Monday, January 25, 2016

Following Davos, Norway’s biggest bank calls for an end to the use of cash

As the annual World Economic Forum in Davos ended on Friday, the ‘Masters of the Universe’ returned home to enact some of the many topics they discussed on finance and the global economy.  And in accordance with the growing trend among the elites to ban the use of cash in the marketplace, the biggest bank in Norway on Jan. 23 raised their voice and joined in with the trend.
Norway had long been a poster child for fiscal responsibility, with nearly a trillion dollars stored away for their people from oil revenues in their North Sea production.  However, it is because of these same oil prices, and in particular their year long decline, which has led the Norwegian economy to suffer greatly and look for alternative ways to protect against capital flight.

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