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Alasdair Macleod: The trouble with cash
10:20a ET Thursday, May 14, 2015
Dear Friend of GATA and Gold:
Having resorted to zero or negative interest rates to support asset prices, central banks inadvertently are pushing people toward withdrawing cash from the banking system, GoldMoney research director Alasdair Macleod writes today. This in turn weakens the banking system and may prompt central banks to obstruct the holding of cash -- in which case, Macleod adds, an obvious alternative manifests itself: gold.
"It can only be a matter of time," Macleod concludes, "before people realize that with the cash option closing this is the only way to escape an increasingly dysfunctional financial system."
His commentary is headlined "The Trouble with Cash" and it's posted at GoldMoney here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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