systems worldwide will become a booming business. Hopefully, there will soon be more people in prison than out. More in gaol/jail than not; more jailed than there are jailers.
And who, exactly, will support and pay for all these good things?
Why—you will, of course!
You, you wee public benefactor, yes, you. So here is my own public service Good Deed of the week; I’m advising all to (a) vote for more ‘free market’ prisons, and (b) to frantically gobble up the shares as soon as they hit.
IF YOU DOUBT
my word just run your eyes over the below quote, and ponder the Law of Intended Consequences—
At the World Economic Forum in Davos Switzerland, Joseph Stiglitz the Nobel Prize-winning economist argued in favor of phasing out currency and moving toward a digital economy.
The view expressed by Stiglitz is similar to that of former IMF chief economist Kenneth Rogoff who has been arguing for many years that there is an urgent need to remove cash from the economy. It is held that cash provides support to the shadow economy and permits tax evasion. Some estimates suggest this could be up to $700 billion in the US.
The Governor of the Bank of England — Mark Carney — has expressed similar views in support of the removal of cash…
To read from source: CLICK HERE
paper, with paperweights
“Mr Argus, Sir?”
“Yes, Little Virginia?”
“Sir … don’t you mean ‘unintended’ consequences?”
“No, Ma’am. The guys manipulating the systems know exactly what the consequences will be—which is why they’re doing what they’re doing—the question some might ask is ‘why’ … but we never ask, do we?”
Any attempt to totally remove cash — i.e., money — implies the destruction of the medium of exchange and, ultimately, the market economy. The recent experiment in India to remove large denomination notes has caused serious havoc. Toward the end of last year Prime Minister Modi surprised his country by announcing the banning of 500 and 1,000 rupee notes, with some estimating that around 86 percent of all cash in circulation in India was no longer considered as legal tender.
Oh dear. But wait, it gets better—
Any policy directed at phasing out cash in order to stop the shadow economy has the effect of preventing individuals from employing their economy’s medium of exchange. This, however, is unlikely to succeed as individuals will always find various other goods or services to serve as money.
—and so we go back to Cans of Sardines. A question I must ask Little Virginia next time I see her is, who is wealthier—the starving guy with many meaningless trillions of dollars—
or the guy with something real to offer someone in exchange for something he wants; like perhaps the wealth below?
I really should invest in auto-mart machines, dispensing this time cans of fishy cash rather than coffee or doughnuts. Bank ATMs would go out of business …
IT’S BEEN DONE BEFORE
(the sardines thing) within living memory—and as Santayana said “Those turkeys who don’t learn the lessons of the past will keep repeating them until eventually they just might” (words to that effect, please forgive paraphrasing).