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Cash Loses Another Battle
by James Rickards Daily Reckoning
When I talk about the war on cash and a cashless society, some people think I’m exaggerating the threat or they don’t take it seriously.
But I’m not exaggerating the threat. It’s here, it’s growing and it’ll only get worse. Just look at a nation like Australia, a Western-style democracy similar in many ways to the U.S.
It provides a cautionary tale to Americans about where the war on cash is heading.
A few months ago, one of Australia’s four major banks announced that it was limiting cash withdrawals and deposits at several of its branches.