Reuters has reported that Yellen told a House of Representatives committee when testifying before Congress: “Potentially anything – including negative interest rates – would be on the table. But we would have to study carefully how they would work here in the U.S. context.”
Yellen may have been placating Congress for negative rates would wipe out the elderly entirely. They have failed to work in Europe in the slightest.
Negative interest rates are not working in Europe. Even in Switzerland, hoarding of cash is becoming a national pass-time. This entire idea demonstrates that those who would be king, do not understand even how the economy functions.
We are back to Thomas Paine’s Common Sense that inspired the American Revolution. He explained that government was evil because it operates from a NEGATIVE perspective to always PUNISH the people. This is the only way those in government ever perceive their power – it is always to demand and punish, never to work with society to comprehend what the problem might be.
Taxes are too high and the standard of living has declined. Those in power will ONLY raise taxes because they are incapable of reform. The year 2017 will cross the Rubicon. The inflation they are desperately trying to create will arrive, but not in the form they desire.
So I could have 11,000 in a checking account that now pays….er….costs me 1.0% to leave in the bank. I take out all the money but only 6,000 one day and then 5,000 the next week.
A bank employee drops a dime as a ” suspicious ” withdraw from the account.
Masked military gunman storm my house at odark:30 to serve the warrant. My wife is up with a sick cat and is shot dead because in the dark a cat looks like a gun.
I run out of the bedroom with a .357 and am shot down. In the 3 seconds of life I have left I make 3 headshots. This is proof of guilt.
Mile long procession for the hero first responders. Even our parents are to scared to claim our bodies
Hey at least I know……….
JIMSKI,
See what you get for having 11,000 in the bank to start with?
In the real world the way to do this safely is to establish several accounts with smaller amounts in each and set a pattern of withdrawing a thousand or less on a regular basis so withdrawals don’t alert anyone of unusual activity.
BTW, take the cat to the vet.
So, Marty is sticking with his 2017 doom date even after his October 2015 doom date was a bust? What’s the doom date after 2017 comes and goes with nothing happening of major consequence and the Dow at 20,000?
Shorter Yellen:
“Were gonna follow the
Yurps.
Many programs became welfare programs:
Student Loans
SS Disability Payments for the Non-Disabled coming off Unemployment
who still can’t find a job
TSA- Make Work Terrorists
** Even this Sham- (Earned Income Credit) IRS- Pay nothing in and get a refund of 8K
Does this really show a .001% who may actually have a heart ? Maybe
TPTB have worked in hidden “lifelines” to many things that may appear unfair on the surface. Should they just let people starve?
Oops….Posted above post in wrong thread.
I’m going to agree with Lysander. I saw that in his post immediately, just didn’t have time to make a post until now.
Previous Armstrong posts indicated the Doom Date was 2015.75
Now, this article says we’re crossing the Rubicon in 2017.
As Lysander says, he keeps moving the date back when his models are wrong.
Either that, or Armstrong is using some trickery of word play to make it seem as if he wasn’t wrong, when he really was.
Funny thing…. negative interest rates and bank bail – ins equals the same thing!! Just a different name. The beauty of negative interest rates, is that it affects ALL customers who have a savings account, no matter how much money is in there for every month that passes!!. Even the kid with a paper route down the street gets slammed.
A bank bail in usually nails the wealthy one time ….. well because….”they can afford it” while leaving the rest untouched. It’s a “I’m OK Jack” attitude with the rest of the customers, and is considered palatable. It’s for the good of the bank after all that the rest of us get to keep our…. er “their” money intact.
Like JIMSKI above……. if you decide to leave your wealth in the bank, it will be confiscated. If you withdraw it from the bank, it will get reported!!
TPTB don’t need a Federal Budget with real limits and no CBO Audits, no Federal Reserve Audits, no gold in Ft Knox, no income tax, no Middle Class Goy with jobs and any money, don’t need any banks other than the Big NYC Banks, don’t need no stinking Constitution and laws that apply to them, won’t need no paper currency once everyone is chipped. What difference does it make when they create the money and own the POTUS, SCOTUS, Congress, MIC/Pentagon, NSA, IRS, CIA/FBI/FEMA, MSM, etc?
I think that if the so called TPTB don’t do what they are doing , the actual people in each individual country will decide they don’t need their overlords as such since they really only provide what can mostly be provided thru your own endeavors. And of course ,if this is true TPTB wont get their grift that supports them alone.
@ rhs jr…Exactly goddamn right. That’s the beauty of a criminal organization on top of the heap. Who can stop them? And the other powerful nations are right there along side of them, just a collection of mafia families, some bigger then others, but all on the same page.