They're coming for your cash

[Sebsebzen]

Citicorp’s chief economist, a technocrat named Willem Buiter, thinks the US needs much lower interest rates to push the economy out of the doldrums. He thinks negative interest rates around -6% would do the job. But there’s one condition: For his plan to work, he says, the government must abolish cash.

They're Coming For Your Cash

[dysconnect]

For all it’s worth, the aim is to encourage investment rather than hoarding. I don’t see a practical difference from inflation, except for the utter honesty in stealing money that makes one’s head hurt. Not even the worst governments would try it; there’s too much pain for too little gain.

[zoro]

they just need money to circulate over and over. but with “brute force” it is not the way to do it!
thanks god we have crypto money

[tomjoad]

Not even the worst governments would try it; there’s too much pain for too little gain.

Sweden, Denmark, and Switzerland are all experimenting with it already: http://www.telegraph.co.uk/finance/economics/11895084/How-Swedens-negative-interest-rates-experiment-has-turned-economics-on-its-head.html. It’s a radical form of monetary policy that would have been unthinkable a couple decades ago.