Implications of negative interest

Here’s something I never imagined seeing: A government agency actually asking taxpayers to hold off paying their bills as long as possible. Negative bank interest rates in Switzerland have led a canton (like a county) to ask citizens to delay paying because the longer money sits in the government’s bank account, the less there will be as time goes by.

We’re in strange economic waters. And once people figure out that they’re better off with their cash under a mattress, how long before there is a run on the banks?

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