Oswald Grübel: ‚Money is not worth anything anymore‘

von Bitcoinnews.ch, 09.10.2019, 06:23 Uhr

“Money is worthless”, says Oswald Grübel, the ex-CEO of Credit Suisse. During his banking career, Oswald Grübel headed both major Swiss banks, UBS and Credit Suisse. His interview in the NZZ am Sonntag (paywall article) was picked up by international media outlets from London to Australia:

Negative interest rates are crazy. And they mean that money isn’t worth anything any more. As long as we have negative interest rates, the financial industry will continue to shrink.

Is Oswald Grübel right? One thing is true, the Swiss National Bank introduced negative interest rates in 2015 in order to...



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