Banning cash so you pay the bank to hold your money is what the IMF wants – Politics – ABC News (Australian Broadcasting Corporation)

A recent IMF blog entitled “Cashing In: How to Make Negative Interest Rates Work”, explains its motive in wanting negative interest rates — a situation where instead of receiving money on deposits, depositors must pay regularly to keep their money with the bank.

“Without cash, depositors would have to pay the negative interest rate to keep their money with the bank, making consumption and investment more attractive,” it said.

But one year on from the banking royal commission, faith in our financial institutions — and the regulators who failed to police the banks’ bad behaviour — isn’t exactly at an all-time high.

TOTAL CONTROL FORCED SPENDING INCREASED DEBT

via Banning cash so you pay the bank to hold your money is what the IMF wants – Politics – ABC News (Australian Broadcasting Corporation)

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