Is There Too Much Privacy in Money? With Former U.S. Treasury Secretary
summary
Argues that money already has too much privacy, citing the policy move to eliminate the 500 euro note and the scale of offshore laundering and tax evasion as reasons to limit anonymous large-value transfers. Explains the Fed’s recent balance-sheet growth and that those assets are largely bank reserves pay interest (more like short-term government debt), worries about blurred fiscal-monetary roles, and says the freedom to move multimillion dollar anonymity is a low-priority right.
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