Peter's Blog

Monetary authorities increasingly argue for eliminating physical cash altogether, citing tax evasion, the shadow economy, and the instability caused when people run for cash during a crisis. But money is a commodity that emerged through voluntary market selection, not something a central bank can conjure by decree, and abolishing cash strikes at the medium of […]

Some so-called “experts” are pushing for the removal of cash. Here’s why this threatens the economy and drives society even further away from freedom and sound money.

Earlier this year, Ray Dalio quipped that “cash is trash.” During a recent Reddit “ask me anything” session, Dalio doubled down, warning that the rush into the US dollar is a mistake. Why? Because the Federal Reserve has fired up the printing press and is pumping out cash at a dizzying pace.

What would you do if the bank suddenly froze your account and you couldn’t access any of your money? Perhaps this sounds a little farfetched, but it certainly isn’t unprecedented. In fact, Chinese customers of some Spanish banks recently faced this exact scenario.