https://www.theburningplatform.com/2019/04/21/this-is-their-plan-to-fuck-you/
Difficult to believe that the IMF actually *believe* what they say here, surely a ten year-old could tell you it's not possible to have infinite growth?
From the IMF Paper in this link:
'How low can you go?
In a cashless world, there would be no lower bound on interest rates. A central bank could reduce the policy rate from, say, 2 percent to minus 4 percent to counter a severe recession. The interest rate cut would transmit to bank deposits, loans, and bonds. Without cash, depositors would have to pay the negative interest rate to keep their money with the bank, making consumption and investment more attractive. This would jolt lending, boost demand, and stimulate the economy.'
Me: Re their last sentence, er, no, it won't.
'How low can you go?
In a cashless world, there would be no lower bound on interest rates. A central bank could reduce the policy rate from, say, 2 percent to minus 4 percent to counter a severe recession. The interest rate cut would transmit to bank deposits, loans, and bonds. Without cash, depositors would have to pay the negative interest rate to keep their money with the bank, making consumption and investment more attractive. This would jolt lending, boost demand, and stimulate the economy.'
Me: Re their last sentence, er, no, it won't.
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