Ex-Credit Suisse CEO calls negative interest rates crazy
“‘Negative interest rates are crazy. That means money is not worth anything anymore,’ Gruebel said in an interview with Swiss newspaper NZZ am Sonntag. ‘As long as we have negative interest rates, the financial industry will continue to shrink.’”
USAGOLD note: Sometimes the most profound insights are stated simply and directly as is the case with Mr. Gruedbel’s comment. Has there been a better characterization of the situation with negative rates?
Repost from 10-7-2019