Deception is spun in such a way that most people believe it is in their best interest, when in fact it is not. Ceilings on cash withdrawals are already normalized in some countries.
There’s been another shot fired in the “war on cash.” Recently, the International Monetary Fund (IMF) published a working paper offering governments suggestions on how to move toward a cashless society even in the face of strong public opposition.
Over the last several years, we’ve seen a steady push to eliminate, or at least limit, the use of cash around the world. In May of 2016, the European Central bank announced it will stop producing and issuing 500-euro notes by the end of 2018. Not long before the EU announcement, a former Obama economic adviser/ex-Treasury secretary floated the idea of eliminating the $100 bill in the US.
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