A benefit of eliminating cash and moving to a digital economy, they claim, is combating crime.
Not least of all because, unlike digital, cash requires a face-to-face transaction.
In 2021, a criminal ring attempting to launder money in Canada was caught when they tried to deposit large amounts of cash with a bank.
You can browse Prof. Dowd's articles about 'The War on Cash' on his website HERE. Our article is paraphrased from a blog he wrote, as published on the Institute of Economic Affairs website, and his 2019 essay titled 'The war on cash is about much more than cash'.
Among the principal benefits claimed for the so-called War on Cash are that it would help combat crime and it would give central banks additional room for monetary policy manoeuvre.
If we should abolish cash because bad guys use it, then the same argument applies to everything else they use including digital money, which is more widely used for criminal activities than cash itself.
The use of cash confers important benefits that digital money does not.
https://expose-news.com/2024/05/06/the-war-on-cash-whos-behind-it/
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