Sweden Begins 5 Year Countdown Until It Eliminates All Cash
by Tyler Durden
ZeroHedge.com
03/05/2016
How much louder can the “ban cash” calls get?
Recall it was just last year when we catalogued the growing cacophony of crazies for whom banning physcial currency is the only way to ensure that depositors can’t simply reassert their economic autonomy under a low or zero rate regime..
Put simply, if interest rates get too low, depositors will simply take their money out the bank and put it in the mattress or the safe where, to quote WSJ from last week, “interest rates are always low no matter what central bankers do.
Most recently, Larry Summers called for the abolition of the $100 bill in the US and in Europe the €500 note is to go the way of the dinosaurs.
Perhaps the most telling sign that citizens are starting to panic is that in Japan, they’re selling out of safes. Literally.
The Rest…HERE
