With negative interest rates speading and governments all over the world are trying to take full control of their citizens assets, and I can not help noticing a more and more obvious campaign to kill cash.
In the absence of cash, negative interest rates, levies and full control on citizen finances become possible.
This campaign is presented under various lights to show how BAD cash is:
- cash is so passe: great technology advance:pay with my phone, the latest app be trendy, do not have cash
- cash is hard work: just use paywave, BPay, direct credit, etc
- cash is for corruption and mafia/crime: articles in european and US press to reduce access to high value banknotes (anything above 100$ bills it seems is dirty: 500 euro and 100USD being favorite targets)
- cash is for tax rotters:GST and tax avoidance: as a PAYG, you can not hide your income, why would "they"?
- cash is unhealthy: all these germs...
- more to be added as the trend will get stronger
And this is seen in Europe/US and Australian media at all level: Financial magazines, TV, "popular" newspapers with an obvious new push in the last 6 months or so.
Anyone worried by this latest move?
And the obvious next step: while gold and PM have already some control in place, will it become a side target in the move to prevent physical weath storage instrument?
We are really going into unchartered territory....