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Financial Markets Definitely Destabilizing – Charles Hugh Smith
Financial Markets Definitely Destabilizing – Charles Hugh Smith Financial writer and book author Charles Hugh Smith has been watching the extreme movements in financial markets closely. Is he nervous? Smith says, “Oh yeah, it’s definitely destabilizing. In other words, it’s becoming not just more volatile, the whole underlying structure of our economy is destabilizing. What […]
Hackers Used SWIFT To Steal $6 Million From Russian Bank
Hackers Used SWIFT To Steal $6 Million From Russian Bank In the latest revelation about the Society for Worldwide Interbank Telecommunication’s vulnerability to hackers – who’ve stolen tens of millions of dollars from banks and central banks mostly by stealing the special private keys used to sign off on transactions – Russian authorities revealed that […]
From the Moneyness Blog: Electronic Money Will Only Save Central Banks From Subjugation if it is Anonymous
FROM THE MONEYNESS BLOG: ELECTRONIC MONEY WILL ONLY SAVE CENTRAL BANKS FROM SUBJUGATION IF IT IS ANONYMOUS 50 SEK banknote issued by the Riksbank in 1960 “Do we need an eKrona?” asks Stefan Ingves, the Governor of the Riksbank, Sweden’s central bank. The Riksbank is probably the central bank that has advanced the furthest in discussions surrounding […]
Really Bad Ideas, Part 6: Money That “Rots And Rusts”
Really Bad Ideas, Part 6: Money That “Rots And Rusts” In the next downturn (which may have started last week, yee-haw), the world’s central banks will face a bit of poetic justice: To keep their previous policy mistakes from blowing up the world in 2008, they cut interest rates to historically – some would say […]
QE…The Gift That Just Kept Giving…Is Now Taking
QE…The Gift That Just Kept Giving…Is Now Taking I know the Federal Reserve doesn’t effectively create money or directly monetize. I know this because then Fed chief, Ben Bernanke, told us so (HERE). But still, something has me wondering about that exchange, now almost a decade ago. The simplest of math. The plan to utilize quantitative […]
The Rowboat (Wages) and the Yacht (Assets)
The Rowboat (Wages) and the Yacht (Assets) As I keep saying: the status quo has divested the working and middle classes. The reason why the status quo has failed and is fragmenting is displayed in these three charts of wages, employment and assets: wage earners (labor) are in a rowboat trying to catch the yacht […]
Energy, Money and Technology–From the Lens of the Superorganism
Energy, Money and Technology–From the Lens of the Superorganism During Nate Hagens’ #WEP2018 keynote, he discussed how all of our lives will be influenced by how we react to the coming era of harder to extract and more costly fossil fuels that will be combined with cleaner but more stochastic energy types. Ed. note: The […]
Why the Dollar is the Mainstay of the World Economy
Why the Dollar is the Mainstay of the World Economy QUESTION: A friend told me the one pound coins I have from a trip to Britain last year were canceled. How can a government simply cancel its money? KL ANSWER: Oh yes. Britain canceled the one pound coins last October. They estimated that £400-450 million […]
Fever Pitch
Fever Pitch In case you’re worked up about the looming federal government shut-down, this is exactly how we’re supposed to roll in the long emergency: everything organized at the gigantic scale is going to wobble and fail. It’s nature’s way of saying, “get smaller, get realer, scale down, and get local.” The catch is, we […]
The Aristocratic Illusion
The Aristocratic Illusion They’re not as smart as they think they are. If you draw your sustenance from the government—as an employee, contractor, or beneficiary of redistributed funds—the money you receive comes from someone who had no choice whether or not you got paid. Except for those jobs the government mandates, private sector workers’ compensation […]
As the Controlled Inflation Scheme Rolls On
As the Controlled Inflation Scheme Rolls On Controlled Inflation American consumers are not only feeling good. They are feeling great. They are borrowing money – and spending it – like tomorrow will never come. After an extended period of indulging in excessive moderation (left), the US consumer makes his innermost wishes known (right). [PT] On Monday the Federal Reserve […]
