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« Fast And Furious Silver Prices Prepare To Rocket To New All Time Highs | Main | Gold: The 2 Main Influences Are The U.S. Dollar And The S&P 500 (Part 2) »

The Jackson Hole Jolly For Central Bankers And The Ramifications For Gold


Investors and speculators alike awaited with bated breath for the latest meeting of the central bankers to be concluded. Given a less than positive economic future the bankers are looking to more financial stimuli in an attempt to cushion the upcoming recession. 

Some news outlets have reported that there is now $16 trillion worth of global negative interest rate debt. Who in their right minds invests their hard-earned cash in a dead certainty of a loser? A pension fund that is paying out at a rate of 5%-6% is reliant on an investment that has a negative return, how long can that go on, frankly its beyond me.

For the Danes there is a benefit in that there are now negative interest rate mortgages in Denmark. A Danish bank has launched the world’s first negative interest rate mortgage giving out loans to homeowners where the charge is minus 0.5% a year. Jyske Bank has begun offering borrowers a 10-year deal at -0.5%. Jyske said; “We don’t give you money directly in your hand, but every month your debt is reduced by more than the amount you pay,” said Jyske’s housing economist, Mikkel Høegh.  This is a ‘first’ in my lifetime and it is a far cry from the 1979 period when the base rate in the UK was around 18% with mortgages a few percentage points higher and we all struggled like crazy to maintain a roof over our heads.

These are truly unchartered waters and treacherous to navigate as we are all on this journey into the unknow.





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