It gives govt the ability to record and tax everything. Swiss francs and other strong currencies will still be out there. With Swiss banks paying negative interest rates cash is not a bad option.
Exactly. It’s about control. And it’s about the appalling concept that all money belongs to the government vice the individual.
I got pretty mad when my bank send yearly interest earnings.
I will have to pay income tax on that measly ‘earned interest’.
Mad at the low interest rate, and then taxed, to boot.
Will I get a tax credit for negative interest??????
The Swiss will find themselves cut off from the rest of the world should the nations go cashless...it probably can be self sufficient to the extent that it can produce its own food but if no one accepts physical cash, what economic power can the Swiss wield?
The real issue of course is the needed debt reset...the problem is with that is that the most evil people in the world will try to be in control of it!