02/21/2016 - Jim Rickards: Here Is Where Negative Interest Rate Policy (NIRP) Leads To
“The currency wars are intensifying. Out of desperation, more central banks, including Japan, are running headlong into negative interest rate policy, or ‘NIRP’ .. Negative interest rate policy by the world’s central banks is getting out of control .. Central banks want inflation, but negative rates feed deflationary expectations. This causes consumers to hold onto cash in the expectation that goods will get even cheaper .. Stress is rising throughout the global financial market as investors start questioning the negative consequences of central bank policies. Who knows what lies at the end of NIRP policy — or even if it’s reversible? .. The real reason is the power elite want to abolish currency so they can force everyone into the digital bank system .. Paper money must be abolished before the elite plan can be implemented. This forces you into the digital bank system .. Once everyone is forced into the banks, it’s easy to impose negative interest rates to confiscate your money. Getting savers into digital accounts is like rounding up cattle for the slaughter. For now, it’s just talk by the Fed. But they’re getting you used to the idea now so they can impose a negative interest rate hidden tax in 2017 or 2018.”
