Today on The Santelli Exchange on CNBC, Rick Santelli acknowledged CHASE Bank’s war on cash using Joe Salerno’s Mises Wire post from Monday:
Santelli: Every piece of paper money, on it, on the left side somewhere says “this note is legal tender for all debts public and private.” Now I’d like to put up something from te Mises Institute on what they are calling a “War on Cash.” Joe Salerno today writes “As of March, Chase began restricting the use of cash in selected markets, including Greater Cleveland. The new policy restricts borrowers from using cash to make payments on credit cards, mortgages, equity lines, and auto loans.” ...This article further went on to say even putting cash or coins that aren’t collectible in deposit boxes [will no longer be allowed]. ...It makes me nervous.
