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The War On Cash Is Happening Faster Than We Could Have Imagined

Submitted by Simon Black via SovereignMan.com,

It’s happening faster than we could have ever imagined.

Every time we turn around, it seems, there’s another major assault in the War on Cash.

India is the most notable recent example– the embarrassing debacle a few weeks ago in which the government, overnight, “demonetized” its two largest denominations of cash, leaving an entire nation in chaos.

But there have been so many smaller examples.

Steven Mnuchin Roils Bond Markets With Suggestion Of 100 Year Treasury Bond

Steven Mnuchin Roils Bond Markets With Suggestion Of 100 Year Treasury Bond

Barely having confirmed he will be Donald Trump's nominee for Treasury Secretary, Steven Mnuchin proceeded to roil the bond market when the former Goldman banker told CNBC he would look at extending the maturity of future Treasury issuance, hinting at 50 and 100 Year bonds, which promptly sent long-term US bond yields surging by the most since the turmoil following Trump’s election victory.

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