The Global War on Cash
[Editors Note: Below is an excellent Infographic which gives a great overview of the escalating global war on physical cash.
In my opinion the war on cash is totalitarianism dressed up as a moral crusade. If governments genuinely cared about drug money laundering, terrorism funding and money laundering they would:
- End the war on drugs (Which escalates drug prices on the Black market and incentivises drug trade)
- End fiat currency which facilitates the funding of large scale foreign conflicts (A major catalyst for terrorism) without direct taxation of the general citizenry, and political repercussions.
- Actually criminally prosecute banks who have carried out large scale money laundering.
(Point 2 is why people believe that Bitcoin in the long run could actually end large scale military conflicts)
Whilst I dont like fiat currency, the risk of removing the physical aspect of currency and making it purely digital risks dangerously centralising control of global currency with Banks and Governments which will no doubt overtime, turn into a draconian knightmare in light of the ongoing global financial crisis.
As well as yet another fundamental reason to invest, Bitcoin offers people a way to escape the war on cash, this move towards totalitarianism and a way to enable a decentralised financial system which upholds Sound money, liberty, freedom and Volutaryism as core principles.
Whilst I dont condone any illegal use of Bitcoin as described above, as a society I believe we need to address the core reasons for these certain nefarious uses of cash, rather than thinking a ban on cash is going to resolve these problems]