by Nick Giambruno
Casey Research
Four-and-a-half years ago, I noticed something extraordinary about the global elite’s annual meeting in Davos – a conference attended by CEOs of the largest companies, leaders in the mainstream media, and top academics.
There was an enormous acceleration to eliminate paper cash.
The CEO of Deutsche Bank was calling for the elimination of cash. Norway’s biggest bank did the same thing.
Bloomberg published a piece called “Bring on the Cashless Future.” The Financial Times published something remarkably similar. Then, Harvard put out a paper talking about the need to eliminate high-value paper currencies, like the $100 bill and the €500 note.