Techno Cash: The War on Cash is Only Half the Story | Mises Wire

You can imagine the future public relations campaign. Traceable currency units will allow Official Authorities to prevent any number of terrorist attacks, drug sales, and sex traffickers, so the propaganda will read. Imagine a digital, global heat-map at the NSA with colored pins for the location of various units of currency of interest.

eye2Now which sounds more likely from the point of view of state agents? Option 1: Combat fierce public outcry (fueled by the haunting cash-strapped, bank-run-imminent mindset) at incremental interventions toward the elimination of paper currency in circulation. Or Option 2: Co-opt the American fixation with paper currency by re-branding it with images and concepts that generate mass public approval, and re-design it with traceable tech so as to effectively rip the cloak of anonymity offered by transacting in cash while preserving its mass use.

In this light, it should be clear that state agents are not interested in a War on Cash per se, but rather: a War on Anonymity.

The question becomes how best to win this war against privacy and freedom: purposely provoke active opposition to the elimination of a central fixture of American history, and for many, of Americans’ daily lives; or, acquiesce to public outcry and simply swap out the old, politically incorrect currency units, for new, socially just, generally popular, globally traceable ones?

Source: Techno Cash: The War on Cash is Only Half the Story | Mises Wire