As the central banks lose control and begin to implement NIRP they need to ban cash because NIRP is ineffective if folks take their money out of the banks and stuff it in their mattress. In addition, if cash is eliminated greedy over indebted governments can extract more from the citizenry via electronic tracking and taxing. Essentially it eliminates the black market. The powers that be have floated this idea and I have no doubt it will be implemented.
Visa has agreed to purchase Visa Europe at what looks like an expensive price but if you assume that the ECB eliminates cash in the next 2 years the purchase is a steal. Do the math and you will be stunned at the growth rate if the ECB applies the cashless policy. Currently 60-80% of all transactions in Europe are cash based. This is essentially a play on government tyranny and central bank policy failure. Every Large Cap Growth manager must own this stock and the stock is a great offset to shorts for Hedge Funds in the coming bear market. I love this stock and this theme!If you enjoy the content at iBankCoin, please follow us on Twitter