Skip to comments.NEGATIVE INTEREST ON PRIVATE BANK ACCOUNTS COMING TO THE US?
Posted on 06/07/2014 9:53:10 PM PDT by kingattax
We just reported about how the European Central Bank has instituted negative interest rates for member banks. This could soon spread to the US and also to consumer accounts. If so, you would find money taken out of your bank account each quarter unless you spend it.
The idea is that if low rates are not yet persuading you to spend, then why not punish you even more for saving?
To make this more effective, there would also be a push for all electronic money to keep you from stashing any away from the confiscation agents. Ken Rogoff, leading Harvard (and Republican) economist has just recommended this as a first step toward implementing negative interest rates in the US.
This is far from the only innovation that could be coming our way. In a speech on June 4, San Francisco Fed Chairman John Williams suggested that the Fed should consider nominal income targeting. He said this could be a creative way to bend the curve in terms of macroeconomic and financial stability trade-offs. What this gobbledegook means is that the Fed would simply create money and then distribute it to parties in danger of bankruptcy and foreclosure.
Isnt that a great idea? Why stop with the bail-out of big banks when you can bail out anyone who gets in financial trouble? That would guarantee the zombification of the economy that is already well underway.
Bad business ideas and badly managed companies would live forever at the expense of good ideas and well managed companies
(Excerpt) Read more at breitbart.com ...
I’m already getting negative...I’m paralyzed with fear and don’t know which way to go....
with all the fees for actually using your money, might as well say we have it now. lol.
all this negativity is going to make the water go bad
Couches here we come..
Can you elaborate?
During the Depression, Alberta Premier Bill Aberhart, did a form of negative interest rates by issuing scripts that would constantly lose value over time.
It was done to keep the people spending money and not saving it.
What a great idea? What could possibly go wrong?
Your banker has no regard for human life, not even his own. For this reason, men, I want to impress upon you the need for extreme watchfulness while carrying out banking transactions.
So as not to contaminate your precious bodily fluids.
With “quantitative easing”, aka fiat currency, aka government plunder so extreme, only fools will have any investments linked to the value of the dollar. Inflation is inevitable.
Gold, silver, bullets.
All that needs to happen next to kill the global eco system is have money exchange centers where checks can be cashed and the need for banks will diminish; they will kill themselves off if they do this.
Banking is War!
When most of discretionary money is confiscated by the gov’t, the only entertainment left will be sex. I expect birth rates to go up!
The water will become depressed and cause people who drink it to say mean things about Gwyneth Paltrow...
Be square and you should be okay.
See California, even sex will require government forms to be filled out.
I did not know there was such a thing as Sad Water Poems...
And war is, hey diddly diddly, bo diddly .... heck!
So, head down, feet firmly planted, interlocking grip,
we smash the bankers, driving them before us, denying their women our essence and singing lusty songs of victory.
Hi hoohhhhhh! Hi hoohhhhhh! It’s off to work we go ....
NTI can probably relate to this short story.... I think it is written in crazy....
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