Comments by "Sankalp" (@sankalp6872) on "Colonial Pipeline pays $5 mn in bitcoin to hackers: New age warfare by non-state actors" video.

Negative interest rates are not passed on to depositors. Negative interest rates is a monetary policy wherein commercial banks are charged interest for keeping their cash with the Central banks (instead of being paid interest). The idea is to spur growth by promoting spending and borrowing. In any case, there is little evidence to support this theory. Not many countries have adopted this policy. Japan is the most prominent user of this policy but has nothing to show for it i.e. they have failed to deliver growth. Japan's problem is actually liquidity crisis. It's population simply does not spend money. The other country to used them is Switzerland but it was only a short term measure during the GFC. As far as I know US has never had negative interest rates. They have had ZERO but not negative. The US public if anything loves to spend money. The US will never impose negative interest rate esp now when US economy is overheating. It is growing at about 6%. If anything they might increase interest rates to curb inflation. Your sentence on "liabilities converted to assets". I think you had this part confused with Quantitative Easing. Also, as far increasing poor-rich difference is concerned -> the truth is every expansion irrespective of the policy involves (monetary, fiscal) will always fuel inequality. It is like that by design.
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