American Consequences - May 2020


the risks and dangers of cash are worth it for two reasons... First of all, you need cash so that you’re not stuck in a bad situation and don’t have cash. Yes, we’re moving toward a more virtual, fintech-y, contactless (or less contact, at any rate) world... But no matter what, it will be a while before a Ben Franklin (crisp or otherwise) does not speak louder than “Oh, what’s your Venmo account so that I can transfer... “ Secondly, I’m not a fan of every single financial transaction that I ever make being trackable and traceable. One of the nice things about cash is that it leaves no trail (which is an ironic thing to say given that we’re talking about germs, but bear with me). I can give someone $20 cash, they can do something for me, and it’s done... There’s no record of anything. Even if I’m not anxious to hide something, it doesn’t mean I want a record of everything. And that’s where cash is unbeatable. Many thanks for the article on the importance of cash. The excerpt from the 2003 Esquire magazine article brought something to mind for me. The late Dan Jenkins was a sportswriter, Texan, and golf nut all wrapped up into one funny human being. I first read his term for cash in his classic novel about professional football: Semi-Tough. The term “up-front whip-out” prettymuch covers everything cash is! – Jim G. Kim Iskyan comment: Jim, thank you for your

saving” actions, and the Media will sing their praises the loudest because their own moneygrubbing, fearmongering reporting throughout... Your next article may well be about how to destroy the world’s economies, obliterate the middle class, and walk away with a Nobel Prize for it! – Mark V. Buck Sexton comment: Mark, I think your cynical view is generally warranted here. Governor Cuomo, for example, has presided over the single largest COVID-19 disaster in the whole world (New York City) and somehow this has elevated him in the national press. Journalists were even talking about him as a possible last-minute replacement for Biden on the Democrat ticket (how this would have worked in practice, nobody knows). The exception to their praise for politicians is, of course, Trump... No matter what comes of this crisis in the end, there will be an enormous concerted effort to pile all the blame on his shoulders as the November election looms. Re: Take the Money In my opinion, in this era of the highly contagious COVID-19 virus impacting all globally, to advise piling up filthy, germ laden, cesspool paper money in any form is risky, dangerous, and downright stupid. – Dale H. Kim Iskyan comment: Dale, thanks for your thoughts. Handled correctly, and with the appropriate safeguards and care, I think that


May 2020

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