CLEAN : Kenya's cash ban will be effective to formalise the economy: economist

The video discusses the process of extinguishing money in circulation, particularly focusing on corrupt or illegally obtained funds. It highlights the effectiveness of this approach, with evidence showing that about half of the $2 billion in 1000 shilling notes has been removed from circulation. Various methods of money laundering, such as using car dealerships and buying cows, are explored. The video emphasizes the need to formalize the economy and better control money flow, acknowledging that while some may lose out, these funds were often easily acquired.

How does the speaker describe the nature of the money that is being extinguished?

What are the potential consequences for those who lose money as a result of this economic control?