A Perversion of Finance
Negative or zero interest rates are effectively a tax placed on citizens by unelected central bank technocrats. That’s interesting because I seem to remember learning about a war being fought against “taxation without representation,” but then, that was about 250 years ago and on the other side of the Pacific Ocean from Japan.
So what does Japan’s Central Bank move to raise rates to zero for the first time in 17 years mean for us?
Negative or zero interest rates are effectively a tax placed on citizens by unelected central bank technocrats. That’s interesting because I seem to remember learning about a war being fought against “taxation without representation,” but then, that was about 250 years ago and on the other side of the Pacific Ocean from Japan.
So what does Japan’s Central Bank move to raise rates to zero for the first time in 17 years mean for us?