War on Cash

The deception with tact
Just what are you trying to say
You've got a blank face, which irritates
Communicate, pull out your party piece
--The Fixx

Central banks have been implementing negative interest rate policies (NIRP) that effectively penalizes cash on deposit with the CBs. Intellectuals are proposing that cash be banned altogether.

J.P. Morgan (JPM) is joining the fray with policies that ban cash from being used for some financial transactions. The bank is also prohibiting storage of cash in safe deposit boxes.

Some might view JPM's program as their prerogative that will be rewarded or punished by the market. But big banks are joined at the hip to the State.

When States wage war on cash, banks are instruments of aggression.