poncho
Well-Known Member
In a moment of curious serendipity, a little over 90 minutes after we showed what a dystopian, centrally-planned, cashless society unleashed in a negative interest rate world would look like ("by forcing people and companies to convert their paper money into bank deposits, the hope is that they can be persuaded (coerced?) to spend that money rather than save it because those deposits will carry considerable costs"), and briefly after we laid out the countless recent warnings from "very serious people" that cash is evil and should be banned:
For those who were amused by our warning that a cashless world may be coming, here is precisely why the warning was issued, in Bloomberg's digital ink:
Bring On the Cashless Future
Continue . . . http://www.zerohedge.com/news/2016-01-31/bloomberg-op-ed-calls-end-cash
- Norway's Biggest Bank Demands Cash Ban
- Bank Of England Economist Calls For Cash Ban, Urges Negative Rates
- Citigroup's Gold "Expert" Demands A Cash Ban
- Leading German Keynesian Economist Calls For Cash Ban
For those who were amused by our warning that a cashless world may be coming, here is precisely why the warning was issued, in Bloomberg's digital ink:
Bring On the Cashless Future
Continue . . . http://www.zerohedge.com/news/2016-01-31/bloomberg-op-ed-calls-end-cash