Loading ...is the Credit Card business..How long is it going to be before the bottom drops out of the credit Card business when the consumer cant pay their DEBTS ! Raising Rates on consumers wont work ,it just makes it worse and the end comes sooner! When Apple makes its telephone an electronic credit Card ..they will go down with the rest of the Credit Card businesses ..CASH will be KING ….NOT CREDIT ….Apples TIM COOK is wrong about the FUTURE of CASH ! In one respect CASH is like GOLD …its NOT someones else liability !
In a World of Negative interest rates WHO wants to be a LENDER ? APPLE ????WHY ? ITS a DEATH NOLL for LENDERS ! If the FED CANT RAISE RATES who wants to be a LENDER …..ITS OVER !
In the Depression CREDIT was destroyed ,then CASH became KING ,then the Banks hated CASH because THEY didnt make anything on CASH ,so they destroyed it and shrunk the MONEY supply ,then GOLD became KING …and it was the Revalue of GOLD that made cash come back when the Price was raised ,then credit came back !
Please tel TIM COOK that CASH will not disappear,it will be revalued ! its supply will diminish ! He can skip stage two and go directly to GOLD if wants to revalue his telephone ,make it GOLD PLATED !
Cook said. “We don’t think the consumer particularly likes cash.”..Its the BANKS ,not the CONSUMER.. STUPID !
Milton Friedman wrote a Whole book about “THE GREAT CONTRACTION” cash didnt disappear it CONTRACTED in SUPPLY ! ITS CALLED A DEPRESSION ! Some people NEVER LEARN ,its not DIFFERENT this time .The Fu__in Banks say Cash will disappear …it wont ! they dont make any money on CASH so thats what they tell you .The Bastards.! A CONTRACTION in CASH caused by the BANKS will bring about the next “depression” ,or whatever name they want to call it.They will give it another NAME ,so they can claim they avoided a “Depression” …maybe like a “diminution of resources” or some other stupid spin…
We can avoid all this by shrinking the number of BANKS,so the burden on the public to support them will diminish ! TOO few supporting too many Banks!