The International Monetary Fund (IMF) in Washington has published a Working Paper on “de-cashing” the economy.
IMF-Analyst Alexei Kireyev recommends in his conclusions:
“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 transferable deposits, and further computerizing the financial system.”
Martin Armstrong comments: “The paper does not advocate eliminating cash. It merely goes through the plus and minus to such a policy .. This is all about the collapse in socialism and the desperate need to raise money.”