The Federal Reserve bank and its owners, the largest banks on Wall Street, want badly to be able to charge you interest for the privilege of depositing your funds. The problem is getting you to stand for it.
Depositors already complain vigorously about zero percent returns on checking and savings accounts. If they must start actually paying the bank to hold funds on deposit, many will opt to simply withdraw the cash and stuff it under their mattress or into a safe deposit box. That simply won’t do.
The Goal Is to Force You to Deposit Cash and Charge You Interest
Bankers in the U.S. can learn something from the Swiss. The Swiss National Bank recently implemented negative interest rates without first solving the “problem” of how to prevent cash from fleeing the banks. Predictably, depositors started doing some math.
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