from Off Grid Survival:
The war on cash is heating up as J.P. Morgan Chase, the largest U.S. bank, recently introduced policies to restrict cash in certain markets. These policies include banning cash as an acceptable payment for credit cards, mortgages and auto loans. They also recently started banning the storage of cash or coins in its safe-deposit boxes.
Last month, Citigroup’s chief economist Willem Buiter called for cash to be abolished, and stated that nothing larger than a $5 should be in circulation as we move towards a cashless society.
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