QUESTION: Mr. Armstrong –
Is today (June 5th 2014) the first time in history that negative interest rates have been imposed by a central bank (or similar authority)?
I don’t recall from your writings. I know that you’ve written that the current student debt situation has never been encountered before.
I have a feeling that today is a very significant milestone.
ANSWER: Yes. Rates have dipped negative on a bid during a crisis in the open market. But this is the first “official” negative rate by a central bank.