Large denomination physical cash is going to be outlawed if central bankers have their way. The push toward a fully digitized monetary system─where every transaction will be recorded, scrutinized, controlled, and taxed─is being sold to the public as some miracle elixir to cure the world of criminal behavior.
It can be argued that up until a few years ago there were still ways to exist off the grid and operate outside the monetary system, but the implementation of negative interest rates has now virtually assured that cash, as we know it, is on its last leg.
You can have cash or you can have negative interest rates, but you can’t have both. If negative interest rates are further reduced, what could be described as slow motion bank runs will likely ensue. The common man, seeing his hard earned savings robbed with each declining monthly bank statement, will finally awaken from complacency and begin actively withdrawing their money in physical form, thereby endangering the very foundation of fractional reserve finance.
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