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[Silver]

Well...They still have the option to go to negative rates. If they do, expect the demonization of cash to get ramped up 10 fold.

Negative interest rates are another Fed intervention, and once again, all that it does is create more money and credit.

The fed can't dictate what banks pay to savers; they are limited to setting the interest rates for deposits at the fed, and they buy and sell treasury bills to drive the market rates up and down. 

In Europe, where several central banks are using negative rates, the banks have NOT imposed negative rates on savers.  That would certainly drive customers away.  So bank profits are squeezed a bit, and banks are even more vulnerable than they were before negative rates.

Negative interest rates for banks are a tool to create money and credit.  The negative rate is supposed to provide an incentive for banks to lend instead of holding reserves, since they have to pay to hold those reserves at the fed.

But when a bank lends money, it creates it from thin air.  Typically they lend out 9 or 10 times as much as they have on deposit.  That's why I say that negative rates, like every other evil act of the evil fed, is just another mechanism for creating money.

Peace,

Silver

[DiabloLoco]

Well...They still have the option to go to negative rates. If they do, expect the demonization of cash to get ramped up 10 fold.

Negative interest rates are another Fed intervention, and once again, all that it does is create more money and credit.

The fed can't dictate what banks pay to savers; they are limited to setting the interest rates for deposits at the fed, and they buy and sell treasury bills to drive the market rates up and down. 

In Europe, where several central banks are using negative rates, the banks have NOT imposed negative rates on savers.  That would certainly drive customers away.  So bank profits are squeezed a bit, and banks are even more vulnerable than they were before negative rates.

Negative interest rates for banks are a tool to create money and credit.  The negative rate is supposed to provide an incentive for banks to lend instead of holding reserves, since they have to pay to hold those reserves at the fed.

But when a bank lends money, it creates it from thin air.  Typically they lend out 9 or 10 times as much as they have on deposit.  That's why I say that negative rates, like every other evil act of the evil fed, is just another mechanism for creating money.

Peace,

Silver

Hmmmm.....Interesting. Thanks for responding.

[MamaLiberty]

The amount of "interest" on either savings or checking accounts here now are microscopic. Far less than the average service charge for checking accounts. Some checking accounts are still "free" to seniors.  Below a certain minimum, there is also a charge for a savings account - flat $1.00 a month. So my savings account was closed many years ago when I was charged that. I wouldn't have a checking account if my pension didn't have to be "direct deposit." But I don't write more than two or three checks a year, and don't keep much of a balance in the bank at any time. And that would shrink fast if they started charging for the account, whether a fee or "negative interest."

[FDD]

I wish someone had told me this about buying and saving silver and gold when I started working.

what I am doing now is taking a little bit out of my pay each week.
right now I buy 1- 1/10 gold round and 5 to 6 silver rounds.

got a nice little stash going, and it does not take to much out of the weekly budget.

just wish I had started sooner.

[Silver]

We all do, but at least we started.

When I was a child, my grandfather would give me silver dollars for my birthday.  One silver dollar for each year of age.  That meant 10 silver dollars when I was ten years old.

I saved them all.  Then, on the advice of my parents, when I was 12 or 13 I opened a bank account and deposited them.  Something like 91 silver dollars.

So I started very early, but threw it all away in my childish ignorance.  Granted, I was encouraged, but still.  It burns to this day.  I've often wondered if my grandfather had any opinion about what I did.

At least I re-discovered real money eventually, and learned the true nature of banks.  Few have.  Talk about one percenters!

Peace,

Silver

[DiabloLoco]

Well.....What everybody suspected has finally been officially verified. The lawsuits have already started! Just goes to show, yesterday's conspiracy theory is today's reality.

Billion Dollar Lawsuits Filed Following Deutsche Bank's Admission Of Gold, Silver Rigging

http://www.zerohedge.com/news/2016-04-16/billion-dollar-lawsuits-filed-following-deutsche-banks-admission-gold-silver-rigging

Barely a day had passed since the historic admission of gold and silver price rigging by Deutsche bank, which as we reported on Thursday was settled with not only "valuable monetary consideration", but Deutsche's "cooperation in pursuing claims" against other members of the cartel, i.e., exposing the manipulation of other cartel members, and the class action lawsuits have begun.

Overnight, two class action lawsuits seeking $1 billion in damages on behalf of Canadian gold and silver investors were launched in the Ontario Superior Court of Justice.

The first class action alleges that the defendants, including The Bank of Nova Scotia, conspired to manipulate prices in the silver market under the guise of the benchmark fixing process, known as the London Silver Fixing, for a fifteen-year period.



An identical class action lawsuit was also launched for gold manipulation.

This is just the tip of the iceberg: with DB's official "admission", countless other plaintiffs will step up, and everyone who may have "lost" money trading gold over the noted 15 year period will surely demand to be made whole.

More importantly, we are curious to see what if anything the discovery process will unveil.  This is what we said on Thursday:

Since this is just one of many lawsuits filed over the past two years in Manhattan federal court in which investors accused banks of conspiring to rig rates or prices in financial and commodities markets, we expect that now that DB has "turned" that much more curious information about precious metals rigging will emerge, and will confirm what the "bugs" had said all along: that the precious metals market has been rigged all along.

Ok....Now who thinks that anything will change now that it's out in the open? I'm not optimistic.

[FDD]

same old, same old

[FDD]

Well Gold jump up big time.
as did Silver

[Splash22]

"Don't forget the 'Poor Man's Gold' - Silver. For those of us without the huge resources to acquire thousands of dollars of gold, silver is, to my thinking, a reasonable substitute."
YAY!!!!!!!
I've been collecting old "junk silver" quarters from my job and substituting them with the real junk, today's quarters!
Yesterday I came across a 1941 quarter!
~S

[FDD]

"Don't forget the 'Poor Man's Gold' - Silver. For those of us without the huge resources to acquire thousands of dollars of gold, silver is, to my thinking, a reasonable substitute."
YAY!!!!!!!
I've been collecting old "junk silver" quarters from my job and substituting them with the real junk, today's quarters!
Yesterday I came across a 1941 quarter!
~S

The system I use is to take about $300 from each paycheck and buy PM's
1- 1/10 gold
and 5 to 6- 1 oz of silver
it is not much, but to does add up over time.

[DiabloLoco]

Well....The results of "Brexit" are already apparent. Silver and gold have jumped....A LOT.....and the Dow futures are down over 500pts! Holy POOP! This should be an interesting day for the markets. I'd post links and whatnot, but I gotta head to work. More on this later.

[FDD]

WOW, gold is at $1318.00, and silver is at $17.79

[DiabloLoco]

WOW, gold is at $1318.00, and silver is at $17.79

Yup....And all the markets across the globe are down about 3% on average. I have a feeling that the slide will continue on Monday. Hopefully, the surge in metal prices will continue as well.

For me, it was a pretty much "break even" day. What I lost in the markets, I gained in PMs. It's nice to be diversified. You can just shrug the whole thing off. Who cares....