FED cuts rates to ZERO

originally posted by: Liquesence
All right, I saw this, too, and I have a serious question.

I also read that banks are no longer required to keep a minimum of cash of hand.

If this is true, how is this a good thing, especially if people need or want money, if they not required to keep X amount of cash on hand?

I honestly do not understand.

Wouldn't be able to gauge without a bank run. Cant have one if the country is in a state of diminishing social exposure and quarantine.

Watch for the banks to close because of Covid.

originally posted by: JinMI
a reply to: EternalShadow

This is where I have been focusing my attention, well this and tp jokes.

Were in deep and spending all the way down.

It is clear that the solution is to use currency as TP.

a reply to: Bhadhidar

Well take this into consideration:

At a zero price, savers will save less and receive less return on past savings. Savers and pensioners are penalized. At a near zero price for borrowed funds, investors are being subsidized and will invest in just about anything, leading to many poor investments and negative returns, furthering the economy’s already advanced transition from economic to uneconomic growth. Zero interest promotes an infinite demand for savings with zero new supply. But the “supply” is provided artificially by the Fed printing money.

steadystate.org...

Again, not good at all.

originally posted by: chr0naut

originally posted by: JinMI
a reply to: EternalShadow

This is where I have been focusing my attention, well this and tp jokes.

Were in deep and spending all the way down.

It is clear that the solution is to use currency as TP.

insert debit card at a strip club joke

originally posted by: Bhadhidar
I wonder if this will impact the mortgage and re-finance markets.

I have a very nice 3.75% 30 year fixed rate now, but if I could get below 2.75%, that would be very nice!

I work in mortgages. Rates will probably go down. 30 year rates were around 3% a week ago. I locked in a few 15 year fixed rates at 2.375%.

However, the treasury markets seized up on Thurs/Fri and it pushed 30 year rates to around 4.2% from right at 3% in less than a week.

The fed actually doesn't control mortgage rates. Mortgage rates are driven by mortgage backed securities. The fed will likely be buying up mortgage backed securities to push rates down...

a reply to: Edumakated

Sounds like 2008 with extra steps.

originally posted by: SRPrime

originally posted by: EternalShadow
I'm sitting here speechless.

I've been trying....TRYING to let members here now that yes, the coronavirus is real, however it's just an excuse....the perfect excuse to bring in a back door New World Order.

I should have started a thread for it earlier, but like many threads here that are not Trump related, they just evaporate in the feed never to be seen again. Sad days on this site, but I digress..

I'm not going to bore anyone with charts and market speech, I'm going to explain it as simply as possible.

Back in 2008, the American people bailed out the banks. This time it's ENTIRE industries.

March 13th 2020: FRIDAY YHE 13TH

Steve Mnuchin announces the FED will provide UNLIMITED liquidity to the market.

Good bye capitalism, goodbye freedoms.

NO VOTE, NO DISCUSSION. THEY'RE DOING IT WITH YOUR MONEY.

March 15th 2020:

FED cuts the federal funds rate to ZERO and is pumping in another 700 BILLION VIRTUAL DOLLARS into quantitive easing. That's on top of the FIRST installment of 1.5 TRILLION they just blew last week, and...AND..the 500 BILLION A DAY they're pumping into the repo market.

NO VOTE, NO DISCUSSION. THEY'RE DOING IT WITH YOUR MONEY.

This is FAR from over.

Next stop? NEGATIVE INTEREST RATES.

YOU are going to have to pay your financial institutions to hold your dough. Wonderful, right?

On hearing the news today, oil, gold, silver, and crypto shot up, and almost as fast, went back around where it was after closing last friday.

Folks, WE ARE WITNESSING A BACKDOOR BAILOUT OF EPIC PROPORTIONS!! ALL PREDICATED ON LIES AND A CONVENIENT VIRUS PANIC!

Here's the short list of industries that ARE going to receive your hard earned dollars to save their ass because capitalism be damned.

Airlines
Cruise ships
Energy sectors
Shipping
Multiple industries are now lining up to receive their handouts AND THEY'RE GOING TO GET IT.

NO VOTE, NO DISCUSSION. THEY'RE DOING IT WITH YOUR MONEY.

I'm going to stop here, and I'm not going to argue with anyone about this. Call it a friendly FYI.

IF YOU READ ALL THE WAY THROUGH YOU HAVE BEEN INFORMED. Take it for what you will.

America is dead.

DEAD.

I'm not going to respond to comments that involve any political leader whatsoever. It's a waste of time discussing the words and actions of puppets hell bent on destroying the world.

How the market responds to this incredible news will tell the tale.

If this doesn't work....

RUN FOR THE HILLS.

I'm dead serious.

If negative interest rates happen, everyone will just go withdraw from the banks and lock it in a safe in a storage container. Nobody will keep their money in a bank if they have to pay to do it.

I don't disagree with the majority of your post, but this literally cannot happen, the banks will fold.

Yeah, but think negative interest rates on debt... banks pay you to take on debt. You get a mortgage and they pay you...

I got a zero percent car loan last time the markets were crap....

a reply to: JinMI

The government will step in and say you can only withdrawal a percentage of your money from the bank .

originally posted by: chr0naut

originally posted by: JinMI
a reply to: EternalShadow

This is where I have been focusing my attention, well this and tp jokes.

Were in deep and spending all the way down.

It is clear that the solution is to use currency as TP.

And tp as currency!

We just fixed the economy

originally posted by: Lumenari

originally posted by: Phage
a reply to: EternalShadow

It's all about the economy.

Oh... and November.

Trump runs the Fed now?

Interesting news!

Just be happy hillary lost or we would really be screwed...

a reply to: Bluntone22

Still?

Seriously?

a reply to: Phage

Yep..
She's like a bad penny

FoxBusiness says rates are still higher here than in much of Europe. How can you go lower than ZERO?

a reply to: carewemust

Some of Europe went negative

a reply to: Bluntone22

That's a rather advanced mathematical concept.

originally posted by: Phage
a reply to: Bluntone22

Still?

Seriously?

Don't worry, they're re-re-investigating her emails and Benghazi, or something.

a reply to: carewemust

Negative.

At this rate, I think it's almost a given we will see negative interest rates.

I hope I'm wrong.

originally posted by: Phage
a reply to: Bluntone22

That's a rather advanced mathematical concept.

For some people I suppose

www.cnn.com...

originally posted by: Phage
a reply to: Lumenari

Who said anything about Trump?

Um... it's currently Trump's economy to own...

And do you need a link to who is running in the general election in November?

Spoiler... Trump is on the ticket.

a reply to: Lumenari

Just Trump? Nothing going on in the Senate?

You don't think that the state of the economy will be of import in November?