It's being used as that. The reset was inevitable, the monetary system is completely fucked so why not. At this point they have two choices, allow the biggest depression in history to clear away the unpayable debt through bankruptcies, stripping everyone of their life savings in the process. Or allow interest rates to go below zero, forcing people to spend their savings and to invest in stocks, houses, anything. To do that though they will need to abolish cash else everyone would simply take out cash and hold it.