Are US Banks Ready for NIRP??…”the real objective of the “New Normal” is to bankrupt Middle America”
SilverDoctors.com
February 18, 2016
This deliberate devaluation of your money in a zero interest rate environment, now gets a new shock.
Safety exists only in the minds of the deniers.
The risk of societal implosion cannot be hedged when the instruments used are merely another variation of the same Ponzi scheme.
Submitted by James Hall, BATR:
The test run proved that negative interest rates can push savers into minus territory. Public outrage, while registered is not heard by the central bankers. The reasoning that commercial banks will start making loans because of the cost of sitting on deposits is pure fantasy thinking. As the article, Low Interest Rates Impoverish Savers shows,
“How long will people accept this theft? The options to parking cash in hand with a FDIC insured institution seems worth an examination. However, few alternatives for working class savers exist. Surely, this occurrence is intentional because the real objective of the “New Normal” is to bankrupt Middle America. What other conclusion makes sense?”
Part of this deliberate devaluation of your money in a zero interest rate environment, now gets a new shock. Janet Yellen: Negative rates possible in U.S. “We’re taking a look at them … I wouldn’t take those off the table,” Federal Reserve chair Janet Yellen said Thursday at a Congressional hearing.
Imagine putting a C note in a bank account and getting 99 Federal Reserve dollars back. Some might say, well just another tax. Others may shout hell no and take their money out and close their account. In either case the facts are undeniable; we all will be poorer if the Fed pushes the button to go negative.
Tim Maverick in the Wall Street Daily warns in Negative Interest Rates Coming to the U.S.
“Even if steeply negative rates on cash don’t happen, a negative rate of 4% or more would have drastic effects around the financial system.
The Rest…HERE
