Geithner Wants to Get Rid of Physical Currency? (Better Tracking)
Timothy Geithner, the Secretary of the Treasury, wants to get rid of paper money. He says it’s part of a cost-cutting measure.
Nonsense. It’s part of the government’s attempt to track our purchases. Its a plan to get rid of the underground economy, where people buy what they want, sell what they want, and leave no digital trail.
The government cannot control the cash markets. It wants to tax them. But paper money resists taxation.
The ATM is our friend. No matter how hard the government tries to stamp out paper currency, people will use it. They buy freedom with it. They buy privacy.
Treasury Secretary Tim Geithner outlined how his department
will find savings, including $286 million in the next fiscal year, by changing
the materials that go into coins, replacing paper with electronic communications
and consolidating internal agencies.
The effort to find efficiencies is part of a broader effort by the Obama
administration to reduce budget deficits by $4 trillion over the next 10 years.