Tom McKay

Perhaps Yellen fancies negative rates. Erik Townsend, a commodities trader, recently attended a conference where Janet Yellen presented. She said if there was anything she could do to figure out a way to make interest rates negative, she would. What we need to do is to make credit as easy as possible. Townsend asked the obvious question that no one else was asking. What about savers and investors, Doesn't that punish them? She said we're coming to the point where we have to consider the role of people who have significant savings and their responsibility to society. It's selfish to be hoarding it and that we need government incentives to encourage people to spend their savings in order to rejuvenate the economy. Long live free money. Read more: (VIEW LINK)


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