Cashless economy, financial inclusion, Cypress-style bank money grabs & ZIRP/ NIRP will be just excuses for too-big-to-fail banks to easily steal from bank accounts of their customers.
Just in time for dubious financial products (a la Wall Street) from the new “Payment Banks”!
In an era of competitive currency devaluation, lowering interest rates would be stupid.
But, greed spares none.
In a low interest rate regime, there will be no point in investing in government securities or other fixed rate instruments. So, even conservative players such as government bodies, insure companies and regular Joes will be forced to invest in these dubious financial products that had already been seen as causing systemic destruction in 2008.
See Moral Volcano’s The Great Robbery of the Central Bank of Iraq from 2004