Negative Interest Rates & The War On Cash, Part 3: “Beware The Promoters”
by Nicole Foss via The Autiomatic Earth blog,
ZeroHedge.com
Sep 10, 2016
The main promoters of cash elimination in favour of electronic currency are Willem Buiter, Kenneth Rogoff, and Miles Kimball... in order to implement substantially negative interest rates…“If all central bank liabilities were electronic, paying a negative interest on reserves (basically charging a fee) would be trivial. But as long as central banks stand ready to convert electronic deposits to zero-interest paper currency in unlimited amounts, it suddenly becomes very hard to push interest rates below levels of, say, -0.25 to -0.50 percent, certainly not on a sustained basis. Hoarding cash may be inconvenient and risky, but if rates become too negative, it becomes worth it.”
The Rest…HERE
