Posted on 12/06/2013 9:03:22 AM PST by Oldpuppymax
The Financial Times reports that “the U.S. Federal Reserve is considering the possibility of arbitrarily cutting the amount of interest it pays on money that it borrows from private commercial banks.” Private banks, of course, make a great deal of money this way.
But should the Fed make this decision, banks which have historically paid their customers a small amount of interest for the use of their money may well begin “…charg[ing] private individuals and businesses for the privilege of “parking” their money in an account for a time.”
Could such a policy create a bank run? That’s what happened on Cyprus when its government decided to TAX all private bank deposits as a means of...
(Excerpt) Read more at coachisright.com ...
I really need to get a handle on my lottery addiction.
Four or five hundred bucks a week out of the ATM and I have yet to win squat.
Two hundred years ago American banks did charge to keep someone’s money. What goes around.....
Only if you consider 0.25% to be a great deal of money.
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