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Negative interest rates:
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<blockquote data-quote="ProDave" data-source="post: 490242" data-attributes="member: 6969"><p>If negative interest rates do happen here, then the working man with only modest savings will be able to draw his savings in cash and put them somewhere safe to avoid paying interest to store them in a bank,</p><p></p><p>It is the Rich, with £millions who won't be able to do that and will be stuck paying interest. But I guess they will just move it offshore.</p><p></p><p>I too can't understand how the building society model would work. In theory they would collect interest from their savers and pay it to their borrowers, except there won't be people queuing up to put money into a building society so they may not have many savers paying them interest. </p></blockquote><p></p>
[QUOTE="ProDave, post: 490242, member: 6969"] If negative interest rates do happen here, then the working man with only modest savings will be able to draw his savings in cash and put them somewhere safe to avoid paying interest to store them in a bank, It is the Rich, with £millions who won't be able to do that and will be stuck paying interest. But I guess they will just move it offshore. I too can't understand how the building society model would work. In theory they would collect interest from their savers and pay it to their borrowers, except there won't be people queuing up to put money into a building society so they may not have many savers paying them interest. [/QUOTE]
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