It Begins: Palace Revolt against ECB’s NIRP

Published on Wolf Street, by Wolf Richter, March 4, 2016: if punishment interest exceeds the pain threshold.

The Association of Bavarian Savings Banks, which represents 71 savings banks in the German State of Bavaria, has had it with the ECB’s negative deposit-rate absurdity, and it’s now instigating a palace revolt.

In 2014, when negative interest rates first hit Eurozone banks and ricocheted out from there, Germans called it “punishment interest” (Strafzinsen) because these rates were designed to flog banks and savers until their mood improves. But inexplicably, their mood hasn’t improved.

Bank stocks have gotten clobbered as their profits have gotten hit by the negative interest rate environment. Stocks of Eurozone companies in general have come down hard, and the Eurozone economy simply hasn’t responded very well though the ECB is flogging it on a daily basis with its punishment interest.

And so Bavarian savings banks have had enough. The Frankfurter Algemeine has obtained a memo by the Association of Bavarian Savings Banks that openly encourages its member banks to stash cash in their own vaults rather than depositing it at the ECB and paying the penalty interest of 0.3% to the ECB on these deposits … //

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C’est la réalité qui est choquante et obscène. Pas les photos – Ai Weiwei à Lesbos, dans l’Obs, par Doan Bui, le 5 mars 2016;

ISIS dig countless tunnels underground captured cities (VIDEOS, PHOTOS), on RT, March 5, 2016;

New Fences on the Old Continent – Refugee Crisis Pushes Europe to the Brink, on Spiegel Online International, by Giorgos Christides, Julia Amalia Heyer, Walter Mayr, Peter Müller, Ralf Neukirch, Conny Neumann, René Pfister, Jan Puhl, Mathieu von Rohr and Christoph Scheuermann, March 4, 2016 (Photo Gallery): even as Chancellor Merkel continues pursuing a deal with Turkey, Austria and its Balkan neighbors to the south have taken things into their own hands. With fences going up across the region, Greece is in trouble and the EU can’t figure out what to do;

The New Mind Control. “Subliminal Stimulation”, Controlling People without Their Knowledge, on Global (first on Aeon), by Robert Epstein, March 3, 2016: the internet has spawned subtle forms of influence that can flip elections and manipulate everything we say, think and do;
(see also on en.wikipedia: Robert Epstein (born June 19, 1953) is an American psychologist, professor, author, and journalist. He earned his Ph.D. in psychology at Harvard University in 1981, was editor in chief of Psychology Today), a visiting scholar at the University of California, San Diego, and the founder and director emeritus of the Cambridge Center for Behavioral Studies ( in Concord, MA …;
Cambridge Center for Behavioral Studies on YouTube-search;

The Climat Change Hoax:

on en.wikipedia:

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