Home » Posts tagged 'Andrew Moran'

Tag Archives: Andrew Moran

Olduvai
Click on image to purchase

Olduvai III: Catacylsm
Click on image to purchase

Post categories

Post Archives by Category

ANALYSIS: Will Zimbabwe Pave the Way for Gold-Backed Money?

June 1, 2023

ANALYSIS: Will Zimbabwe Pave the Way for Gold-Backed Money?

People walk past the Reserve Bank of Zimbabwe building in Harare, Zimbabwe, on Feb. 25, 2019. (REUTERS/Philimon Bulawayo/File Photo)
People walk past the Reserve Bank of Zimbabwe building in Harare, Zimbabwe, on Feb. 25, 2019. (REUTERS/Philimon Bulawayo/File Photo)

Will gold rescue Zimbabwe from the ashes of economic despair and usher in a new economic era?

Since Zimbabwe declared independence from the former Republic of Rhodesia in 1980, the southern African country has been ravaged by inflation and overall economic turmoil. Over the past 40 years, the annual inflation rate has only touched single-digit territory twice: 1980 (7 percent) and 1988 (7 percent).

Excessive money printing, fiscal mismanagement, economic sanctions, and currency instability have been the root causes of its perpetual financial crisis, resulting in political and social upheaval.

In 2008, Zimbabwe was given the unfortunate record of the highest inflation rate in the world, touching 250 million percent. This forced then-President Robert Mugabe and his government to abandon the Zimbabwe dollar and begin relying on nine foreign currencies, particularly the U.S. dollar and the South African rand. In 2019, Harare introduced a new Zimbabwean currency, but it did not take long for the revival of hyperinflation, with the inflation rate surpassing 600 percent by March 2020.

After numerous trials and errors on the monetary policy front, the Reserve Bank of Zimbabwe (RBZ) experimented with something old and something new: a gold-backed digital currency.

“Pursuant to the resolution of the Monetary Policy Committee (the MPC) on 28 March 2023 to complement the issuance of physical gold coins with gold-backed digital products, the Bank wishes to advise that it will be issuing gold-backed digital tokens with effect from 8 May 2023,” said RBZ Governor John Mangudya in a statement. “The gold-backed tokens will be fully backed by physical gold held by the Bank.”

Central bank officials say this money will be supported by 140 kilograms (4,900 ounces) of gold.

…click on the above link to read the rest…

The Globalists Have Declared War On Your Savings

November 11, 2019

The Globalists Have Declared War On Your Savings

The globalists are coming for your savings in order to “save” the economy. 

When any one of the plethora of bubbles burst – pick your poison – and the next financial crisis impacts Wall Street and Main Street, how will the central banks and federal governments react? They have fired all their unconventional rounds of bullets, from subzero interest rates to vast money-printing. One other proposal could conceivably be giving your deposits a haircut, much like what occurred in Cyprus following the recession. This dyspeptic vision is not hyperbole nor is it paranoia – the tariffs have raised the price of tinfoil! It is unfolding right now as our globalist overlords are executing, or at least entertaining, fiscal and monetary measures to confiscate your wealth – directly or indirectly.

Plugging Holes In Swiss Cheese

Switzerland is one of the few European nations to record a federal budget surplus. The budget for the fiscal year 2020 will record a $615 million surplus, despite imposing pension and tax reforms that slashed revenues and raised spending. The Swiss government is handcuffed by a so-called debt brake, a balanced-budget amendment that mandates the budget to be in balance throughout the business cycle. This policy has decreased the debt-to-gross domestic product ratio to nearly 25%.

Although national debt levels are still at multi-decade highs, the fact that the government is taking red ink seriously should be music to the ears of fiscal conservatives. But to others, it is headache-inducing.

The Organisation for Economic Cooperation and Development (OECD) published a new report that lamented on the nation’s unwillingness to spend like some of its European partners. Authors stated that the Swiss are saving too much and spending too little, despite possessing the third-highest gross domestic product (GDP) per capita of all OECD members. It asserted that policymakers could “increase expenditures” within the debt brake framework that “would serve monetary policy, and economic and social positive impact.”

 …click on the above link to read the rest of the article…

Is The Fed Trying To Sabotage Trump’s Re-Election?

August 30, 2019

Is The Fed Trying To Sabotage Trump’s Re-Election?

William Dudley is encouraging the Fed to prevent Trump’s re-election.

Imagine an organization that can grow an economy as fast it can destroy it. This institution can make presidents kings and then transform them into court jesters. The smartest men in a room situated on 2051 Constitution Ave can choose to increase the value of money in your wallet or make it worth less than single-ply generic brand toilet paper.

Well, this is not a fictitious body found in a dystopian novel. It is right here in the real world. It is the Federal Reserve System. Cue The Twilight Zonetheme song.

William Dudley

Burning Down Trump White House

Former New York Fed Bank President William Dudley recently penned a scathing op-ed on Bloomberg News titled “The Fed Shouldn’t Enable Donald Trump.” Dudley wrote that the central bank should refrain from bailing out Trump on the economy. He believes that the Eccles Building must cease enabling the administration by accommodating policy to Trump’s whims, otherwise, he warns, the country risks re-electing the president next year.

Dudley, who served as NYFRB head from 2009 to 2018, stated that his former employer needs to avoid coming to the president’s aid in his trade war with China. The tit-for-tat dispute has escalated over the last month, though both sides are ostensibly returning to the negotiating table. He explained that the Fed needs to send a clear message that it is Trump, not the Fed, bearing the risks and responsibility of the prolonged trade spat.

But the biggest revelation in Dudley’s piece is how far some people would go to stop Trump earning a second term.

 …click on the above link to read the rest of the article…

Are France And Germany About To Form An EU Superstate?

January 14, 2019

Are France And Germany About To Form An EU Superstate?

Inching ever closer towards an EUSSR.

As the fire rages on, the citizenry floods the streets, and political turmoil reigns supreme in Europe, French President Emmanuel Macron and German Chancellor Angela Merkel are telling everyone to please disperse because everything is fine and there’s nothing to see here.

Thanks to 2016’s historic Brexit vote, the European Union mandate is being threatened. Despite the denials emanating from left-leaning news outlets, other nations are interested in their own emancipation from Brussels, whether it is the growing Frexit movement or the Grexit push. It’s only a matter of time before this failed experiment enters the dustbins of history and will be remembered as fondly as the Ice Capades or Nickelback.

To stave off the eurozone’s inevitable demise, the bloc’s two biggest markets are in the beginning phases of forming a superstate, and it could present the next step toward global government. France and Germany will sign a so-called twinning pact at the end of January, an unprecedented policy maneuver that could serve as a blueprint for the future of the E.U.

Twinning

Under this new agreement, the two nations will share defense, economic, and foreign policies and unite in a diplomatic front.

Ministers from both governments will be permitted to sit in each other’s cabinet meetings, policies will be presented with the goal of moving towards economic convergence, and security forces will cooperate closely in tackling organized crime and terrorism. For now, the primary objective is to get Germany accepted as a permanent member of the United Nation’s Security Council.

Perhaps the most terrifying prospect of them all is the promotion of Eurodistricts. This will consist of the Franco-German partnership merging public transportation, water, and electricity networks.

…click on the above link to read the rest of the article…

A Libertarian’s Lament On The Government Behemoth

January 9, 2019

A Libertarian’s Lament On The Government Behemoth

As it turns out, we don’t really need the government to take care of us.

If it were not for the government, who would build the roads? Who would educate the children? Who would keep the parks clean? These questions usually are posed by progressives who think they have taken libertarians to task. We have already seen pizza companies maintaining the roads and private schools and homeschoolers doing an admirable job teaching students. Now, we’re learning that the free-enterprise system can keep parks, including government-run ones, clean.

These tourist dollars are essential to the survival of small businesses…

Keeping Yellowstone Clean

Because the government has been partially closed for nearly three weeks, several national parks have been pretty much abandoned. Without staff on hand, the trash is piling up, and bathrooms look like they’re managed by an uncouth teenager working at 7-Eleven. Access is now free since no one is available to collect the $35-per-car fee. The trade-off, however, is a dirty park.

Well, except if you’re visiting Yellowstone National Park in Wyoming or Montana.

Yellowstone attracts roughly 30,000 visitors every month, even in the middle of winter, contributing $18.2 billion to the local economy. These tourist dollars are essential to the survival of small businesses, from restaurants to tour guides to snowmobile rentals. Just be careful of that guy in a wagon claiming that Yellowstone will be the epicenter of the apocalypse!

Residents near Yellowstone set up to help clean park during shutdown

In other words, private enterprises in the area have an incentive to ensure Yellowstone continues to be accessible to tourists. So, what are they doing? These companies, led by Xanterra Parks and Resorts, are gathering funds to ensure the roads are maintained, the restrooms are packed with toilet paper, and the trash bins are emptied. They are even paying staff to work in the park.

…click on the above link to read the rest of the article…

Canada’s Forgotten Man: Energy Workers

January 7, 2019

Canada’s Forgotten Man: Energy Workers

All over the world, the forgotten man is rising up, reminding the ruling elite of his existence. Fed up with leaders catering to the whims of 0.05% of society, or instituting policies that impact their pocketbooks, the working folks of America, Italy, Brazil, and France are making sure their voices are heard in the political arena. This uncomfortable fact is sending shivers up and down their masters’ spines, including those in the Great White North.

Ivory Tower

For so long, Canadians were passive and apathetic about how they were treated by their rulers. They just drowned their sorrows of excessive taxation and abuse of the public purse in a Tim Hortons double-double and a plate of poutine. That’s just the way it is, they cried. There’s nothing to do, they grieved.

It is this level of arrogance that puts Trudeau and his minions out of touch with typical Canadians.

But then Prime Minister Justin Trudeau happened.

The trust fund baby is a man who continually talks down to those who are not like him. By encouraging young people to use “peoplekind,” openly wishing that Ottawa would embrace a Chinese-style government, and suggesting citizens with real concerns about Syrian migrants are racist, Trudeau has begun to light the populist spark from British Columbia to Newfoundland.

To truly comprehend the left’s disdain for blue-collar Canadians who do not accept the premises of leftist dogma, you will need to travel to Calgary, Alberta. At a recent demonstration of energy workers, Liberal Mayor Naheed Nenshi treated the crowd like kindergarteners:

“Well, for those of you who are saying, ‘No I don’t believe in climate change,’ good luck changing hearts and minds because we have to be able to say that there is no difference between standing up for the economy and standing up for the environment.”

…click on the above link to read the rest of the article…

Europe In Panic Mode Over Economy As USA Soars

November 11, 2018

Europe In Panic Mode Over Economy As USA Soars

The eurozone’s economic growth rate has slumped to a four-year low.

The eurozone could not borrow from the momentum of the U.S. economy in the third quarter as economic growth slumped to a tepid 0.2%, the slowest rate in more than four years. With the 19-nation currency bloc beginning to stagnate, and the heavyweights failing to post significant gains, Brussels is in panic mode, likely leaning on the European Central Bank (ECB) for further stimulus.

Economists originally anticipated growth of 0.4%. But global trade woes, tumbling business confidence, Italian distress, and the gradual dissipation of an accommodative monetary policy all contributed to the poor numbers in the July-September period.

…the eurozone is not prepared to contain a new financial crisis…

Italy fell into stagnation, failing to record any growth. Rome has been contending with a debt crisis, sending the yield (interest rates) on government bond prices higher. Officials are embroiled in a contentious battle with the EU because their borrowing plans violate the trade bloc’s rules. There is now talk of a Keynesian-style fiscal stimulus to rev up the national economy.

France, which endured a terrible first half, reported a 0.4% increase, lower than the market forecast of 0.5%. The economy gained on surging business investment, household consumption, and net trade. While the figures are commendable, French Finance Minister Bruno Le Maire did not help matters when he suggested that the eurozone is not prepared to contain a new financial crisis, adding that “it is in no one’s interest that Italy be in difficulty.”

Germany, the economic engine of the eurozone, will not publish its Q3 numbers until mid-November. But the Bundesbank has warned that growth might have flat-lined in the previous quarter. Researchers do predict a recovery for Berlin in the final quarter of 2018, driven by a resurgence in the automobile sector and falling unemployment.

…click on the above link to read the rest of the article…

Olduvai IV: Courage
Click on image to read excerpts

Olduvai II: Exodus
Click on image to purchase

Click on image to purchase @ FriesenPress