Negative Interest rates on government bonds and central bank deposits can strike one as an ‘Alice in Wonderland’ through the looking glass degree tear in the financial space-time continuum. It appears to stand 5,000 years of interest rate history on its head. So why the tremendous investor demand for negative rates? This report places negative interest rates in the context of long term historical trends – and the post 1999 golden age of the speculative bubble. I employ Adrian Brody’s role in the 2010 film ‘Wrecked’ as a parable to help flesh out the issues.
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