My answer to What happens to the economy if interest rates continue stay low for a protracted period of time?
Answer by Desmond Last:
We the people become liquid assets to be traded over borders that no longer exist and our own banking systems who are merely transfer points of cash.
Low Interest rates pass control of capital for growth from the local domestic banking system to the International Money Vultures.
They also support poor economic performance and lead to inefficient business.
Credit is increasingly given via Government using the fiscal ssytem to promote growth and throw some bones for the margin reduced banks to chew on.
In an attempt to make money for their short-sighted shareholders who confuse short-term investment return for long-term wealth generation they expand into other countries chasing volume not quality.
In doing so they succumb to clever and complicated corrupt government and business money laundering which cost their customers dear as bank charges are increased to pay compliance fines.
The rural and agricultural sector suffers as local branches are closed and bank account manger become replaced by robots in a call-centre who say no before they say yes.
The aging investor waiting for his pension pot of Gold finds that he can only sigh at his Spanish estate agent brochure showing beachfronts he is no longer able to afford.
In the meantime the Finance cartels such as the IMF and World Bank and Merkel sit like vultures waiting to take control of economic sectors and countries whose own banks simply have no cash.
The development of the Euro and the only means of its support being the Cartel lenders not the banks has resulted in Greece financial collapse , the rising unemployment in Europe and the growth of the Euro Superstate. In part because the domestic banks do not have the funds to invest.
We need a competitive banking sector that makes money from each of their own domestic commerce.
Not the Euro Spin of an American Bank of England Chairman who seems unable to understand the importance of an independent domestic economy supported by an independent banking system.
We also need Banking executives who are paid by results ,not to the dividend, but to the community who support it.
My new economic system proposes interest rates by Industry sector performance and domestic requirements ie mortgages.
What happens to the economy if interest rates continue stay low for a protracted period of time?
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