It sort of underlines the MADNESS of what is going on ... that the Big Banks are seriously considering this - i.e. paying people to borrow money on a large scale ( mortgages ).
It sort of proves that " Currency grows on Trees, while Money doesn't " ..... i.e. Paper versus Gold.
http://www.mmnews.de/index.php/wirtschaft/42556-negativzinsen
Negative interest rates on mortgages? |
04/19/2015 |
The European Central Bank (ECB) policy states the interest rate situation in Germany on the head. Soon the Germans from their bank could get money for it if they go into debt about to buy a house, the newspaper reported "Welt am Sonntag".
Instead of having to pay interest on borrowing, they would receive a bonus.In Germany, the institutions are preparing for such a scenario with adverse credit interest, such as a survey of newspaper under the large institutions found. "Negative interest rates are possible on both the investment and on the credit side," said Frank Kohler, Chief Executive at the Sparda Bank Berlin, told the newspaper.
Currently, such a system still sprinkle the limits of his imagination, although had already been continually enhanced through the events of the past eight years. "In my opinion, can be serious as well as a development with adverse credit interest not rule any longer." Expressed similar chairman of the KfW banking group. "We must prepare for this situation," Ulrich Schröder said.
IT systems and accounting would be prepared for this negative interest rate scenario. The bankers also work in private institutions with high pressure."We just are in a process of discovery to understand what could happen," said an employee of a major bank credit.
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