Friday, 29 January 2016
Japan (the Bank of Japan) overnight went negative and embraced NIRP (negative interest rate policy).
- They will now start charging for the privilege of having money.
If this makes no sense and is confusing, welcome to the "new world odor" and the result of central banks having been flaming full-Keynesian for many decades.
- In simple terms NIRP is government mandated theft of money.
From Theo Spark at 16:12