5/01 ANDY HOFFMAN (CryptoGoldCentral.com): Deutschebank To Charge NEGATIVE INTEREST RATES For ALL Deposits Above €100,000 – The Most Bullish Event In Bitcoin History…Just Before The Halving
The “perfect storm” of Bitcoin-bullish events turned into a Cat-5 hurricane today – featuring the U.S. money supply rising $350 billion in ONE WEEK; the Fed balance sheet surging to $6.66 trillion, as the National Debt approaches $25 trillion (excluding “off-balance sheet” items); and Donald Trump on the verge of banning Federal portfolios from purchasing Chinese stocks - launching a potentially devastating, financially-focused Cold War. This, as Bitcoin soars just ten days from the HALVING - whilst its archaic, dying “competition,” Precious Metals, continue to plunge.
However, what emerged last night – conveniently, ahead of the May Day European bank holiday – was perhaps the most bullish event in Bitcoin’s history, on a par with the Cyprus bail-ins, Greek banking crisis, and 2008 financial Crisis the spawned Bitcoin’s creation. Which is, Deutschebank, one of the world’s largest banks, announcing it will charge negative interest rates on ALL deposits above €100,000.
https://twitter.com/Andy_Hoffman_CG/status/1256061576731176965
Starting May 18th - just one week after the BTC halving - Deutschebank will no longer subsidize clients by paying positive deposit rates. The ECB has strangled the European banking system for six years with negative rates, lowering them to -0.5% earlier this year; and now, amidst the worst financial crisis in decades, it is no longer feasible for banks to not pass these rates through.
First, it will be Deutschebank – but shortly, the rest of the European banks will follow suit; and eventually, the big Japanese banks that have been subjected to negative rates by the BOJ. To that end, it’s just a matter of time before the Fed takes rates negative, too – putting the final nail in the “full faith and credit” of the U.S. dollar and Central banking system.
Perhaps it starts as a trickle, before the exodus of capital from the banking system explodes like a raging river. Or perhaps, amidst the uncertainty of the COVID crisis; and publicity of the halving; the flood of money into Bitcoin, from all corners of the globe, starts immediately.
Either way, it WILL happen – which is why I believe it is possible the “New Hoffman Line” (a $1 trillion BTC market cap) will be achieved in the next 12 months. Ultimately, I believe this will be the first stop toward the “New, New Hoffman Line” of exceeding gold’s current market cap of roughly $10 trillion – with the possibility of one day, becoming a ubiquitous global asset, on a par with increasingly archaic equities, fixed income instruments, and fiat currencies, valued at $100 trillion-plus.