Hang Onto Your Wallets: Negative Interest, the War on Cash and the $10 Trillion Bail-in

http://www.counterpunch.org/2015/11/20/hang-onto-your-wallets-negative-interest-the-war-on-cash-and-the-10-trillion-bail-in/

`The scheme to impose negative interest and eliminate cash seems so unlikely to stimulate the economy that one wonders if that is the real motive. Stopping tax evaders and terrorists (real or presumed) are other proposed justifications for going cashless. Economist Martin Armstrong goes further and suggests that the goal is to gain totalitarian control over our money. In a cashless society, our savings can be taxed away by the banks; the threat of bank runs by worried savers can be eliminated; and the too-big-to-fail banks can be assured that ample deposits will be there when they need to confiscate them through bail-ins to stay afloat.''