Skip to comments.Sweden cuts rates below zero as global currency wars spread
Posted on 02/12/2015 3:34:09 PM PST by NRx
Sweden has cut interest rates below zero and launched quantitative easing to fight deflation, becoming the latest Scandinavian state to join Europes escalating currency wars.
The Riksbank caught markets by surprise, reducing the benchmark lending rate to minus 0.10pc and unveiled its first asset purchases, vowing to take further action at any time to stop the country falling into a deflationary trap. The bank presented the move as precautionary step due to rising risks of a poorer outcome abroad and the crisis in Greece.
Janet Henry from HSBC said the measures are clearly a beggar-thy neighbour manoeuvre to weaken the krone, the latest such action in a global currency war that does little to tackle the deeper problem of deficient world demand.
(Excerpt) Read more at telegraph.co.uk ...
Sweden isn’t part of the Euro.
One of the knocks on precious metals is that they don’t pay interest or dividends. Negative interest rates make that argument less valid.
Freepers, what’s the over/under on when an FDR type gold secure will be proposed and implemented?
I meant seizure, not secure....damned adaptive typing...
Never understood this claim. You're increasing the cost of your imports, like oil, and decreasing the value you earn from your exports.
Sounds like "beggar yourself".
Think of it as a "going out of business" sale.
All: Russia started this.
Russia didn’t devalue their currency, the market did.
Once you take the rates to Zero there are no more bullets in the gun and you got to start printing money to try and keep up.
You are entitled to your opinion.
rather than having money in the Sweedish bank is gold in a vault
Any freepers here ever own any gold or silver bars?
How easy are they to ‘cash out’
I happened to inherit a bunch of silver 10 oz. bars, about 200 oz. total, i think.
They are individually wrapped in plastic- are they exchangeable for currency easily?
Lead is a more versatile currency....
At the rate things are going it is your best bet, though you can use silver to kill vampires and werewolves....
Primarily at coin dealers who deal with bars / bullion.
200 oz x $15/oz = approx $3k.
IMHO, you should trade them in for an honest exchange in junk silver coins.
Those are easier to barter with when the SHTF and silver & gold go to high values.
I don’t really know, but I would imagine you would have little problem now. The potential problem comes if the dollar fails dramatically and the government decides to reconstitute it’s gold reserves by seizing private holdings.
It is this easy:
Walk in, walk out. About ten minutes.
I took a loss at the time when i held a gold bar but cashing it was easy. I had purchased it from a bank that specialized in precious metals and cashed it in with them as well.
Russia started what, exactly?
Hmmm...yes, indeed...what is...Oh! I know: what is the subject of the article?
In your opinion, what was the peg over the last year?
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