Central Banks around the world are engaging in negative interest rates!  In a free market, negative interest rates because it completely goes counter to time preferences!  We would always prefer to have a good in the present, as opposed to a good in the future!  Negative interest rates would imply that someone would prefer a good in the future as opposed to a good in the present!  This is ridiculous and negative interest rates are even being contemplated in the United States! What does well in a negative interest rate environment?  Gold and Silver!