Sunday, January 24, 2016

NORWAY'S BIGGEST BANK DEMANDS CASH BAN

Why Now? Why are governments suddenly so keen to ban physical cash?
The answer appears to be that the banks and government authorities are anticipating bail-ins, steeply negative interest rates and hefty fees on cash, and they want to close any opening regular depositors might have to escape these forms of officially sanctioned theft. The escape mechanism from bail-ins and fees on cash deposits is physical cash, and hence the sudden flurry of calls to eliminate cash as a relic of a bygone age - that is an age when commoners had someway to safeguard their money from bail-ins and bankers' control.

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