Central banks understand that everything they have done so far has failed, so they are becoming increasingly desperate. Part of this desperation has translated into a negative interest rate policy (NIRP) in various parts of the world. The only problem with aggressively implementing NIRP is that citizens can pull their money out of the banking system in response to being charged a percentage of deposits by the criminal, bailed out banks. If this happens, negative interest rates can’t “work” (not that they would boost the economy anyway).
This is obvious. The correlation between central banks launching a negative interest rate policy and global “leaders” suddenly becoming concerned about criminals using cash is no coincidence. The New York Times editorial board cannot be so financially illiterate that they don’t know this. As such, the only logical conclusion one can reach is the editorial board is intentionally attempting to lead its hapless readers off a cliff into monetary fascism.
Read the rest here.