When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Thursday, February 7, 2013

Cashing Out of Corruption

As I wrote recently, cash and coinage will soon disappear, but who will object to this disappearance of paper money and coins? Why, of course, bureaucrats, corrupt government officials, and crooks--

Cashing Out of Corruption | MIT Technology Review: " . . . Although the Afghan government recently sought proposals to expand mobile payments, such efforts have moved slowly in part because of “determined” resistance from some bank and police officials, says Loretta Michaels, a Washington, D.C., consultant who worked in Afghanistan with Roshan to implement the mobile money system. Corruption is a sensitive diplomatic issue with U.S. troops exiting the country, even as tens of billions in aid still pours in. McGowan, the USAID analyst, says electronic payments have the benefit of rooting out graft without singling out specific officials or looking like an “anticorruption crusade.”. . ."


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects