079: Raoul Pal – The Biggest Financial Experiment the World has Ever Seen, Explained by a Global Macro Investor
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The Negative Interest Rate Reform in the Global Economy
negative interest rates reform of financial repression or tax indirect taxation where they can basically suddenly turn around and say well interest rates are going to be negative 10% tomorrow. It's very bizarre so you would be best to just sort of take your money out of the bank in that situation and tuck it under your pillow is that right? Well exactly right but what interesting is what happened in Switzerland recently somebody one of the big pension funds saw what was happening to negative rates and said well what we want to do is go to the bank and take our cash out and put it in the safe in the bank. That was a really concerning thing because it was setting the precedent to show that negative interest
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