Wednesday, May 20, 2015

Federal Reserve

Governments want to ban cash to save banks.

Banning cash will prevent bank runs, giving banks more power.

Central banks want to ban cash so they can impose negative interest rates.

France restricts cash payments.

Denmark considers banning cash.

Restrictions on cash at JPMorgan Chase and in Switzerland. 

Five big banks plead guilty, whatever that means, to manipulating currencies and interest rates, whatever that means, and will pay $5 billion collectively.

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