home of an old gray redneck

The future of money

posted feb 17, 2010

To all the other variables of the future which engender worry, we can now add money. According to this article, the Netherlands anticipates ending the use of cash in the near future. Later the same day I found another piece which says Greece, the perfect example of a government gone fiscally nuts, is going to outlaw cash transactions above a certain amount.

I suspect it will be some time before "electronic money only" hits this country, but if it does, there will need to be a repository of some type, perhaps something like a bank. And of course, there will be safeguards so that only those with the highest integrity will be allowed to see your records. Those few will, of course, be overseen by those paragons of purest principles, the Congress. Also please keep in mind one of the more obvious oxymorons of our times - internet security.

And if that's not enough to get your attention, due to my super secret, fiber optic based, future-gazing eyeglasses (though some disparagingly call them beer goggles), I can even see the final targets. Once all transactions must by law be electronic, the rulers will have access to everyone's records.

As the descent into state-controlled everything moves forward, taxes will continue to rise, but eventually even that will not be enough for our rulers. When that wall is hit, the only remaining step will be to begin to tax wealth. In other words, if your net worth is over a certain amount, which will be reduced on a to-be-determined schedule, a new tax will be enacted. They'll probably start it at ten percent, and quote from the Bible while pushing it. And since we now know the IRS will be armed with shotguns, there should be no problems with enforcing these three lines added to the bottom of your 1040.

  • What is your total net worth? _ _ _ _ _
  • Put ten percent of that here. _ _ _ _ _
  • Add above figure to your tax. _ _ _ _ _

The only real question will be what to call this new tax. I'm thinking something along the lines of OMG, WTF or, perhaps if honesty dares show up, STFU.


Postings this year

The next hard time - from mar 13
Dods & dens - from feb 20
The future of money - from feb 17
Confusion reigns - from feb 11
Hope and change, IRS version - from feb 3
Dods & dens - from jan 25
Senior moments - from jan 19
Poor Harry, poor me - from jan 13
A tribute to Barbara Mandrell - from jan 9
The educated class - from jan 8
The system worked - from jan 7