Put another way, in place of receiving interest on deposits BNYM will charge 0.13% for the luxury of them taking your deposits; the first commercial bank to do so, but likely not the last.
So, if one is receiving negative rates, why not just withdraw the funds in cash?
To start, there just is not enough cash about for that to happen on a large scale. In the UK roughly 3% of all the money in the economy is physically available in coins and notes.
So what about some other asset that could replace cash?
Obviously gold is the answer, but will the central banksters allow that to happen? Billions/ Trillions of unused money stored in bullion?
We think not.
The likely hood is that bullion will be taxed to extremes, maybe as high as 90%.
The problem, as regular readers know, is that our savings and investments are needed to boost the economy. If we do not want to "risk" our savings, THEY will force us to.
There is only one asset, a secret currency that will survive, and whether you own it will decide just how you survive the next ten or twenty years.
Call us today and join the millions of collectors that know that it is Old Gold or No Gold.
+44 12 6872 5001 or UK Freephone 08000 751 693.
