Europe Enters New Year With Nearly $2 Trillion In Sub-Zero Interest Debt

Tyler Durden Blog | Europe Enters New Year With Nearly $2 Trillion In Sub-Zero Interest Debt | Talkmarkets



Subzero sovereign debt could lead to even more usage of the negative interes rate. This is a major concern as it will increase calls for a cashless society, to prevent the depositor from pulling money from the bank once retail customers are forced to accept negative interest rates or withdrawel. That is when you will hear more screams from economists about the need for a cashless society.

Why we may be headed to a completely cashless society

Why we may be headed to a completely cashless society | Public Radio International

 “Andy Holder — he’s the chap that’s the chief economist at The Bank of
England — did a speech and suggested the idea of having negative
interest rates in the UK,” “He said if we did introduce
this, the problem would be that everyone in Britain would go to the cash
point — and we don’t have to pay ATM fees in this country  — withdrawal
all of their cash and keep it under the mattresses to be avoid being
charged the negative interest rates.”

Gary here: Beware of writers like Claer Barrett, who is the author of the above quote. She is editor of the Financial Times Money. She is one of many who are working toward a cashless society. Use more cash when you can to stop this sort of thing from taking over the world. 



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