BREAKING NEWS - RBS Becomes First Bank To Set Negative Interest Rates: It's Charging Large Firms To Hold Cash - So Could Families Be Next?
I have just seen in the News that RBS has become the first bank to set Negative Interest Rates, & How It Is Charging Large Firms Just To hold Money, so is the average person next to be charged??
This is no surprise, however it is a warning of what is to come! We all need to be prepared and get wise with our money. Is it really wise to trust these bankers with our hard earned cash? and to pay them for this too?
I would rather store my money in precious metals like Silver & Gold
and store that away from the banking system and in a security box stored in a secure vault by an independent reliable firm. Such as the firm http://www.metrosafe.co.uk
You can read the full article here
http://www.dailymail.co.uk/news/article-3749817/RBS-bank-set-negative-rates-s-charging-large-firms-hold-cash-families-next.html
stillsafe upvoted and followed, what do you think is the agenda behind the negative interest rates. I Would like your opinion. You also may find my work interesting
https://steemit.com/steemit/@me-tarzan/great-news-steemit-weekly-data-report-good-news-bad-news
https://steemit.com/steemit/@me-tarzan/new-highs-steem-daily-data-8-18-2016
First in the UK, and yes they will charge the average person soon, with the deluded thought that this will expand the economy. People will start keeping money under their beds like the old days.
Answer: Gold, silver, Bitcoin and other (good) crypto's Steem looks good ^_^ And if your are wealthy enough other hard assets, like land.
I completely agree with you! & Syscoin too + Pablo Picasso Fine Art .
I wonder if we will see negative interest on our loans ;)
It's already been happening for quite a while. Why do some checking accounts have a monthly fee?
When I left for college, I closed the first checking account I had ever opened. For the prior couple of months they had been charging me. When I went in, they tried to tell me they were moving everyone to free checking, but I wasn't going to listen to it, since had originally opened this account as a free checking account.
You are right some current accounts will charge a monthly service fee, however there are many accounts out there which don't charge a monthly fee! However these Negative interest rates could soon be effecting everyone.. Instead of receiving interest on your money, you will be losing money... You did the right thing!
Next logical step is to pass some form of anti hoarding laws to limit how much gold, silver, or cash an average person can own. That way, people would have to keep their money in the bank or risk getting arrested.
Anything is possible with governments! I believe Physical Silver Coins & Fine Art are the safest assets to own
Hi @stillsafe. I have made a shout out of this post here in my Shout Out#5
https://steemit.com/steemteam/@cjclaro/shoouut-oouut-for-my-minnows-5-minnows-i-follow-that-speak-whale
Thank you very much! I just upvoted it too! :)
The head of the Bank of Canada has also speculated about the possibility of negative interest rates. I've yet to see a clear explanation of how they would work. Banks are not about to pay a borrower to borrow so I suspect they wont be applied to lending instruments. So what would their benefit be?
They are trying to stimulate spending. Either spend your money or we will take it bit by bit.