A few weeks ago the Belgian government announced a new government bond. What is different this time is 
One needs to know that more than 300 billiom Euro is stored in Belgian saving accounts. Not that this is a problem but the banks currently are getting rich by doing nothing. And nothing can be taken literally. In the past months the European bank did increase there interest rate several times, but the regular banks weren't following. So that were making a shitload of profit by increasing the interest when lending out money, but not increasing the interest when money is stored with them. While I don't have a problem with banks wanting to make a profit they should be fair. To encourage the banks to increase their interest the government issues this bond with a net interest of 2.81%. This is a common fact in the complete European Union. Some countries just did introduce extra taxes of the banks, but that isn't helping the normal people.
Regardless of what people do, inflation is kicking them in the nuts. But maybe it seems that the people do want to make a statement to the banks, because at the moment already 12.8 billion euro has been moved to the government bond. That is massive. Experts think that even the 20 billion can be passed. That would be a huge signal to the banks.
We were doubting if we would invest into it. I, just like most Belgians, do like to have the money available. The wife on the other hand did say that we had no plans to use the amount of money we were willing to invest and want to give a signal to the bank. While we do know and understand that the bank would feel anything about us moving some money away, if lots of people do this, it would become a signal.
I am playing with the idea to invest 10% of the amount we did invest into the bond into crypto and see which one wins.
Cheers,
Peter
I read about the bond/bons just yesterday. Seems like an interesting place to put away money you can miss for 1 year (and fuck the banks over by doing so). Shortly looked at it myself, but it seemed too much of a hassle for an non BE-citizen/bank account holder to get them.
If you still have a Dutch (savings) account, you might also put a bit more in that. The interest isn't high here, but a lot more than in Belgium as far as I understood.
No savings account in the NL anymore. Only a normal account until all taxes have been refunded.
Okay. That makes sense. Do we owe you a lot?
Around 8K I guess
Oh, wow. That's a lot. Well worth to wait before closing the account...
Here is some !LUV for the waiting.
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They have been pushing bonds pretty hard over here in the states too. I have seen some that have interest rates around the 4 to 5 percent range which is pretty impressive given where we have been. My other investments have been doing fairly well netting me between 7 and 15 percent, so I think I will stick with them. Even in this bear my stocks and mutual funds have been performing relatively well. Especially after last year!
Between 7 and 15% is just great. That even battling it out with inflation!
Yeah, the year to date is even better than that, but I focus more on the long term.
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Great to find an other Belgian person on Hive! :D
Did you in the end invest in the bond? Personally I didn't as the money I have, I need to have it liquid in terms of emergency and other money is invested for the long term. For 1year I guess the terms are kind of fine but you're still losing out on inflation so I passed. Short summary, it's ofcourse more complex. :)
Great write-up!
#freecompliments