UN-IMF explains to Governments how to Subvert Public Resistance Against Elimination of Cash

Pedestrians walk past the International Monetary Fund headquarters’ complex in Washington Sunday, May 2, 2010. A senior International Monetary Fund official says the IMF’s executive board is meeting in Washington to consider how much aid to grant Athens under a massive rescue loan package. (Cliff Owen)

UN-IMF tells governments how to subvert public resistance against elimination of cash

The International Monetary Fund (IMF) in Washington has published a Working Paper on “de-cashing”. It gives advice to governments who want to abolish cash against the will of their citizenry. Move slowly, starting with seemingly harmless measures, is part of that advice.

In “The Macroeconomics of De-Cashing”, IMF-Analyst Alexei Kireyev recommends in his conclusions:

Christine Madeleine Odette Lagarde (born 1 January 1956) is a French BAR Attorney and politician who has been the Managing Director (MD) of the International Monetary Fund (IMF) since 5 July 2011.  Convicted of negligence in December 2016, she remains the IMF Head due to all the secrets she knows and could spill.

Although some countries most likely will de-cash in a few years, going completely cashless should be phased in steps. The de-cashing process could build on the initial and largely uncontested steps, such as the phasing out of large denomination bills, the placement of ceilings on cash transactions, and the reporting of cash moves across the borders. Further steps could include creating economic incentives to reduce the use of cash in transactions, simplifying the opening and use of transferrable deposits, and further computerizing the financial system. 

Continue reading UN-IMF explains to Governments how to Subvert Public Resistance Against Elimination of Cash

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