Hang Onto Your Wallets: Negative Interest, the War on Cash, and the $10 Trillion Bail-in

Hang Onto Your Wallets: Negative Interest, the War on Cash, and the $10 Trillion Bail-in

Remember those old ads showing a senior couple lounging on a warm beach, captioned “Let your money work for you”? Or the scene in Mary Poppins where young Michael is being advised to put his tuppence in the bank, so that it can compound into “all manner of private enterprise,” including “bonds, chattels, dividends, shares, shipyards, amalgamations . . . .”?

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