Americans Celebrate 'end of bank cartel'

Posted at 7:28 pm on 08/20/2015 by Tom Dyson, Palm Beach Research

Keeping up with the current issues in  the economy is not always that easy. Bella subscribes to some financial newsletters and wishes to share non-copyrighted material for you to check out yourself ..

From Bill Bonner's Diary
Thanks to this California company’s invention, any bank that pays you less than 10% interest could soon be obsolete.
I know it’s hard to believe any account could pay double-digit yields today. But with $125 million in backing from Google, this company has found a way to break the "bank cartel" established by the Federal Reserve in 1913.
It’s big news for anyone approaching retirement...
Because for the first time in 102 years, it’s now possible to get a "free market" interest rate.  And that’s currently about 50x more than you’d get from a normal savings account.
The New York Times says, "tens of thousands of investors have benefited..."
If you are concerned about having enough safe income in the coming years, you need to follow this development.
Tom Dyson
Publisher, Palm Beach Research Group

Bill Bonner

Bill Bonner

Editor, Bill Bonner’s Diary

Bill Bonner founded Agora Inc. in 1978. Since then, it has grown into one of the largest independent newsletter publishing companies in the world.

Bill also co-wrote two New York Times bestselling books, Financial Reckoning Day and Empire of Debt. His latest book, Hormegeddon, describes what happens when you get too much of a good thing in the sphere of public policy, economics and business.

In his daily newsletter, Bill Bonner’s Diary, Bill shares his decades of accrued knowledge about history, politics, society, finance, and economics. Sometimes funny, sometimes frightening – you’ll find his pieces always entertaining and packed with useful insight.

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