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weaker

Negative Interest Rate On Retail Bank Deposits In Spain

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Looks like nominal (and real) negative retail bank rates are here:

(original article in Spanish)

http://www.libremercado.com/2014-07-04/la-banca-no-podra-repercutir-a-los-clientes-el-limite-a-las-comisiones-de-las-tarjetas-1276523068/

4-07-07reuters.com

`` Spain on Friday said it would introduce a blanket taxation rate of 0.03 percent on all bank account deposits, in a move aimed at harmonising regional tax regimes and generating revenues for the country's cash-strapped autonomous communities.''

The banks are a cancer.

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I thought we have already worked out that money was worthless....not exactly worthless, but not worth saving or borrowing....pay as you go...tomorrow who knows. ;)

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I thought we have already worked out that money was worthless....not exactly worthless, but not worth saving or borrowing....pay as you go...tomorrow who knows. ;)

Real money should only ever be transferred at the behest of the owner, and certainly not retrospectively.

What we call money is junk.

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I thought we have already worked out that money was worthless....not exactly worthless, but not worth saving or borrowing....pay as you go...tomorrow who knows. ;)

Money is worth whatever goods and services that you can trade it for. So barring a currency collapse with the resulting hyperinflation, it has worth.

When interest rates are near zero thanks to money printing (which is pushing asset prices up), it makes no sense to work to earn and save it and a lot of sense to just borrow as much as you can and speculate on assets.

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Money is worth whatever goods and services that you can trade it for TODAY So barring a currency collapse with the resulting hyperinflation, it has worth.

When interest rates are near zero thanks to money printing (which is pushing asset prices up), it makes no sense to work to earn and save it and a lot of sense to just borrow as much as you can and speculate on assets.....what is bought with borrowed money does not guarantee future price.

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Money is worth whatever goods and services that you can trade it for. So barring a currency collapse with the resulting hyperinflation, it has worth.

When interest rates are near zero thanks to money printing (which is pushing asset prices up), it makes no sense to work to earn and save it and a lot of sense to just borrow as much as you can and speculate on assets.

That makes very little sense IMO, you will just be left holding a lot of debt when it blows up. Rent is collapsing, food prices are going nowhere, demand is collapsing. Barring total collapse, those with a few years savings will do well. Seriously doubt I ever want to own property again to be honest.

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That makes very little sense IMO, you will just be left holding a lot of debt when it blows up. Rent is collapsing, food prices are going nowhere, demand is collapsing. Barring total collapse, those with a few years savings will do well. Seriously doubt I ever want to own property again to be honest.

You hide / remove profits regularly and throw the shit back at the lenders when it blows up, ensuring there is nothing left foir them.

A strategy that has been well rewarded by the central bank and government.

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weaker, on 08 Jul 2014 - 3:01 PM, said:snapback.png

The banks are a cancer.

The politicians are the cancer

The bankers are the politicians. It's now a Governbankment.

Tony Blair will be paid £2.5m a year for his post at US investment bank JP Morgan, it was revealed today.

http://www.standard.co.uk/news/tony-blairs-parttime-bank-job-will-make-him-five-times-more-than-expected-6689487.html

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