Good old Switzerland! A $50 dollar bond -- on what amount of credit
line? How does it work?
Here, all government bonds are sold on a cash only basis, and last
started, for a $100 bond, around 3.15%, one year term. GIC's pay more,
and can be purchased on a line of credit. Union savings pay more for
longer terms up to about 6% on five years.
I think that which is scarce or truly innovative and patently useful
tends to fair best, but if you have the assets, and the nerve to pull it
off, the currency market is where fast fortunes are made. Ethics aside,
of course.
Banks have secured their place in the current system, but savvy
investors stopped depending on them for a wholesome return when interest
rates fell below mutual funds average dividend rates. Investors who read
even newspapers can forecast societal needs and desires, and streamline
a successful portfolio of their own.
Natalia
Christoph Reuss wrote:
Natalia wrote:
I suspect you would prefer to answer this yourself.
I don't know...
What I'm suggesting here is that one doesn't make much money off of
interest paid by banks today, and those who have little money are
basically paving the way for these institutions to create money on the
bank charges alone.
Interest rates for giro accounts are low indeed, but even those with
little money can usually afford some bonds over a few years, which
still get around 4% here.
Just yesterday I heard of a retired Canadian couple who got back $1400
in bank charges because in Canada no one over sixty is supposed to pay
regular banking fees.
There must be something wrong with Canadian banks... Around here, a
"small guys" bank charges about $50/year for a bond deposit and with
the 4% even those with little money can reap over $1000.
But of course the banks make big profits with the difference between
giro interest rates and loan/housing interest rates, the latter being
10-20 times higher than the former...
Chris
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