Richard Thaler along with Cass Sunstein wrote a book called, Nudge: Improving Decisions about Health, Wealth, and Happiness. It's a manual on how the government should manipulate the masses. I discussed this bizarre best seller, here and here. It's a very dangerous book.
Given Thaler's overall bent to manipulate the masses through "nudges," it is no surprise that he would come out in favor of Larry Summers call to ban the $100 bill. It's all about transferring power and control to government.
I completely agree with Larry on this. https://t.co/A9XAiAqmqZ— Richard H Thaler (@R_Thaler) February 17, 2016
The compelling case for stopping issuance of high denomination notes like 500 euro note & $100 bill: https://t.co/GEeeOpwsYG @Wonkblog— Lawrence H. Summers (@LHSummers) February 17, 2016
-RW
Are black ops people really going to be ok with no cash? How are they going to get their supplemental "off-the-books" funding? How are they going to bribe local strongmen in far away countries? There is A LOT of money on the table in black market economies. Cash will always exist or black markets will switch to gold and silver...you know the govt doesn't want that.
ReplyDeleteThe moves to abolish cash is just some elitist wet dream that will never come true. Black market circulation is a leg that dollar stands on. Take it away and another currency or medium will take its place.