Thought I would post some positive news :) U.S. Banks to charge for deposits

[iluvpie60]

http://www.infowars.com/economist-u-s-banks-preparing-to-charge-customers-for-deposits/

interesting read

"""In the week that the European Central Bank cut its deposit rate for banks from zero to -0.1%, economist Martin Armstrong warns that negative interest rates are coming to the United States, meaning that Americans will be forced to pay just to keep their money in the bank.

In a move described as unprecedented, the ECB became the first central bank in history to cut any main interest rate to negative yesterday, part of a package of measures designed to encourage banks to provide more loans to businesses and households. Many view the policy as a desperate sign of Europe’s faltering economic recovery.

Critics claim that the action will do little to spur growth while threatening to cause inflation and unemployment. While banks in the EU have not indicated whether or not the costs will be passed on to consumers, the New York Times’ Neil Irwin asserts that this is inevitable.

“Banks will most likely pass these negative interest rates on to consumers, or at least try to. They may try to do so not by explicitly charging a negative interest rate, but by paying no interest and charging a fee for account maintenance,” he writes.

What about Americans? Will they also soon be charged by the bank simply for depositing their own money? Yes, according to economist Martin Armstrong.

Armstrong, who is noted for calling the 1987 economic crash to the very day, warns that U.S. banks are preparing a raft of new account fees that will serve as a de facto negative interest rate.

“In the USA, we are more-likely-than-not going to get the negative rates directly passed to consumers by the banks who will claim it is the Fed who will do so at the requests of the banks. Larry Summers has set the stage. This is just how it works. He flew the balloon to get everyone ready. This is likely to be bullish for the stock market,” writes Armstrong, noting that, “The talk behind the curtain is to impose negative interest rates on the consumer.”"""

[jc01480]

Just read this on Digg.  I'll tell you this.  This is a +1 for crypto.  Last time BofA tried something like this they lost thousands of customers.  This will be one huge nail in modern banking as people like me (us) look to shelter our deposits in something other than traditional banks.  Coinbase should explore some payroll deposit options as they'll likely become the new place to hold funds.

[iluvpie60]

Just read this on Digg.  I'll tell you this.  This is a +1 for crypto.  Last time BofA tried something like this they lost thousands of customers.  This will be one huge nail in modern banking as people like me (us) look to shelter our deposits in something other than traditional banks.  Coinbase should explore some payroll deposit options as they'll likely become the new place to hold funds.

I agree seriously. I actually opened an account with Bank of America because they were said to be ok on Bitcoin transactions(this is something I did half a year ago). I never made any deposits or anything, then they send me a notice saying I am overdrawn. I didn't even do anything with the account I setup and they are trying to make me pay a fee. I am just going to ignore it forever. I could care less about their bs.

[RepublicSpace]

Ger your popcorns ready -- it will be interesting how this plays out.

[niothor]

Again infowars and their fud?
What are we discussing next , the showbiz section of dailymail ?

[iluvpie60]

Again infowars and their fud?
What are we discussing next , the showbiz section of dailymail ?

Just curious, do you actually know anything? If you paid any attention to the developments in taxes, stocks, and banking in general you would understand what is happening in the United States.

You seem like the type of person who is actually so dumb they can't create an account, so I have to wonder, did someone type this for you on their account?

Just REALLY curious is all.

I let it be known my extreme distaste for fools, especially when I have knowledge on the exact topic being discussed. It seems you like to come in and bomb random threads and just say negative things which is your right, but it is also my right to call you a fool for spreading bs. The majority of people I talk to about these types of things couldn't tell you anything about it, but for you to claim it is "fucked up disinformation" let me see you prove me wrong. It is extremely crystal clear that banking is charging fees and giving .1% interest on monies in an account in the U.S.

So you basically just came here to make yourself look stupid then? I didn't think a Sr. member would be all about making a fool of themselves, but to each his/her own.

[commandrix]

Moral of the story? Ask your employer to pay you in your cryptocurrency of choice. It'll be cheaper for you and they'll get a +1 for supporting the currency of the future.

[niothor]

Again infowars and their fud?
What are we discussing next , the showbiz section of dailymail ?

Just curious, do you actually know anything? If you paid any attention to the developments in taxes, stocks, and banking in general you would understand what is happening in the United States.

You seem like the type of person who is actually so dumb they can't create an account, so I have to wonder, did someone type this for you on their account?

Just REALLY curious is all.

I let it be known my extreme distaste for fools, especially when I have knowledge on the exact topic being discussed. It seems you like to come in and bomb random threads and just say negative things which is your right, but it is also my right to call you a fool for spreading bs. The majority of people I talk to about these types of things couldn't tell you anything about it, but for you to claim it is "fucked up disinformation" let me see you prove me wrong. It is extremely crystal clear that banking is charging fees and giving .1% interest on monies in an account in the U.S.

So you basically just came here to make yourself look stupid then? I didn't think a Sr. member would be all about making a fool of themselves, but to each his/her own.

You know what blog you're quoting there?
If there are more than 10 members here that daily read that blog and who actually believe a word that is written there I really think it's a good time to say by to this community.

You're quoting a propaganda blog , known for twisting fact , publishing fud and lies repeatedly.

Also , I would really love to see you editing your post.
Personal insults? Don't you have a value argument that you need to resort to this ?

That guy accuses everything tat is happening in this world of being a nsa or cia conspiracy.

http://www.dailypaul.com/133480/fake-photo-deleted-from-infowars-no-apology-or-explanation-given-where-are-the-ethics

Or another example of infowars propaganda:
http://www.infowars.com/breaking-us-army-trains-for-martial-law-in-us/
Oh really


Rather than reading infowars where it chops only the parts he like from the news read the original:
http://www.nytimes.com/2014/06/05/upshot/europe-likely-to-get-negative-interest-rates-what-does-that-even-mean.html?_r=0

You see that it happened before and .. nobody rushed to buy the forks , not even bothered to withdraw their money .

Or do you really enjoy spreading fud ?

[Swordsoffreedom]

Well I guess that means people will need to start supporting the economy at least that's what the banking system thinks.
On the other hand I see this as an opportunity that Bitcoin can use to get people to start creating industries around it
Anyways believe the EU is doing it if the US does it is a different question as niothor pointed out

[Chef Ramsay]

I have to agree that infowars has a record for over-sensationalizing things just to drive mania. However, they're usually on to things before they come to pass but they are in the fear mongering business and sell survival type stuff. Their chief, Alex Jones, has a radio show that you can tune into if you want a wild ride.

[iluvpie60]

Again infowars and their fud?
What are we discussing next , the showbiz section of dailymail ?

Just curious, do you actually know anything? If you paid any attention to the developments in taxes, stocks, and banking in general you would understand what is happening in the United States.

You seem like the type of person who is actually so dumb they can't create an account, so I have to wonder, did someone type this for you on their account?

Just REALLY curious is all.

I let it be known my extreme distaste for fools, especially when I have knowledge on the exact topic being discussed. It seems you like to come in and bomb random threads and just say negative things which is your right, but it is also my right to call you a fool for spreading bs. The majority of people I talk to about these types of things couldn't tell you anything about it, but for you to claim it is "fucked up disinformation" let me see you prove me wrong. It is extremely crystal clear that banking is charging fees and giving .1% interest on monies in an account in the U.S.

So you basically just came here to make yourself look stupid then? I didn't think a Sr. member would be all about making a fool of themselves, but to each his/her own.

You know what blog you're quoting there?
If there are more than 10 members here that daily read that blog and who actually believe a word that is written there I really think it's a good time to say by to this community.

You're quoting a propaganda blog , known for twisting fact , publishing fud and lies repeatedly.

Also , I would really love to see you editing your post.
Personal insults? Don't you have a value argument that you need to resort to this ?

That guy accuses everything tat is happening in this world of being a nsa or cia conspiracy.

http://www.dailypaul.com/133480/fake-photo-deleted-from-infowars-no-apology-or-explanation-given-where-are-the-ethics

Or another example of infowars propaganda:
http://www.infowars.com/breaking-us-army-trains-for-martial-law-in-us/
Oh really


Rather than reading infowars where it chops only the parts he like from the news read the original:
http://www.nytimes.com/2014/06/05/upshot/europe-likely-to-get-negative-interest-rates-what-does-that-even-mean.html?_r=0

You see that it happened before and .. nobody rushed to buy the forks , not even bothered to withdraw their money .

Or do you really enjoy spreading fud ?

I have listened to many radio/talk shows and watched many a news program. Alex Jones plays to a certain type of person and has a certain type of genre, it doesn't mean that everything he says or reports is wrong. That is your fallacy.

I wouldn't make a bold sweeping statement saying that everything the Democrat biased media reports is false, although they certainly have their own way of twisting things. Give me a break, there IS NO MEDIA OUTLET YOU CAN GO TO THAT DOES NOT HAVE A BIAS.

Hence why I call you a fool for quoting a NYTIMES article and claiming it is "better than an infowars article". One article may express the details and the terms better, but Alex Jones overall for the most part is spot on with a lot of the things he says/reports on. You might not like how it is done but he isn't exactly someone who is always lying. Sorry you can't strip away the emotion? Idk what to say really.

[RiverBoatBTC]

Alex Jones ate paint chips a kid plain and simple. He is nothing more the a fear monger, that takes a fact adds his spin on it and spreads it as the truth.

[iluvpie60]

Alex Jones ate paint chips a kid plain and simple. He is nothing more the a fear monger, that takes a fact adds his spin on it and spreads it as the truth.

Says the scammer who is trying to get people to pay him for "information on other people". And before you Google my name on here, it is tied to a bunch of other things, but I am not that actual person, I usually choose other peoples screen names/similar emails

Good luck.

[RiverBoatBTC]

Wow cause I said alex jones eats paint chips I am a scam lol

Go back to watching that mush you tardo. 

[freedomno1]

Chase bank has a zero percent interest rate in the savings account, well almost zero.
So in my opinion there is a precedent in the US for this
If You Put $250 in a Chase "Savings Account," You'll Get 12.5 Cents in Yearly Interest -- And Maybe Charged $4 a Month
http://www.truth-out.org/buzzflash/commentary/if-you-put-250-in-a-chase-savings-account-you-ll-get-2-5-cents-in-yearly-interest-and-maybe-charged-4-a-month/18083-if-you-put-250-in-a-chase-savings-account-you-ll-get-2-5-cents-in-yearly-interest-and-maybe-charged-4-a-month

Or to compare rates with other banks
http://www.savingsaccounts.com/bank-review/chase-online-banking

[niothor]

Hence why I call you a fool for quoting a NYTIMES article and claiming it is "better than an infowars article". One article may express the details and the terms better, but Alex Jones overall for the most part is spot on with a lot of the things he says/reports on. You might not like how it is done but he isn't exactly someone who is always lying. Sorry you can't strip away the emotion? Idk what to say really.

And I call you a  ****** on this....
The article on the nytimes was the base for his claims , he even copy pasted a paragraph.

“Banks will most likely pass these negative interest rates on to consumers, or at least try to. They may try to do so not by explicitly charging a negative interest rate, but by paying no interest and charging a fee for account maintenance,” he writes.

He quoted the first paragraph but he purposely let the other slide in order to spread fud.

"On the other hand, if the interest rate is only slightly negative, banks may just eat the loss in order to avoid alienating customers. If they do that, however, it will cut into bank profitability."

It like saying " 30 victims in car crash" omitting  "none of them received serious injuries"


Besides you have already seen what other people on this board think about the fudwars blog...

[RiverBoatBTC]

BTW those names are you it took me a couple of minutes of digging to link your posts here with the games you play to the game accounts you have. So you might want to be a little bit more careful when saying things like that.


And your really slow for this one google that shit 14WdFc3z2yMGuaf4bDVJLSuW6v2g6sgr3w
Lets see what all accounts it come up with..... Mr. Gray

[RiverBoatBTC]

I also must say you are the most begging mofo I have ever seen in my life on youtube....

[Ron~Popeil]

Infowars stuff aside this is all ready happening. The poor in the US all ready pay a premium for access to the banking system. It is just a matter of time until the rest of us have the same issue.

[bryant.coleman]

I don't think that negative interest rates are viable for the major banks. That will destroy their short term holdings, as people would rather keep money in their hands or in the form of bonds, FD.etc.