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War On Cash Escalates: China Readies Digital Currency, IMF Says “Extremely Beneficial”
War On Cash Escalates: China Readies Digital Currency, IMF Says “Extremely Beneficial” Remember when Bitcoin and its digital currency cohorts were slammed by authorities and written off by the elite as worthless? Well now, as the war on cash escalates, officials from The IMF to China are seeing the opportunity to control the world’s money […]
The International War on Cash
The International War on Cash Back in 2008, I began warning of increasing capital controls that we would see in the future, as a component in the decline of Western economies (Western in the broad sense, including Japan, Australia, etc.) Along the way, it occurred to me that, at some point, governments might collectively attempt […]
The Risks of the War on Cash
The Risks of the War on Cash “Quick and easy is winning the war.” On January 1st, Londoners woke up to a rather perplexing reality: all of the cashless Oyster card readers on the city’s buses, rail and tube stations had stopped working. With cash as good as banished from the London transport system, attendants […]
Voluntary Enslavement
Voluntary Enslavement In recent years, I’ve been predicting that the governments, particularly those of the EU and US, will seek to eliminate paper currency. The objective will be to make monetary transactions between private parties as difficult as they can, by requiring that all transactions take place through financial institutions. If they can do this, […]
More Canadians Going Cashless Thanks To Apps, Credit And Debit Cards
More Canadians Going Cashless Thanks To Apps, Credit And Debit Cards TORONTO — Maureen Turner still makes a point of carrying coins and bills in her wallet — but not for her own personal use. “I have four kids, and often the teenagers will say: ‘I need $20 for lunch at school,'” says the Georgetown, […]
ECB & The Failed QE Stimulus
ECB & The Failed QE Stimulus The central banks are simply trapped. They have bought in bonds under the theory that this will stimulate the economy by injecting cash. But there are several problems with this entire concept. This is an elitist view to say the least for the money injected does not stimulate the […]
Hang Onto Your Wallets: Negative Interest, the War on Cash, and the $10 Trillion Bail-in
Hang Onto Your Wallets: Negative Interest, the War on Cash, and the $10 Trillion Bail-in In uncertain times, “cash is king,” but central bankers are systematically moving to eliminate that option. Is it really about stimulating the economy? Or is there some deeper, darker threat afoot? Remember those old ads showing a senior couple lounging on […]
Technically Speaking: The Real Value Of Cash
Technically Speaking: The Real Value Of Cash With the “inmates running the asylum” during a holiday-shortened trading week, the upward bias to the market is set to continue. However, as I addressed last week: “As we progress through the last two months of the year, historical tendencies suggest a bias to the upside. This is particularly the case given […]
Fractional-Reserve Banking is Pure Fraud, Part I – Jeff Nielson
Fractional-Reserve Banking is Pure Fraud, Part I This is a commentary which should never have needed to be written. What is euphemistically called “fractional-reserve banking” is obvious fraud, and obvious crime. By its very definition; it transforms the banking sector of an economy into a leveraged Ponzi-scheme, and as with all Ponzi-schemes, there is no […]
Who Exactly is Trying to Kill off Cash?
Who Exactly is Trying to Kill off Cash? In the Irish city of Cork, business leaders recently launched a three-month pilot project to encourage consumers to abandon the archaic use of cash by offering the chance to enter into a prize draw if they use electronic means of payment. It is a cheap, almost insulting inducement, but […]
Hang Onto Your Wallets: Negative Interest, the War on Cash, and the $10 Trillion Bail-in
Hang Onto Your Wallets: Negative Interest, the War on Cash, and the $10 Trillion Bail-in In uncertain times, “cash is king,” but central bankers are systematically moving to eliminate that option. Is it really about stimulating the economy? Or is there some deeper, darker threat afoot? Remember those old ads showing a senior couple lounging on […]
They’re coming for your cash
They’re coming for your cash It might sound like a conspiracy theory spun by right-wing crazies. But judging by the increasing desperation of governments to reboot the world economy, it just might happen. “It” is the recall or confiscation of cash, i.e., dollars, euros, pounds, etc., in physical form. And a key justification that those […]
If We Don’t Change the Way Money Is Created and Distributed, Rising Inequality Will Trigger Social Disorder
If We Don’t Change the Way Money Is Created and Distributed, Rising Inequality Will Trigger Social Disorder Centrally issued money optimizes inequality, monopoly, cronyism, stagnation, low social mobility and systemic instability. If we don’t change the way money is created and distributed, wealth inequality will widen to the point of social disorder. Everyone who wants […]
Bank Of Ireland Bans “Small” Cash Withdrawals At Branches
Bank Of Ireland Bans “Small” Cash Withdrawals At Branches As central planners the world over grapple with the effective “lower bound” that’s imposed by the existence of physical banknotes, there’s been no shortage of calls for a ban on cash. Put simply, if you eliminate physical currency, you also eliminate the idea of a floor […]
