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Saturday, June 20, 2009

Cashless Control Grid Inches Closer to Reality


Central bankers in Japan are mulling the abolition of cash. Richard Jerram, a senior economist with Macquarie bank, told investors that “the proposal has become practical with the broad penetration of electronic money and credit cards in Japan,” reports the Times Online. Bankers claim the scheme will rescue the economy from another deflationary spiral.

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