Yellen Says Fed Evaluating Possibility of Negative Rates in U.S. - Bloomberg Business
Yellen is trying to appease while markets sell off big time and meanwhile gold is exploding. This is how desperate the US economy is right now; it looks like they're going to take interest rates negative. It's hard for some people to comprehend even though rates are negative in Japan, Sweden, Switzerland etc. Can you imagine -2% interest rates?
You have $10,000 in your bank account and at the end of the year, you lose $200 in interest so you're left with $9,800. That's the reason they're so keen to ban cash ie they want your money trapped in the bank or spent so it helps boost economic activity.
Yellen is trying to appease while markets sell off big time and meanwhile gold is exploding. This is how desperate the US economy is right now; it looks like they're going to take interest rates negative. It's hard for some people to comprehend even though rates are negative in Japan, Sweden, Switzerland etc. Can you imagine -2% interest rates?
You have $10,000 in your bank account and at the end of the year, you lose $200 in interest so you're left with $9,800. That's the reason they're so keen to ban cash ie they want your money trapped in the bank or spent so it helps boost economic activity.
- I almost shit the bed yesterday when I was checking conversion rates and the yen is about to catch up with the dollar...again. No likey likey.
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