Governments want money to be all electric, so that they can keep track of it and what people do with it, and so they can keep it in banks should the banking system run into trouble (they call it a bail-in). From Jeff Thomas at internationalman.com: A decade or more ago, I began to discuss […]
Strictly speaking it’s all plastic money in NZ in one form or another. But according to one current commercial promoting money on mobile phones, if you use cash you’re ‘a caveman’. However, if interest rates go negative, there’ll be a huge incentive for a cash comeback.