The War on Cash rages. Germany’s Social Democrats have proposed a ban on using cash for transactions of €5,000 or more. In addition, they want to forbid the use of the €500 note, a note that only a drug dealer or a human trafficker would have any use for. Or a terrorist, or some other criminal.
What more is there to say on this?
Tomorrow I’ll send you a link to an interview I did on camera with Tim Price yesterday. With negative interest rates in Japan and the editorial board at Bloomberg calling for the end of “dirty, dangerous, unwieldy and expensive cash”, you can see where all this is going.
Tim answered a few questions about gold. And, surprisingly to some around the office, he made the case for Japanese stocks. The Bank of Japan is determined to boost corporate earnings through yen depreciation. Tim doesn’t see how it can’t help Japanese stocks. He’s written about that in full in the latest issue of The Price Report.
Category: Central Banks