Swiss bank group lambasts negative rates for damaging the economy

Bloomberg/Catherine Bosley/9-12-2019

“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.

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