20-01-2009, 02:06 AM
Quote:Negative interest is very unusual but not unheard of. In the late 1970's Switzerland ran a negative interest rate system to deter foreign investors owning Swiss Francs.
I remember that time. Many financial geniuses here advised people to take out loans in Swiss francs and a bit later when the Australian dollar was floated and promptly plummeted to become the Pacific Peso there was a huge wave of bankruptcies as primary producers lost their farms and others lost their businesses. Nice one. Then interest rates went up in leaps and bounds and people couldn't afford to buy a house here any more.
"The philosophers have only interpreted the world, in various ways. The point, however, is to change it." Karl Marx
"He would, wouldn't he?" Mandy Rice-Davies. When asked in court whether she knew that Lord Astor had denied having sex with her.
“I think it would be a good idea” Ghandi, when asked about Western Civilisation.
"He would, wouldn't he?" Mandy Rice-Davies. When asked in court whether she knew that Lord Astor had denied having sex with her.
“I think it would be a good idea” Ghandi, when asked about Western Civilisation.