Fiat Obituaries

For a list of Bitcoin related deaths, please refer to Bitcoin Obituaries.

September 2015

UK – Telegraph

Andy Haldane argues for raising UK’s inflation target in bid to give policymakers more ‘wiggle room’ in fighting downturns – and suggests cash could need to be abolished

Traditionally policymakers have resisted cutting rates below zero because when the returns on savings fall into negative territory, it encourages people to take their savings out of the bank and hoard them in cash.

This could slow, rather than boost, the economy. It would be possible to get around the problem of hoarding by abolishing cash, Mr Haldane said, adding: “What I think is now reasonably clear is that the payment technology embodied in [digital currency] Bitcoin has real potential.”

June 2015

Zimbabwe – ZeroHedge

It’s over! Starting June 15th and ending September 30th, the Zimbabwe Central bank will begin its process of “demonetization” of the old Zimbabwe Dollar. The Zimbabwe dollar will be removed as legal tender after the currency’s use was abandoned in 2009 following a surge in inflation to 500 billion percent. For bank accounts containing up to 175 quadrillion Zimbabwe dollars they will be paid $5, the country’s central bank said.

Zimbabwe – Yahoo News

From Monday, customers who held Zimbabwean dollar accounts before March 2009 can approach their banks to convert their Zimbabwean dollar balance into dollars, Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya said in a statement.

The process will legally end the local currency. Zimbabweans have until September to turn in their old bank notes, which some people sell as souvenirs to tourists.


May 2015

Denmark – CNN Money

A plan to cut cash out of shopping could see Denmark become the first country to ditch notes and coins altogether.

The Danish government has proposed that most stores could dump their cash registers from January 2016.

Denmark – Reason

Denmark strides boldly into a cashless future. Demand for the folding stuff is falling and everybody prefers electronic transactions anyway, we’re told. So the government proposes to eliminate requirements that retail businesses accept cash—which may be a wise idea given that the Danish central bank will stop making any more of the stuff next year.


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