I guess when the happens, only criminals will have cold hard cash.
Here is the first page of an interesting article titled
The Abolition of Cash
by Andrew Stuttaford
In the April 11, 2016 issued of the National Review
He points out that the American government has already phased out $10,000, $5,000, $1,000 and $500 bills. The highest bill currently in circulation in the USA is the lowly $100 bill.
I couldn't get a copy of the current article because I suspect it was only published this month, but here is a snip of verbiage that asks you to by the current article.
Governments prefer e-money; citizens should not. Government gathers power sometimes in great swoops, sometimes by stealth, and sometimes in slow, sly increments, foreshadowed by position papers, op-eds, and regulatory tweaks designed to address an “issue” that a careless citizenry has overlooked.
It’s this slower, slyer approach that is now in motion as Big Brother’s smaller brethren take aim at cash. An advance guard of regulation has paved the way. Deposit more than $10,000 in cash into a bank and the feds have to be told. Bring that amount into the U.S. and Customs has to be told. Get stopped by the police with “too much” cash (a conveniently elastic concept) and you risk watching it disappear into the swamp known as civil forfeiture. Meanwhile, the country’s Croesus bills have long since vanished — $10,000, $5,000, $1,000, even the $500 that bore the face of poor murdered McKinley. Under the circumstances, they might have let him keep his mountain.
SNIP
