CombatEffective - Where has my country gone? - Coming soon to a bank near you...negative interest rates!!

Coming soon to a bank near you...negative interest rates!!

Saturday, 23 May 2009

In which you are penalized for having money in the bank. Nice. (/sarcasm)

Comments (5)

... : TRex

Interesting article. Actually, this author has done quite a few good achedemic papers. Somewhat unusual for a magazine writer.

But that is just what it is. All achedemic. The government has printed so much money lately that inflation, not deflation, is the next thing right down the road. (Here is counterpoint, from a college staffer. Obviously, I ultimately disagree with his analysis.)

May 23, 2009 :: 05:21AM

... : dw : http://www.combateffective.us/

A little OT but just last night my grandson asked me about where money comes from. He wanted me to buy something for him at the store and I refused and it smehow got him thinking. I didn't know what to say or really understand it myself. I told him that money is made by and belongs to the Government and we only get to use it. But we can keep it for a long time (save) if we want to. It's value and quanity is regulated and it is against the law to deface or destroy it on purpose. I explained that taxes must be paid on all money we get and spend. Like a fee for the priviledge of using it. Even if he, a litle kid opened up a lemonade stand and made a few dollars he is supposed to pay taxes on it. (was I too radical in my explaination)

LOL No problem. He lost interest before I was fone talking. But if I offered him aten spot to let me finish he would have accepted. smilies/cheesy.gif

May 23, 2009 :: 08:47AM

a little too radical : TRex

And way too much of a liberal bend.
Some part of your mind has been suckered.
Money does not come from the govenment.
They only print and coin stuff that represents money.
Money comes from working.
Especially for a youngster - it is important to
make the connection between money and work.

I guess the real problem is that we don't address this kind of elementary stuff often enough. Somehow the liberals are the ones makeing the children's books for preschool and kindergarden. The real Americans need to start addressing these things with our grandkids, or they will be lost into the mess that the rest of the world is in.

TRex

May 26, 2009 :: 01:37AM

re: suckered mind : combatrob_on_the_move

Posting of the link does not necessarily (and in this case specifically) imply endorsement. I forgot to include the tag at the end of the "Nice".

I would argue that money does actually come from the gov't. What we own is our labor that we can exchange for said money, or for barter for in kind services. A small distinction, perhaps, but a profound one.

I think the negative interest rates are an interesting, but terrible, idea. The run it would cause on banks as people (myself included) withdrew everything they had would be massive. Even if the gov't said it would not effect personal savings, I'd still pull everything out.

May 26, 2009 :: 04:14AM

... : dw

I kind of think Rex has a point. I should have just equated money with labor, honesty and earning it. Can't believe I didn't see that.

May 26, 2009 :: 11:28PM

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