by JL Yastine
The Sovereign Investor
I always liked the famous scene in the movie Jaws where the film’s hero, police Chief Brody, finally gets a close-up look at the size of his killer shark nemesis.
“We’re gonna need a bigger boat,” he says, incredulous at the size of the monster fish.
These days, we have a monetary nemesis called negative rates. It’s already a reality in Japan and the European Union.
But large banks, incredulous at being forced to store their digital cash at the European Central Bank (ECB) — and paying for the privilege — have a strategy to deal with this ongoing financial horror show, summed up as…
“We’re gonna need a bigger vault.”