Has The Crash of 2016 Now Begun?

[smiths]

Did someone say it was the end of the road for the banks?

I think it is quite clear from everything I've read in the last few months that the next stage is negative interest rates and the removal of all alternatives including cash

[NeonLX]

Did someone say it was the end of the road for the banks?

I think it is quite clear from everything I've read in the last few months that the next stage is negative interest rates and the removal of all alternatives including cash

...and that leaves?...

(thus asketh the village idiot)

[Joe Hillshoist]

Did someone say it was the end of the road for the banks?

I think it is quite clear from everything I've read in the last few months that the next stage is negative interest rates and the removal of all alternatives including cash

To many Australians buy drugs, sex and gamble with cash. I can't see it disappearing here soon.

How's it going smiths? Still in WA, if so I hope you're avoiding the fires.

[NeonLX]

I finally got a debit card through my credit union. I like it because there's only incidental charges if I use an ATM. Which I don't, what with retail outlets offering the opportunity to get extra cash when the card is used.

[divideandconquer]

From 1988 Economist Magazine: Get Ready For the Phoenix.

COVER: "GET READY FOR A WORLD CURRENCY"
Title of article:
Get Ready for the Phoenix
Source: Economist; 01/9/88, Vol. 306, pp 9-10

The phoenix zone would impose tight constraints on national governments. There would be no such thing, for instance, as a national monetary policy. The world phoenix supply would be fixed by a new central bank, descended perhaps from the IMF…. As the next century approaches, the natural forces that are pushing the world towards economic integration will offer governments a broad choice. They can go with the flow, or they can build barricades. Preparing the way for the phoenix will mean fewer pretended agreements on policy and more real ones…. The phoenix would probably start as a cocktail of national currencies, just as the Special Drawing Right is today. In time, though, its value against national currencies would cease to matter, because people would choose it for its convenience and the stability of its purchasing power…. Pencil in the phoenix for around 2018, and welcome it when it comes. (The Economist, January 9, 1988)