Central banks going full Zimbabwe! "The central message of this paper is that there are set of readily available approaches to enable DEEP NEGATIVE RATES that empowers the central bank"https://www.imf.org/en/Publications/WP/Issues/2019/04/29/Enabling-Deep-Negative-Rates-A-Guide-46598 …
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The "readily available approaches" include taking money from your bank account ("deep negative interest rates") and charging steep "rent" for or outright banning paper money.
However they recognize the need to sell this program slowly, by starting out with very small negative interest rates and paper money rental fees that don't get passed directly on to consumers. Won't be available in time for next recession (which may be starting as we speak).
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The war on cash continues!
New conversation -
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I suppose this is why dollar bills have dates…to enable accurate calculation of paper money rental fee.
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World’s been in a recession for 10 straight years. Except for the wealthy elites. Which of whom represents just a meager 1% of the world’s population.
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