It's a few years in the future and society in general is fed up with hoarders; people who have a lot of money lying around that they don't use. Motivated by the rule that money should roll, they overhaul the (by now fully digital) money-system and add these new rules:
- Any money you obtain has a 1 year lifetime.
- If you have not spent that money after 1 year, it will simply vanish from the system.
- The system is a simple "first in/first out" queue, so if you earn 100 [money] today, that means you need to spend at least 100 [money] in the coming year, or it will start going away
- Simple loopholes are closed. You can't trade money for money. Buying something and then later selling it back to the same guy means the money returns with a shorter timer; if you bought something 4 months ago and then sell it back to the same person today, you will get money with an 8-month timer on it.
- Your bank account has a timer on it that shows when and how much of your money will go away, so it won't suddenly vanish.
- The rule only applies to money, never to goods. This includes goods with only artificial value. However; the buyback rule still applies; if you buy an artificial good and then sell it back to the same entity more than a year later, the money will vanish immediately.
- The rule applies to both people and institutions. That includes pensions and insurance companies.
Due to the stack system, it should be possible to maintain an effective savings-account of roughly one years' income. But anything beyond that is impossible.
What would happen to society and the economy under these added rules? How does this impact regular people and how does it impact the super rich?
Assume that "people move somewhere else" is not an option as the system will be implemented globally.