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Will the abolition of cash make us poorer?

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Because so many transactions don't enter electronic records, “it's easier to avoid tax in Germany than in the U.S. read more

However if cash were to be abolished a cash substitute would quickly arise to be used to settle debts. The article is not so much talking about the abolition of cash as it is talking about the mandatory storage of it in bank accounts. That in itself would neither make us richer nor poorer. read more

The first is cash: As long as people can hold currency, which loses its value only at the rate of inflation, they won't buy safe assets that yield even less. The second is the central bank's promise to keep the inflation rate low and stable -- at about 2 percent in most developed nations. read more

The world is drowning in cash—and it's making us poorer and less safe. In The Curse of Cash, Kenneth S. Rogoff, one of the world's leading economists, makes a persuasive and fascinating case for an idea that until recently would have seemed outlandish: getting rid of most paper money. read more

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