Mario Draghi, head of the European Central Bank, is looking at eliminating the €500 note using crime and money laundering as a reason; unfortunately it’s rather disingenuous and prudent analysts are saying that this is really just another step towards the elimination of all cash in order to have more control over people. The only way to get people to accept the madness of negative interest rates seems to be to close the exits and eliminate cash as an option to opt out of a system of central control which has terrible implications for personal freedom…..it’s important that people are aware of this as it seems that most people are being seduced by the lure of convenience and not realizing that they are slowly being squeezed …….if you want to read a bit more about the negative interest rate madness and the trends against cash check out this recent Bloomberg article
also to see the issue on more simple terms check out this one “Why are Zero Interest Rates Bad?”
cashless society marches on….Mastercard now wants to bring facial recognition software to Canada for payments via smartphones
amazing time lapse photo!