There is an echo chamber of economic elitists, corporatists and officials forming to eliminate physical money in favor of creating a digital means of engaging in commerce that governments would control. One of the latest examples is Jim Leaviss, head of retail fixed interest at M&G Investments, who wrote recently in Britain’s Telegraph newspaper that a proposed new Denmark law should be viewed as a first step — a model, if you will — of abolishing “physical currency” and “normal bank accounts,” all to give “governments futuristic new tools to fight the cycle of ‘boom and bust.'” 

Leaviss says the Danish proposal “sounds innocuous enough on the surface”; it would give local businesses and shops the right to refuse cash payments and instead insist that customers use “contactless debit cards” or another means of electronic payment. He continues: Officially, the aim is to ease “administrative and financial burdens,” such as the cost of hiring a security service to send cash to the bank, and is part of a program of reforms aimed at boosting growth – there is evidence that high cash usage in an economy acts as a drag. FULL REPORT