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Negative interest rates:
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<blockquote data-quote="ProDave" data-source="post: 490215" data-attributes="member: 6969"><p>I am sure we discussed this before (or was it somewhere else)</p><p></p><p>It is already a reality in Denmark. You can get a mortgage that pays YOU and to keep savings they charge you.</p><p></p><p>Knowing how the Brittish do things, as soon as the banks announce negative rates, everyone would go and withdraw their savings and put it under the bed, That would be the ultimate run on a bank? Safe deposit boxes would soon be in high demand and burglary would become more common if people generally kept their life savings at home.</p><p></p><p>Quite what happens when the next recession starts. That is when rates go down to stimulate growth, only they never went back up in the last "boom" so -ve rates here we come.</p><p></p><p>So, if I can go to the bank and get a loan that pays me interest, why would you not, even if you don't want the money? Borrow £1m keep it safe (deposit box) so you can repay the "loan" and the interest should be a substantial income?</p><p></p><p>There is just so much about it that makes the mind boggle.</p></blockquote><p></p>
[QUOTE="ProDave, post: 490215, member: 6969"] I am sure we discussed this before (or was it somewhere else) It is already a reality in Denmark. You can get a mortgage that pays YOU and to keep savings they charge you. Knowing how the Brittish do things, as soon as the banks announce negative rates, everyone would go and withdraw their savings and put it under the bed, That would be the ultimate run on a bank? Safe deposit boxes would soon be in high demand and burglary would become more common if people generally kept their life savings at home. Quite what happens when the next recession starts. That is when rates go down to stimulate growth, only they never went back up in the last "boom" so -ve rates here we come. So, if I can go to the bank and get a loan that pays me interest, why would you not, even if you don't want the money? Borrow £1m keep it safe (deposit box) so you can repay the "loan" and the interest should be a substantial income? There is just so much about it that makes the mind boggle. [/QUOTE]
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