What lies behind the interest rate?
You’re used to using money all the time. You receive it for things you do and you give it for things you need. But have you ever asked yourself what role interest rates play in your money? You might think that interest rates are only relevant when a business or an individual takes out a loan. Well, this is only part of the story. The other half of the story is something we rarely think about, but it’s something just as important. What if I told you that interest rates have a powerful effect on human behavior; that they specifically produce and reinforce an emotional system of selfishness and a physical system of scarcity? And what if I told you that the type of money you use affects your perception of time and the value of things relative to their place in the future. If you want to understand how this happens exactly, take a look at our other short videos online on polymoney.city or wait for more post here on steemit.
I'd say it reinforces a culture of centralised banking and ideological government intervention in financial markets. That'll be particularly apparent if we move into negative rates and a cashless economy.
A cashless economy inside the fiat system scares the hell out of me. You completely lose an important check on an unsound financial institution, the bank run.
a cashless society can only be promoted and supported by people who haven't understood the mechanism of our current prevailing monetary system and especially the functioning and role of taxes.....an own goal.