The effect of negative interest rates in Switzerland and Sweden, and 'the war on cash' - Business Insider
If you use too much cash in Sweden the retail businesses call the police, thinking you are a terrorist or a criminal. This article predicts how Sweden's banks will act and how Swiss banks will act to negative interest rates on their storage of cash. Swedes hate cash and the Swiss love cash, so this experiment will likely reveal what attitudes really are.
I agree with everything in the article except that you don't have to be a conservative to fear the war on cash, the efforts by many to seek the elimination of cash. This is an issue everyone should be concerned about.
The author says the US dollar and Yellen raising interest rates will fix all this. One hopes he is correct but I have my doubts.
If you use too much cash in Sweden the retail businesses call the police, thinking you are a terrorist or a criminal. This article predicts how Sweden's banks will act and how Swiss banks will act to negative interest rates on their storage of cash. Swedes hate cash and the Swiss love cash, so this experiment will likely reveal what attitudes really are.
I agree with everything in the article except that you don't have to be a conservative to fear the war on cash, the efforts by many to seek the elimination of cash. This is an issue everyone should be concerned about.
The author says the US dollar and Yellen raising interest rates will fix all this. One hopes he is correct but I have my doubts.
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