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Who does the US policy elite think they’re kidding? James Howard Kunstler is the author of many books including (non-fiction) The Geography of Nowhere, The City in Mind: Notes on the Urban Condition, Home from Nowhere, The Long Emergency, and Too Much Magic: Wishful Thinking, Technology and the Fate of the Nation.

These memes in financial and foreign policy are dangerously crazy and dishonest. His novels include World Made By Hand, The Witch of Hebron, Maggie Darling — A Modern Romance, The Halloween Ball, an Embarrassment of Riches, and many others.

Cash, he says, allows this axis of evil to do its thing(s). If currency is eliminated, these outfits will turn to gold and silver, it’s that simple. The real reason to abolish cash and herd all money into central banks is to permit the authorities to confiscate it one way or another, either by unavoidable taxation or by “bail-ins” — declaring deposits to be “unsecured loans” that can be repudiated in the event of a financial “accident.” The results are already in for this experiment: “money” becomes more and more dishonest, that is, it cannot be trusted to represent what it pretends to stand for: an index of account and a store of value.

Its role as the basis of capital formation is so impaired that real capital (i.e.

It would be much harder to hide the destruction of value in circulating paper currency.

Eliminating currency as a medium of exchange can only lead to the repudiation of “money” — which will beat a quick path to the repudiation of all authority.

Trump offers incoherent rhetoric in opposition to the current dismal order of things; Clinton offers empty, pandering rhetoric in defense of that order.

Both represent an epic national drive toward political suicide.

Zero interest rate policy eventually equals zero principal paid.Or, stretching credulity to suppose that AARP is honest, perhaps the org’s executives don’t understand that zero interest on savings equals zero income to savers.Kenneth Rogoff tries to justify his war on cash by invoking two of the era’s favorite bogymen: terrorists and drug dealers.Submitted for your approval: Harvard wizard Kenneth Rogoff’s new book, .This is the latest salvo in the international campaign to herd all money into the control of central banks and central governments, supposedly to make central planning of the economy more effective — but really for the purpose of extending the fallacy that the mis-pricing of credit and collateral (that is, of everything) can save the current incarnation of crony capitalism, and more to the point, save the fortunes of the racketeers running it, along with the reputations of their intellectual errand boys.

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