Posted Mar 6, 2016 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. These people are just brain dead. They think negative interest rates will somehow “stimulate” the economy. They fail to grasp that people and banks can now be induced to hoard money and not spend it.