You can't really think Calle is a scammer. He's working on something that has a trust model with specific implications, and may in the end not be a great scaling solution. That doesn't mean he's a scammer.

I think there was confusion because of a stupid argument that "e-cash is a bearer asset". This is technically true, in exactly the same way that a dollar bill is. There is a layer of trust abstracted away.

I'm not particularly bullish on e-cash, but I think it's possible to have a solution where mints provide snapshots of their issuance that is contestable by all holders of e-cash created by that mint. It doesn't solve the rug risk, but it solves fractional reserves.