Doc110 Loc: York PA

11/04/2015 Banks Poised to Charge for Deposits. Federal Reserve puts negative rates on table to entice lending
http://www.wnd.com/2015/11/banks-poised-to-charge-for-deposits/?cat_orig=money

Federal Reserve Chairman Janet Yellen suggested the Fed might consider negative interest rates, which effectively means financial institutions would charge customers to keep money in an account.

Several of Europe’s ailing commercial banks have imposed the measure in a desperate attempt to reinvigorate the economy.

But in the United States, banks have generally tried to entice customers with various interest rate advantages and other banking benefits, such as free checking and savings or even free money to open accounts.

That could soon change.

As Zero Hedge reported: “Yellen says if [rates] outlook worsened, fed might weight negative rates. Yellen says negative rates could help encourage banks to lend.”

Charging customers to keep deposits proved disastrous in Japan, and banks aborted the practice in 2000.

Yellen tempered the statement with a softer outlook, saying “she doesn’t see need for negative rates now,” and the “economy [seems] on a steady path of improvement,” Zero Hedge reported.

But as WND previously reported, U.S. economic statistics have been badly skewed.

'APOCALYPSE': BIG RETAIL SHUTTERING AT RECORD PACE Closings just tip of economic woes
http://www.wnd.com/2015/11/banks-poised-to-charge-for-deposits/?cat_orig=money

In July, financial eyes were wide open on the retail sector, watching with concern as several big name stores – from Macy’s, Office
Depot and Pier One to Pep Boys, Children’s Place and Barnes & Noble – announced massive closings.

At the same time, the White House has been presenting a rosy view of the economy, painting the jobs numbers and national growth data as irrefutable positives.

Pulfnick Loc: Knoxville, TN

I'm only aware of Sweden using negative interest rates. If other countries are doing so, I'd like to know about them. The answer to negative interest rates is simple. Just don't keep much of your cash in banks - just keep enough to handle your checking and auto bill payments. There are plenty of non-bank institutions in which to hold cash (as I'm doing personally), plus you can always convert cash to currency and keep it in a safe or safe deposit box, rather than paying a bank to hold it. The entire idea is really weak, and easily dealt with.

Keeping large amounts of cash in banks is stupid. FDIC insurance protects you? Right! If a crisis occurs, FDIC insurance guarantees you'll get your money, but it might take 99 years to get it.

boatbob2

Take your SPARE CASH????????????????? Does anyone have ANY SPARE CASH????????????? buy silver or gold,AND BURY IT........