What these unspeakably dangerous fools argued
was that cash should be abolished so that the central banks could get on with
their job of stimulating “depressed” economies by setting interest at negative
nominal rates.
In other words, it is apparently
not enough that someone who saved $150,000 over a lifetime of work and foregone
consumption should earn just $1 per day of interest on liquid savings deposits
or treasury bills.
No, the central bankers’ posse now wants to actually expropriate these savings
by extracting a monthly levy, and by throwing anyone in jail who attempts
to hide their wealth outside the controlled banking system by keeping it
in private script or unconfiscated greenbacks.
