Negative interest rates are a first step toward what economist Ludwig von Mises once described as a “crack-up boom,” a flight to hard assets. The demand for bank deposits plummets. People pull their money out of the system in large numbers by either withdrawing cash or buying “hard assets.” Yet for the former, it appears the European Central Bank (ECB) already found a solution. The ECB suggested this solution en passant, mere months after the ECB lowered interest rates to negative for the first time ever. And what this solution looks like, is certainly not a reassuring thought for middle-class savers.

Please Meet Silvio Gesell

ECB Is Destroying the System and They Know It

The Justification for a Tax on Cash

Flight to Safety

Do You Remember This Trial Balloon?


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