Get this.
http://www.zerohedge.com/news/2015-05-04/why-powers-be-are-pushing-cashless-society
http://www.zerohedge.com/news/2015-05-04/war-cash-australia-leads-new-age-economic-totalitarianism
And this is exactly why bitcoin has bright future ahead. Which will be attempted to extinguishing by totalitarian states that grew to be.
Topic: Swiss negative interests on deposits and swiss pension funds (Read 730 times)
I wonder how far this will spread? At least there is a 1000 swiss franc note, so if it spreads to individuals they have some hope of pulling their money out of the bank and holding it somewhere else.
Negative interest rates are not unusual. It's a feature used a lot by segregated funds.
A bank run by the pension fund 
All those large institutions will eventually understand that banks do not have any money in their pocket, what they have is just some numbers in their database, just like MTGOX. That's the essential of FRB, but I guess those pension fund managers have no idea about it
All those large institutions will eventually understand that banks do not have any money in their pocket, what they have is just some numbers in their database, just like MTGOX. That's the essential of FRB, but I guess those pension fund managers have no idea about it
It's easy to scam people on pensions because they are forced by law to put their money on these funds, so it's like a combination of a savings account and a tax. Now if you scam them and take part of their savings they can't do anything as the money belonged to the government this whole time. It's just one big fraud where you are told it's your money but you have no control over it.
Well Switzerland imposed negative rates because it wants to weaken its currency, the franc, by penalising banks who hold deposits. It also hopes to push up inflation. Now I'm no saying that this is actually a good idea, but it seemed to work in 70s. We're in a different situation now, really.
On one hand i'm kind of scared of the shenanigans that come with fall of world currencies. But seeing such stupid unfolding as pointed out by Forbes and ZH, it just make me say "Oh, lets just get it over with" to myself.
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Why are Swiss pension funds being treated like that?
Because they represent the big money. And big money can't be let away evading interest rates, since imposing them than loses its sense.Quote
I think it boils down to have institutional players with adequate regulatory framework for those with deep pockets to move into BTC. But once that happens, look out, especially if things continue with these bizarro-world banking crises.
Yes, indeed! I think we're on the same page here.On one hand i'm kind of scared of the shenanigans that come with fall of world currencies. But seeing such stupid unfolding as pointed out by Forbes and ZH, it just make me say "Oh, lets just get it over with" to myself.
Where can I get a Swiss bank Acc online ?
Despite the learning curve, I'm fairly amazed people are not moving more into bitcoin. I think it boils down to have institutional players with adequate regulatory framework for those with deep pockets to move into BTC. But once that happens, look out, especially if things continue with these bizarro-world banking crises.
As we know, the SNB has imposed negative interest rates.
Swiss pension fund now cannot withdraw physical money -> they have to pay negative interests to the banks.
Legalised robbery, if you ask me.
http://www.forbes.com/sites/francescoppola/2015/04/25/the-swiss-have-eliminated-the-zero-lower-bound/
The facts are right in front of us; its just a matter of time before bitcoin will be mature enough tool to be used for circumventing that kind of state - enforced robbery. Please comment!
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