The Phaserl


Introducing the latest country that PAYS you to BORROW money

from Sovereign Man:

While all eyes were on Greece this weekend, one of the largest banks in Lithuania quietly posted an awkward announcement to its customers.

Interest rates are now negative.

So negative, in fact, that the bank actually has to pay interest to some of its borrowers.

And the bank was totally unprepared for this.

Apparently some meaningful percentage of the bank’s loans are on variable interest.

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