Posted on 05/11/2016 1:35:23 PM PDT by Lorianne
Negative interest rates have become a phenomenon with economists and the media. But Im writing to tell you something about negative interest rates you havent heard. You certainly wont hear about it in the mainstream press.
Whats coming at you is a historic event. Its something our grandchildren will hear stories about, much like the Great Depression or the Cold War. It could send the price of gold much higher in the coming years.
If you know whats coming, it could mean the difference between having lots of free cash in retirement and barely getting by. And please remember this warning: Social Security will help even less than you think.
To understand the gravity of this moment, lets cover one of the most bizarre ideas in the world
Negative Interest Rates.
In a normal world, your bank pays you interest on your savings. It takes your money, pools it with other peoples money, and loans it out. The bank makes money by paying out less in interest on your deposit than it earns in interest from borrowers. For example, it might pay out 3% to depositors while earning 6% from borrowers. This is how it has worked for decades.
Negative interest rates turn your normal bank account upside down. They could only exist in a crazy world where idiot politicians are in control. Unfortunately, thats just what were dealing with right now.
Politicians all over the world are ordering banks to charge depositors (you) a fee for storing cash. Its a perversion of saving. Its a perversion of capitalism. Its a perversion of planning for the future.
And its going to result in disaster.
(Excerpt) Read more at wolfstreet.com ...
they apparently call it service availability charge..no indication you don’t pay it if you dont use autpay...
http://www.pec.coop/Home/Energy_Services/Rates.aspx
A notice showed up with the billing statement.
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