Thread

1. FabHK · 1790098362 · focus · HN ↗

   Or maybe it's a good thing? In The Curse of Cash, economist Kenneth Rogoff (of austerity fame, or infamy) argues against cash, particularly large denomination bank notes and crypto, as accessories to crime, corruption, and tax evasion, and I'm with him there. But also, btw, because you can't impose negative interest rates on cash (but on deposits!) - not sure what to think about that.

   <a href="https:&#x2F;&#x2F;press.princeton.edu&#x2F;books&#x2F;hardcover&#x2F;9780691172132&#x2F;the-curse-of-cash" rel="nofollow">https:&#x2F;&#x2F;press.princeton.edu&#x2F;books&#x2F;hardcover&#x2F;9780691172132&#x2F;th...

   1. big_toast · 1790100147 · focus · HN ↗

      That&#x27;s part of why larger banknotes like the €500 euro were discontinued.

      Oliver Bullough on Odd Lots podcast[0] talked about this issue recently (the large denominations). I guess he had a book &quot;Everybody Loves Our Dollars&quot; that went into this too.

      I found the argument compelling but hopefully there&#x27;s a balance to be struck at individual vs organizational scales.

      [0]:<a href="https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=etylJHe_p7Q" rel="nofollow">https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=etylJHe_p7Q

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