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670

Banks told to prepare for negative rates

Bank of England leaves "door ajar" for a sub-zero move and gives lenders six months to prepare their IT systems

You have been bent over, now spread them.

Banks told to prepare for negative rates Bank of England leaves "door ajar" for a sub-zero move and gives lenders six months to prepare their IT systems You have been bent over, now spread them.

(post is archived)

[–] 2 pts

What they will do is limit your ability to take cash out. You already have certain limits to what you can get out of a bank machine but they may start to lower that per day limit from $1,000 to then $500 and then $100 as the 'crisis' gets worst by the week. So you either spend that stuff or lose it. Hard for companies who may keep a good amount in a bank account at one time. Maybe not so hard for the public who will end up only using banks to cash the pay check and then spend the next 5 days in line at the bank machine trying to get it out. Then watch the machine run out of money.

[–] 0 pt

That is why I invest in the stonks of the week.