Thrilling Thursday – Back Over S&P 3,000 as the ECB Eases

NEGATIVE 0.5%!

That is now the European Central Bank's Deposit Rate.  That's 2.6% lower than our Fed's current 2.1% rate and 0.75% lower than our all-time low of 0.25% (and you thought we couldn't go to zero!) back in the throes of the Recession.  As you can see from the bottom of the Fed's historical rate chart – this has never happened before in the history of the World so don't listen to people who tell you that they know what is going to happen in a negative-rate World – no one has any friggin' idea what is actually going to happen when we go below the zero line…

We've had Recessions, Depressions, Hyper-Inflation and even Deflation in Human Economic History but we have not had a situation in which rich people (Banksters) CHARGE YOU money for holding your money.  And they are not HOLDING it, you are lending it to them and they are using it to make more money (as Jimmy Stewart explains) – they don't even HAVE your money – IT's GONE!!!  

Negative rates sent the Euro plunging lower (if you have 100 Euros, and you put it them the bank for 10 years, you get back 95 Euros), which will not make Trump happy, as he wants a weak Dollar to inflate the value of his real estate assets so he will pressure the Fed to lower our rates further, so Trump can then borrow money at lower rates to buy more buildings and, of course, the US Taxpayers pay the bill for all these artificially low rates through gigantic deficits and Putin wins again – but there's no collusion – things just work out for him… all the time.  

In fact Russia has been hoarding gold and dumping US assets – almost as if they knew what Trump was going to do.  Russia has been the World's largest buyer of gold recently with the value of their reserves climbing 42% in the past year alone.  “Russia prefers to cushion its macroeconomic stability through politically neutral tools,” said Vladimir Miklashevsky, a strategist at Danske Bank A/S in Helsinki. “There is a massive substitution of U.S. dollar assets by gold — a strategy which
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