As soon as cash has been pushed back or stripped away entirely, monetary policymakers can implement an uninhibited negative interest rate policy to devalue debt. Customers can no longer get out of the “bank balance sheet”; the final escape door is then locked.
Original article: mises.org/wire/dangers-lurking-behind-digital-euro; 02/26/2021.
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.
