This article was originally published on WOLF STREET
The war on cash is escalating. As Mises’ Jo Salerno reports, the latest combatant to join the fray is JP Morgan Chase, the largest bank in the U.S., which recently enacted a policy restricting the use of cash in selected markets; bans cash payments for credit cards, mortgages, and auto loans; and disallows the storage of “any cash or coins” in safe deposit boxes. In other words, the war has moved on from one of words to actions.
Here are ten quotes that should chill the spine of any individual who cherishes his or her freedom and anonymity:
1. Kenneth Rogoff (from the intro to his paper The Costs and Benefits to Phasing Out Paper Currency):
Despite advances in transactions technologies, paper currency still constitutes a notable percentage of the money supply in most countries… Yet, it has important drawbacks. First, it…
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