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Author Topic: Is Europe running a scam with their new Negative Interest Rate for the EURO?  (Read 976 times)
Actor_Tom_Truong
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June 08, 2014, 01:35:09 PM
 #1

Is Europe running a new world wide scam with their new Negative Interest Rate for the EURO?
http://www.nytimes.com/2014/06/05/upshot/europe-likely-to-get-negative-interest-rates-what-does-that-even-mean.html?_r=1

http://www.cryptocoinsnews.com/news/ecb-announces-negative-interest-rates-bitcoin-price-rallies/2014/06/05


What do you think?
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blatchcorn
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June 08, 2014, 01:37:39 PM
 #2

Sounds like a ponzi scheme to me.  How can the money be real if it is not backed by anything? I have also heard euros can be stolen and used to buy drugs.  I want nothing to do with fiat.

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June 08, 2014, 01:45:04 PM
 #3

Sounds like a ponzi scheme to me.  How can the money be real if it is not backed by anything? I have also heard euros can be stolen and used to buy drugs.  I want nothing to do with fiat.



Those pesky Euros, they will be worth $0.01 within six months - Professor Bitcorn assures me.
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June 08, 2014, 02:14:26 PM
 #4

Europe banks are afraid to lend money to companies. Only way to force them. If money stays in banks and not go to companies, that holds back economic growth. Half of Europe had not recovered from 2008, or barely come to that ratio. You can say the rest of world passed Europe lots, or maybe Europe got herself ready fro next crisis.

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June 08, 2014, 02:23:00 PM
 #5

All fiat currency is a scam.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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June 08, 2014, 03:19:00 PM
 #6

Fiat kills.

Ron~Popeil
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June 08, 2014, 04:01:12 PM
 #7

Sounds like a ponzi scheme to me.  How can the money be real if it is not backed by anything? I have also heard euros can be stolen and used to buy drugs.  I want nothing to do with fiat.

It is just a pump and dump shit currency. They just changed the name of the US dollar without any innovation.  Cool

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June 08, 2014, 08:06:12 PM
 #8

It has written SCAM all over it  Wink
Even the name for the coin (EURO) is stupid Cheesy
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June 09, 2014, 12:16:42 AM
 #9

The euro is problematic, at best, but this seems more of an effort to stimulate their economies than some kind of "scam."
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June 09, 2014, 12:48:38 AM
 #10

$Fiat favors asset holders and the reality is everything is already owned these days, except for state / crown land.  $Fiat essentially facilitates generational wealth.
 

There ain't no Revolution like a NEMolution.  The only solution is Bitcoin's dissolution! NEM!
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June 09, 2014, 01:16:46 AM
 #11

I don't get what the big deal is, banks over here charge you so many fees that you never come out on top.  They're just being more upfront about it Undecided

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June 09, 2014, 02:02:30 AM
 #12

The euro is problematic, at best, but this seems more of an effort to stimulate their economies than some kind of "scam."

Interest rates send very real signals into the market, basically telling investors & entrepreneurs that money is cheap because people are flush. They then start borrowing this money from banks to spend on long-term projects like real estate that will likely not pan out because the economy was actually shit and nobody really has any money.
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June 09, 2014, 04:08:11 AM
 #13

The Danish Central Bank had imposed a negative interest rate on deposits two years ago, although they abandoned it only after a few months. I don't know much of the details, but it was a failed experiment.


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niothor
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June 09, 2014, 07:01:18 PM
 #14

The Danish Central Bank had imposed a negative interest rate on deposits two years ago, although they abandoned it only after a few months. I don't know much of the details, but it was a failed experiment.

No it wasn't The move achieved it's target and there was no bank run and no pitchforks in the streets.


Quote
Impact on the foreign exchange market and capital inflows The most direct effect of lowering the deposit rate below zero was the depreciation of exchange rate, which reached the central parity shortly. Hence, the introduction of negative interest rates can be seen as a successful experience in the Danish case, which aimed at restoring the central parity of the EUR/DKK exchange rate. Also, the developments of foreign exchange reserves held by the central bank suggest that capital inflows have stopped from mid-2012 onwards


Full article:

http://www.mindfulmoney.co.uk/wp/shaun-richards/what-has-the-experience-of-denmark-taught-us-about-negative-interest-rates/

And the conclusion:

Summary Overall, the negative deposit rate introduced by Danmarks Nationalbank in July 2012 was successful in limiting capital inflows and helped to push back the exchange rate of the Danish krone toward the central parity. Therefore, the adoption of the negative deposit rate was helpful in reaching the major objectives of its introduction. Moreover, while money market rates and treasury bill yields were already negative before the introduction of the negative DNB rate, after its introduction, these yields fell slightly further and yields on mortgage bonds also stabilised at a very low level. The evidence suggests that the rate cut did not lead to changes in retail interest rates, nor an increase in bank lending. With the normalisation of euro-area financial markets, the DNB could increase the deposit rate from -0.2 percent to -0.1 percent in January 2013 and to +0.05 percent in April 2014.


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ajareselde
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June 10, 2014, 12:06:42 AM
 #15

Just when u thought u understand kapitalism ..
they rip you off with credit loans if youre poor or mid-class , they rip you off if ure not.
you have to admire them ; 1% controling 99%, while theyre playing golf
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June 10, 2014, 04:35:24 AM
 #16

Just when u thought u understand kapitalism ..
they rip you off with credit loans if youre poor or mid-class , they rip you off if ure not.
you have to admire them ; 1% controling 99%, while theyre playing golf


no such thing as poor or middle class.  Just the working people and then the elites.  The 'middle class' person is a job termination, illness or injury away from being impoverish himself.  

A lot of people found that out in 2008 recession, this forced many families onto the streets, downsize and/or or to give up their kids.

There ain't no Revolution like a NEMolution.  The only solution is Bitcoin's dissolution! NEM!
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