U.S. Banks Preparing to Charge Customers For Deposits

If the banks are that stupid the Credit Unions will enjoy a boost like they never imagined. As it is, the banks charge increasingly higher fees as the minimum amount on deposit decreases; so far we pay nothing and actually earn a fraction of a percent monthly interest. I have an in-home safe, not expensive at all but that's not the answer, the banks would charge even more to simply cash a check be it a walk-in or direct deposit.
 
They are already have defacto negative interest with excessive and/or unnecessary fees, service charges and penalties. The country has already shown a swing away from credit where the banks can gouge the borrower. More people have been buying houses with cash.

http://abc7news.com/archive/8983592/

Negative interest will turn US economy into an underground cash economy which is already happening no matter how much PR & poop they release about electronic/computerized banking. The thing about the European policy is that many in Europe have been led to believe that the rich are the problem and people with money are rich. Ironically many economist think more people need to save yet if you accumulate money you're supposedly rich because you have impulse control. Rich is not the mere possession of money. Yeh there are some people that inherited a fortune but they've also been able to manage and keep that fortune. Demonizing the rich is the first step towards communism/socialism. So if you work hard at managing money to make money you're a rich evil capitalist and yet if you simply mail it in/show up at a job your a working class hero.
 

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