You’ve heard a lot in recent years about ‘negative interest rates’.
The idea is simple.
Instead of the bank paying you interest on money you have in the bank, you pay the bank for holding your money.
Normally, if you put $100,000 in the bank and it has a 2% interest rate, then at the end of one year, you have $102,000 in your account.
But if the bank has an interest rate of negative 2%, then you put $100,000 in the bank and come back a year later to find $98,000 in the account. The bank took $2,000 (or 2%) as a ‘negative interest rate’.
Who would leave money in the bank on those terms?
Stuck in the system
The simple solution is to pull your money out of the bank and put it in a safe place. At least that way, you’ll still have $100,000 a year later, not $98,000.
The proponents of negative interest rates — such as the IMF, academics and central banks — understand this.
That’s why they want to eliminate physical cash and force everyone into digital accounts at the banks.
That way, you can’t withdraw the money in physical form and stash it away.
You’re stuck in the bank, where negative interest rates will eventually confiscate all of your money (unless you do what the government and Wall Street want, which is to buy government debt and approved stocks).
The elite monetary institutions are not even trying to hide this play.
Hiding in plain sight
On the official IMF website, the authors lay out a ‘how to’ plan for negative rates. Getting rid of cash is an easy way to do this.
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