Negative rates and hoarding cash

Who the hell is Frankie Yankovic?

Just kiddin’ ya, DonDiego. Frankie bought rounds and drank ‘em down, alright, but he never revealed how much money he blew. In the 1964 song I’m referencing, the songwriter/singer told us the exact amount, to the penny.

Can anyone name the song?

How much did the singer spend?


HINT: His biggest hit was in 1965. It was titled King of the Road.

Dang Me, Roger Miller. 14dollars and 27 cents. I remember being a little kid and songs like that would come on all the time 'cause dad loved old school country. I'd unbuckle my seatbelt and stick my ear right on top of the speaker in the back of the old Granada to hear it as best I could. I sing King of the Road in my live shows.

Yes! You nailed that sucker, Campion.

Also wanted to say that I enjoyed your comments. Thanks.

Boiler man is hoarding cash in an effort to buy warm winter clothes. Otherwise, I may not live through the harsh North Tundra winter

It begins:

"[The] Bank of Ireland is set to become the first domestic financial institution to charge customers for placing their money on deposit with the bank.
This unprecedented move comes months after the European Central Bank began charging financial institutions for depositing money with it by charging them 0.4 per cent to hold their cash overnight.
The Irish Times has learned that Bank of Ireland, which is 14 per cent owned by the State, has informed its large corporate and institutional customers that it plans to charge them for deposits of €10 million or more from October."
Ref: The Irish Times


"[The] Royal Bank of Scotland Group Plc, Britain’s largest taxpayer-owned lender, said some of its biggest trading clients must pay interest on collateral as a consequence of low central bank interest rates.
Some of the bank’s institutional clients will need to pay interest on funds pledged as collateral when trading futures contracts, the bank said in an e-mailed statement on Friday."
Ref: Bloomberg

The low, . . . and now negative interest rates, . . . are imposed by Central Banks to "force" folks to spend money or lose a bit of it over time.
Since this punishes the banks which cannot earn a safe, positive return on funds deposited with them, the banks impose negative-interest, a fee, instead of paying the depositor interest.

The policy ultimately punishes savers. Is this a proper function of Government?
Haven't these guys heard of Benjamin Franklin: "A penny saved is a penny earned"? Oh wait, . . . that was in the Good Old Days.

Boy this post gets my Las Vegas juices flowing!!!

If'n Iamrice is a preferred player, he may be able to get an exchange rate on €'s-to-$'s at a casino cage better than he'd find at a bank; if'n he ain't, he won't.

Frankie Yankovic was excellent musician & singer. Too Fat Polka best song by Frankie (for me).

My sister was complaining about a CD she had coming due. It was paying 3 percentage to renew it would be under one percent. I told her I'd give her 1 percent up front. She wrote me a check for $29,700 and I will pay her $30,000 in a year. Not sure what I will do, but if I can't make money on a 1 percent loan, I should hang it up.

That's a pretty sweet loan you got there for 1%. Curious as to what you'll invest in. Me personally, I would invest in silver bullion or an index fund. I'm staying clear of single, individual stocks.