When I grew up I was taught about the miracle of compound interest. The new generation will have to be taught about the anti-miracle of compound negative interest.https://twitter.com/maxkeiser/status/1155501079758626816 …
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It’s worse than that though. Some interest rates are actually negative at face value, meaning you lose twice.
Indeed, this is a great deal more in-you-face blatant than the inflation tax, and made possible only where people store their cash in a digitally centralized manner that can be easily manipulated by strangers (i.e. bank and brokerage accounts).
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Or when new cash is issuable whenever the issuer feels like it. Central bank interest rates can be anything they want, since the difference between what is and what isn’t can just be conjured into existence.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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