Top Banker Admits Fiat is Worthless, Is Bitcoin The Future of Money?

The former CEO of one of the top Swiss banks has criticized negative interest rates adding that it means money has become worthless. His comments come at a time when countries across the globe are feeling an economic squeeze and their central banks are resorting to drastic measures. Is now the time to seriously consider Bitcoin ?

Money is No Longer Worth Anything

According to Oswald Gruebel, who headed Credit Suisse from 2004 to 2007 and was UBS Group AG’s top executive from 2009 to 2011, extreme banking measures such as negative interest rates will cause further economic declines.

In an interview with Swiss newspaper NZZ, and reported by the SMH, Gruebel stated.

Negative interest rates are crazy. That means money is not worth anything anymore. As long as we have negative interest rates, the financial industry will continue to shrink.

The Swiss national bank has used negative interest since 2015 in an effort to reign in its national currency, the Franc (CHF). Banks are still…