Harvard professor on Curse of Cash

http://video.cnbc.com/gallery/?video=3000548776

Couple of interesting statements:

There are 4,000 $100 bills in circulation for every man, woman and child in the US. In many foreign countries up to 90% of US bills are $100 denominations.

Regarding Bitcoin he states “They allow it for now and they’ll prevent it in the future”. Other than outlawing Bitcoin, like FDR outlawed gold, that shows massive ignorance on the ability to control Bitcoin.

“We’re not even a big cash printing country compared to Japan.” Go USA!

“The government makes a fortune off printing cash.” No kidding!

This guy is an asshat of the first order.

About coinspeak

20 years as an IT consultant. Escaped the rat race in 2015. Addicted to travel and tacos.

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