Global central banks are making investors pay to stash their money. An investment chief overseeing $4.5 billion explains why that would be a disaster for the US.

, a $4.5 billion wealth-management firm, negative rates couldn't be further from normal. And he thinks their implementation in the US could upend the financial system as we know it today.

The Bank of Japan and the European Central Bank have pegged interest rates at or below zero for years now, and their economies are barely treading water. In fact, in the second quarter of 2019, the eurozone and Japan posted paltry gross-domestic-product growth of 0.2% and 0.3%. Under normal, positive-rate circumstances, lenders earn interest when they stash excess capital at the central bank. But under a negative-rate policy, the opposite is true. They're actually charged for having an extra layer of security.

"You're killing your banks," he said."And if you kill your banks, then you're destroying the transition mechanism of monetary policy, and you basically cut off a profitable way of loaning money to business."

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