Monthly Archive for April, 2015

Little interest

I just received a mail from my bank that the interest on my savings account was reduced  to 1.1%.  On top of that, I pay double tax on my savings. Once when earned and the Dutch government taxes all savings above €22,000! I am lucky … in Portugal they are starting to charge people for saving money!  Our interest in the financial world depends on our personal interest in our personal money. If I am told that my savings are in danger, I wake up and take note. When I hear the words ‘financial reforms’ I begin to yawn sleepily.

marble bankI read an interesting book recently by Joris Luyendijk, a Dutch journalist working for the Guardian newspaper in London. He interviewed many top- and middle level executives in the City of London, trying to understand how te financial system works, and if there have been any lessons learned from the past 7 years crisis.  The bottom line?  No lessons have been learned. It is business as usual.  He write “If you had described the effects of the crisis to anyone in 2008 and said that 7 years later nothing had changed, no-one would believe you.”  The only thing the bankers have learned is that they can get away with anything! Continue reading ‘Little interest’