NSFW Anon Archived POTUS' TWEET - Our Federal Reserve cannot "mentally" keep up with the competition - other countries... (twitter.com)
submitted ago by 3402761?
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Archived on: 11/27/2019 10:00:00 AM
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NSFW Anon Archived POTUS' TWEET - Our Federal Reserve cannot "mentally" keep up with the competition - other countries... (twitter.com)
submitted ago by 3402761?
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[–] 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
[–] 20358377? ago
Put it in a local credit union. It gets loaned back out to local people & businesses. They also have better rates than big banks.