-Caveat Lector-
In a message dated 10/27/1999 7:12:58 PM Eastern Daylight Time,
[EMAIL PROTECTED] writes:
<< "The magnetic strip could visibly record when a bill was last withdrawn
from
the banking system. A carry tax could be deducted from each bill upon
deposit according to how long the bill was in circulation," Goodfriend wrote
in a recent presentation to a Federal Reserve System conference in
Woodstock, Vermont.
The 34-page paper argues a carry tax will discourage "hoarding" currency,
deter black market and criminal activities, and boost economic stability
during deflationary periods when interest rates hover near zero.
It says new technology finally makes such a scheme feasible. >>
Well aren't we lucky? Welcome to l984 and beyond. Prudy
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