Most people would prefer to see cash stick around, says Merryn Somerset Webb. But most if us don’t want it badly enough.
The financial authorities have openly admitted their plan to consider a series of drastic actions that threaten your financial security and your fundamental rights as a British citizen.
Not only are they formally discussing negative interest rates – which will charge you for the privilege of holding your money, slowly stripping you of your wealth, they are talking about abolishing cash altogether. For the first time in history, totalitarian control of our wealth is technologically possible
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A lot of people worry that central banks and governments will ban cash. But they may not need to, says Merryn Somerset Webb. We might just decide to do without it.
The war on cash has never been more intense than it is now, says Matthew Lynn. But people like cash – and it’s not going anywhere.
In a bid to remove counterfeit notes and force transactions into the legal economy, India has banned 500 and 1,000 rupee notes. Let’s hope our own central bankers aren’t taking notes, says Merryn Somerset Webb.
How to invest during the monetary endgame was the theme of this year’s MoneyWeek Conference in London. John Stepek sums up the debate.
The Bank of England isn’t banning the £50 note – it’s gradually phasing it out instead.
The death of cash is bad for all sorts of reasons. But when it comes to church collections, it might not be the end of the world, says Merryn Somerset Webb.