News Japan Cuts Interest Rates To Negative - GoFuckYourself.com

RummyBoy · 01-30-2016, 09:50 AM

"Pandora's Box Is Open": Why Japan May Have Started A 'Silent Bank Run' | Zero Hedge

It's -0.1%

Now listen guys, if the cut goes deeper as the article says, then depositors will have to pay the bank to hold deposits since its a negative rate. This has happened in other parts of Europe such as Switzerland and Sweden.

This is coming to many countries and possibly to the USA soon....

What will you do if you have $10,000 in the bank at -1% and you lose $100 every year? The answer is that you'll be tempted to spend the money on something and this is exactly what they're trying to do here.

After some years, to stop people drawing cash out instead, the next step is to ban cash.

ITraffic · 01-30-2016, 09:58 AM

zerohedge has been predicting imminent economic apocalypse for 8 years now.

at what point do you just say "meh?"

Barry-xlovecam · 01-30-2016, 10:14 AM

That article is bassakwards.

The BOJ is paying the Japanese banks to take money from it.
The BOJ wants to devalue the Yen.
Why: to lower the price of Japanese exports.

Devaluation is the only ''hidden tax'' here.

You really think banks would charge to keep your money? WHY? Because they can BORROW that money from the BOJ (or other central bank) and put all their risk in one place? You don't understand banking that is obvious.

Better to have 1000's of depositors and a deposit withdraw risk spread than on giant debt subject to rate change or loan call like you would have with a central bank. That is a every Bank's risk aversion policy.

To put this on a simpleton level:
Would you rather borrow from 10 people you know or one guy with a baseball bat backed by the government?

marc22 · 01-30-2016, 09:07 PM

Of course banks would charge you to keep money in the bank.

This was planned years ago. That's exactly what the banks are planning on doing.

#1 first step is negative interested rates.

#2 second step is ban cash.

#3 third step is to start charging customers who have lots of money in the bank.

It's important to ban cash because if you do then people can't keep cash under their mattress. And even if years later they bring cash into the bank. It is banned and longer holds any value.

It's a great way for banks to control your money. Once all your money is in the banks, well then they can start charging you for keeping lots of money in the bank.

I've never paid any fees to banks for 15 years. I've always kept my balance above 500 dollars. This way i don't get charged fees.

Only the poor pay fees which makes them even more poor.

But once the banks get rid of cash. The savers and people who have the discipline to save money will be punished.

Now, the poor class middle class and rich class, will all pay fees. No one will be exempt.

It is an excellent way for banks to steal more money from everyone. We won't be able to save money which is exactly what banks want.

By charging people to keep money in the bank, yes it will make people spend money more since people will think it's better to spend it since the bank is taking it from me anyways. But it will make us poorer and poorer.

The banking cartels are not stupid. They know exactly what they are doing to us.

Keep everyone poor except for the 1%

I really don't know what else to say... Most people are clueless about what's going on. They are busy watching movies and listening to all the crap hollywood makes on tv to understand what's really happened.

Once they start charging us to keep money in the banks, it's a good time to start thinking about exchanging all your saving into bitcoin, where the bank cartels can't steal it..

but by then.. it might be too late..

arock10 · 01-31-2016, 08:17 AM

People who stick their money in banks are already losing money due to inflation (which isn't much but still more then .1%). Savers have been screwed for many years already

And it's not the 1%, it's parts of the .01%...

candyflip · 01-31-2016, 08:43 AM

Quote:

Originally Posted by Barry-xlovecam

That article is bassakwards.

The BOJ is paying the Japanese banks to take money from it.
The BOJ wants to devalue the Yen.
Why: to lower the price of Japanese exports.

Devaluation is the only ''hidden tax'' here.

You really think banks would charge to keep your money? WHY? Because they can BORROW that money from the BOJ (or other central bank) and put all their risk in one place? You don't understand banking that is obvious.

Better to have 1000's of depositors and a deposit withdraw risk spread than on giant debt subject to rate change or loan call like you would have with a central bank. That is a every Bank's risk aversion policy.

To put this on a simpleton level:
Would you rather borrow from 10 people you know or one guy with a baseball bat backed by the government?

Good thing we have Barry the banking lawyer here to make sure we all know what's up.

dyna mo · 01-31-2016, 08:52 AM

Quote:

Originally Posted by Barry-xlovecam

That article is bassakwards.

The BOJ is paying the Japanese banks to take money from it.
The BOJ wants to devalue the Yen.
Why: to lower the price of Japanese exports.

Devaluation is the only ''hidden tax'' here.

You really think banks would charge to keep your money? WHY? Because they can BORROW that money from the BOJ (or other central bank) and put all their risk in one place? You don't understand banking that is obvious.

Better to have 1000's of depositors and a deposit withdraw risk spread than on giant debt subject to rate change or loan call like you would have with a central bank. That is a every Bank's risk aversion policy.

To put this on a simpleton level:
Would you rather borrow from 10 people you know or one guy with a baseball bat backed by the government?

Savers to pay interest to banks - Feb. 12, 2015

01-31-2016, 08:17 AM	#5
arock10 Confirmed User Join Date: Jan 2006 Posts: 6,218	People who stick their money in banks are already losing money due to inflation (which isn't much but still more then .1%). Savers have been screwed for many years already And it's not the 1%, it's parts of the .01%... __________________ Sup

01-30-2016, 09:50 AM	#1
RummyBoy Confirmed User Join Date: Dec 2009 Posts: 2,157	Japan Cuts Interest Rates To Negative "Pandora's Box Is Open": Why Japan May Have Started A 'Silent Bank Run' \| Zero Hedge It's -0.1% Now listen guys, if the cut goes deeper as the article says, then depositors will have to pay the bank to hold deposits since its a negative rate. This has happened in other parts of Europe such as Switzerland and Sweden. This is coming to many countries and possibly to the USA soon.... What will you do if you have $10,000 in the bank at -1% and you lose $100 every year? The answer is that you'll be tempted to spend the money on something and this is exactly what they're trying to do here. After some years, to stop people drawing cash out instead, the next step is to ban cash.

01-30-2016, 09:58 AM	#2
ITraffic Confirmed User Industry Role: Join Date: Jul 2013 Posts: 2,726	zerohedge has been predicting imminent economic apocalypse for 8 years now. at what point do you just say "meh?"

01-30-2016, 10:14 AM	#3
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	That article is bassakwards. The BOJ is paying the Japanese banks to take money from it. The BOJ wants to devalue the Yen. Why: to lower the price of Japanese exports. Devaluation is the only ''hidden tax'' here. You really think banks would charge to keep your money? WHY? Because they can BORROW that money from the BOJ (or other central bank) and put all their risk in one place? You don't understand banking that is obvious. Better to have 1000's of depositors and a deposit withdraw risk spread than on giant debt subject to rate change or loan call like you would have with a central bank. That is a every Bank's risk aversion policy. To put this on a simpleton level: Would you rather borrow from 10 people you know or one guy with a baseball bat backed by the government?

01-30-2016, 09:07 PM	#4
marc22 Confirmed User Industry Role: Join Date: Jul 2014 Location: u.s.a. Posts: 151	Of course banks would charge you to keep money in the bank. This was planned years ago. That's exactly what the banks are planning on doing. #1 first step is negative interested rates. #2 second step is ban cash. #3 third step is to start charging customers who have lots of money in the bank. It's important to ban cash because if you do then people can't keep cash under their mattress. And even if years later they bring cash into the bank. It is banned and longer holds any value. It's a great way for banks to control your money. Once all your money is in the banks, well then they can start charging you for keeping lots of money in the bank. I've never paid any fees to banks for 15 years. I've always kept my balance above 500 dollars. This way i don't get charged fees. Only the poor pay fees which makes them even more poor. But once the banks get rid of cash. The savers and people who have the discipline to save money will be punished. Now, the poor class middle class and rich class, will all pay fees. No one will be exempt. It is an excellent way for banks to steal more money from everyone. We won't be able to save money which is exactly what banks want. By charging people to keep money in the bank, yes it will make people spend money more since people will think it's better to spend it since the bank is taking it from me anyways. But it will make us poorer and poorer. The banking cartels are not stupid. They know exactly what they are doing to us. Keep everyone poor except for the 1% I really don't know what else to say... Most people are clueless about what's going on. They are busy watching movies and listening to all the crap hollywood makes on tv to understand what's really happened. Once they start charging us to keep money in the banks, it's a good time to start thinking about exchanging all your saving into bitcoin, where the bank cartels can't steal it.. but by then.. it might be too late..