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Tag Archives: fiat currency
The Fed’s Fatal Flaw: A Predictable End
The Fed’s Fatal Flaw: A Predictable End So last week a very savvy investor asked me my view (h/t Simon Popple) on – When and what will break the chains on gold by those seemingly omnipotent forces that so assuredly keep its price in check? In essence, the belief is (and I expect for most honest and […]
“If It Looks Like A Duck” – The Man In The Moon: Part 2
“If It Looks Like A Duck” – The Man In The Moon: Part 2 In part 2 of the “Man in the Moon” series we look at Paul Volcker’s roundtrip – monetary policies and their impacts from 1971 through the Great Leveraging to today. Part 1 can be found here. If it Looks Like a Duck… […]
Euro-sclerosis
Euro-sclerosis There appears to be little or nothing in the monetarists’ handbook to enable them to assess the risk of a loss of confidence in the purchasing power of a paper currency. Furthermore, since today’s macroeconomists have chosen to deny Say’s Law1, otherwise known as the laws of the markets, they have little hope of […]
Greece Owes $1.2 Billion To Drugmakers As Government Can No Longer Afford Basic Medical Supplies
Greece Owes $1.2 Billion To Drugmakers As Government Can No Longer Afford Basic Medical Supplies Talks between Greece and its creditors went full-retard on Wednesday when the following soundbite from Canada’s FinMin Joe Oliver hit the wires: “No Greek payment to IMF would be default to IMF” That seemed self-evident to us, but in a world governed […]
An Insane Financial World
An Insane Financial World We know that most western governments are deficit spending, borrowing heavily, in debt beyond the point of no return and must increase taxes and appropriations from their citizens. We know that politicians will take the politically expedient path instead of addressing financial problems. We know they will “extend and pretend,” delay, […]
“Cash Is Coined Freedom”: War on Cash Becomes Official in Germany, Reaches G-7, Draws Withering Fire
“Cash Is Coined Freedom”: War on Cash Becomes Official in Germany, Reaches G-7, Draws Withering Fire It came from a voice that has, by law, the ear of the German government. Peter Bofinger is a member of the German Council of Economic Experts – the “Five Sages on the Economy” – which in its official […]
Money is Coined Liberty – The Latest Salvos in the War on Cash
Money is Coined Liberty – The Latest Salvos in the War on Cash Another Keynesian Voodoo Economist Wants to See Cash Abolished We have a few more bad news and for a change also some good news with respect to the ongoing attempt to prepare the ground for a ban of cash currency. By now […]
Abolishing Cash – New Age of Economic Totalitarianism
Abolishing Cash – New Age of Economic Totalitarianism Europe is moving full speed ahead to eliminate all cash. Instead of reforming and tackling the economic problems, government always seeks to maintain the same course of thinking that now leads us to the totalitarian approach coming from Brussels. To maintain the euro, they must maintain the […]
Canadians pay cash less than half the time, Bank of Canada calculates
Canadians pay cash less than half the time, Bank of Canada calculates Credit cards get big boost as Canadians shun the ATM Cash is no longer king for Canadians when it comes to paying for retail transactions. A study released today by the Bank of Canada shows that less than half of our purchases are […]
The trouble with cash
The trouble with cash When interest rates are zero and it costs a bank to look after your money it becomes an unattractive asset. Banks in some jurisdictions (such as Switzerland, Denmark and Sweden) are even charging customers interest on cash and deposits. And if you go to your bank and withdraw large amounts in […]
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, […]
Gold, the SDR and BRICS
Gold, the SDR and BRICS Last Monday there was a meeting in Washington hosted by the Official Monetary and Financial Institutions Forum (OMFIF) to discuss the future relationship, if any, of gold with the Special Drawing Rights1 (SDR). Also on the agenda was the inclusion of the Chinese renminbi, which seems certain to be included in […]
Keep Pushing Until Something Really BIG Breaks?
Keep Pushing Until Something Really BIG Breaks? The minutes of the FOMC’s March meeting make clear just how hard it is for the Fed to even think about the possibility of unwinding what they’ve wrought. After six-plus years of interest-rate repression, absurdity has become the established norm. Now they can’t even figure out how to get out of it […]
Spelling Out The Big Reset
Spelling Out The Big Reset As economies age, debt builds up. Advanced economies – those with the highest borrowing ratings by the reputable agencies they developed – have it clogging up inside all their arteries. The Big Reset will finally become inevitable, as has been acknowledged by the IMF head Largarde, mentioning the year 2020. […]
