New Salvo in War on Cash

The attack on cash has entered a new stage.

Kenneth Rogoff, the Thomas D. Cabot Professor of Public Policy at Harvard University and the former chief economist of the International Monetary Fund, is out with an essay this morning in the Wall Street Journal titled,The Sinister Side of Cash.…

…Getting rid of most of it—that is, moving to a society where cash is used less frequently and mainly for small transactions—could be a big help...

There is little debate among law-enforcement agencies that paper currency, especially large notes such as the U.S. $100 bill, facilitates crime: racketeering, extortion, money laundering, drug and human trafficking, the corruption of public officials, not to mention terrorism.…