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For Heaven’s Sake: Hedge!
For Heaven’s Sake: Hedge! If you’re not positioned defensively by now, you’re nuts Q: How do you make a small fortune on Wall Street? A: Start with a large fortune. ~ old investing adage Last fall, I wrote an article titled Defying Gravity that warned of the absurd price levels that stocks and bonds had risen to. […]
The War on Cash: Transparently Totalitarian
The War on Cash: Transparently Totalitarian George Orwell once wrote “If you want a picture of the future, imagine a boot stamping on a human face—forever.” Not exactly a cheery thought, and one I don’t agree with. While the forces pushing for centralization of power have been prevailing for decades, they haven’t won a total victory […]
Prove You’re Not a Terrorist
Prove You’re Not a Terrorist Recently, France decided to crack down on those people who make cash payments and withdrawals and who hold small bank accounts. The reason given was, not surprisingly, to “fight terrorism,” the handy catchall justification for any new restriction governments wish to impose on their citizens. French Finance Minister Michel Sapin stated at the time, […]
The End Is Near, Part 1: The “War On Cash”
The End Is Near, Part 1: The “War On Cash” As the saying goes, you can know a person by the quality of his or her enemies. This is also true of societies, where moral evolution can be traced by simply listing the things on which they declare war. Not so long ago, for instance, […]
The “War on Cash” in 10 Spine-Chilling Quotes
The “War on Cash” in 10 Spine-Chilling Quotes The war on cash is escalating. As Mises’ Jo Salerno reports, the latest combatant to join the fray is JP Morgan Chase, the largest bank in the U.S., which recently enacted a policy restricting the use of cash in selected markets; bans cash payments for credit cards, […]
The “War on Cash” Migrates to Switzerland
The “War on Cash” Migrates to Switzerland Banks Increasingly Refuse Cash Withdrawals – Switzerland Joins the Fun The war on cash is proliferating globally. It appears that the private members of the world’s banking cartels are increasingly joining the fun, even if it means trampling on the rights of their customers. Yesterday we came across […]
Largest Bank In America Joins War On Cash
Largest Bank In America Joins War On Cash The war on cash is escalating. Just a week ago, the infamous Willem Buiter, along with Ken Rogoff, voiced their support for a restriction (or ban altogether) on the use of cash (something that was already been implemented in Louisiana in 2011 for used goods). Today, as Mises’ Jo Salerno […]
Corporate America’s Millstone of Too Much Cash
Corporate America’s Millstone of Too Much Cash Corporate America is flush with cash. Amazing amounts of cash. According to research house FactSet, the combined cash balances of just the 500 companies in the S&P 500 is sitting at a record $1.4 trillion. That’s a mountain of cash, but here’s some perspective on just how much […]
Steen Jakobsen: Get Ready For The Biggest Margin Call In History
Steen Jakobsen: Get Ready For The Biggest Margin Call In History A recommendation to move to cash Economist Steen Jakobsen, Chief Investment Officer of Saxo Bank, believes 2015 will be another “lost year” for the economy. And he predicts the Federal Reserve will indeed start to raise rates later this year, surprising the market and […]
Another Shill for Statism and Central Planning Demands a Cash Ban
Another Shill for Statism and Central Planning Demands a Cash Ban Citigroup’s Chief Economist Joins the Cash Ban Bandwagon We have discussed the views of Citigroup’s chief economist Willem Buiter previously in these pages (see “A Dose of Buiternomics” for details), on occasion of his coming out as a supporter of assorted monetary cranks, such […]
Santelli Stunned As Janet Yellen Admits “Cash Is Not A Store Of Value”
Santelli Stunned As Janet Yellen Admits “Cash Is Not A Store Of Value” Intended warning or unintended slip? After Alan Greenspan’s confessional admission that “Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it,” we found it remarkable that during the Q&A after her speech […]
Will Cash Always Be Trash, Or Will It One Day Be King?
Will Cash Always Be Trash, Or Will It One Day Be King? When the phantom wealth evaporates and risk assets go bidless, cash will once again be king, for the simple reason there will be so little of it. Occasionally it’s a good idea to step away from the daily grind to consider the larger […]
Fighting the “War on Terror ” by Banning Cash
Fighting the “War on Terror ” by Banning Cash It was just a matter of time before Western governments used the trumped up “War on Terror” as an excuse to drastically ratchet up the very real war on the use of cash and personal privacy that they are waging against their own citizens Taking […]
Greeks Spooked by Debt Clashes Put Cash Under Bathroom Tiles
Greeks Spooked by Debt Clashes Put Cash Under Bathroom Tiles (Bloomberg) — Georgios Karavelas drives a taxi in Athens and for the past month has been a silent witness to what ordinary Greeks are doing with their cash. One passenger, he said, told someone on his mobile phone that he’d withdrawn 25,000 euros from the […]
Keynesian Hit Men On The Road—–Krugman And Rogoff Peddling Toxic Advice | David Stockman’s Contra Corner
Keynesian Hit Men On The Road—–Krugman And Rogoff Peddling Toxic Advice | David Stockman’s Contra Corner. Here are a couple of reasons why Keynesian economists are truly a menace in today’s bubble ridden and debt-impaled world. It seems that both Harvard’s Kenneth Rogoff and Princeton’s Paul Krugman are on the global advice circuit, peddling what amounts to sheer […]
