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Olduvai III: Catacylsm
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How the Crisis Caused a Pension Train Wreck

How the Crisis Caused a Pension Train Wreck We’ve been writing for some time that one of the consequences of the protracted super-low interest rate regime of the post crisis era was to create a world of hurt for savers, particularly long-term savers like pension funds, life insurers and retirees. Even though the widespread underfunding […]

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Visa Trying to Bribe Merchants to Stop Taking Cash

Visa Trying to Bribe Merchants to Stop Taking Cash The war on cash is escalating. A big driver isn’t central banks who want to be able to inflict negative interest rates on savers, or Treasuries who see cash transactions as hiding revenues from their tax collectors, but the payment networks that want to kill cash […]

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Visa Trying to Bribe Merchants to Stop Taking Cash

Visa Trying to Bribe Merchants to Stop Taking Cash The war on cash is escalating. A big driver isn’t central banks who want to be able to inflict negative interest rates on savers, or Treasuries who see cash transactions as hiding revenues from their tax collectors, but the payment networks that want to kill cash […]

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The Status Quo Plan – Convince the American Public to Accept Serfdom

The Status Quo Plan – Convince the American Public to Accept Serfdom Earlier today I came across a fantastic article published at Naked Capitalism by a writer known as Gaius Publius. Yves Smith introduces the piece with the following poignant passage: Let us not forget that the “things are going to get worse for you” story also conveniently […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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