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Meanwhile, In Sweden, Banks Are Refusing To Open Savings Accounts
Early in July, Sweden’s Riksbank proved its dedication to the post-crisis central bank mantra of “if it’s broken, break it some more” when, after becoming the first country to witness observable, indisputable evidence of QE’s failure, the central bank pushed rates further into negative territory and expanded QE.
The problem for Sweden, as we documented in “For The First Time Ever, QE Has Officially Failed”, is that QE had soaked up so much of the available high quality collateral that bond yields and the krona were moving in the wrong direction (i.e. higher) meaning that more QE would only exacerbate the situation, leading to still higher yields and a stronger currency. Incidentally, to avoid distorting the market even further, Morgan Stanley thinks the Riksbank may have to resort to mortgage bonds in the not-so-distant future.
Of course as we’ve seen, things can always get NIRP-er-er in the new paranormal which is why the market is pricing in a 50% chance of more easing from the Riksbank at tomorrow’s meeting.
The problem is that if you go NIRP and still are not able to achieve the kind of economic outcomes you were looking for by essentially forcing depositors to choose between a tax on their savings and pulling money out and spending it, well then the next logical thing to do is to stop accepting deposits, which is apparently what it’s come to in Sweden. Here’s more from Radio Sweeden:
Richard Landén from Helsingborg, southwest Sweden, tried to open a simple savings account at Swedbank. But the bank wanted him to move over his entire account, including his monthly salary deposits and any savings he had.
"You have to be an complete customer, they said. It's either that or nothing at all, apparently," Landén told Swedish Radio News.
Swedbank declined to comment on the case.
Sweden's central bank has cut its key interest rate, the repo rate, to -0.35 percent, meaning making a profit on savings alone has become nearly impossible. The central bank will announce its next interest rate decision on Thursday.
Exactly how many people have been denied opening a savings account is hard to say. But savings advisor Claes Hemberg at Avanza Bank thinks it's a new trend. Several customers have been in touch with him about it
"Yes, savers get in touch and ask: 'Can the bank refuse me?'" he said.
"I think it's pretty bad style. At the same time, I have been a customer there before five years ago and has been very well treated. In this case, it was quite the contrary. It was a strange attitude from the beginning, I think," says Landen.
According to Swedish law, barring any extenuating circumstances like suspected money laundering or large debts, banks are not allowed to deny anyone from opening an account.
But deny they apparently will, because "simple" (i.e. probably small) savings accounts are nothing but a cost center, money-losing hassle and because anyone looking to open such an account isn't likely to be an individual with vast economic resources (i.e. is likely to be middle income at best), and because those types of people have a far higher propensity to spend what's in their pocket (see chart below) shutting them out kills two birds with one humiliating denial stone by alleviating the bank of the aggravation of servicing their accounts and by refusing to allow people to save, thereby effectively forcing the issue in terms of M2 velocity.
So in other words Mr. Landén from Helsingborg, either give the bank enough of your business to matter or else go do your patriotic duty and spend whatever you had planned to save. The Riksbank will thank you for it.
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Get a key pair, it's free.
Why would one pay to give someone else their money for "saving"?
Just buy more Skäägens and Goothbaghëns. Consuming will set you free!
Fawke Sweden... when we think of real white people we think of Greeks and Italians!
This is crazy, next they will be wanting to ban money that is not paid into accounts...oh wait...!
Paging Marx-Leninsson, paging Marx-Leninsson, please come to a red socialism works courtesy phone.
Is there a better way to read the ZH comments? No matter what I do, the replies keep drifting off to the right of my screen, eventually ending up as one-word-paragraphs that are 10 pages long. Very frustrating, and it makes me abandon reading any further comments because my eyes can't handle that. What am I doing wrong?
You can change it to just list every post however it makes it hard to see which post is a reply to which.
"QE had soaked up so much of the available high quality collateral"
my team and I have come up with a solution to that.
credit expansion, meet low quality collateral.
hugs,
misteryellens
I assume it's illegal to buy gold in Sweden?
It's not illegal if the law is unjust.
https://en.wikipedia.org/wiki/Jury_nullification
Good luck proving it to a jury of sheeps though
Even good-er luck proving it to a jury of Svenska sheeps.
Meanwhile, why would we save? The state will take care of us if anything goes wrong.
Meanwhile in Finland...
https://images.encyclopediadramatica.se/1/1b/Meanwhile_in_Finland.jpg
Nobody gives a shiite...
https://images.encyclopediadramatica.se/9/92/1279207493001.jpg
A bakery in Colorado has been ruled a “public accommodation” and therefore must bake wedding cakes for
homo’s or shut its doors.
So a bank in liberal, soon to be muslim Sweden is more discriminatory and less of a public accommodation than a bakery?
I think that bank should award itself the next “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel” for dynamiting one of the key concepts of a bank.
Thanks for mentioning the "Riksbank Prize" for economic planning.
Everyone should use this exact term, and omit any referenct to the dyn-o-mite guy.
Hey Tyler, can we ban the fucking downvote fairy please?
Ah well there are no jurys here in Sweden, except in cases regarding freedom of the press (!).
No, it´s perfectly legal, and exempted from taxes unlike silver and other precious metals. So far. However, people here are absolutely clueless about gold - about everything financial actually. They have no idea about golds´worth. One common misconception is that "safron is more expensive than gold" - yes people chuckle about this "fact" when they are lining up to buy safron for their lucia-buns. Absolute premium safron is perhaps 1/5 of the price of gold here in the land of the free (Sweden), but I digress ...
That's probably better. Most replies - at least for the first set of comments (like the ones directly above this one) - are not true replies - just people trying to stay on the first page. Seems very antiquated.
It's just a game of leapfrog, like the play in Greece.
;)
It gets easier as time goes on. You just gotta learn to relax.
pods
Sometimes we need confirmation we aren't alone in our thinking. If that means trickery to stay on the first page of ZH just to see some green arrows so we don't feel alone in this world of sheep, so be it.
You can also try adjusting the view size on your browser.
Or getting a computer that supports higher resolutions than EGA.
I'll make sure I upgrade my current 70" 4k LG to an 8K as soon as it comes out. Jackass.
On Chrome -> Right Click -> "Inspect Element" -> Go to the Console tab:
Paste in this little incantation onto the console:
(".indented").css("margin-left", "10px")
Engage (hit "Enter").
ps. You can reduce that from 10px to 5px, to 1px or whatever.
ZH has it at "25px" by default, so 10px should give you better than 2x improvement.
What are you doing wrong?
<--- nothing
<--- paying attention to the comments instead of the ads.
You're using an iOS device. Something with this comment area does not format correctly with tablets.
No, I'm on a PC, running chrome, on a 70" 4k television. The comments are fine until about the 30th or so reply (after reply)... at that point the comments are nearly vertical, taking up only about 5% of the screen. Everything else to the left is white space. No ads. Using ABP.
Turn your television on it's side so it is no longer landscape but rather portrait (counter clockwise 90 degrees). It should be easier to read left to right now. How's that?
It's great! But the sentences are now running vertically, for some reason.
Duh, turn your head.
Must I do everything?
You have to turn your head topwise in order to view the screen on its side...
You need to always post as a reply to another comment or you will wind up on page 2 or (gasp) page 3. Your comments are so important that they must be on page one....and every poster knows this. Those who just post as a new comment are obvioulsly not bright enough to have anything important to say.
It would be nice if ZH cut the ads that stop my brilliant post dead in their tracks until I dismiss them....and no ZH I do not want to receive ZH by email....as I have told you about 750 times.
I don't have the ad issue. ABP seems to do a very good job. It would be nice if ZH invested some time/technology into the comments. I mean, what other web pages have you manually log back in (and click through about 10 steps) to see if you have a reply? Just seems very dated.
You can adjust how many comments are displayed per page. Just up it to like 150 comments or more.
Get a screen resolution for the 21st century.
1080 x 1920 doesnt have those issues.
Running on a 70" 4k resolution, next?
Select a resolution higher than 640x480?
Have you tried turning it off, and then on again?
.
Y
o
u
m
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a
n
l
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k
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t
h
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Very
close.
It
hasn't
gotten
so
bad
that
actual
words
are
split,
but
definitely
to
the
point
of
one
word
per
line.
Glad
I'm not the only one...
copy to word and then make a pdf.
That's funny. I'm hard-up for ZH comments, but, not that hard up :)
Hire someone to transcribe them for you then sow them into a decorative Wall Scroll...for posterity :)
This is a funny thread. I usually do all my reading on the can. At work when i'm pinching one off i usually sneak out my Zerohedge App on my Iphone and scroll away. Sometimes the boss will send spies into the crapper to see what i'm up to. I let out a few grunts to let them know things are moving along.
Please promote to page one.
Click on your Chrome settings button(upper right hand, next to search bar) and zoom down to 25%-50%. You can also enlarge fonts in settings, too. Took me a while, too.
When the replies get down to 1 inch wide I just skip ahead until it's normal again.
ultimately, that's what I do. But I'm sure I'm missing some nuggets buried in those sub-1" dialogs. Oh well...
E
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We are in crazy town globally.
Sweden is just prepping for the hords of Syrians and Afrikans that are making their way through Europe for the promised land.
Because of a MASSIVE advertising campaign in the 1970's which showed the proles how much safer it was to have their money paid straight into the bank??
Because of a MASSIVE advertising campaign in the 1970's which showed the proles how much safer it was to have their money paid straight into the bank??
Because converting your fiat into gold and silver for storage long term is the definition of financial terrorism.
I wonder if the dumbass considered buying PMs instead of putting his fiat paper/digits in an institution that has been breaking it off in his ass?
not even a gratuitous photo of the swedish bikini team....america is really going down the shitter
Was in Helsingborg one day this summer. Looked all over for a place that served Swedish food. None were found. Thought that is a crap idea. Left.
Fruit soup @ Annie Sathers in Chicago..was good the last I checked....but that was 30 years ago.
We don't get much call for lutefisk here in Vegas.
What is supposed to be Swedisch food? Nothern Europe doesn't have a decent kitchen.
Indeed.
I have a long-held belief that the British formed their Empire only as a by-product of their global search for a decent meal...
So true. Just about anything is better than what one finds up North - Holland is the worst on Continent though, Britain is in a class all its own.
Try a nice helping of ale-bread and pickled herring. Exquisite!
"Looked all over for a place that served Swedish food"
Can't be much different than Norweigian food.
Go to Epcot in Disneyworld (City of Orlando, Florida in the United States), they have a delightful Norweigian restaurant.
Just go to any IKEA and get Swedish meatballs. Seriously, they have them. Even a Minnesotan knows this.
http://www.ikea.com/us/en/catalog/categories/departments/food/
Well there's your problem. You were looking for Swedish Food. There, they just call it "Food." So you walked past a whole bunch of it probably.
Our newest employee just ask to open a bank account here in the UK and was told to come back in 3 weeks. So much for the bullshit cashless economy! problem is that we are happy to pay cash but silly employee wants bank funds for their silly Iphone lifestyle. Prisoners.
Maybe he should have offered them a small appliance of some sort...
Time to move your account to Mattress National Bank......
Best thing that could happen. Keep your cash - no risk of bail-in or better yet stack some PMs. Who the hell needs a ZIRP savings account.
.....until federal reserve "notes" are deemed null and void.
We do need someone with experience in the Russian re-Ruble situation to 'splain that.
Thanks,
- Ned
Any U.S. military vet can tell you that prior to 1973 Military payment certificates (script) were used in host countries. To prevent excessive black market activity, the authorities used to have "C days". Otherwise known as conversion days. The military bases would be closed down and you only had 24 hours to turn in your old script for newly litho'd script. All contact with the locals was restricted to prevent illegal holders of the notes from redeeming them. Thereby, making the old script totally worthless within a 24 period.
really? I never heard about that ;-)
For the PM, it might be profitable to start a side business operating a blindfolded, one-way package transportation by boat.
Then shortly thereafter, start another side business of one-way package recovery services for those in need. ;)
That's what civil forfeiture laws are for. If they get a whiff of your sweet money pot they will find a reason to 'raid' your home. Then confiscate your savings. We are talking thugs and thieves here. Real law is out the proverbial window.
Land of the Free.....
>>>If they get a whiff of your sweet money pot they will find a reason to 'raid' your home.
Fortunately, it's very difficult for the NSA to determe which "citizens" have an enthusiasm for PMs.
Phew!!! Dodged that bullet!
"Fortunately, it's very difficult for the NSA to determe which "citizens" have an enthusiasm for PMs"
Providing that:
1 - you pay in cash (not a credit card, bank wire, check)
2 - you pick up in person (shipping/insurance records)
3 - you provide a false name, if queried for "their records" (i.e. 1099M)
4 - you change a facial feature (grow beard, shave eyebrows) to avoid facial recognition on "security cameras".
Other than that, you're mostly right!
Have you ever looked around when you visit you LCS with your cash reserves? There are cameras everywhere - for your "safety". I always wear a hat and an eye patch. Also, find a very tight knee brace and switch sides whenever you visit so that the "gait analyzers" are thrown off.
Raid away, I'm smart enough not to have it near me......
Only the insane want a savings account that has NIRP. Perhaps, they will offer Prozac when you propose to open a savings account.
Besides, you can always invest in the rigged casino called the stock market.
The Central Banksters demonstrating who is your boss.
No accounts = end of bank.
"No accounts = end of bank. "
WRONG!
A 'Bank' can exist entierly on the funds from Bond or Equity sales and/or 'Partner Investments', consulting fees, repo or rehypothecation or other 'market making', financialization activities such as buying and selling Treasuries or purchasing and securitizing Debt/ABS/MBS, etc, etc...
Goldman Sachs is one example of a 'Bank Holding Company' with NO branches or accounts.
They would no longer be a bank....
Bank in name only.
"Bank Looting Company" you say?
"Goldman Sachs is one example of a 'Bank Holding Company' with NO branches or accounts."
Are you sure about that? I thought that back in the "dark days" post-Lehman they bought out a small commercial bank with only one branch office in order to be able to dip into the TALF window.
To me, it is simple barring stupid socialist laws (the only kind there are). You charge for the savings account. If it is over a certain amount then it is free or minimum balance, etc., etc. It was that way not so long ago in the USA.
Banks provide a service. They used to store cash and valuables. Now they mostly store computer bytes but you can charge for it.
You don't understand. It's really simple.
Because the banks only charge NIRP back to large customers/corps. They pay a zero/minimal rate to small individual accounts and eat the cost. So if you only have a savings account, they lose money on you. They are demanding your entire banking business so it evens out.
Correct!
Moving over your entire banking business to a new bank in Sweden means bringing them your pile of debt. Over 30% of the population in Sweden has big loans (over 100 000 EUR) and the overall indebtedness rate is about 180% of disposable income.
Hey, it's patriotic to be in debt.
We all know how unpatriotic it is to pay no tax. So the more tax you pay, the more patriotic you must be. The more tax you pay, the more you need to borrow to maintain luxuries like shoes and rice. Ergo, debt = national selflove.
Debt slavery is freedom!
Even for the immigrant Dindu Nuffins? Rayciss
Where in Sweden can you get Dindu muffins?
At the Dindu muffin store. I would think?
Mooooo said the milk cow. Mooooo!
Wait, what? Banks don't want more liabilities?
And down the rabbit hole we go!
Regards,
Cooter
Just look at that nordic socialist model go!
"Just look at that nordic socialist model go!"
Just look at that nordic socialist model get kneecapped by international banksters. Fixed it for you.
I only clicked on the article to see the Nordic socialist model pictured on cover.
Why is it that every time there is a story about some outrage being perpetrated against the general public, there's a banker right smack in the middle of it? I swear, it's like they're just intrinsically, Satanically evil, and there's nothing they can do that isn't horrible, toxic, degrading, and destructive. Then again, as the guardians at the gate of the Temple of Mammon, I guess it's just their job description...
Because when you run a global ponzi scheme there is ALWAYS going to come a time when a banker is simply going to say: We're taking all of it. It's gone.
Love of money = Root of all evil
"Gold makes the world go 'round."
"I thought love makes the world go 'round."
"Love of gold."
Swedbank needs to sweeten the pot with some Spider-Man towels. No one can resist that kind of incentive.
All groupies must bow down
In the sacred presence of the latex solar beef
it behooves them to do so
Coming soon to an American bank near you.
They want to use your slavery paycheck to bet on the derivatives market without fiduciary responsibility. Even a checking account is under exposure.
Once you hand over money to a bank, the bank becomes the creditor. You just gave them a unsecured loan to create money out of thin air.
FDIC is broke, don't count on receiving the full amount guaranteed.
Actually, the bank becomes the debtor. (Which is why they don't want small accounts - more liability, when they can't afford the liabilities they already have, without enough gambling money to make it worth it.) You become their creditor, first in line to be stiffed at their next 'bail-in' party.
Other than that, bang on. And yes, they do want more gambling money, hence the 'incentives' (of a small amount of extra interest, which will still be negligible) for opening very large accounts of $10K or more.
Yep...
https://www.youtube.com/watch?v=iFDe5kUUyT0
Bankers now hate cash b/c they unlimited free cash from their CBs. No need to depostors any more. Storing cash in your home will be considered terrist soon. They demand you spend every cent on shit you don't need so they can generate more profits.
<<Storing cash in your home will be considered terrist soon.>>
Of this I have no doubt, if these same criminal banksters remain in power for much longer.
Look what happened to this poor guy in his motor home:
http://www.reviewjournal.com/news/nevada/feds-will-fight-keep-167000-tak...
They'll use nanny-state contraband laws as their excuse to get in.
(Keep voting, sheeple. Oh, and keep supporting your contraband police and all their nanny-state laws! If it's bad for you, then BAN it, so the filth have legal cover to invade your premises on a hunt for it.)
I understand the worry about NWO and Agenda21 and various supranationals, but at this point I'm almost ready to support just about anyone who topples these criminal banksters from power even if it turns out to be the UN.
Which is not a good place to be...
http://www.bizjournals.com/houston/news/news-wire/2015/09/02/banks-repor...
"I'd like to open a savings account"
"Oh, you must be looking for a bank, sir. This is a slave camp"
"We only take donations at this bank."
Please put your donation in a white envelope and leave it on the table
I must be on Hillarys server, double post.
swedistan signed its suicide by entering the eu you better not play with your childrens lifes
can you remember? 20 years back it was called a peaceful paradise. after entering the eu it bacame an ugly golem
The banks have been given too much free money from the central banks and so they do not need money from savers.
The banks are failing to be banks.
What are they now?
Maybe someone should start a real bank.
I think they're loan sharks. Or financial terrorists. Or gambling junkies. Heroin addicts, maybe?
Certainly arrogant, greedy, conniving, deceitful, dubious, and in need of a good spanking. Dear bankers, may you all lose your jobs and go out of business. Same for the "healthcare" industry, may you all lose your jobs and go out of business, too. I refuse to be your money mule.
<<Maybe someone should start a real bank.>>
Illegal, unless you get cartel -- parm me, regulatory -- approval. And in that case, well, you see the problem here.
http://www.offshorecompany.com/banking/start-a-bank/your-own
<<In all cases:
In the case of a Chartered Financial Institution in the United States, starting your own bank takes careful attention to the application process and it’s expensive. Start up costs alone could be as much as $1 million. You will need a group of experienced bankers that pass an FBI background check and finally pull together about $10 to $20 million in capital to get your bank underway. The banking industry is regulated heavily by federal and state charter. New charter applications are screened and have to pass a rigorous government scrutinizing. Banking regulators will take an application, every senior officer and the business plan through a strict review in order to detect problems early. Most ill prepared applicants are turned down quickly. Everyone knows that banking is a lucrative and safe investment, security is built into the equation by the industry being so regulated, your investment is watched over for you.>>
http://www.federalreserve.gov/faqs/banking_12779.htm
<<Starting a bank involves a long organization process that could take a year or more, and permission from at least two regulatory authorities. Extensive information about the organizer(s), the business plan, senior management team, finances, capital adequacy, risk management infrastructure, and other relevant factors must be provided to the appropriate authorities. The proposed bank must first receive approval for a federal or state charter. The Office of the Comptroller of the Currency (OCC) has exclusive authority to issue a federal or "national bank" charter, while any state (and the District of Columbia, Guam, Puerto Rico, and the Virgin Islands) may issue a state charter.>>
Credit Unions are performing the previous role of Banks.
Of course the Banks have lobbyists working for them to keep all the advantages and boondoggles for only themselves.
Any bank with facilities in more than three states should be broken up.
Banks should be forced to form networks which can be regulated via their interbank transactions if they want to act internationally like a large bank.
Banks have proven to be terrorist orgn and should be broken up for national security.
Bankers think putting savers' money into economy will save the day.
Bankers think they should take every last coin from savers and non savers alike.
I deal only with a small locally owned bank, one that his been in town since 1880, and avoided being bought up by the Money Center Banks. It has joined with other smaller banks to form a regional system, but still is basically the same small bank, but with larger connections. I once dealt with the bigger banks in a nearby city, because they could do international banking for me connected to a Swedish bank. I needed that service, that the local could not do. I hated those cunts! They indeed demanded all my accounts go to them, or they would refuse to provide the internatioanl connection to European SWIFT, and I had to have that. So they fucked me, until I got around them by having a friend do a shadow account for me in Sweden, and I used him as my proxy. I then told the major bank account executive to go Fuck Herself! I told her she was a rip off ass hole and her bank sucked! In so many words at least!
Since then I use Bitcoin for those in Europe who accept it, no money transfers, no SWIFT, No bank fees, No Western Union etc. Doing international small business is a fucking nightmare if you live in the USA!
scroll down ..you might like this better than bitcoin
https://www.bitgold.com/features
Right about the time that banks start to disappear deposits or refuse to perform their intended functions the inevitable question arises.. what do we really need banks for?
People say that you need them to create a medium of exchange and finance industry which leads to job creation. Well that's not working out too well, all they do is finance too big to fail bohemoths and ponzis that monopolize and jeopardize the entire system. The reserve banks are a cancer. Maybe we don't need large industry maybe what we need are small and midsize manufacturing, farming etc. History seems to indicate that credit expansion is a weapon, if banks didn't exist how bad would things really be in the context of what is already coming? Cheap prices, less war, no Apple? Maybe we should just go back to gold or seashells.
Not even one single pic of a hot Swede in this article. What is this, news?
The new Swedish hottie now wears a burka
Here, jack off on this...
http://www.bornrich.com/bjorn-borg.html
man, that's not funny
You need a trip to Saudi Arabia for hot Swedes...
They need MOAR immigration because 'diversity is strength'!
they should rename "savings accounts" to "liability accounts"
slaves begging to be flogged
Dr. Strangelove never seems to hit the ground. FUCK YOU ANTI-GRAVITY
Not one pic of a hot Swede chick or a funny orange spray tan; I am disappoint.
I travelled through Sweden in 1982. Had a great time. There were actual Swdes living there.
Went back in 2014 and they had mostly vanished *poof* like they'd gone extinct in one generation.
In 20 or 30 years Sweden and the rest of Europe will be one giant UN refugee camp.
Good place for one. Better than here.
//s//
NIMBY
A better place would be Turkey, Jordan, SA, UAE, Oman, all of Africa... someplace close, preferably South of Syria, and more like home.
At one point in time, banks did something useful, and provided a service. There was a reason to have them, and to keep money in there.
Now? Fuck em. I'll keep a checking account for things that I can't pay cash for, but otherwise, I may as well open up a gambling account with the nearest stock broker. You see, I can get a guaranteed negative rate of return with a bank.... OR, I can buy a stock, collect a dividend, and maybe it goes up in value or down in value, but at least it collects a dividend.
The bank? Hell, they just fuck me in the ass and use me as fee donkey. Hey, TD Bank, I'm not your bitch anymore. Suck it.
Dang. The poor guy is missing out on .01% interest. He'd be better off burying his savings in a high end coffee can. The can may someday have some value as a collectable. Assuming cans and digging are legal in Sweden.
While it is an interesting fact in itself, thinking about the future consequences of widespread adoption of such practice offers up some disturbing ideas.
Assume that every bank worldwide goes to an all-or-nothing system for customers...
This means that it becomes impossible to insure all of your money against loss by spreading it out to accounts at different banks.
Sure, your deposit is insured up to X but you can't have any other deposits elsewhere and will take the purple shaft with pineapple clusters for anything over X when making good on that deposit insurance becomes necessary.
Clever scheme for a backdoor bail-in where you don't even get useless shares in a zombie bank.
<<This means that it becomes impossible to insure all of your money against loss by spreading it out to accounts at different banks.>>
And I'll bet this is the real motivation. IOW, expect to see this from most big banks, especially those with insured deposits.
Public bank.
With branches at all US PS offices. [kill the PO and you kill this possibility too ... that's not a bug, itsa feature]
https://en.wikipedia.org/wiki/Public_bank
Looks more like a win for the poor. They save more on interest by paying down their debts. And there's no risk of losing their savings from a banking collapse.
why would you pay down debt debt is free at 0%
Credit cards and auto loans too?
Bill Gross, Hoard Cash!
Sweden, Not in our Banks!
Here in the good ol' US of A, I was denied the right to pay for health services by cash. Yes, legal tender was not accepted by the Obamacare establishment. They will only accept payment via the banking system.
What happened to legal tender laws? Oh, that's right, I forgot. Laws only apply when king obola says they apply.