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http://edition.cnn.com/2014/07/02/business/is-a-cashless-society-on-the-cards/index.html?iid=article_sidebar An interesting article about the decline of paper currency in civilized society. One can surmise that the absolute end of physical paper/metal currency is not far off. The technology is now ubiquitous and the advantages are palpable. As I discussed in an earlier post, this has wider economic implications as it is the first step in greatly reducing or even eliminating a government's ability to harm anybody with currency inflation. If nobody actually carries any physical currency, then the whole of our liquid net worth--every last penny--is stored in computer memory somewhere, which can be rapidly manipulated and quickly traded out of any particular currency instantly and automatically, making the currency your savings is denominated essentially meaningless. The existence of this phenomenon would in turn make intentional currency inflation self-defeating for any government that tried it.