By Dr Paul Craig Roberts
N TERRORISM
Central banks, neoliberal economists, and the
presstitute financial media advocate negative
interest rates in order to force people to spend
instead of save. The notion is that the economy’s
poor economic performance is not due to the
failure of economic policy but to people hoarding
their money. The Federal Reserve and its coterie
of economists and presstitutes maintain the fiction
of too much savings despite the publication of
the Federal Reserve’s own report that 52% of
Americans cannot raise $400 without selling
personal possessions or borrowing the money.
Negative interest rates, which have been introduced in some countries such as Switzerland and
threatened in other countries, have caused people
to avoid the tax on bank deposits by withdrawing
their savings from banks in large denomination
bills. In Switzerland, for example, demand for
the 1,000 franc bill (about $1,000) has increased
TheSovereignVoice.Org