"We have been silent witnesses of evil deeds; we have been drenched by many storms; we have learnt the arts of equivocation and pretence; experience has made us suspicious of others and kept us from being truthful and open; intolerable conflicts have worn us down and even made us cynical.
Are we still of any use? What we shall need is not geniuses, or cynics, or misanthropes, or clever tacticians, but plain, honest, and straightforward men. Will our inward power of resistance be strong enough, and our honesty with ourselves remorseless enough, for us to find our way back to simplicity and straightforwardness?”
― Dietrich Bonhoeffer, Letters and Papers from Prison
Negative interest rates are a stealthy confiscation of wealth and of savings from those who are less equipped to protect themselves against it.
The policy makers seek to compel people out of their savings and any safe havens, and into the unreformed paper asset markets of Wall Street, so they can be sheared and then slaughtered.
Have a pleasant weekend.
