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What A Cashless Society Would Look Like
What A Cashless Society Would Look Like Calls by various mainstream economists to ban cash transactions seem to be getting ever louder, while central bankers have unleashed negative interest rates on economies accounting for 25% of global GDP, with $5.5 trillion in government bonds yielding less than zero. The two policies are rapidly converging. Bills and coins account for […]
Capital Controls Are Coming
Capital Controls Are Coming The carnage always comes by surprise, often on an otherwise ordinary Saturday morning… The government declares a surprise bank holiday. It shuts all the banks. It imposes capital controls to stop citizens from taking their money out of the country. Cash-sniffing dogs, which make drug-sniffing dogs look friendly, show up at […]
Europe Moving Into Meltdown?
Europe Moving Into Meltdown? QUESTION: Marty, now the OECD is predicting a financial crash worse than the 2007-2009 event in Europe because they say there is over €1 trillion in bad loans that cannot be collected. They seem to be also changing their opinion to fit your model. Were they there in Berlin? ANSWER: We cannot comment on […]
Yanis Varoufakis Reveals – Berlin Blocked Greece From Chinese Funding During Crisis
Yanis Varoufakis Reveals – Berlin Blocked Greece From Chinese Funding During Crisis Hundreds of millions of people throughout the Western world are being forced to admit an obvious, yet uncomfortable reality. Democracy is dead. Your vote and your voice doesn’t matter. Not at all. No group of people understand this as intimately as the Greeks. They voted […]
Italy, Greece, Financials Crash As European Stocks, Peripheral Bonds Plunge
Italy, Greece, Financials Crash As European Stocks, Peripheral Bonds Plunge Led by a broad-based collapse in financial stocks, European markets extended and accelerated their plunge today. Thanks to the increased systemic linkages enforced by The ECB, peripheral sovereign risk is spiking as their national banking systems crash. Every European nation is now in at least correction since the end […]
The Cost Of China’s “Neutron Bomb” Exploding: $7.7 Trillion And Higher
The Cost Of China’s “Neutron Bomb” Exploding: $7.7 Trillion And Higher On Friday we presented Kyle Bass’ latest interview in which the Texas hedge fund manager explained the reasoning why he thought shorting the Yuan is the “greatest investment opportunity right now.” The crux behind the argument was well-known to Zero Hedge readers, namely China’s […]
Greece’s Two Currencies
Greece’s Two Currencies ATHENS – Imagine a depositor in the US state of Arizona being permitted to withdraw only small amounts of cash weekly and facing restrictions on how much money he or she could wire to a bank account in California. Such capital controls, if they ever came about, would spell the end of […]
Puerto Rico Is Greece, & These 5 States Are Next To Go
Puerto Rico Is Greece, & These 5 States Are Next To Go As Wilbur Ross so eloquently noted, for Puerto Rico “it’s the end of the beginning… and the beginning of the end,” as he explained “Puerto Rico is the US version of Greece.” However, as JPMorgan explains, for some states the pain is really just beginning as Municipal bond […]
Spain has Fallen – not like Greece – but Fallen all the Same
Spain has Fallen – not like Greece – but Fallen all the Same The Spanish elections – 20 December – were a deceit and a farce. Nobody seems to notice. At least not those concerned, the ignorant electorate, those who will suffer again possibly under a new neoliberal Rajoy leadership. People forget and are vulnerable […]
Turkish, Greek Jets Engage In Dogfight Over Mediterranean
Turkish, Greek Jets Engage In Dogfight Over Mediterranean Turkey is no stranger to aerial conflict of late. After months of back and forth banter between Ankara and Moscow regarding supposed Russian incursions into Turkish airspace, Erdogan finally “went there” on November 24 when Turkish F-16s shot down a Russian Su-24 near the border with Syria. […]
The One Percent Rallies Behind IMF Director Christine LaGarde
The One Percent Rallies Behind IMF Director Christine LaGarde Washington removed Dominique Strauss-Kahn as the leading contender for the French presidency and as director of the IMF by framing him on phony charges of raping a New York hotel maid. The obviously false charge was proven to be totally fabricated and had to be dropped. […]
The Great Greek Bank Robbery
The Great Greek Bank Robbery ATHENS – Since 2008, bank bailouts have entailed a significant transfer of private losses to taxpayers in Europe and the United States. The latest Greek bank bailout constitutes a cautionary tale about how politics – in this case, Europe’s – is geared toward maximizing public losses for questionable private benefits. […]
World Leaders Just Agreed To A “Historic” Climate Accord… Which Is Non-Binding And Has No Enforcement Language
World Leaders Just Agreed To A “Historic” Climate Accord… Which Is Non-Binding And Has No Enforcement Language Great news! The “greatest threat to future generations of the world” has apparently been solved. World leaders Saturday adopted an historic international climate accord in Paris, the first-ever agreement to commit almost every country to fight climate change. […]
Weimar Greece – The Effects of a Currency Collapse
Weimar Greece – The Effects of a Currency Collapse Cash is a scarce commodity in Greece. In June, Greek banks declared a surprise limitation on how much could be withdrawn from an account. At present, the government still limits the cash withdrawals of Greeks. And, of course, this is just the most recent in a […]
Greece Is A Nation Under Occupation
Greece Is A Nation Under Occupation Perhaps the best way to show what a mess Europe is in is the €3 billion deal they made with Turkey head Erdogan, only to see him being unmasked by EU archenemy Vlad Putin as a major supporter, financial and who knows how else, of the very group everyone’s […]
