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For context, 100k DKK is approximately 13k EUR or 16k USD. The largest DKK banknote is 1000. This would take 100 banknotes. I'm not talking about affordability.
by rdsubhas 5y ago
For context, 100k DKK is approximately 13k EUR or 16k USD. The largest DKK banknote is 1000. This would take 100 banknotes. I'm not talking about affordability. I'm just saying - someone who already has 100k DKK in their bank account could convert it to 100 notes.
Realistically speaking – will this policy spur spending, or will people go back to just hoarding cash?
- rijoja 5y agoHoarding cash would be bad since it would loose value due to inflation.
- madsbuch 5y agoWhat? Evidently it looses more value being deposited in the account.
- rijoja 5y agoFirst of all having a negative interest rate is exceptional and this is not true for most of the banks in most of the world. Also there are of course more ways to use cash than to spend it, save it in banks or save it in cash. You could for instance hoard gold or invest in stock instead.