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And with negative rates and fees to depositors… US headed there too?Good Morning from #Germany where retail deposits have hit an ATH at €2.63tn in Jun although more & more banks charging penalty interest on deposits & although inflation reduces value of money. In July, inflation rose to 3.8%. Means loss of purchasing power of deposits of €100bn pic.twitter.com/NXP1dca8Rm— Holger Zschaepitz (@Schuldensuehner) August 1, 2021
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And with negative rates and fees to depositors… US headed there too?Good Morning from #Germany where retail deposits have hit an ATH at €2.63tn in Jun although more & more banks charging penalty interest on deposits & although inflation reduces value of money. In July, inflation rose to 3.8%. Means loss of purchasing power of deposits of €100bn pic.twitter.com/NXP1dca8Rm— Holger Zschaepitz (@Schuldensuehner) August 1, 2021
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Mike Norman considers the following as important:
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And with negative rates and fees to depositors… US headed there too?
Good Morning from #Germany where retail deposits have hit an ATH at €2.63tn in Jun although more & more banks charging penalty interest on deposits & although inflation reduces value of money. In July, inflation rose to 3.8%. Means loss of purchasing power of deposits of €100bn pic.twitter.com/NXP1dca8Rm
— Holger Zschaepitz (@Schuldensuehner) August 1, 2021