In this Roundtable Insight discussion with Barry Habib, I discuss rising interest rates and the war on cash.

As governments and central banks become more aggressive, savers are pushed into a world of financial repression, negative real returns, capital controls, and increasing surveillance of private transactions. India’s demonetization is one example of how quickly cash can be attacked when the state wants more control over people’s savings and economic lives.

Watch the full discussion below:

Key Takeaways

• Rising interest rates expose the fragility created by years of cheap money and central-bank intervention.
• The war on cash gives governments and banks greater control over savings, transactions, and private economic life.
• India’s demonetization shows how quickly ordinary people can be trapped when access to cash is restricted.
• Financial repression is not only about low interest rates; it also includes capital controls, surveillance, and limits on monetary freedom.
• Gold and geographical diversification remain important protections against arbitrary state power.