If you are assuming how a hypothetical future currency will work then we could easily assume exactly the opposite and the money would be destroyed by a set date to maintain some stable rate of deflation. Do you have evidence that a time to live for a currency is being considered by the Federal Reserve and US government?
That’s fair enough. Ostensibly the government of any country should be accountable to the people but history shows that cannot be counted on.
As convenient as Apple Pay is, I would not vote for a cashless system. I am just confused that very specific ideas of how this hypothetical system is going to work and am not sure where these come from or why it has to work the way people say and not in a more accountable less abusive manner. Expiring money seems patently absurd so why a central bank would consider it seems so outlandish to me at least.
If you are assuming how a hypothetical future currency will work then we could easily assume exactly the opposite and the money would be destroyed by a set date to maintain some stable rate of deflation. Do you have evidence that a time to live for a currency is being considered by the Federal Reserve and US government?
No, but I have plenty of evidence to suggest that the US government doesn't have our best interests at heart...
That’s fair enough. Ostensibly the government of any country should be accountable to the people but history shows that cannot be counted on.
As convenient as Apple Pay is, I would not vote for a cashless system. I am just confused that very specific ideas of how this hypothetical system is going to work and am not sure where these come from or why it has to work the way people say and not in a more accountable less abusive manner. Expiring money seems patently absurd so why a central bank would consider it seems so outlandish to me at least.
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The TTL would have to reset at awkward points. Like paying out salaries otherwise you could just wash trade the TTL away.
I just don't see how this is realistic. It is basically impossible to enforce.
I assume it would accelerate.