The War on Cash
Right now, countries around the world are limiting how much cash you can use to (legally) buy things.
In Spain, for example, you can’t use cash to buy something that costs more than 2,500 euros…
In Italy, the limit is 1,000 euros…
And in France, it used to be 3,000 euros… but that recently changed to 1,000 euros.
Some countries even want to ban cash altogether!
Sweden, Norway, and England have all tabled plans to do that.
The reason nations want to do this is clear: Less physical cash equals more tax revenue.
The IRS, for example, estimates it would earn an extra $450 billion in taxes if cash was outlawed.
Now, can you imagine what would happen to ether if England goes through with its plan?
Just think: England’s population is 50 times bigger than Cyprus’ population!
Negative interest rates
I’m guessing you’ve heard of this before. It’s all the rage with central bankers right now in their never-ending quest to “stimulate” the economy.
Here’s how this works…
Let’s say you’ve got $10,000 sitting in a bank.
Twenty years ago, you might have got 5–6% on that money. Today, of course, you get nothing.
But just wait until tomorrow…
You might have to pay for the privilege of keeping your money in a bank!
In fact, according to JPMorgan, interest rates could reach -4.5%. That means you’d have to pay $450 (each year) just to keep $10,000 in the bank.
Sounds like science fiction… Only it isn’t.
The European Central Bank, for example, has already set its interest rate at -0.4%.
Denmark, Switzerland, and Japan have all implemented negative rates, too. In fact, at least 23 countries have negative interest rates.
What does this all mean?
Well, when the Bank of Japan announced a negative interest rate of just -0.1% this year, sales of safes went through the roof!
The Wall Street Journal reports a $700 model completely sold out in one Tokyo store.
What happens when Japan sets its rates to -1%… -2%… or even lower?
So, it’s no wonder the Japanese are hoarding cash and buying millions of safes to store and protect their money.
And this could actually be part of the reason ether’s price has surged of late…
While in America
Now, as we’ve seen, nothing needs to happen in the U.S. for ether’s price to skyrocket.
And yet, it’s important to note we’re not immune from all the craziness going on.
Take Larry Summers, for example.
The former U.S. secretary of the Treasury has publicly stated we should ban the $100 bill.
And thanks to law R.S. 37:1866, it’s already illegal to make certain cash purchases in Louisiana!
Even Federal Reserve Board Chair Janet Yellen is on record saying negative interest rates could be “on the table” for the Fed.
As Americans, we value our freedom more than anyone else.
What do you think will happen if the next president decides to ban the $100 bill? Or if we have to start paying banks 2–3% just to keep our money there?
Ether will go through the roof.
Now, I understand if you think this all sounds crazy.
And I agree.
But let’s not forget…
Gold was actually banned here in America for 41 years, from 1934 to 1975.
They say history doesn’t repeat, but it does often rhyme.