The decline of the cash empire
The last line of defence between us and punitive negative rates is paper currency
It is indisputable that civilisation is not possible without money, and vice versa. The meaning of money has long preoccupied rulers and their taxmen, buyers and sellers, entrepreneurs and their labourers, economists and philosophers, writers and stand-up comedians, revolutionaries and ordinary folks alike. It is universally accepted that money is a store of value, a means of payment in general and taxes in particular, a unit of account, and, more broadly, a link between the past and the future
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