Monday, February 22, 2016

Japanese Buying Safes To Hold Cash #NIRP

Hoarding, the storage of money buried in can or clay pots buried underground or surging sales of home safes, is a classic indication of failing confidence in central planning and government. Holding cash that pays zero interest, the reason why time table for the implementation of electronic money is being accelerated, is better than paying banks to hold it. European leaders certainly understand the implications of this trend.

Headline: Japanese Seeking a Place to Stash Cash Start Snapping Up Safes

TOKYO—Look no further than Japan’s hardware stores for a worrying new sign that consumers are hoarding cash--the opposite of what the Bank of Japan had hoped when it recently introduced negative interest rates.



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