Forecast at Hoover Monetary Policy Insider Conference: Cashless Economy is Coming to the U.S.

Ken Rogoff 

Harvard economist Ken Rogoff was a featured speaker at the "Strategies For Monetary Policy: A Policy Conference" held at the Hoover Institution on the campus of Stanford University last week Friday.

Rogoff, the author of  The Curse of Cash, is leading the elitist establishment push for a cashless economy.

At the conference, filled with major insiders and many top Federal Reserve Board officials, he told the group that he expects to see the first totally cashless country in five years. He said it will be a relatively small country. He said a large country will go cashless within 10 years (a large European country or possibly Japan) and that the United States will eventually follow.

This is all because they want to be able to charge negative rates on cash when they think it is necessary.

"No country has really done negative rates in the way that I think I'm talking about," Rogoff said.


Robert Wenzel is Editor & Publisher of EconomicPolicyJournal.com and Target Liberty. He also writes EPJ Daily Alert and is author of The Fed Flunks: My Speech at the New York Federal Reserve Bank and most recently Foundations of Private Property Society Theory: Anarchism for the Civilized Person Follow him on twitter:@wenzeleconomics and on LinkedIn. His youtube series is here: Robert Wenzel Talks Economics. More about Wenzel here.