Dutch Rabobank prepares for negative interest rates on savings

http://www.rtlnieuws.nl/economie/home/bij-rabobank-mogelijk-betalen-om-te-sparen

This article is in Dutch. The gist of it is that while improving their infrastructure, the Rabobank also added the requirement for their systems to be able to handle negative interest rates on savings of their clients. At the same time they try to reassure the reader that the odds of that happening is negligible. Makes me wonder then why they are spending money to make it possible. :wink:

We’re living in crazy times, I’m getting the feeling that anything can happen these days. Quantitative Easing, massive devaluations (Deutsche Bank expects EUR/USD to reach 0.85 in 2017), the issue with Greece, zero and even negative interest rate policies, collapse of the oil market, the civil war in Ukraine… Any combination of these may seriously destabilise our economies and cause things like bank runs, capital controls and shameless theft of private property by governments and/or banks.

I now consider my modest stash of MaidSafeCoins to be my most valuable material possession. Most other things can be taken from me relatively easily (like my place), or become worthless in a matter of weeks (my fiat currency).

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These negative interest rates can’t be a money making proposition by the banks but rather an attempt to prevent the paradox of thrift which supposedly helped sink the Japanese economy. Without stuff like SAFE what would people be doing? Buying gold or putting cash under the pillow? Negative interest rates sound like an invitation to crime.

This also to me signal societies that over value profit. We need to think carefully about the contribution of profit and where there is no solid pro society contribution simply block profit. So many of these collapses and crises could be stopped if profit for the rich were demoted to last place in every consideration. But more and more from the rich all we hear is about how they should be able to directly molest people with their money. Every bit of nonsense about money is speech comes down to the rich wanting to be able to abuse power with money and pay to abuse people generally. That stuff needs to lead to their prison terms not to a means for them to increase power. We need to radically, in real terms, deescalate the coercive power of capital. The rich seem to want a Thai like society where people sell their children to be able to eat. We need a much smarter group of elites and recycling of the current crop.

Indeed. And anything WILL happen.

Me too I happen the same as Seneca, and if I think spending, not when but what I am sure is to go from a dictatorship to a global democracy without social revolutions occurring seems very difficult, not only Maidsafe is a dying economy, you are trying to launch the free energy that is no longer just ideas crazy if all ultimately comes grassroots instability of all this will cause major clashes which I hope does not degenerate into open warfare, I think that what we are experiencing now is little if Maidsafe and free energies come to light.

We are on the verge of an historic global change and nothing will be as it was before, hopefully not very traumatic, the old and to resist his death and the new will not want to remain the same as always.