Thursday, January 26, 2017

The USA Should Get Rid of Cash

The headlines calling the world to a cashless society just keep on coming!

The US should get rid of cash and move to a digital currency, says this Nobel Laureate economist

Indian Prime Minister Narendra Modi has already removed 86% of his country's currency from circulation in an attempt to curb tax evasion, tackle corruption and shut down the shadow economy.

Should the US follow suit?

Joseph Stiglitz, Nobel Prize-winning economist, thinks so. Phasing out currency and moving towards a digital economy would, over the long term, have “benefits that outweigh the cost,” the Columbia University professor said on day one of the World Economic Forum's Annual Meeting in Davos.

Stiglitz was speaking in the session Ending Corruption alongside Mark Pieth from the Basel Institute of Governance and APCO Worldwide Founder and Executive Chairman Margery Kraus. Stiglitz and Pieth co-authored a report, Overcoming the Shadow Economy, in November last year.

Quantifying the scale of the problem, Stiglitz said: “You can put it into the context of one of the big issues being discussed in Davos this year – the backlash against globalization, the darker side of globalization ... The lack of transparency in global financial markets, the secrecy havens that the Panama Papers exposed, just reinforced what we already knew ... There is a global framework for both corruption and tax evasion and tax avoidance.

“The fact that you can hide ill-gotten gains so easily in these secrecy havens really provides incentives for people to engage in this activity as they can get the economic returns and then enjoy the benefits of those returns. If there were not these secrecy havens then the benefits from engaging in these kinds of illicit activity would be much diminished.”

“I believe very strongly that countries like the United States could and should move to a digital currency,” he said, “so that you would have the ability to trace this kind of corruption. There are important issues of privacy, cyber-security, but it would certainly have big advantages.”

We have been blogging about this for some time because the Bible has been saying it would happen all along!

For 2000 years now, people have read the passage in Revelation that told of the coming day when everyone on earth would have to have a mark to buy or sell anything....meaning THEY COULD NOT USE CASH.  And for those same 2000 years people read that passage and said, "That can't ever happen!  The world is too big!  There is no way that the whole world could ever do that!"

But now for the first time in human history we have the technology to make it a reality.

And now, for the first time in human history, the elite folks in Davos are calling for this very thing to start happening.

It will be cheaper, faster, more secure, less dirty, less crime. fight drugs, fight sex's all good!

But one day the Antichrist will use this cashless system to track down anyone he chooses....


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