Odd Lots Why The War On Physical Cash Is A War On Freedom
Apr 17, 2020
Rohan Grey, President of The Modern Money Network, dives into the implications of shifting from physical cash to digital payments. He discusses the crucial role of cash in maintaining individual freedom and privacy, especially in fragile economic contexts. The conversation explores the balance between digital currencies and civil liberties, highlighting challenges like government surveillance. Grey emphasizes the need for innovative digital solutions that can protect privacy while ensuring compliance, framing the debate as a vital aspect of personal autonomy in a cashless society.
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Money and Governance
- Money has historically been a tool of public governance, deeply intertwined with law.
- States ultimately enforce contracts and property rights, influencing even private monetary relationships.
Defining Cash
- Cash represents bearer instruments, signifying ownership without a central ledger.
- Digital cash can function similarly, enabling transactions without intermediary tracking.
Government's Stake in Cash
- Governments benefit from cash as it counterbalances private intermediaries' power.
- Cash also offers practical advantages in situations like war zones or areas with undeveloped banking systems.
