You have to see this short video that was just released a few days ago as many people are not aware as to what transpired yesterday when ECU Bank chairman Mario Draghi initiated Quantitative Easing - (purchasing of their own bonds).
This action could very well set-off currency wars among developed nations. This is the first time in history where Bond yields have gone negative and it happened in, both, Germany & Switzerland. Bond yields have gone negative ( -.15) in Germany. The major German & Swiss banks are now charging their customers for holding their deposits. I am not making this stuff up.
These occurrences are getting very little press coverage.
http://www.figanews.com/2015/01/mohamed-el-erian-on-ecb-qe-outcome.html
This action could very well set-off currency wars among developed nations. This is the first time in history where Bond yields have gone negative and it happened in, both, Germany & Switzerland. Bond yields have gone negative ( -.15) in Germany. The major German & Swiss banks are now charging their customers for holding their deposits. I am not making this stuff up.
These occurrences are getting very little press coverage.
http://www.figanews.com/2015/01/mohamed-el-erian-on-ecb-qe-outcome.html
With inflation CD rates here are already negative. This is the reason the stock market keeps going up. It's the only place to earn a profit on money. To bad that profit is only on paper and will likely result in massive losses for many small investors when it inevitably crashes.
ReplyDeletePNC bank charges you for having a savings account! I have a friend who started savings accounts for her 2 daughters then hit on some bad times and was not able to make deposits for a while, when she did go to she found out she owed them! They had started to charge for having the account and wiped out what was in there! So how do you show your children what saving money does when the bank charges you to save your money? That made her 2 accounts negative interest rate accounts...and the banks get richer!
ReplyDeleteKeep voting Republican and see how it turns out...
ReplyDeleteThat is crazy. I heard the tail end of the story on NBC news coverage and I thought to myself about how people are going to start pulling their money.
ReplyDeleteYou know things are bad when the banks start charging the depositors for holding their money. Not all that long ago a typical bank would pay about 5-1/4% on passbook savings accounts.
You know something is definitely out of whack when they start charging its customers to hold the money.
That is absurd! Better off for the Germans & Swiss to stuff it under their mattresses.
ReplyDeleteNot an exact science, that is for sure. They could be waling a pretty thin line. yipes
ReplyDelete