German banker about the swap participation rate

[GermanHoldout]

Below are the remarks of a german banker about the swap participation rate
(in Italy and the USA the swap participation situation is most likely the same as in Germany. It is obvious, that the official participation quota will be manipulated by the government in the same way as e.g. the inflation rate (INDEC)

German Banker says(translation):
"In Germany, the swap rate is extremely low, neither my colleagues nor the bank customers change on this poor conditions. This offer with its long maturity and low interest rate (under the long-term rate of inflation) means a total expropriation."

original in german->
"In Deutschland ist die Tauschquote äußerst gering, weder meine Kollegen noch die Bankkunden tauschen zu den angebotenen schlechten Konditionen, die bei der angebotenen langen Laufzeit und der geringen Verzinsung (unter der langfristigen Inflationsrate) einer schleichenden Totalenteignung gleich kommt."

source ->
http://www.b-wiebel.de/forum/messages/16524.html