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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 […]
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 […]
How money creation threatens hyperinflation
How money creation threatens hyperinflation In order to understand the relationship between money creation and the price level, we first need to get some definitions straight. To Austrians the terms inflation and deflation refer to money and not prices. There is no doubt that money has experienced unprecedented inflation. In February of 2010 base money […]
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 […]
What New Games Can Central Banks Play?
What New Games Can Central Banks Play? Does the Dollar Hold Enough Attraction to Break Out and Hold at Higher Levels? Now is the time to begin looking at the US dollar’s re-ascendance in a different light as we approach 1:1 against the euro. Shorter term we have to expect some possible panics around flat […]
Philip Haslam: When Money Destroys Nations
Philip Haslam: When Money Destroys Nations Understanding how currencies collapse The global debt glut, plus the related money printing efforts by the world’s central banks to try to stimulate further credit growth at all costs, leads us to conclude that a major currency crisis — actually, multiple major currency crises — are practically inevitable at […]
Vladimir Putin Proposes “Eurasian” Currency Union
Vladimir Putin Proposes “Eurasian” Currency Union While the distraction that is the stock market continues to enthrall most Americans, the big shots in the global monetary which for now are taking place behind the scenes, are getting ever louder. Several recent cases in point: US Attacks “Closest Ally” UK For “Constant Accommodation” With China De-Dollarization […]
Why The Dollar Is Rising As The Global Monetary Bubble Craters
Why The Dollar Is Rising As The Global Monetary Bubble Craters Contra Corner is not about investment advice, but its unstinting critique of the current malignant monetary regime does not merely imply that the Wall Street casino is a dangerous place for your money. No, it screams get out of harms’ way. Now! Yet I am […]
RED ALERT – IBM Moves to Create a Centralized, Central Bank Controlled Blockchain for Currency Control
RED ALERT – IBM Moves to Create a Centralized, Central Bank Controlled Blockchain for Currency Control International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the “blockchain,” to create a digital cash and payment system for major currencies, according to a person familiar with the matter. Unlike bitcoin, where the network […]
Debt-damned economics: either learn monetary reform, or kiss your assets goodbye (2 of 7)
Debt-damned economics: either learn monetary reform, or kiss your assets goodbye (2 of 7) The following is my high school teaching assignment for Advanced Placement Macroeconomics students (available as extra credit for other classes) on how money is created. I offer this for non-profit use; divided into seven sections: Instructions (1 of 7) Contextual orientation: […]
Currency Wars… Are Not Working
Currency Wars… Are Not Working While none of the current batch of currency-devaluing Central Bankers would admit that their policies are designed to weaken the currency, enhance competitiveness, and hail a new bright future of growth for their nation (by printing money), it is clear that is the chosen textbook-based path chosen. However, as the following […]
Dollars are worthless without crude oil
Dollars are worthless without crude oil In my previous post I drew some parallels between energy and money – and more specifically, energy and banking – and pointed out that when money is at stake, the presence of energy is likely lurking somewhere in the shadows. It was mostly hypotheses and observations I was throwing around about […]
