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How to Destroy a Civilization
How to Destroy a Civilization There are lots of ways to kill off a civilization. Wars, politics, economic collapse. But what are the actual mechanics? It might be a useful thing to know whether or not we are killing ourselves off. Ancient Rome is a good place to start. They had an advanced civilization. They had […]
Europe Gives Up On Sound Money, Prepares To Join The Currency War
Europe Gives Up On Sound Money, Prepares To Join The Currency War Not so long ago, Europe seemed to have its financial house more-or-less in order. German government spending was actually falling. Industries that had been nationalized in the socialist 70s were being privatized. The European Central Bank – run by sound money advocate Jean-Claude […]
Goldman Warns Risk Of Market Crash Is Highest Since The Financial Crisis, Nearing 60%
Goldman Warns Risk Of Market Crash Is Highest Since The Financial Crisis, Nearing 60% A common refrain among the bullish talking heads on CNBC in recent months has been that whether one includes the Fed’s invisible hand in “price discovery”, or excludes it as so many naively continue to do, the result would be the same […]
Debt, Deficits and the Cost of Free Lunches
DEBT, DEFICITS AND THE COST OF FREE LUNCHES It seems that every generation or two, fundamental economic ideas are questioned and challenged. The reasonable and important idea that governments should balance their budgets on an annual basis was challenged in the 1930s by the rise of Keynesian Economics and the counter-argument that deficit spending was […]
The Dying Days Of An Empire
The Dying Days Of An Empire Something’s been nagging me for the past few days, and I’m not sure I’ve figured out why yet. It started when Donald Trump first called off the alleged planned strikes on targets in Iran because they would have cost 150 lives, and then the next day said the US […]
Demographic Doom? Germany, Italy, Korea, & Japan Face Workforce Collapse By 2050
Demographic Doom? Germany, Italy, Korea, & Japan Face Workforce Collapse By 2050 Forget the trade war, debt, deflation, automation, and artificial intelligence: one of the most significant threats to the global economy and the future of the world as we know it is demographics. A new OECD report, published by International Business Times, said Korea, Japan, Germany, […]
Inflation Chickens Will Come Home to Roost – Peter Schiff
Inflation Chickens Will Come Home to Roost – Peter Schiff Money manager Peter Schiff says all the money printing and debt explosion since the Great Recession comes with a huge downside. Schiff says, “All sorts of bad policies basically took place thanks to the monetary excesses applied by the world central banks, but now we […]
The Real Reason Why The Fed Isn’t Cutting Interest Rates
The Real Reason Why The Fed Isn’t Cutting Interest Rates In an article published in September 2015 titled ‘The Real Reason Why The Fed Will Raise Interest Rates’ I outlined a kind of economic war game, a predictive theory in which the Federal Reserve would hike rates into clear economic weakness in order to deliberately cause the […]
In Absurd Fiasco, Entire Market Spike Was Due To A CNBC Grammatical Mistake
In Absurd Fiasco, Entire Market Spike Was Due To A CNBC Grammatical Mistake The farce that is this “market” just took a whole new turn for the surreal. As we reported earlier, the reason why stocks surged just after 5am EDT is because of a CNBC headline, according to which the US Treasury Secretary said that […]
Europe Won’t Admit the Mini-BOTs Are Coming
Europe Won’t Admit the Mini-BOTs Are Coming Italy is in serious trouble financially. This is virtually common knowledge at this point. What isn’t common knowledge is its Euroskeptic government led by Lega’s Matteo Salvini and Five Star Movement’s Luigi Di Maio are preparing an assault on the foundation of the European Union itself to save […]
“It Would Be An Earthquake” – Three Chinese Banks Tumble After US Threatens To Cut Them Off From SWIFT
“It Would Be An Earthquake” – Three Chinese Banks Tumble After US Threatens To Cut Them Off From SWIFT In news that initially did not receive much prominence, on Monday a US judge found three large Chinese banks — reportedly the state-owned Bank of Communications, China Merchants Bank, and Shanghai Pudong Development Bank — in […]
Pursuit of profit won’t solve climate crisis
Pursuit of profit won’t solve climate crisis Effective democracy needs “a widespread sense of responsibility for the common good” Every answer has a cost. Every choice exacts a penalty. A new book reminds readers there are no easy answers to the climate crisis. LONDON, 24 June, 2019 − Resolving the climate crisis demands radical political change, […]
The Rise of the Shotgun Banknote Switch
The Rise of the Shotgun Banknote Switch Every decade or two, central banks replace their existing issue of banknotes with a new issue. The main reason they do this is to thwart counterfeiters, who by then will have started to get pretty good at duplicating the existing version. Central bankers have usually tried to make […]
What is Money?
What is Money? What is money? Although it might seem a straight-forward question, ‘what is money’ is a question which will return a wide variety of answers depending on who you ask. For something taken for granted and used by billions of people every day all over the planet, this is perhaps surprising. Ask a […]
As China’s Banking System Freezes, SHIBOR Tumbles To Lowest In A Decade
As China’s Banking System Freezes, SHIBOR Tumbles To Lowest In A Decade One trading day after we reported that China was “Hit By “Significant Banking Stress” as SHIBOR tumbled to recession levels, and less than a week after we warned that China’s interbank market was freezing up in the aftermath of the Baoshang Bank collapse and subsequent seizure, which […]
