Banks confront negative interest rates with plans to store titanic bundles of money on-site

The world's central banks, freaked out about huge leverage by financial institutions and borrowers and unwilling to engage in economic stimulus themselves, have been moving interest rates lower and lower, until now, many banks are offering negative interest rates, meaning that buying $100 worth of treasury bills today will return $99 in cash tomorrow -- hoping that this will incentivize banks to issue enough loans to make up for politically impossible governmental fiscal stimulus. (more…)