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The War on Saving: Negative Interest Rates? No Free Checking

Well It seems we are living in an economic environment that is making it virtually impossible to save money, invest or even preserve your wealth. With interest rates on CD's and Bonds that can't keep up with inflation, and a stock market full of corruption and risk, where is one to put their money? Gold I guess...especially after the QE3/Ininity announcement

Couple Articles:
WSJ: Fed’s Bullard: Negative Interest on Reserves Is a Stimulus Option

JACKSON HOLE, Wyo.–A key Federal Reserve official said Friday he sees potential value in charging banks to park reserves on the central bank’s balance sheet.

In an interview with Dow Jones Newswires on the sidelines of the Federal Reserve Bank of Kansas City’s research conference in Jackson Hole, Wyo., St. Louis Fed President James Bullard says he sees potential benefit from imposing negative interest rates on the excess reserves banks currently park at the Fed.

Banks are now currently paid 25 basis points to keep money at the Fed. Even at such a negligible level, banks have parked massive amounts of cash at the central bank that could be put to work in the economy.
More: http://blogs.wsj.com/economics/2012/08/31/feds-bullard-negat...


The Week: Is the era of free checking accounts over?

Facing new government regulations and a lackluster economy, the financial industry is forcing customers to pay more just to park their money at the bank

"If free checking accounts were animals, they'd be on the World Wildlife Fund's list of endangered species," says Catherine New at The Huffington Post. This week, industry trade group Bankrate reported that only 39 percent of checking accounts in America are free (meaning they require no minimum balance and don't charge a monthly fee). The free checking account used to be nearly ubiquitous — clocking in at a high of 76 percent in 2009 — but banks have been cutting back their largesse in a bid to squeeze more money out of customers.
More: http://theweek.com/article/index/233833/is-the-era-of-free-c...


"The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and
Federal Reserve currency devaluation.
It is this one-two punch -
Congress spending more than it can tax or borrow,
and the Fed printing money to make up the difference -
that threatens to impoverish us by further destroying the value of our dollars."
~Ron Paul ~

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