Swiss bank group lambasts negative rates for damaging the economy
“The Swiss Bankers Association criticized the central bank’s policy of negative rates, saying it was causing ‘massive structural damage’ to the economy.”
USAGOLD note: This article lends support to the notion (mentioned often here) that as economies trend toward and/or breach 0% to the downside, we sail deeper and deeper into uncharted waters. Unexpected and unintended consequeces abound. . . .We might add that there is a clearly established direct, positive correlation between the growing inventory of negative yielding debt globally and the price of gold.