In response to an FT article by Chris Giles on 23rd September 2015, entitled 'In cash we trust - abolish and you invite tyranny'
"In cash we trust — abolish it and you invite tyranny"
Thank you Mr Giles, after the three recent articles advocating this insidious nonsense I was beginning to think Mr Barber had started a rota.
History is full of examples of desperate governments, who, having led their nations to economic and foreign policy disaster, then began the process of strip mining their population to pay for their excesses. I'm sure, that had they possessed the technology available today and a supply of 'useful fools' like Mr Haldane available to rationalise their strip mining for them, they could have made the job much easier for themselves.
Here's a little thought experiment: Make a mental list of five historical tyrants and ask yourself what they would have done with the power this idiotic proposal would give to the state. Then ask yourself: What would Thomas Jefferson have thought of this idea?
To anyone who thinks that this kind of thing could never happen here, that's generally what people think just before it does. It’s also worth considering that our grandchildren will not inherit our politicians, but they will inherit the political framework we bequeath them, into which will step sociopaths as well as saints. Any society that gives the state unbridled power is asking for trouble.
On a brighter note, the intellectual shredding that the readership meted out to whoever wrote "The case for retiring another ‘barbarous relic’", to Mr Haldane in "Scrap cash altogether, says Bank of England’s chief economist", and yesterday to Mr Kay for "The mystery of the vanishing dollars, euros and pounds"...has been highly entertaining, and from my point of view, reassuring - the 'useful fools' are not having much luck flogging their snake oil to the readership of the FT.