Eliminating cash will not only allow taxation of your savings through negative interest rates, as I noted recently. It will also allow the government to keep track of every single thing you buy. You think that sounds paranoid? I suggest you think about it not in the context of what you do, but in the context of what others do that is legal, but not favored in polite society. Just how much power do you want to give banks and their regulators to control what you can and can’t do with your money? There’s a thoughtful post on the subject that I recommend if you are interested, at the Simple Justice blog.
The contents of this blog, this web site, and any writings by me that are linked here, are all my personal commentary. None of it is intended to be legal advice for your situation.