Miles Kimball has been presenting G5 central banks and IMF his Machiavellian plan to push for all electronic currency and deep negative interest rates that will "guarantee" an economic turnaround, despite all real-world evidence against it. BUT, here's the frightening justifications and end-game he presents:
The politics of negative interest rates (from latest seminar PDF):
• Low interest rates are a boon to borrowers, especially when risk premia are high
• For savers & for politicians, deep negative rates for a few quarters followed by recovery & positive rates is a better scenario than zero rates & sluggishness for year and years and years.
• Social function of positive interest rates is to reward saving when saving is what is called for. (ie. buying crap is better than losing everything to deep negative interest rates)
Full Story: http://blog.supplysideliberal.com/post/119337047479/18-misconceptions-about-eliminating-the-zero-lower
Latest Seminar Presented to Bank of Thailand: https://www.pier.or.th/wp-content/uploads/2016/09/Seminar2016_Miles-Kimball.pdf
