This will make Wall-Street Billionaires even Richer & will Kill The Dollar
Channel: The Nomad Economist
Date: 2022-04-27

Negative Interest Rates will Kill The Dollar





Negative interest rates will make Wall Street billionaires even richer, allowing them to continue buying up America by devaluing earned income. Americans are dealing with a banker-manipulated "medium of exchange." Negative interest rates are confiscatory. The Globalists are not draining the swamp, and they are swamping the land. If you want an example in the extreme, try Weimar Germany when the vultures flew in and bought up the country — paper money in exchange for everything that was Germany. The term "negative interest rate" is just another polite term for oligarchical confiscation. The central banks of the world, BIS, work in concert. If you want an example of what negative interest rates in the extreme will do, try "New World Order." The last of all, "historical data." Welcome to The Atlantis Report. Christine Lagarde said back in August that the European Central Bank still had room to cut rates if needed. However, she added that this could pose a challenge to financial stability in Europe. More and more banks are passing on the negative interest rates to depositors, and this is undermining the elderly and pensions. From a broader view, this policy of negative interest rates has weakened the euro even as a reserve currency. Nobody wants it in their books. It is like it has the plague. I cannot express how dangerous this policy of negative interest rates has been. It has been the cure to eliminate the euro as a reserve currency. If the US wants to kill the dollar, just adopt negative interest rates and watch how it plummets. I believe you may see Lagarde try to unravel this mess created by Draghi. The most recent adventure in lowering rates is going to cause another housing crisis in the entry-level market. As the rates dropped, idiots are bidding up the entry-level homes way beyond what they are worth, and thus actually increasing their monthly payments, down payments, taxes, and PMI. Prices have jumped 10% before they are being bid up, mortgages are being written at 6 times income, and the appraisers are ignoring home conditions and houses with basements when pulling "comparables." Everyone is ignoring significant problems with these houses, such as roofs that need to be replaced, old HVAC systems, PVC plumbing, and crumbling siding that the buyers will not have the money to fix. I told a guy in the building business that I had never seen it like this before. He said that he had in 2006. Fiat digital US Dollar is created at virtually zero cost on computers, so why should there be any scarcity cost (interest) attached to that? This takes no real work, and almost nothing is actually done. The money supply is created by new lending, and if new credit seems excessive, interest rates are increased. If new loan is no adequate in volume, interest rates are lowered. If needed, the interest rate can go to zero then below to stimulate more private sector credit creation. If more spending is desired, the rates paid on savings accounts are reduced until some of those savings are disgorged into the marketplace to circulate. Deposits are not really required to lend money into existence, and they could actually be abolished as such accounts are really a cost to the business that accepts the deposits, and the USG instructs the Banks that they must accept deposits, so they do. All the money they lend is created out of thin air, and the reserve requirement could be reduced to zero. When the banks get into trouble on paper as in 2008-09, the Fed supplies them with fresh reserves also created out of thin air. The Central banks coordinate credit growth, so whether it's the greenback or something new, I doubt it will curb 244 Trillion in debt plus a mysterious 500 Trillion in derivatives. It's all absorbed or moved around eventually, so for those who hate globalism; I'm afraid that setup has been around for two decades. The only way to realign the concept of value is to bring back lender regulation, which now would taper credit growth gradually over a decade. They had that opportunity after two rounds of QE, but currently the options are limited to trade politics leading to conflict between trading blocs.

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