Are You Ready To Pay The Bank To Have Your Money Deposited There?

Common Sense Commentary: This sort of thing comes about as a result of faulty decisions on the part of Congress, the President and the appointed Federal Reserve System. The two strongest factors which keep Americans from resisting Government takeover of all of our Constitutional Rights are, (1) The phenomenon of Normalcy Bias. This common, human failure to recognize serious, even fatal, developing situations is due to people's expectation for long standing, unchanging realities to remain the same ... forever. In other words, "If I have never seen a thing happen before, it never will happen". If a thing is outside the realm of what is normal, for me, I am hard to convince that it is happening. That is Normalcy Bias. (2) Fear of government itself. It is surprising how many people will caution you about saying anything critical of government, politicians or this administration. A lot of people are afraid of "getting on a blacklist" or "drawing attention to yourself" or "being audited by the IRS". When that sort of thing becomes common it is reason enough to speak out against the rascals even louder. If there is any hope of saving our Constitutional freedoms, silence is the worst thing we can do. If you think speaking out is dangerous ... silence will buy you an even more disastrous result... tyranny.  RB



The man who trades freedom for security does not deserve 
nor will he ever receive either. – Benjamin Franklin

 From InfoWars.com

by PAUL JOSEPH WATSON | JUNE 6, 2014

In the week that the European Central Bank cut its deposit rate for banks from zero to -0.1%, economist Martin Armstrong warns that negative interest rates are coming to the United States, meaning that Americans will be forced to pay just to keep their money in the bank.

In a move described as unprecedented, the ECB became the first central bank in history to cut any main interest rate to negative yesterday, part of a package of measures designed to encourage banks to provide more loans to businesses and households. Many view the policy as a desperate sign of Europe’s faltering economic recovery.

Critics claim that the action will do little to spur growth while threatening to cause inflation and unemployment. While banks in the EU have not indicated whether or not the costs will be passed on to consumers, the New York Times’ Neil Irwin asserts that this is inevitable.

“Banks will most likely pass these negative interest rates on to consumers, or at least try to. They may try to do so not by explicitly charging a negative interest rate, but by paying no interest and charging a fee for account maintenance,” he writes.

What about Americans? Will they also soon be charged by the bank simply for depositing their own money? Yes, according to economist Martin Armstrong.

Armstrong, who is noted for calling the 1987 economic crash to the very day, warns that U.S. banks are preparing a raft of new account fees that will serve as a de facto negative interest rate.

“In the USA, we are more-likely-than-not going to get the negative rates directly passed to consumers by the banks who will claim it is the Fed who will do so at the requests of the banks. Larry Summers has set the stage. This is just how it works. He flew the balloon to get everyone ready. This is likely to be bullish for the stock market,” writes Armstrong, noting that, “The talk behind the curtain is to impose negative interest rates on the consumer.”