Geithner Wants To Get Rid of Physical Currency (Better Tracking)
by Gary North
Timothy Geithner, the Secretary of the Treasury, wants to get rid of paper money. He says it’s part of a cost-cutting measure.
Nonsense. It’s part of the government’s attempt to track our purchases. Its a plan to get rid of the underground economy, where people buy what they want, sell what they want, and leave no digital trail.
The government cannot control the cash markets. It wants to tax them. But paper money resists taxation.
A good article on this appeared last week by Austrian School economist Joe Salerno. It is posted here. He wrote this.