
IPFS News Link • Economy - Economics USA
Cash on Lockdown: Bankers "Want Badly to Charge YOU Interest for Depositing YOUR Funds"
• http://www.prisonplanet.comSHTF has been closely following the recent calls from Wall Street to ban cash and implement a system that would force everyone to operate on the grid, even as interest rates have hit negative and customers are actually charged for keeping money in the bank.
For most observers, negative interest rates signals a bizarre and unsustainable economic landscape, but for those calling the shots, the negative rates are a necessary by-products of capital injections by the Federal Reserve over the course of its quantitative easing operations.
The biggest problem with these negative rates – besides the fact that they defy logic and send the wrong signals to investors – is that there is every reason to withdraw cash and stash it, rather than be charged to keep deposits in the bank.
But that's exactly what the system wants to FORCE you to do. Money Metals Exchange explains it well:
The Federal Reserve bank and its owners, the largest banks on Wall Street, want badly to be able to charge you interest for the privilege of depositing your funds. The problem is getting you to stand for it.
Depositors already complain vigorously about zero percent returns on checking and savings accounts. If they must start actually paying the bank to hold funds on deposit, many will opt to simply withdraw the cash and stuff it under their mattress or into a safe deposit box. That simply won't do.
The Goal Is to Force You to Deposit Cash and Charge You Interest