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The PR push seems mainly to be coming from Citi primarily (although other banks may be involved). It's pretty clear why they'd want to push to abolish cash and
by crdoconnor 12y ago
The PR push seems mainly to be coming from Citi primarily (although other banks may be involved).
It's pretty clear why they'd want to push to abolish cash and institute negative interest rates. It would put them at the center of the economy instead of the near center. Another back-door bailout like this might help deal with their, um, insolvency.
What isn't clear is why anybody else would want it.