Archives for December 2019

In Denmark, the central bank began setting negative rates in 2012, and for wealthy Danes, it's been a chore to avoid giving money to the banks ever since. There are 178,000 Danes with more than 750,000 crowns in the bank, and they have been moving money to separate accounts, or simply taking it out of the bank altogether ever since negative rates were instituted. Who wants to pay the bank to hold their money? No one, of course. Last week I detailed for you the growing trend of wealthy individuals using safety deposit boxes. A safety deposit box has many benefits besides moving your money … [Read more...]