The War Against Cash

Cash is the enemy because privacy is the enemy, and privacy is the enemy because it makes governmental control difficult. But the very philosophy of cashless society, as expressed, is a stand against the Fourth Amendment of the U.S. Constitution, because it would be well-nigh impossible to find a purer expression of “unreasonable search” than guaranteed governmental availability to all personal financial transactions. Any truly anonymous electronic exchange would be of no value to governmental inspectors, as Rogoff made clear: “[A]nonymous electronic fiat money has all the drawbacks of an anonymous paper currency in facilitating tax evasion and illegal activity.”

Source: The War Against Cash