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The number of German banks charging negative interest rates has been rising rapidly. At least 41 banks now charge negative interest rates on deposits. According to reports, seven of them are imposing negative interest rates even for small deposit amounts. Also read: Survey: 58% of German Banks Charge Negative Interest Rates 41 Banks Charging Negative […]
The post 41 German Banks Now Charge Negative Interest Rates appeared first on Bitcoin News.
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U.S. President Donald Trump spoke at the World Economic Forum in Davos, Switzerland Tuesday saying the U.S. and other nations are “forced to compete … with nations that are getting negative rates, something very new.” Trump took direct shots at the U.S. Federal Reserve, claiming they’ve not lowered rates quickly enough. The harsh words echo […]
The post Trump ‘Loves’ Negative Rates and ‘Could Get Used to’ Them, Criticizes Fed at World Economic Forum, China Trade Deal appeared first on Bitcoin News.
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Global debt records were broken in 2019, but that likely won’t be the end of such ominous economic milestones, the Institute of International Finance (IIF) predicts. The number could reach $257 trillion sometime in Q1 2020, according to a recent report by the group. Economies worldwide are struggling to address pressing issues such as stimulation […]
The post IIF Report Predicts Global Debt Will Reach New All-Time High of $257T in 2020 appeared first on Bitcoin News.
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China’s Hengfeng Bank is set to get a $14.2 billion bailout from both Chinese government and foreign investors. An emergency decree has been approved to bail out southern Italy’s biggest lender, Banca Popular di Bari. Germany continues to struggle with bailout pains, as regional bank Nordlb finds itself now depending on another capital injection. None […]
The post Bailouts From Asia to the EU Signal Recession and Potential Crypto Opportunity appeared first on Bitcoin News.
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A growing number of banks in Germany are charging retail customers negative interest rates, starting with the very first euro deposited into their accounts. At least three German banks are reportedly doing so, with more expected to follow suit in the near future. As the European Central Bank maintains a negative rate policy, more banks […]
The post German Banks Increasingly Charging Retail Clients Negative Interest Rates appeared first on Bitcoin News.
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European Central Bank (ECB) executive board nominee and member of the German Council of Economic Experts, Isabel Schnabel, recently remarked at a European Parliament hearing that “This scapegoating [of the ECB] is extremely dangerous: it may damage the trust in the euro.” Schnabel was speaking out in defense of negative deposit rates being employed as […]
The post ECB Nominee Blames Resistance to Negative Rates on Financial Illiteracy appeared first on Bitcoin News.
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Banks worldwide have announced major job cuts this year. Globally, 75,700 jobs are reportedly being eliminated, with the most recent announcement coming from Italy’s largest bank. Unicredit has become the latest major bank to unveil layoff plans, joining Deutsche Bank, Santander, Commerzbank, HSBC, and more. The negative interest rate environment and slowing economies have forced […]
The post Banks Are Cutting 75,700 Jobs Worldwide appeared first on Bitcoin News.
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Andrew Yang has taken to Twitter in dynamic fashion as of late, advertising his universal basic income (UBI) proposal known as the “Freedom Dividend.” While throwing money at people out of pocket always generates a buzz, there’s a mathematically and ethically broken side to the plan few are talking about. Also Read: Do You Know […]
The post Andrew Yang’s ‘Freedom Dividend’ Is Not Only Unnecessary, It’s Unethical appeared first on Bitcoin News.
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Newly installed European Central Bank President Christine Lagarde made controversial remarks in a recent statement prior to assuming her new role. The former IMF Managing Director implored: “isn’t it true that ultimately we have done the right thing to act in favour of jobs and of growth rather than the protection of savers?” Regarding former […]
The post ECB President: ’We Should Be Happier to Have a Job Than to Have Our Savings Protected’ appeared first on Bitcoin News.
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Negative and zero interest rate policy (NIRP and ZIRP) are becoming a new global norm. Endless printing of paper money is said to make economies stronger, while everyday individuals are seeing their savings worth less and less. These policies were traditionally viewed as last ditch, temporary measures to save economies, but are now increasingly being […]
The post Do You Know the Newspeak of the Looming ‘NIRP’ Economic Meltdown? appeared first on Bitcoin News.
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