That is such a crazy idea. This is all about banks wanting to control what people can do with their money. This trend has been building up for some time (http://mises.org/blog/swedens-war-cash-news-frontlines). Don't support it. Don't trust it. Use cash. Better yet, use bitcoins.
Did I get it right that the point is to be able to have an interest rate which is even more negative than it is now?
'Cause it seems like if there were no cash then there's still commodities investment. Or purchase foreign currency (assuming that isn't taxed.) Of course the poors can't do that. Sucks for me then.
Even worse for the unbanked, who do things like pay the rent in cash. With a proposed max bill size of $5, a $600/month rent is about inch thick, and tedious to have to count.
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[ 3.9 ms ] story [ 10.5 ms ] thread'Cause it seems like if there were no cash then there's still commodities investment. Or purchase foreign currency (assuming that isn't taxed.) Of course the poors can't do that. Sucks for me then.
Even worse for the unbanked, who do things like pay the rent in cash. With a proposed max bill size of $5, a $600/month rent is about inch thick, and tedious to have to count.