by Martin Armstrong
Bavarian banks have figured out that negative interest rates are
insane. They must pay the ECB to hold their cash. They have decided it
is better to store their cash and eliminate deposits at the ECB as
reported by Spiegel Online.
These people are just braindead. They think negative interest rates
will somehow “stimulate” the economy. No, they fail to grasp that people
and banks can now be induced to just hoard money and not spend it.