[Editors note: The writing is on the wall as the war on cash goes global; with latest news that the ECB has voted to scrap €500 bills which amounts to 30% of all physical cash in the eurozone area.
For central and retail banks, the ability to prevent large scale capital flight when implementing negative rates will be essential to prevent/delay insolvency on leveraged balance sheets, as the bankers try to ‘kick the failed monetary policy can’ one more time.
All of these actions continue to add to the strengthening fundamentals of owning alternative money and currencies, such as precious metals and Bitcoin, that do not carry these counterparty risks.]
Check out this article from trunews.com which documents just how global the war on cash has become:
Read more here…