I had an interesting conversation with my "adviser" from one of the two main banks last week. As a corporate client I expressed my dissatisfaction with the miserly return on deposit rates. When I updated him on my plan to move a large chunk of the company's deposits to a money market fund via my broker outside of the bank, I asked him was he not concerned that eventually more and more customers would follow suit. His response was "Barry, no. We are awash with cash. The bank has never been so liquid. We have no incentive to pass on ECB rates." Therein lies the problem of monopolistic banking!
I love your show and listen to almost every episode.
Can I ask just one thing that maybe an improvement for your listeners?
When you start an episode could you announce the date?
I often queue up pods and listening while cycling or doing something that I can't look at my phone. So it's sometimes hard to know what week you're talking about, especially if I'm behind.
I had an interesting conversation with my "adviser" from one of the two main banks last week. As a corporate client I expressed my dissatisfaction with the miserly return on deposit rates. When I updated him on my plan to move a large chunk of the company's deposits to a money market fund via my broker outside of the bank, I asked him was he not concerned that eventually more and more customers would follow suit. His response was "Barry, no. We are awash with cash. The bank has never been so liquid. We have no incentive to pass on ECB rates." Therein lies the problem of monopolistic banking!
Hi,
I love your show and listen to almost every episode.
Can I ask just one thing that maybe an improvement for your listeners?
When you start an episode could you announce the date?
I often queue up pods and listening while cycling or doing something that I can't look at my phone. So it's sometimes hard to know what week you're talking about, especially if I'm behind.
Thanks.