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“Cashless” Sweden Suddenly Warns Citizens: Hoard Banknotes & Coins In Case Of Cyber-Attack Or War
“Cashless” Sweden Suddenly Warns Citizens: Hoard Banknotes & Coins In Case Of Cyber-Attack Or War For years, we have commented on the Swedish government and the Riksbank pushing for a “cashless society.” The Riksbank has over 1,000 articles posted on its website on the “cashless society“. The emphasis worked: between 2013 and 2017, the amount of cash in circulation dropped […]
Event Risk
Event Risk In rare moments markets face major event risk, in even rarer moments the event risk is well advertised in advance and the risk implies massive potential moves in either direction.Markets are faced with such a moment right now: The outcome of the China negotiations. Ever since Donald Trump tweeted out new tariff threats […]
Artificial & Fragile Market Very Dangerous – Michael Pento
Artificial & Fragile Market Very Dangerous – Michael Pento By Greg Hunter’s USAWatchdog.com Money manager Michael Pento says don’t confuse a near record high stock market with strength and resiliency. What we have is just the opposite, as Pento explains, “There are some people who will listen to this and say, ‘Hey Mr. Pento, why are […]
The Trade War Is Back
The Trade War Is Back President Trump shocked markets yesterday when he announced that a new, heavy round of tariffs on Chinese goods will take effect this Friday. Complacent markets had assumed that a trade deal would get done, that it was just a matter of sorting out the details. Now that is far from […]
America Needs A Debt Jubilee
America Needs A Debt Jubilee As school children my friends and I were very interested in archaeology and ancient civilizations. We read all the available books. My best friend intended to become an archaeologist and to explore ancient ruins about which we imagined more than we actually knew. As far as I can discern these […]
The Next Major Shift in Society
The Next Major Shift in Society QUESTION: Do you see this new age of the internet destroying jobs that result in a Great Depression as you have illustrated with the advancement of the combustion engine in altering the agricultural economy as we move into the future? What is the future for our children? Thank you KL […]
When Deutsche Bank’s Crisis Becomes Our Crisis
When Deutsche Bank’s Crisis Becomes Our Crisis Our friends in Europe seem totally incapable of addressing their failing financial sector. And that’s not good for anyone. By anandoart/Shutterstock Americans generally think of Europe first as a wonderful place to visit. They rarely ponder the economic and financial ties between the United States and European Union, but […]
Recession Already in Place, Watch Out – John Williams
Recession Already in Place, Watch Out – John Williams You might be wondering why the Trump Administration is calling for rate cuts and money printing with all the good news about the economy. Economist John Williams of ShadowStats.com knows why and contends, “We have a recession in place. It’s just a matter of playing out […]
Uncertain Future for Monetary Policy as POTUS Publicly Calls for Rate Cut While Fed Holds Steady
Photo by The White House Uncertain Future for Monetary Policy as POTUS Publicly Calls for Rate Cut While Fed Holds Steady On Tuesday, POTUS took to Twitter and called for the Fed to cut rates by 1%, pointing to 3.2% GDP growth and “wonderfully low inflation.” ✔ China is adding great stimulus to its economy while […]
Why Fed Chair Powell is a Laughingstock
Why Fed Chair Powell is a Laughingstock Fake Work Clarity. Simplicity. Elegance. These fundamentals are all in short supply. But are they in high demand? As far as we can tell, hardly a soul among us gives much of a rip about any of them. Instead, nearly everyone wants things to be more muddled, more […]
The Rich Get Richer when Central Banks Print Money
The Rich Get Richer when Central Banks Print Money The Netherlands Central Bank has just published a fascinating new paper, titled “Monetary policy and the top one percent: Evidence from a century of modern economic history”. Authored by Mehdi El Herradi and Aurélien Leroy, (Working Paper No. 632, De Nederlandsche Bank NV: https://www.dnb.nl/en/binaries/Working%20paper%20No.%20632_tcm47-383633.pdf), the paper “examines […]
Pipeline Bottlenecks Cost Canadian Producers $20 Billion
Pipeline Bottlenecks Cost Canadian Producers $20 Billion Canada has plenty of oil, and demand is high, but the Canadian oil industry has nevertheless taken a major hit this year thanks to its persisting pipeline bottleneck. The Albertan oil industry has long been plagued by insufficient pipeline volumes but has not been able to fix the […]
Central Banks Don’t Matter
Central Banks Don’t Matter “There is no money in monetary policy.” Could it be true? Is there no money in monetary policy? Yesterday we argued the Federal Reserve cannot even define money… much less measure it to any reasonable satisfaction. Today we venture upon a heresy deeper still — that central bank “monetary” policy has […]
Weekly Commentary: Transitory Histrionics
Weekly Commentary: Transitory Histrionics May 3 – Financial Times (Sam Fleming): “Having lamented low inflation as one of the great challenges facing central bankers today in March, Jay Powell on Wednesday wrongfooted many investors with comments that seemed to play down the gravity of the problem. The new message from the Federal Reserve chairman — […]
MORE TROUBLE IN MEXICO: Second Largest Silver Mine Suspended Operations
MORE TROUBLE IN MEXICO: Second Largest Silver Mine Suspended Operations In just a little more than a week after the mighty Newmont-Goldcorp merger was finalized, the company suspended operations of its largest gold-silver mine in Mexico. The Penasquito Mine, which produced more than a 500,000 ounces of gold and 25 million ounces of silver in […]
