The war on cash has ramped up big time in the past month with India demonetising its two most widely held banknotes. They did so with no notice.

The bankers can't enact negative interest rates as people would withdraw their cash rather than paying to keep it in a bank.

As has been said already, once cash is eliminated, the state and bankers will be legally enabled to steal depositors' money (electronic digits) at will and cut off access to it.