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Author Topic: Bank of Japan institutes negative interest rates  (Read 2304 times)
TReano
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January 29, 2016, 07:05:59 PM
 #21

Japan has gone NIRP - basically they have devalued their currency to help exports in a bid to get growth.

China is struggling at the minute, they really need to devalue their currency to compete and this news might temp them to go for it next month. The Chinese people (1bn+) are looking at having some of the value of their savings wiped out by the central banksters. If you knew your country was going to devalue the currency would you try to take steps to protect your wealth?


Can you imagine if even a small portion of Chinese people start to buy BTC?


they had enough time already and obviously they are not buying.


because bitcoin is not based on interest, this mean that you're not actually losing anything if you don't sell with banks instead they are basically stealing your money if you leave those there in their account

with bitcoin you only lose if bitcoin go to zero, much more probable that your bank go bankrupt, if you ask me

nobody will safe bitcoin if it fails while Banks will always be safed.

there are plenty of example of banks and whole goverment that failed miserably, cyprus is not the only example, there is greece too, and i'm sure there are many others

All banks got their bailout beside Banks in Iceland where even Banksters went to prison.
But Iceland is so small and insignificant compared to the rest of the world.

oh okay. There is also Lehman brothers. They are the only big bank which didn't get their bailout because they where the first Bank back then going bankrupt. The Result was the 2008 crises which forced the governments to safe all Banks in order to not ignite the crises even further.
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January 29, 2016, 07:13:07 PM
 #22

NIRP will be coming everywhere soon, EU and Japan have it now and the ZIRP policies of the UK and the US will soon go NIRP when the economy falters.

This will also be teamed with a ban on cash so no one can escape, i.e. you have to spend your money or face it being whittled away in the bank. Stuff like Apple Pay and contactless credit cards is just the beginning.

NIRP - Negative Interest Rate Policy
ZIRP - Zero Interest Rate Policy

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January 29, 2016, 07:26:16 PM
 #23

This is why I got into bitcoin.  Coming to the US soon too.  I'll never pay a bank to hold my money.
Negative interest, never heard about like this thing before. Its better to put money in vault   under the bed ,rather than paying banks to hold money.

This sound like paying bank to guard our money. LOL

Much better idea Grin
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January 29, 2016, 08:25:52 PM
 #24

This is why I got into bitcoin.  Coming to the US soon too.  I'll never pay a bank to hold my money.

Lol really? In my country the interest is close to 0% but paying a bank money?
Banks which overcharge us on almost every service they provide?

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January 29, 2016, 09:46:34 PM
 #25

Wow can they do that? I mean suppose you got a big savings account there, then all of a sudden you have pay big time fees?
This don't sounds fair to me?
TReano
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January 29, 2016, 11:11:22 PM
 #26

Wow can they do that? I mean suppose you got a big savings account there, then all of a sudden you have pay big time fees?
This don't sounds fair to me?

they are most likely not going to have to pay anything on their balance.

Worst case it would be 0.1% per year which is almost nothing.
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January 29, 2016, 11:35:26 PM
 #27

Can you imagine if even a small portion of Chinese people start to buy BTC?

Yep Bitcoin will spike, as the flow of Chinese convert CNY into BTC, as means of converting to USD....then as the Capital Flightees notice that their aggregate interest in using BTC to get CNY into USD is pushing Bitcoin up, they may hang around BTC for a while instead of converting right away to USD, this will cause a fast n steady rise, which will encourage yet more capital into Bitcoin, for no other reason than looking to ride the bubble....

.....then some 'negative news event' will hit, and the Capital Flightees will rush to exit BTC and into USD, the momentum chasers will look to cover themselves asap....retard holders will hodl, Bitcoin will crash monstrously, but what comes down at a tremendous pace must surely bounce back up at an almost as tremendous pace, etc etc....same thing we seen time and time before.

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January 30, 2016, 02:45:39 AM
 #28

This is why I got into bitcoin.  Coming to the US soon too.  I'll never pay a bank to hold my money.

Beware: I am 99% sure that IF neg interest rates are coming, any US institution (Coinbase, itbit, Kraken) will subtract those rates from your bitcoin held there.
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January 30, 2016, 03:11:47 AM
 #29

This is why I got into bitcoin.  Coming to the US soon too.  I'll never pay a bank to hold my money.
i just recently heard about the negative interest rates, i dont understand how they expect people to pay to "invest" their money. why would someone pay to hold their money.
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January 30, 2016, 03:16:51 AM
 #30


i just recently heard about the negative interest rates, i dont understand how they expect people to pay to "invest" their money. why would someone pay to hold their money.

Most people are too dim to think outside the box. And to be fair the alternatives aren't that appetising for your average personage. Cash at home is going to make you sweat. Gold's too volatile and hard to buy and sell. And most people don't have any money anyway. As soon as it's in the bank it goes straight out again.

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January 30, 2016, 04:35:26 AM
 #31

This is why I got into bitcoin.  Coming to the US soon too.  I'll never pay a bank to hold my money.
i just recently heard about the negative interest rates, i dont understand how they expect people to pay to "invest" their money. why would someone pay to hold their money.

This is a 'nudge' from the central bank to take your money out and invest it in the real economy.
If you don't have the appetite, take it out and stuff it under your pillow.
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January 30, 2016, 08:09:09 AM
 #32

Wow can they do that? I mean suppose you got a big savings account there, then all of a sudden you have pay big time fees?
This don't sounds fair to me?

they are most likely not going to have to pay anything on their balance.

Worst case it would be 0.1% per year which is almost nothing.

well it depend on the amount, if i have 1M sitting o the bank, 0.1% is quite a big amount(1k per year)

maybe that my retirement and i need to pay to the 1k per year for nothing, why? utterly stupid, i would remove all my funds from their bank
Herbert2020
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January 30, 2016, 11:03:39 AM
 #33

Wow can they do that? I mean suppose you got a big savings account there, then all of a sudden you have pay big time fees?
This don't sounds fair to me?

they are most likely not going to have to pay anything on their balance.

Worst case it would be 0.1% per year which is almost nothing.

well it depend on the amount, if i have 1M sitting o the bank, 0.1% is quite a big amount(1k per year)

maybe that my retirement and i need to pay to the 1k per year for nothing, why? utterly stupid, i would remove all my funds from their bank

nobody who has 1 mil is going to let it sit in the bank. there are a lot of businesses that people can start with 1 mil and earn way more than 0.1% annually.

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January 30, 2016, 12:54:35 PM
 #34

Wow can they do that? I mean suppose you got a big savings account there, then all of a sudden you have pay big time fees?
This don't sounds fair to me?

they are most likely not going to have to pay anything on their balance.

Worst case it would be 0.1% per year which is almost nothing.

well it depend on the amount, if i have 1M sitting o the bank, 0.1% is quite a big amount(1k per year)

maybe that my retirement and i need to pay to the 1k per year for nothing, why? utterly stupid, i would remove all my funds from their bank

nobody who has 1 mil is going to let it sit in the bank. there are a lot of businesses that people can start with 1 mil and earn way more than 0.1% annually.

those business are even more risky, this maybe was true in the past, not so much with the current crisis, personally i would not invest my whole retirement in anything that is risky

here i'm not talking about someone being rich that can throw at will 1m like nothing for an investment... i'm taling about a man with his retirement, that 1M is everything he have until he will die
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January 30, 2016, 12:56:36 PM
 #35

This is why I got into bitcoin.  Coming to the US soon too.  I'll never pay a bank to hold my money.

also in other country take the money in a bank cost more than the advantage did you get Wink

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January 30, 2016, 01:05:16 PM
 #36

Same here. I will not pay a bank to hold my money. I'd rather buy a safecase and store my money inside. To be honest, I will not look into Bitcoin unless I only have a small amount of money. Simply because Bitcoin is unstable.

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January 30, 2016, 01:21:50 PM
 #37

It's not so shocking.   This has been the norm in Japan for the last 20 years.  I'm sure they have had negative interest rates already within that period.   Negative interest rates will cause corporations who currently hold cash balances to invest in something and help to spur the economy.

ZIRP is actually NIRP, so I agree, that is not shocking. It has already happened, if we look at the effective interest rates in the US and all European countries. The question is what we are more afraid of in the long-term: a Japan-like 20 year of deflation or (hyper)-inflation?
In any case Bitcoin is a good alternative to both.

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January 30, 2016, 01:38:32 PM
 #38

Same here. I will not pay a bank to hold my money. I'd rather buy a safecase and store my money inside. To be honest, I will not look into Bitcoin unless I only have a small amount of money. Simply because Bitcoin is unstable.

I am sure negative interest rates won't last for ever.
If the negative interest is lesser than the cost of the safe, people might still prefer the bank.  Smiley


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January 30, 2016, 03:07:26 PM
 #39

This is why I got into bitcoin.  Coming to the US soon too.  I'll never pay a bank to hold my money.
i just recently heard about the negative interest rates, i dont understand how they expect people to pay to "invest" their money. why would someone pay to hold their money.

This is a 'nudge' from the central bank to take your money out and invest it in the real economy.
If you don't have the appetite, take it out and stuff it under your pillow.

A nudge to get investors to take riskier bets than they otherwise would.

Selling out to advertisers shows you respect neither yourself nor the rest of us.
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January 30, 2016, 06:40:58 PM
 #40

This is shocking news. Base on what they said, their doing this to hit the 2% inflation target in which it has been at 0.5% at the moment but isn't this a wrong move? IIRC inflation devalues the money and shows a weak economy and their trying to increase inflation instead of decreasing it? Have I missed something here? Although this would be a good opportunity for more market user of BTCitcoin.

Link to news: http://www.theguardian.com/world/2016/jan/29/bank-of-japan-shocks-markets-by-adopting-negative-interest-rates
Link to live news: http://www.theguardian.com/business/live/2016/jan/29/volatile-trading-bank-japan-negative-rates-live

Economy is always about tradeoffs. If your national currency gets stronger, importing will be easier. If you import a lot your local industry will be hurt, they will be less incentivized to produce and, hence, your economy will stuck (lower production + higher unemployment rates).

This is all about perspective. I am sure there are dozens of countries were inflation is 5%+ and banks barely pay 1% annual interest. People are losing way more money there, yet they are not afraid, because they ignore inflation. And even if they are aware, what can they do? Most people do not have enough money to invest nor to start their own business.

Of course you can always store the money by yourself. It is up to you to take the risk for a few bucks (not only to store it, but to take big sums with you when necessary).

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