But it's not just an academic issue — all of us are affected by the possibility of negative interest rates, prohibitions on cash, and bank bail-ins. Will you be able to get cash out of your bank or money market account if the economy suffers another crash like 2008? Will governments force us into cashless, digital-only payment systems, tracking our every purchase and creating black markets in the process? Will you have to pay your bank, in the form of negative interest rates, for the privilege of holding your money? And will your deposits take a haircut if your bank suffers losses from its bad loans?
Jeff joins Jay Taylor on his radio show to discuss how both central banks and commercial banks are poised to change your life in some very unpleasant ways.