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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 395.89

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Dec 16 4:00 PM EST

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To: ggersh who wrote (85988)	1/17/2012 11:57:19 PM
From: Riskmgmt	Read Replies (2) of 218538

"But are there any firms left that anyone can trust anymore?" Yes, one wonders!! Maybe this is the end game. An article on Bloomberg from a Mr. Crook, (seriously that's the name) quotes Willemstad Buiter who argues for " a world without physical cash" As he states it would be a nuisance MAINLY for criminals, so here is the old line, honest people don't need to worry, if you have nothing to hide why would you desire the anonymity of cash? Seeing what governments and bankers have done so far can you imagine what they could do if they could remove physical money?? Welcome to 1984!! bloomberg.com " Another possibility sounds outlandish, but don’t dismiss it out of hand. Find ways of making nominal interest rates go negative. The main bar to this is the existence of physical currency, which pays a guaranteed interest rate of zero. Driving the return on bank balances and other stores of value to less than nothing -- that is, making lenders pay interest to borrowers -- is hard as long as lenders have cash as an alternative. One day, this will change. If you have ever used a credit card to buy a cup of coffee, you should find a world without physical cash easy to imagine. As the economist Willem Buiter has pointed out, in advanced economies the disappearance of physical money would be a nuisance mainly for criminals, who need it for purposes of anonymity. Once money is entirely in the form of electronic balances, Buiter argues, there would be no reason for zero to bind the central bank."

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