The War On Paper Currency Begins: ECB Votes To “Scrap” 500 Euro Bill

Please see the source for all relevant charts and “tweets”.

 

Update: in case there was any doubt about the ECB’s true intentions, we just got the official “denial”:

  • DRAGHI: ANY ECB ACTION ON EU500 NOTE IS NOT ABOUT REDUCING CASH

Translation: the ECB action is only about reducing physical cash, some 30% of it to be specific. Continue reading