Monthly Archives: April 2016

Harriet Tubman To Appear on $20 Bill.


The supremacy of physical cash is by no means clear . . . In fact because of its prevalence in the modern monetary system, it would be dangerously destabilizing to regard electronic money as somehow “inferior” to physical cash. Five dollars in e-money must be equal to five dollar bills. Anything less would undermine the electronic money that is used for the vast majority of transactions and makes up almost all liquid savings. So provided that the bank still permits money to be withdrawn in electronic form, refusing to allow physical cash withdrawal cannot break the law.

This is where identity politics always gets you: to the last place power resided but never to the place where it resides. Putting a black woman on the $20 bill at the same  time cash is being placed on suppression watch is The Last Psychiatrists’ “Roanoke” principle in action. Power is fleeting. Race/gender politics is the smokescreen it leaves behind so you can’t follow it.