[–] 20357765? 1 point 0 points 1 point (+1|-1) ago
So let’s say we go to negative interest rates. How many people would the. Close their savings accounts at their bank? I know I would. Not a chance in hell I’m paying the bankers to hold my money, loan it out and profit from it.
Alternatives are: cash under your mattress; invest everything in the market; park money in another store of value (gold, crypto, etc). None of these sound appealing for a stable place to store money to pay monthly bills.
[–] 20363762? 0 points 1 point 1 point (+1|-0) ago
These are the interest rates for the fed to the government for the job of printing our money. It has nothing to do with the bank you use and what they offer for savings accounts. You give your money to then and they can loan out 10x the money you gave them. Fractional reserve banking is still in the works
https://tweetsave.com/realdonaldtrump/status/1166721267527012352 :
Donald J. Trump on Twitter: "Our Federal Reserve cannot “mentally” keep up with the competition - other countries. At the G-7 in France, all of the other Leaders were giddy about how low their Interest Costs have gone. Germany is actually “getting paid” to borrow money - ZERO INTEREST PLUS! No Clue Fed!"
FULL TWEET TEXT:
Our Federal Reserve cannot “mentally” keep up with the competition - other countries. At the G-7 in France, all of the other Leaders were giddy about how low their Interest Costs have gone. Germany is actually “getting paid” to borrow money - ZERO INTEREST PLUS! No Clue Fed!
[–] 20357579? 0 points 2 points 2 points (+2|-0) ago (edited ago)
This is a mischaracterization to defend the notion of the indefensible; the central, wealth stealing, counterfeiting, "bank".
Legal tender laws have no place in a free nation.
The only lawful money the US can provide is gold and silver coin. Any alternative is slavery, and a betrayal of their oaths to protect and obey the Supreme Law of the Land.
[–] 20357305? 0 points 2 points 2 points (+2|-0) ago (edited ago)
Just write an EO to Audit the Fed?
The house or senate won’t veto, because they would all be on record, of not wanting to audit the fed? Plus they would need super majority for the vote, to veto?
I suspect, he’d get lower interest rate offer just before signing?