The outlook for bank customers and gold
Commercial banks in the euro area have had to pay interest since June 2014 when they deposit money with the European Central Bank. Currently, this is at least 0.5 percent. Many banks pass on these negative interest rates to their customers. The conditions for negative interest rates are increasingly tightened for private customers. More and more banks are charging a so-called deposit fee, with a total of around 500 banks doing so. Since the beginning of the year, almost 70 of them have tightened their regulations and there is no end in sight to the trend. Whereas the limit above which penalty interest is charged used to be 100,000 euros, it is now often as low as 50,000 euros or even less per customer. The penalty interest rates that banks pass on to their customers vary from 0.5 to one percent.
For savers, these are unpleasant decisions. Add to that the current inflation, which, opinions are divided on, is temporary or permanent for a longer period of time. As "economic self-defense", this is where gold comes into play. To defy the devaluation of money, security can be built up with gold. Because gold serves as a hedge against currency loss. Decisive for the gold price development are supply and demand, the developments of the international leading currencies and the monetary policy of the leading industrial countries. A way out of the crisis mode of the monetary authorities, which has existed since the financial crisis of 2008, is also offered by investments in gold companies, even with an additional leverage on the gold price.
Among the well-positioned gold companies are, for example, Tudor Gold or Tarachi Gold.
Tudor Gold concentrates on the Golden Triangle in British Columbia, especially on the Treaty Creek project. The Golden Triangle is famous for producing mines and large deposits.
Tarachi Gold - https://www.youtube.com/watch?v=tXqKksLoZb4 - has been focusing on projects in Mexico. The Tarachi project covers a total area of approximately 3,700 hectares.
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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