Norway’s Biggest Bank Demands Cash Ban! ‘666’ Rapidly Approaching!

• Norway’s Biggest Bank Demands Cash Ban
  by Tyler Durden, www.zerohedge.com 
  The war on cash is escalating faster than many had imagined. Having documented the growing calls from the elites and propagandist explanations of the “benefits” to their serfs over the last few years, with China, and The IMF entering the “cashless society” call most recently,International Business Times reports that Norway –suffering from its own economic collapse as oil revenues crash – has joined its Scandi peers Denmark and Sweden in a call to “ban cash.”
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  By way of background, as we explained previously, What exactly does a “war on cash” mean?
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  It means governments are limiting the use of cash and a variety of official-mouthpiece economists are calling for the outright abolition of cash. Authorities are both restricting the amount of cash that can be withdrawn from banks, and limiting what can be purchased with cash.
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  These limits are broadly called “capital controls.”
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  Why Now? Why are governments suddenly so keen to ban physical cash?
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  The answer appears to be that the banks and government authorities are anticipating bail-ins, steeply negative interest rates and hefty fees on cash, and they want to close any opening regular depositors might have to escape these forms of officially sanctioned theft. The escape mechanism from bail-ins and fees on cash deposits is physical cash, and hence the sudden flurry of calls to eliminate cash as a relic of a bygone age — that is, an age when commoners had some way to safeguard their money from bail-ins and bankers’ control.
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  And the benefits of a cashless society to banks and governments are self-evident:
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  1. Every financial transaction can be taxed.
  2. Every financial transaction can be charged a fee.
  3. Bank runs are eliminated.
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  So, when the dust has settled who ultimately benefits by this war on cash – government and the central banks, pure and simple.
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  Which explains why Norway’s biggest bank, DNB, has called for the country to stop using cash which is just the latest move in a country that has been leading the global charge toward electronic money in recent years, with several banks already not offering cash in their branch offices and some industries seeking to cut back on paper currency.
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  read more.

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