Taxing Bank Deposits.................from Rico

So far, we have descended from ZIRP to NIRP as fiat currency suffers from the global failure of Central Bank policies.

- Of course, both zero-interest rates and negative-interest rates were meant to make saving so painful that consumers would have no choice but to take out 'affordable' massive loans (which they could never hope to repay) in order to be.....well, consumers [read: buy stuff they don't need with money they don't have] to juice the economy.

 

Now watch for governments to get into the act.

 

Australia is looking at a TAX on bank DEPOSITS as part of its May budget. This idea is coming to a government near you next.

- If you liked NIRP (paying a bank for the privilege of holding your money) you will absolutely LOVE paying a government for the privilege of putting your money into a bank.

 

How long before some genius figures out that taxing bank withdrawals would also be a good idea?