{"id":14160,"date":"2015-11-05T07:08:44","date_gmt":"2015-11-05T12:08:44","guid":{"rendered":"http:\/\/olduvai.ca\/?p=14160"},"modified":"2015-11-05T07:08:44","modified_gmt":"2015-11-05T12:08:44","slug":"yellen-tells-congress-negative-interest-rates-are-possible","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=14160","title":{"rendered":"Yellen Tells Congress Negative Interest Rates Are Possible"},"content":{"rendered":"<header class=\"entry-header\">\n<h3 class=\"entry-title\"><a href=\"http:\/\/www.armstrongeconomics.com\/archives\/38983\" target=\"_blank\">Yellen Tells Congress Negative Interest Rates Are Possible<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<p><a href=\"http:\/\/www.armstrongeconomics.com\/wp-content\/uploads\/2013\/06\/yellen-Janet.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"  wp-image-32743 aligncenter\" src=\"http:\/\/www.armstrongeconomics.com\/wp-content\/uploads\/2013\/06\/313x366xyellen-Janet.jpg.pagespeed.ic.0awNWp83iw.jpg\" alt=\"yellen-Janet\" width=\"313\" height=\"366\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.reuters.com\/article\/2015\/11\/04\/usa-fed-yellen-rates-idUSN9N0X501620151104#7YsU9sXhVHk3ra1A.97\"><strong>Reuters<\/strong><\/a>\u00a0has reported that Yellen told a House of Representatives committee when testifying before Congress:\u00a0<em><strong>\u201cPotentially anything \u2013 including negative interest rates \u2013 would be on the table. But we would have to study carefully how they would work here in the U.S. context.\u201d<\/strong><\/em><\/p>\n<p>Yellen may have been placating Congress for negative rates would wipe out the elderly entirely. They have failed to work in Europe in the slightest.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" aligncenter\" src=\"http:\/\/armstrongeconomics-wp.s3.amazonaws.com\/2015\/08\/Swiss-1000-CHF.jpg\" alt=\"Swiss 1000-CHF\" width=\"266\" height=\"247\" \/><\/p>\n<p>Negative interest rates are not working in Europe. Even in Switzerland,\u00a0<strong><a href=\"http:\/\/www.armstrongeconomics.com\/archives\/tag\/swiss-1000-franc-note\">hoarding of cash<\/a><\/strong>is becoming a national pass-time. This entire idea demonstrates that those who would be king, do not understand even how the economy functions.<\/p>\n<p><a href=\"http:\/\/www.armstrongeconomics.com\/wp-content\/uploads\/2013\/01\/paine-common-sense.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8186\" src=\"http:\/\/www.armstrongeconomics.com\/wp-content\/uploads\/2013\/01\/939x422xpaine-common-sense.jpg.pagespeed.ic.PMXw_m8iQq.jpg\" alt=\"Paine-Common Sense\" width=\"939\" height=\"422\" \/><\/a><\/p>\n<p>We are back to Thomas Paine\u2019s Common Sense that inspired the American Revolution. He explained that government was evil because it operates from a\u00a0<strong>NEGATIVE<\/strong>\u00a0perspective to always\u00a0<strong>PUNISH<\/strong>\u00a0the people. This is the only way those in government ever perceive their power \u2013 it is always to demand and punish, never to work with society to comprehend what the problem might be.<\/p>\n<p><a href=\"http:\/\/armstrongeconomics-wp.s3.amazonaws.com\/2015\/11\/Budget-Crisis-2917.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-38984\" src=\"http:\/\/armstrongeconomics-wp.s3.amazonaws.com\/2015\/11\/Budget-Crisis-2917.jpg\" alt=\"Budget Crisis 2917\" width=\"1112\" height=\"626\" \/><\/a><\/p>\n<p>Taxes are too high and the standard of living has declined. Those in power will\u00a0<strong>ONLY<\/strong>\u00a0raise taxes because they are incapable of reform. The year 2017 will cross the Rubicon. The inflation they are desperately trying to create will arrive, but not in the form they desire.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Yellen Tells Congress Negative Interest Rates Are Possible Reuters\u00a0has reported that Yellen told a House of Representatives committee when testifying before Congress:\u00a0\u201cPotentially anything \u2013 including negative interest rates \u2013 would be on the table. But we would have to study carefully how they would work here in the U.S. context.\u201d Yellen may have been placating [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5496,303,305,1154,451,5479,534,558,1796,4393],"class_list":["post-14160","post","type-post","status-publish","format-standard","hentry","category-economics","tag-armstrong-economics","tag-fed","tag-federal-reserve","tag-interest-rate-policy","tag-janet-yellen","tag-martin-armstrong","tag-monetary-policy","tag-negative-interest-rates","tag-us-congress","tag-us-house-of-representatives"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14160"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14160\/revisions"}],"predecessor-version":[{"id":14161,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14160\/revisions\/14161"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}