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AUDIOBLOG #150 – IT’S OFFICIAL, CENTRAL BANKS ARE DEAD – AND HERE’S THE REAL END GAME…

by Andrew Hoffman, Miles Franklin:

Miles Franklin is anything but an ordinary gold and silver coin company. Our approach provides a creative strategy for diversifying one’s assets with precious metals. This strategy has been yielding positive results for clients nationwide since 1989. Miles Franklin was founded by David and Andrew Schectman. Our vision was to offer a wide variety of bullion and numismatic products, extensive …

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1 comment to AUDIOBLOG #150 – IT’S OFFICIAL, CENTRAL BANKS ARE DEAD – AND HERE’S THE REAL END GAME…

  • rich

    Negative Rates for the People Arrive as German Bank Gives In

    German cooperative sets -0.4% rate on funds over EU100,000
    Move comes two weeks after ECB says no risk of cash hoarding

    When the European Central Bank introduced a negative interest rate on lenders’ deposits two years ago, few thought things would ever go this far.

    This week, a German cooperative savings bank in the Bavarian village of Gmund am Tegernsee — population 5,767 — said it’ll start charging retail customers to hold their cash. From September, for savings in excess of 100,000 euros ($111,710), the community’s Raiffeisen bank will take back 0.4 percent. That’s a direct pass through of the current level of the ECB’s negative deposit rate.

    “With our business clients there’s been a negative rate for quite some time, so why should it be any different for private individuals with big balances?,” Josef Paul, a board member of the bank, said by phone on Thursday. “As it looks today, charges on deposits won’t be extended to customers with lower amounts” than 100,000 euros, he said.

    http://www.bloomberg.com//news/articles/2016-08-11/negative-rates-for-the-people-arrive-as-german-bank-gives-in

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