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Title: [2016-07-26] news.bitcoin.com-Natwest Warns of Sub-Zero Rates, Savings NOT in... Post by: Jambolb2 on July 26, 2016, 01:05:36 PM Natwest Warns of Sub-Zero Rates, Savings NOT in Bitcoin at Risk
For now, the bank said that the negative interest rates would only apply to money held in current accounts of business customers, not their savings accounts or other types of accounts.Natwest While only business customers will be affected, doing so sets a scary precedent, diminishing profits in the business sector and causing millions of retail customers to fear that the same treatment could also be applied to them. Even worse, if a prestigious bank like Natwest charges negative interest rates, other banks are likely to follow suit and also charge them as well. Eventually, if it spreads, everyone holding cash at a bank in the UK would have to pay interest to have their money held instead of earning interest on it. READ MORE >>> https://news.bitcoin.com/natwest-sub-zero-rates-savings-bitcoin/ (https://news.bitcoin.com/natwest-sub-zero-rates-savings-bitcoin/) Title: Re: [2016-07-26] news.bitcoin.com-Natwest Warns of Sub-Zero Rates, Savings NOT in... Post by: DooMAD on July 26, 2016, 05:15:05 PM It certainly sets a dangerous and alarming precedent. One that could only occur in a world where banksters remain a law unto themselves, completely unopposed. Already sent out some warnings to friends who run small businesses in case they weren't already aware. They're going to be the guinea pigs before the banks set their sights on the wider populace. It feels less like a question of "if" and more "when".
Here's ZeroHedge's take: http://www.zerohedge.com/news/2016-07-26/rbs-warns-clients-may-face-negative-interest-rates |