Russell Napier Declares November 16, 2014 The Day Money Dies

[hongl3liang]

http://www.zerohedge.com/news/2014-11-12/russell-napier-declares-november-16-2014-day-money-dies


"on Sunday in Brisbane the G20 will announce that bank deposits are just part of commercial banks’ capital structure, and also that they are far from the most senior portion of that structure. With deposits then subjected to a decline in nominal value following a bank failure, it is self-evident that a bank deposit is no longer money in the way a banknote is. If a banknote cannot be subjected to a decline in nominal value, we need to ask whether banknotes can act as a superior store of value than bank deposits? If that is the case, will some investors prefer banknotes to bank deposits as a form of savings? Such a change in preference is known as a "bank run."

[1714796289]

1714796289

[thejaytiesto]

The life of a currency is measured in how easy it is to do groceries with it. I did my groceries today and fellas still accepting the dollar, therefore money is not dead.

[Wilhelm]

The life of a currency is measured in how easy it is to do groceries with it. I did my groceries today and fellas still accepting the dollar, therefore money is not dead.

+1. Let's wait for Zimbabwish inflation before saying it's dead.

On the other hand the money system is old and it's time for an overhaul. I believe Bitcoin to be a good choice.

[var53]

http://www.zerohedge.com/news/2014-11-12/russell-napier-declares-november-16-2014-day-money-dies


"on Sunday in Brisbane the G20 will announce that bank deposits are just part of commercial banks’ capital structure, and also that they are far from the most senior portion of that structure.

Can someone post a link to an official source of information confirming this? All I could find the last time I looked was speculative articles.

[PirateHatForTea]

http://www.reuters.com/article/2014/08/21/us-g20-banks-idUSKBN0GL0NN20140821

From August. Haven't found anything post G20 yet.