The New Cash Hoarders

The Bible says that one day the world will have a cashless system.  As you know we have been blogging about it quite a bit as of late...since Norway and Sweden both recently called for their nations to go cashless.

Larry Somers has also recently called for America to do away with $100 bills.  When that happens why not do away with $50's and $20's too?

Are Japan and Switzerland havens for terrorists and drug lords? High-denomination bills are in high demand in both places, a trend that some politicians claim is a sign of nefarious behavior. Yet the two countries boast some of the lowest crime rates in the world. The cash hoarders are ordinary citizens responding rationally to monetary policy.

The Swiss National Bank introduced negative interest rates in December 2014. The aim was to drive money out of banks and into the economy, but that only works to the extent that savers find attractive places to spend or invest their money.

With economic growth an anemic 1%, many Swiss withdrew cash from the bank and stashed it at home or in safe-deposit boxes. High-denomination notes are naturally preferred for this purpose, so circulation of 1,000-franc notes (worth about $1,010) rose 17% last year. They now account for 60% of all bills in circulation and are worth almost as much as Serbia’s GDP.

Japan, where banks pay infinitesimally low interest on deposits, is a similar story. Demand for the highest-denomination 10,000-yen notes rose 6.2% last year, the largest jump since 2002. But 10,000-yen notes are worth only about $88, so hiding places fill up fast. That explains why Japanese went on a safe-buying spree last month after the Bank of Japan announced negative interest rates on some reserves. Stores reported that sales of safes rose as much as 250%, and shares of safe-maker Secom spiked 5.3% in one week.

Here;  http://www.wsj.com/article_email/the-new-cash-hoarders-1457049503-lMyQjAxMTE2MDA2NDYwMzQxWj

If the world falls into another Great Recession in the coming months...the Federal Reserve will have no choice but to lower interest rates into negative territory...meaning banks will start CHARGING YOU money to keep your $000's in their bank!  When that happens people will start buying safes by the thousands to stash their savings there!

Hold onto your hats and keep your Bibles open!  The world seems to be heading towards the day when every man of every tribe and tongue will be required to take some type of mark in order to buy or sell anything.

Come Lord Jesus!

Hat tip to Tim H.