Abolishing Cash

Be running up that road
Be running up that hill
Be running up that building
--Kate Bush

Reasoned thoughts on the progression toward abolishing cash. Basically these steps:

1) Central banks set negative interest rate policy (NIRP) that penalizes bank deposits. Why? Central bankers believe that NIRPs penalize saving, thus increasing consumption.

2) Depositors withdraw cash from banks to avoid paying banks for holding their deposits. Unfortunately for the banks, this results in bank runs.

3) To stop bank runs, policymakers outlaw the use of cash--or at the vary least limit the amount that can be withdrawn (a la Cyprus).