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Join date : 2017-11-09
Location : Just north of bristol city in the uk
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No Cash anymore

on Tue Apr 17, 2018 6:46 am
http://southernstarred.com/uncategorized/swedish-economic-experiment-has-people-looking-to-cash-alternatives/?utm_source=taboola&utm_medium=referral

What would you guys feel about such a system being introduced in to your country?

Imagine a snare of negative interest rates being used by your favourite trusted bank, thus forcing you to spend your savings so you don't lose them by being devalued by the banks that traditionally where supposed to protect your savings.

So common tell us what you think about this injustice

If banks charge customers negative rates of interest in a cashless society, those customers are not able to withdraw their money as cash to shield it, under their putative mattresses. Consumers’ only choice in such a scenario is to spend it or let the bank take it. (The theory is that by forcing people to spend cash rather than save it, you can spur economic growth.) wrote:

I am sure happy that I don't live in Switzerland and if I did I would migrate and pull all my assets out immediately, I feel this is an affront and goes against the spirit of freedom and democracy a person can no longer have the freedom to choose to either spend or save their hard earned cash anymore Very Happy


Last edited by Leia on Wed Apr 18, 2018 6:45 am; edited 1 time in total
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Age : 23
Location : St. Petersburg, Russia
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Re: No Cash anymore

on Tue Apr 17, 2018 11:01 am
First thing is that the negative rate that is spoken of in the article is nominal negative rate imposed by central bank on commercial banks and that is the tool of a monetary policy that does not affect banks clients so much, so we're not speaking about evil banks that we have to pay if we lend them money when we deposit our cash into debit accounts.
Second thing - we are already living in a half cashless society. Even in russia they accept bank cards even in the buses by using NFC readers.
And third - *spend more* is keynsian theory/policy that can't be implemented all over the world. That is the US policy right now, and in order for it to work you have to get LENDERS to this kind of economy, the biggest lender to the US is China and they work together just fine. I'll go deeper in here and explain why it should be like this after work if you so desire.
But the whole idea of not having cash is rly cool, isnt it? The best thing about it is transparency, opposite of which enables all sort of corruption.
This is sad news for afro-american rappers who like cash in their videoclips, but hey, they can fiddle with golden bank cards around in there.
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Posts : 78
Join date : 2017-11-09
Location : Just north of bristol city in the uk
View user profilehttp://www.destructiveforce.gamingdeluxe.net/

Re: No Cash anymore

on Wed Apr 18, 2018 6:39 am
I know, Party pooper, you forget the wind up period before posting this party pooping explanation Very Happy
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Re: No Cash anymore

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