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

Withdraw and put elsewhere.

Banks would be screwed.

a reply to: boohoo

I appreciate and understand the points you make and I agree thats larelgy the way things will be. However what you describe I suspect is more likely to drive the depopulation agenda more that anything else. As you rightly point out, when robots reach a certain stage of development it will simply make 90% of the people in the world redundent if what appears to be the current thinking about wealth distribution remaines in force.

Redundancy simply means reserving planet earth for a population that will provide human diverity, enough people to have a servant class to eanble the right to be the super citzens to be who they currently are but at the same time have all the cities that exist all around the world to give them places to go and things to do.

The last thing the supercitzens will want is get that feeling that they are only one left in the world. Whats the point in being a traillionaire if you have no one to laud it over and feel superior to?

They will all wants to have a popuation to be part of, to enjoy but still be in charge of. One cant be a king if one has no people to be king of.

So as I see it; when they get what they want and I suspect they will get it, they will simply do away with most of us. I suppose we can only hope they will at least do it in a humane way.

a reply to: boohoo

An early example is how many stores not only offer a credit card, but offer a debit card that connects directly to your checking account. Target has their red card, and when I worked at Nordstrom we had a debit card as well. The point being, as we told customers, was that they earn rewards while not having to have another credit card; no credit check, no impact on credit reports, etc.
However, while working at Nordstrom I was told that it was the Department of Homeland Security that had asked Nordstrom to offer the debit card so that purchases can be tracked. A easy example of why this was "helpful" was large thefts and returns, where cash was being funneled to the Russian mafia...this actually happened in my store I worked at, however I know the end goal of governments is to eliminate cash all together.

Despite the certainty that TPTB want to eliminate cash (their reasons speculated upon throughout this thread) there is one important goldmine that hasn't thus far been touched upon - if it has and i missed the post, i apologise in advance and will remove this post, but...

Drugs.

The government can't take away the cash before they either take away or legalise what it is that generates so much cash revenue. Wipe out cash before legalising the drugs and there will be a huge hole in the GDP.
So, if we assume that they wouldn't give up on such a tried and tested money maker, then we need to assume that legalisation will be happening nationwide first.

(and by the time that happens, everyone will be too high to even care how much the gov are running their accounts)


Certainly not the current situation but involves a big fat piggy bank worth noting.