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Originally posted by AQuestion
Here is a thought, how would you sell people on all electronic money? I mean people like cash, so how do you find a way to make them accept the end of cash, of paper currency? My thought is that you have to offer people a cookie, a clear benefit that they want. For the past few years we have all been bombarded with talk about how the bankers and central banks are the cause of all of our problems. If you have an all electronic currency then central banks become meaningless except for their regulating of other banks. Wait a second, if currency is all electronic, do you even need banks at all?
The elimination of privately owned central banks, like the Federal Reserve, would mean that much of the nations debt would simply disappear. Ron Paul suggested nationalizing the Federal Reserve and discussed how that would make trillions of dollars that we owe to ourselves go away. Who would then control the electronic money, what about the US Treasury and eventually the United Nations. With an all electronic currency you would need international cooperation or you could not pay each other. The end result is that all currencies would need to be based on the same thing, be it gold, silver, mineral wealth, labor force, infrastructure, whatever. Just some thoughts, peace.
Here is a thought, how would you sell people on all electronic money? I mean people like cash, so how do you find a way to make them accept the end of cash, of paper currency?
That depends....Who'll control the electronic currency?