You Decide

Here is one more thing for UK voters to consider with Brexit day nearing. It's about the European Central Bank.

German Finance Minister Schaeuble said in April that the ECB’s record low interest rates were causing “extraordinary problems” for German banks and pensioners and risked fuelling the rise of euroscepticism in Germany, where voters had flocked to the right-wing Alternative for Germany in state elections.

As the ECB has pumped more than 1 trillion euros of fresh money into the system – most of which has flowed towards countries such as prosperous Germany – banks have been hoarding ever more with the central bank.

Deposits by European banks at the ECB now stand at more than 850 billion euros, at a considerable cost to banks. Demand for loans in the euro zone, where the economy remains in the doldrums in some quarters, has not spiked despite the ECB measures.

The ECB hoped that negative zero interest rates would spur banks to lend rather than an interest penalty for storing funds with the central bank. Called it the law of unintended consequences. But refused to lend the money because they cannot find the quality loans they wanted. So in essence you have thus bureaucratic miasma of officials really forcing banks to make risky loan or pay the interest.

davidstockmanscontracorner.com/the-german-revolt-begins-commerzbank-plans-to-hoard-billions-in-vaults-rather-than-pay-negative-rates-to-ecb/