- Negative interest rates, paying banks for holding our funds, violates this established norm.
- Five central banks, which together oversee a quarter of the world’s economy, have opted to impose negative rates on the commercial banks that must use their services.
- The payment of interest goes back to the Babylonians.
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@BitcoinRat: “thoughtful programme by @martinwolf_ @BBCRadio4 current dire & unsustainable state of our economy. bitcoin anyone?”
Martin Wolf examines how the search to revive growth is testing the norms of economics.
BBC Radio 4