European Central Bank Sets Negative Interest on Deposits Less Than 1 Week After Bilderberg Conference
The Bilderberg conference ended less than a week ago and now the European Central Bank (ECB) has set negative interest rates on deposits (0.1%). Here are a few articles on it:
- Draghi Takes ECB Deposit Rate Negative in Historic Move
- Bitcoin Price Turns Upwards with European Banking Negative Interest
- ECB imposes negative interest rate
- European Central Bank Institutes Negative Interest Rate
Coincidence? Well, for the negative interest rates to be set up, I’d imagine it would take them longer than 1 week. However, I wouldn’t be surprised if they had prepared it, taken it to Bilderberg and talked it over there to mitigate the sticker shock for keeping savings in the bank.
The amount of deposits by EU banks at the ECB is around EUR 29 billion (as pointed out by the Economic Policy Journal – link #4 above) while the Fed has trillions (#4).
So the question is whether or not this is simply a small, dry-run of negative interest rates on deposits to see if it will run under the radar well enough to implement on a larger scale, e.g. at the Fed or at commercial banks. We’ll see.
But either way, conspiracy or not, or dry-run or not, this is a seismic shift in the methodology and manner of flow of money through the banking system.
The practical side of this is that it now costs money to save money. i.e. It’s like having a paper cup with a hole in the bottom; if you’re thirsty, you’d better drink fast. Or in other words, the banksters are trying to destroy your ability to save.
Did you still need a reason to buy bitcoins? This is it. Get some of your money into bitcoins, because that is what the banksters can’t steal.
And that, kids, is what we call watching history in the making… (Not all history is good…)