Posted on 04/24/2021 8:18:07 PM PDT by SeekAndFind
Because Americans are not saving, our federal government has had to pay out trillions in Covid “relief”.
The monthly Hills Road Mortgage Association mortgage meeting is called to order.
Potential Mortgagor One: I have a two-bedroom house at 308 assessed at $210,000. I need to refinance the $96,000 I owe as cheaply as possible. Bids please.
Bidder One: $20,000 at 2% for five years, HRMA terms.
Bidder Two: $30,000 at 2% for five years, HRMA terms.
Bidder Nine: $30,000 at 1.8% for five years, HRMA terms.
Mortgagor: I will be taking bids 6 through 9. Thank you!
Potential Mortgagor Two: I have....
....
Thank you for attending and lending. Same time next month!
“after everyone buys...a new laptop”
With a new laptop, I would have to rent Word from Microsoft.
It means that regular people will start money laundering.
You’ll probably just pay the fee on all 4 accounts. We don’t know what the threshold is or would be for storing ‘large’ deposits. It could be $5k for instance.
Or use LibreOffice or Apache OpenOffice.
Wait until the banks pull a Cyprus and start bailins.
Will we see a swing here, in the States, towards inflation to the extent of spurring higher interest rates?
https://www.youtube.com/watch?v=SGYVWrjRMXU. Watch. Eventually, the currency that those in charge give to you is worthless to them, instead... they demand something of “actual” VALUE. We are already there. Take some tin-snips and cut open a penny, a nickel, quarter. If you find any copper, nickle or silver. It is ALL yours! The paper... As though it is a different concept.
“Barter”
Sounds like the stupid policies are catching up to their logical conclusions. The question is whether they will figure it out and back out of the stupidity or simply go off the cliff.
My bet is off the cliff right now.
if they have that much
they have enough for a very secure and hideable safe
“You’ll have to pay the bank to store your money.”
Oh, I’ll just stack it up and sit on it with a shotgun across my lap.
So what does it mean?
————-
It means a few things, the worst is the move to a cashless digital system. Secondly, be aware negative interest rates were introduced in the EU years ago, they pulled from circulation large denomination bills so you could not easily accumulate cash ( TPTB hate cash)...put huge taxes on gold and silver.....thirdly, Bidens Fed Reserve and Treasury picks support negative interest rates but as inflation has ramped up ( it is rising rapidly) it is suicidal to push it in an inflationary environment ( we are already losing about 12 percent a year in inflation and USD index purchasing power).
Perhaps you should read Revelation.
So would you suggest I stash some paper cash, gold and silver in my gun safe?
.
Ping
So what does it mean?
A lot of things. Here’s a select few:
1) Given the choice of (Trump, Reagan) lower taxes and less regulation or monetary tomfoolery to get a moribund economy moving again, the Euroweenies have predictably chosen the latter.
2) The concept that lower interest rates will encourage economic activity has been taken to idiotic extremes where interest rates are negative. A person who has taken a mortgage actually gets paid a little each month, offsetting their monthly payment to a degree. On a 300,000 Euro, 30 year loan it’s about 45 Euro per month (as per a recent Wall Street Journal article).
3) The negative interest rate government bonds (you get back less than you put in at the end of the term) make US barely positive bonds look great in comparison. That has been holding down our interest rates on the open market.
4) This situation will not last.
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