Negative interest rates: Savers and mortgage holders warned about 'bizarre' outcomes

by **Mrblue2015** Tue Jul 21, 2020 4:14 pm

https://www.google.co.uk/amp/s/www.express.co.uk/finance/personalfinance/1306220/interest-rates-uk-negative-savings-account/amp

“The Bank of England (BoE) wanted to keep money in the real economy and to kick-start spending.”
- interesting, so what else is there other than this “real” economy? Wink

"The intention is to get money flowing out of banks and into the economy in the form of loans and mortgages.“
- Yes, I have no doubt that your intention is to further enrich the banks and further impoverish UK citizens. No change there to the norm. (And hence why I posted in the ‘Debt’ section!)

by **LionsShare** Tue Jul 21, 2020 4:23 pm

but with negative interest rates: Savers and mortgage holders warned about 'bizarre' outcomes Empty Negative interest rate isn't that where we start paying them for owing us (no such thing as deposits, cash 1ce given to bank now belongs to bank & account is record of what bank owes us)?

by **Mrblue2015** Tue Jul 21, 2020 5:43 pm

Yep - so truly bizarre, eh!

by **assassin** Wed Jul 22, 2020 3:06 am

LionsShare wrote:but with negative interest rates: Savers and mortgage holders warned about 'bizarre' outcomes Empty Negative interest rate isn't that where we start paying them for owing us (no such thing as deposits, cash 1ce given to bank now belongs to bank & account is record of what bank owes us)?

Exactly LS it means they now become a private bank and charge you for their services and the agenda is coming to its conclusion, most people have, and use credit cards instead of cash, most people have their wages/salaries paid directly into a bank using CHAPS or similar systems, and many pay regular bills by direct debit; now they will have many people by the scrotum as they are reliant upon a bank in some way or anotherand are indoctrinated into these ways and many won't change.

If handled correctly it could be used as a resurgence for cash and if plenty of people demanded their company pays them in cash instead of crediting their account then it would remove much of the reliance of banks and the first bank saying "we don't charge for wages being paid into our bank" will hit the jackpot, and. if people draw out all of their wages it means they can only spend cash.

by **Mrblue2015** Wed Jul 22, 2020 7:43 am

Totally agree with you assassin but as we know, the vast majority of people will not demand to be paid in cash and, especially in current times, will be “oh so grateful!” to even have a job.

Of course, the banks all know (foresaw) this and so their plan will come to fruition.

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Negative interest rates: Savers and mortgage holders warned about 'bizarre' outcomes

Negative interest rates: Savers and mortgage holders warned about 'bizarre' outcomes

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Re: Negative interest rates: Savers and mortgage holders warned about 'bizarre' outcomes

Re: Negative interest rates: Savers and mortgage holders warned about 'bizarre' outcomes

Re: Negative interest rates: Savers and mortgage holders warned about 'bizarre' outcomes

Re: Negative interest rates: Savers and mortgage holders warned about 'bizarre' outcomes