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Friday, February 19, 2016

The First Steps to Ending Currency

http://viableopposition.blogspot.ca/2016/02/the-first-steps-to-ending-currency.html

While I don't want to sound like a broken record, it is becoming increasingly clear that the Federal Reserve, other central banks and governments around the world are laying the foundation for a negative interest rate environment that will more than likely be imposed during the next recession.  Governments are involved because they play a very key role in any movement toward negative interest rates since it is obvious that if consumers are paying for the "privilege" of holding funds in a bank, many will simply convert at least some of their savings to cash, an issue that could prove to be problematic since the whole point of negative interest rates is to get consumers to spend more.  Obviously, the only way to beat consumers at this game is to put an end to cash, one way or another.

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