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.
Isn’t 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 ...
You’re not going to bring up her embarrassing armpit odor, are you? She can’t help it if she has stanky pits. Poor girl has tried everthin’: Old Spice roll on, Gold Bond powder, Janitor-in-drum. Nothin works for her.
“See California, even sex will require government forms to be filled out.”
Only if you are of college age.
lol
at first
Well, I was going to be diplomatic and describe them as “possessing an earthy odor.”
Now that I think of it, Dapper—I’ve never seen you drink a glass of water.
How about a nice, tall glass of ........ VODKA, comrade!?
Have you ever picked your feet in Poughkeepsie?
Don’t think about it—Yes or No.
Well, it would keep her busy doing something other than, uh, well...
The roadies for Coldplay said the smell could knock a buzzard off a gut wagon. So yeah, pungent like Pepe Le Pew on a hot day.
Uh, oooooo.....kay, why would anyone keep anything in the bank at all in that scenario?
Perhaps she maintains a compost pile under there...
When I was a wee lad, I learned that banks make THEIR money by using yours to invest. In exchange, they pay you interest.
If interest goes negative, what fool would keep his money in any bank?
And how will banks make income if everyone withdraws their funds?
Seems like a recipe for a complete collapse of banking.
Frankly, I'm ready to withdraw all funds right now, because 0.15% ain't worth $hit, anyway.
And I have to report that juicy $20 per year in interest income on my taxes.
It simply is not worth my time for even that lowly amount.
The only reason I don't withdraw everything now, is that I have all of my bills paid by bank transfer.
Guess I could get used to writing checks again.
Oh, wait, that won't work.
Guess I'll have to start obtaining money orders.
Somebody please explain this to me. What is negative interest? is that where I have to pay to keep my money in the bank?
If I take all my cash out and the government catches me with it, do they seize it?
You describe the Carter years.
bump
That's odd. No one has beaten Rogoff till he puked blood?
Vehicle payment schemes (anti-ownership payment to) real estate mortage (anti-ownership), are not moving for the leach “own payments to” group. The cash-for-clunker scam was to crash the affordable ownership opportunity to benefit the payment to anti-ownerships (banks again).
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