Feb 15

500 euro

The War On Paper Currency Begins: ECB Votes To “Scrap” 500 Euro Bill:

Update: in case there was any doubt about the ECB’s true intentions, we just got the official “denial”:

  • DRAGHI: ANY ECB ACTION ON EU500 NOTE IS NOT ABOUT REDUCING CASH

Translation: the ECB action is only about reducing physical cash, some 30% of it to be specific.

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The first shot in the global war on cash was just fired, by none other than the ECB, which moments ago Handelsblatt reported…

… and Bloomberg confirmed – ECB COUNCIL VOTES TO SCRAP EU500 NOTE: HANDELSBLATT – has voted to scrap the second highest denominated European bank note in circulation: Continue reading »

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