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RE: Negative Interest Rates COMING SOON! - Bankers Prepare For The Cashless Society!
"negative interest rates" is a new concept to me. Does that mean the banks would pay the people to borrow money? Sounds favorable to us consumers, right? Or am i misunderstanding.
you pay the bank for them to hold your money, so say it was -10% and you have £1000 then after the year you will have £900 in your account. the banks took 10%. But if we go cashless and you cant withdraw your money then they are basically forcing people to spend to pump money in to the economy.
Oh man! Thanks so much for your clarity. Thankful for new the currencies (Bitcoin) when there are so many changes on the horizon.