Normally you EARN interest on savings - but imagine if interest rates go negative - then you PAY interest on savings in the bank.At the moment, you could pull your cash out of the bank to avoid paying, but not if Government makes the system cashless, then you are trapped.
It would mean you couldn't save - you'd have to spend/invest immediately or watch your savings deteriorate.Important video for all Australians!
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- Why the Government want cashless economy - to implement negative interest rates
Why the Government want cashless economy - to implement negative interest rates
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