Mr Armageddon: ScoMo’s war on cash and on you

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The following video from Martin North with John Adams (AKA Mr Armageddon) makes for interesting viewing. There is a war on cash he says.

This doesn’t bother me overly. There are upsides to limiting the cash economy, not least in combating the crime and the money laundering that now sits at the centre of the collapse of integrity of Australia’s market economy, including:

  • wage theft;
  • cash property purchases;
  • cash business purchases,
  • and visa rorting.

But it is worthwhile discussion.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.