TMR n "Cashing In: How to Make Negative Interest Rates Work", IMF Blog (05 February 2019)

Just in case (after TMR's recent interview with Patrick M. Wood) anyone should be in doubt that the international banking world is desperate to get rid of cash, here's a revealing piece from early last year in the IMF Blog (of the International Monetary Fund, no less).

In efforts to prop up our dysfunctional economies, and given the difficulty of erasing cash altogether, they suggest dividing currency into two parts. One part would be digital and the other ol'-fashioned cash. Then they could manipulate us into spending instead of saving by charging negative interest rates on our savings and pegging the exchange rate between the two forms of currency to the negative interest rates on savings.

Thus, we would be socially-engineered to rush out and spend before we lost too much value on our savings, or too much in inflated cash prices at the till.

So, in the course of this pandemic, if they can persuade us to let go of our cash more easily, do you doubt they'll do everything they can to make it so?

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