Social security is safer in less cash quickchm

Less cash society more fair and secure the opinion leaders of sina finance (WeChat public kopleader) agency column Project Syndicate author Kenneth Rogoff, a professor of economics at Harvard University?. His book "money" issue in the curse of the recent published by the Princeton University press to reduce the use of paper money will not end the crime and tax evasion; but will be forced to use the underground economy more risky, illiquid payment. Although the cash in today’s high-tech financial world seems trivial, the benefits of phasing out most paper money are far greater than you might think. Cash less social security in the world has fallen into a more equitable notes in a vast expanse of water in major countries, the central bank will release the equivalent of hundreds of billions of dollars of money, and is like a $100 large denomination banknotes. These $100 bills have taken up nearly $4200 of the $80% in cash per capita in the u.s.. 10 thousand yen banknotes ($100) accounted for 90% of the total Japanese currency, while the per capita cash holdings of about $7000. At the same time, as the author has pointed out in the last twenty years, all of this cash is mainly used to promote the growth of the underground economy rather than the legal economy. The author is not advocating a cashless society, because it is neither feasible nor desirable in the short term. But a less cash society would be a fairer and safer place. With the development of debit cards, electronic transfers and mobile payments, the use of cash has been gradually reduced in the legal economy (especially in large and medium transactions). The central bank survey shows that only a small proportion of large denomination notes are held and used by ordinary people or businesses. Cash is conducive to crime because it is anonymous, and easy to carry and hide large denomination bills are especially problematic. You have to have a briefcase to hold $1 million worth of $100 bills, and the same amount of money would be enough for a 500 dollar bill. There are, of course, many ways to bribe officials, engage in financial crime, and evade taxes without the help of paper money. But most of these involve very high transaction costs (such as uncut bare diamonds) or the risk of detection (e.g. by bank transfer or credit card payments). In addition, for example bitcoin in escape investigation almost impregnable in the new era of encryption currency almost can be used for the above purpose. But their value is often volatile, and the government can also use a number of measures to limit its use, such as the prohibition of banks or retail stores to accept such currency. Cash is not the existence of such problems, because of its strong liquidity and almost smoothly. The cost of tax evasion is staggering, with only $700 billion in the United States (including federal, state and local taxes), and even higher taxes in europe. Although the crime and corruption are difficult to quantify, but will almost certainly produce greater cost, not only including illegal drugs and drug trafficking and terrorism, fraud and blackmail and impose exactions on. In addition,)相关的主题文章:

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