If ZIRP were not bad enough, here comes NIRP! At times, the world seems to be going crazy. The British said that the “World had turned upside down” when the American colonists defeated them in the American Revolutionary War. Now, capitalism has established a Negative Interest Rate Policy (NIRP) in some nations.
“All that is wrong with ZIRP”
Free money from “helicopters” sure sounds good, but there is a serious problem with this monetary strategy: nothing is free. Did you know that Wikipedia even has a page called “Helicopter Money?” Has the world lost its mind?
Furthermore, have you ever received any of this “helicopter money?” Probably not. In fact, the average citizen is given the bill and the wealthy ne’er-do-well bankers get the free money. The problem is that the money is not free, the money is from the taxpayers, but most of them don’t understand.
“NIRP is sheer absurdity”
Sweden, Switzerland and Japan have fallen into the next trap: NIRP. Not only do they NOT pay you for your capital, but they actually charge you a fee. This is actually the Anti-Capitalist answer. Some might have called it Communism, but the Capitalists call it NIRP.
Why should anyone get out of bed? In America, some people are doing as little as is humanly possible. Some Americans are becoming so obese, that they need fork lifts to remove them from their bedrooms.
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Midas Legacy Real Estate Expert Jim Samson is on record for calling the 2006 Economic Collapse. Midas Legacy Financial Expert Sean Bower combines journalist expertise with financial knowledge to remind patrons of the lingering dangers from 2008.
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