#1
The US is at 0.25.
The UK at 0.50.
Japan at 0.1.

The Eurozone was like "lol phaaaggiiiits".

So if you have money in a savings account you...lose money.

....wat

http://www.telegraph.co.uk/finance/financialcrisis/10463513/Euro-plummets-as-ECB-mulls-negative-deposit-rate.html


EDIT: Can someone in the States offer me a room for me to live in during the impending crisis that is looming over here? I make good eggs.

Please respond.
#2
Aaaaaaaaaaaaaaaaaaaaaaaaand it's gone



but seriously, what the ****.
dirtbag ballet by the bins down the alley
as i walk through the chalet of the shadow of death
everything that you've come to expect


#3
...
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#4
I don't think that this applies to the average person.
^^The above is a Cryptic Metaphor^^


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#5
Yeah, this would be for banks and shit. The interest rates for customers will be different.
Or this is the real inflation rate rather than the nominal - which just means the interest rate won't cover inflation.

Otherwise I'd be able to borrow money and they'd have to pay me interest lol.
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cats
#6
Someone smart needs to come in here and explain what this is in terms a five year old could understand.
#7
Quote by mulefish
Yeah, this would be for banks and shit. The interest rates for customers will be different.
Or this is the real inflation rate rather than the nominal - which just means the interest rate won't cover inflation.

Otherwise I'd be able to borrow money and they'd have to pay me interest lol.


I'm seriously wondering how the hell it would work. What if you wanna take out a mortgage? I know in bank in Germany you get 0.1% until a certain amount you put in, then you get 0.05%.

Quote by Baby Joel
Someone smart needs to come in here and explain what this is in terms a five year old could understand.


I'm 32% retarded, so my answer may not be 100% correct, but I can provide some info.

Basically, deflation has been happening in some areas of southern Europe (decreasing prices), which may sound good, but it's actually really bad because it means the debt from this massive debt crisis is going to be even harder to pay back.

So the European Central Bank is penalizing anyone who keeps money in the bank to promote spending money instead of having it "rot in a bank account".

That may make sense, but the mega rich mother****ers who dildoed everyone in the ass have their money hidden in Switzerland or other off-shore accounts. So, in essence, the normal folk are being dildoed again.
Last edited by Philip_pepper at Nov 20, 2013,
#8
'urope
Most of the important things


in the world have been accomplished


by people who have kept on


trying when there seemed to be no hope at all
#9
There have actually been talks in numerous European countries about seizing a percentage of every bank account in the country.. That's one of the main reasons bitcoin is so ridiculous now.
#10
Quote by progdude93
There have actually been talks in numerous European countries about seizing a percentage of every bank account in the country.. That's one of the main reasons bitcoin is so ridiculous now.


It already happened in Cyprus.

Anyone who kept more than 100,000 euros in their bank account got any amount above 100,000 stolen by the government.

Thing is, ok, Cyprus is a shitey little island in Europe that nobody gives a wet shit for, but if they did it there, who is to say they won't do it anywhere else? We know they CAN do it if they wished to.
#12
Quote by Philip_pepper


EDIT: Can someone in the States offer me a room for me to live in during the impending crisis that is looming over here? I make good eggs.

Please respond.


Scrambled, please.
ಥ_ಥ
#15
tip: only read the guardian or bbc.co.uk
dirtbag ballet by the bins down the alley
as i walk through the chalet of the shadow of death
everything that you've come to expect


#16
Quote by Philip_pepper

EDIT: Can someone in the States offer me a room for me to live in during the impending crisis that is looming over here?

Absolutely not.

http://www.youtube.com/watch?v=U_gypoaf-Bc

...modes and scales are still useless.


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#17
lol eurofags
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my fetish is dudes with dicks small enough to pee on their own sacks.
#21
Quote by Nelshizzle
'urope

I don't think that works quite the same
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#22
Inflation money economy 'n shit.


Am I doin this r8?
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Wake up people!
#23
Well a negative interest rate means that the central bank puts money into the economy, which is what the Federal Reserve has been doing for some time now.

ron666
#26
Quote by ron666
Well a negative interest rate means that the central bank puts money into the economy, which is what the Federal Reserve has been doing for some time now.

ron666

Astute observation
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