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It's Probably Nothing

By Kate on January 20, 2015 10:35 AM | 13 Comments

Denmark's central bank cuts deposit rate to -0.2%. (h/t Kevin B)

13 Comments

scar | January 20, 2015 11:00 AM | Reply

Deflation? The U.S. would have suffered serious deflation had it not simultaneously inflated by printing outrageous amounts of money also known as quantitative easing. Well they didn't actually print it. They just created it and lent it to themselves. Denmark just forgot to turn on the taps like everyone else.

mark | January 20, 2015 11:41 AM | Reply

I wouldn't say its Nothing, its just reality trying to re-assert itself after six years of ZIRP. I thought that the central banks could keep this fantasy going for a couple more years, oil is probably the only commodity that could have popped the bubble.

TheTooner replied to comment from scar | January 20, 2015 12:07 PM | Reply

Yes, they don't really print money much anymore. They just make it up in cyberspace.

Our currencies are not only not backed by gold, they are not even backed by money anymore.

Oz | January 20, 2015 1:17 PM | Reply

I wonder if the Danes will be selected as the 'Happiest People in the World' next year as they were in 2014?

Do the Danes hold the key to happiness in 2015?
http://www.telegraph.co.uk/news/worldnews/europe/denmark/11316505/Do-the-Danes-hold-the-key-to-happiness-in-2015.html

Money can't buy happiness, but watching your savings evaporate doesn't make for a happy situation.

gellen replied to comment from Oz | January 20, 2015 1:45 PM | Reply

When you are a senior contemplating moving into a retirement home, this is the kind of news that will make someone like myself take the little white pill.
My Facebook Danish friend is definitely not happy.

Littlebones | January 20, 2015 2:08 PM | Reply

Danish thieves will be well advised to check all mattresses and pillow cases.

Knight 99 replied to comment from Littlebones | January 20, 2015 3:08 PM | Reply

"Danish thieves will be well advised to check all mattresses and pillow cases."

First they'll need to convince the banks to give it back. Probably not as easy as one assumes.

Murray | January 20, 2015 4:18 PM | Reply

I keep reading in articles how happy the Danes are in surveys, but these articles never mention that Denmark has the highest per capita rate of anti-depressant use in Europe (apart from Iceland).

Sgt Lejaune | January 20, 2015 5:12 PM | Reply

These "rates", like the Japanese "kubuki theatre rates" are
mostly a polite fiction which resemble a volleyball game
between the busted banks and their prime customer the
government, plus their insider crony capitalist "friends".
All others are invited to raise capital elsewhere, at
"much less advantageous terms".

john robertson | January 20, 2015 9:27 PM | Reply

So what is different from canadian banks?
Every little fee is collected ,added to each and any transaction, with a near zero interest rate paid on deposits as the dollar dives in unison with the hugely inflated USA/Zimbabwe dollar.
The effect is the same, punishment of any persons dumb enough to live within their means,save money and daring to save for their future plans.

Welcome to the Kleptocracy.

Paul in calgary | January 20, 2015 11:16 PM | Reply

Glad i take half of my pay cheque and withdraw it in cash then take half of that and buy silver, guns,ammo,medical supplies, and 25 year shelf life food rations which by the way are friken awesome so good. they have come a long way.

CT replied to comment from gellen | January 21, 2015 7:42 AM | Reply

gellan;
Who are the first to be cast out when times get tough? The unproductive seniors. Some go into the night voluntarily, others have to be helped.

As most countries feed off themselves the Canadian RRSP and the American 401K's must be attracting attention. The rationale for 'attaching' these assets will come in many guises.

sasquatch | January 21, 2015 10:00 AM | Reply

There was a time recently when banks were competing for seniors business with very generous "senior accounts".... to get deposits.

That time has past.

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sasquatch: There was a time recently when banks were competing for read more
CT: gellan; Who are the first to be cast out when read more
Paul in calgary: Glad i take half of my pay cheque and withdraw read more
john robertson: So what is different from canadian banks? Every little fee read more
Sgt Lejaune: These "rates", like the Japanese "kubuki theatre rates" are mostly read more
Murray: I keep reading in articles how happy the Danes are read more
Knight 99: "Danish thieves will be well advised to check all mattresses read more
Littlebones: Danish thieves will be well advised to check all mattresses read more
gellen: When you are a senior contemplating moving into a retirement read more
Oz: I wonder if the Danes will be selected as the read more

It's Probably Nothing

13 Comments