reasonable people.
one is the cost of maintaining paper money. adding a tax to that paper issuance and maintenance process is not unjustified if you still want to use paper in a digital age. a tax on paper just reflects the cost of maintaining paper currency. the externality gets internalized. i.e., let those who want paper pay for it instead of getting subsidized by everyone else. a tax on paper allows you in fact to continue using paper rather than having it disappear.
two is the issue of liberty and anonimity. there are already digital currencies that have been enabling anonymous transactions for a while, and if cash ever disappears or is taxed at an uncomfortable rate, such alternatives will just proliferate to fill that niche.
but feel free to ignore what i said and go off on further lunatic rants about a world that's leaving you behind because you're too mentally lazy to learn new things and prefer to entrench yourself in fear.