The large Swiss bank UBS has just announced a new pricing system, which lowers the threshold for applying negative rates from 500,000 to 250,000 francs.
UBS will therefore tax its clients with sums exceeding 250,000 francs, who will henceforth be charged a fee of 0.75% for the franc or 0.6% for the euro per year.
The rate is therefore negative by 0.75% or 0.60% if you hold the euro in your bank account.
“UBS specifies that it does not intend to” apply negative interest to small savers or companies of modest size. ” But this new regulation “can evolve if necessary”, underlined the establishment “…
Clear ? If the situation requires it, yes, UBS reserves the right to tax “small” accounts as well, and here again you are in a gradual and iterative process.
Nobody says anything, so think having 500,000 Swiss francs or euros in your account must be rich! Serves them right. I wouldn’t pity them! Then today it is 250,000 francs. That’s still a lot of money 250,000 Swiss francs. We can still cry out to the rich!
Then it will be 100,000 francs, then it will end at 10,000 francs and also 10,000 euros.
In Switzerland as in the euro zone.
And do you know why ?
Because negative rates literally mean that your savings are no longer worth anything!
Classically, the surpluses of some make the loans of others, traditionally the savings of some, finance the credits of others and the price of this savings is set by the money supply and the demand for money from economic actors!
In our new world, central banks finance banks that ask at will or almost at will at negative rates.
Our savings are therefore of no use to the banks.
On the contrary, our savings become a problem that “costs” the banks.
Big Reset, austerity, or negative rates?
On Monday I told you in my video of the newscast of the attic of the great hesitation between the big reset and an austerity policy advocated in particular by Mario Draghi in his report.
Let’s take this a step further today.
The only way to make an austerity policy a little more bearable would be to go further with negative rates and implement “deeply” negative interest rates in the economy. Everything is ready. Everything has already been planned and I invite you to watch or review these two complementary videos to feed your thoughts.
It is already too late, but all is not lost. Prepare yourselves !