MCViewPoint

Opinion from a Libertarian ViewPoint

Posts Tagged ‘negative interest rates’

SchiffGold.com | Peter Schiff: Negative Interest Rates Are Boneheaded

Posted by M. C. on September 16, 2019

https://schiffgold.com/peters-podcast/peter-schiff-by-his-own-definition-trump-is-the-bonehead/

by

Donald Trump has been badgering Federal Reserve Chairman Jerome Powell for months, begging for lower interest rates. Yesterday, he took things to another level, saying that the “boneheads” at the Fed need to push rates into negative territory.

In his podcast, Peter Schiff said negative interest rates are boneheaded.

Trump used a pair of tweets to push for negative interest rates…

Trump is basically saying negative rates would allow the federal government to refinance its debt. It could roll over short-term debt into longer termed bonds and lock up the low rates. But as Peter pointed out, interest rates are already near historic lows…

The bottom line is that Trump could do what he says he wants to do right now. The “boneheads” at the Fed aren’t stopping him…

Peter said Trump is a complete hypocrite trying to pretend it’s the boneheads at the Fed.

He’s kind of like rehearsing now for the election because he wants to blame everything that has gone wrong on the Federal Reserve rather than accepting responsibility himself.”…

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Your Haircut Appointment Is Coming Due

Posted by M. C. on May 20, 2015

According to the Financial Times charges for deposits are primarily interbank.

HSBC has written to other banks to warn it will start charging them for deposits in euros, Swiss francs, Danish krone and Swedish krona — all currencies of countries that have negative interest rates — at its UK, German and Hong Kong operations from this summer.

German, Swiss, Danish and Swedish banks have been at pains to avoid subjecting the general public or small businesses to fees for depositing cash, preferring to impose levies only on the biggest corporate and institutional customers.

I said ‘primarily’. Read the rest of this entry »

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