The "War on Cash" Migrates to Switzerland
• https://www.lewrockwell.com, By Pater TenebrarumBanks Increasingly Refuse Cash Withdrawals – Switzerland Joins the Fun
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Banks Increasingly Refuse Cash Withdrawals – Switzerland Joins the Fun
More than €2 trillion-worth of eurozone government bonds trade on a negative interest rate. It's a bubble that is bound to end badly
Japan continues to provide the best refutation of monetary policy as anything other than destructive.
As regular readers are no doubt aware, a long-running theme here has been the vicious deflationary feedback loop inadvertently created by DM central bank policy.
As regular readers are no doubt aware, a long-running theme here has been the vicious deflationary feedback loop inadvertently created by DM central bank policy.
Wide-spread destruction is not what one of the world's poorest nations needed only weeks before monsoon season.
In what future generations will likely see as a major, potentially catastrophic blunder of monetary policy, the West and particularly the City of London continues to hemorrhage huge volumes of gold which is flowing Eastwards to Singapore, India and C
The US Energy Department prepares a wave of LNG gas permits in the latest move to redraw the world's oil and gas landscape
CASH BANS GROW AS CENTRAL BANKERS PLAN CENTRALIZED FUTURE: BITCOIN TO THE RESCUE?
In the first 3 months of 2015, McDonalds saw a 2.3% decrease in sales and a 28% drop in operating revenue, continuing a trend of loss that the company has been experiencing for years.
Richest 1,000 families control total of £547bn, rising by more than 112% since 2009, and own more than poorest 40% of British households
In a move 100% guaranteed to blow up at a later date, the ECB Said to Start Buying Covered Bonds With Negative Yields.
Banking has been fundamentally unsound ever since the first central bank was created. That's when bankers started making promises they couldn't keep.
Spain's Unemployment Rate Increases to 23.7%; 114,300 Jobs Vanish in First Quarter, Public Sector Jobs Rise
Winston Churchill once said, "I feel lonely without a war." He also badly missed the loss of empire. Churchill's successor - the "Empire of Chaos" - now faces the same quandary. Some wars - as in Ukraine, by proxy - are not going so well.
If a major financial crisis was approaching, we would expect to see the "smart money" getting out of stocks and pouring into government bonds that are traditionally considered to be "safe" during a crisis.
If you didn't know any better you might think "Grimbo" was a new Sesame Street character.
And so another historic scandal involving the manipulation and rigging of one of the most important global markets, that of Libor which is the reference security for several hundred trillion in derivatives, goes in the history books.
One of the distinguishing marks of a formally trained historian is his rejection of what is known as the conspiracy view of history. Academia generally discourages such views.
Simple...
Simple...
Publisher: "What she said".
Humorous Lies of the Day; Capital Controls Likely Soon
In what seems like a coincidental retaliation for Greece's pivot to Russia (and following Greece's initiation of capital controls), the supposedly independent European Central Bank has decided suddenly that -
Greece had only two alternatives: default on their creditors like the IMF or default on their citizens. The confiscation prevented a default on citizens, at least for another few weeks - it owes another €1bn to the IMF in first half of May
It appears that Herr Schaeuble will be left in the cold as following comments from the Greek energy minister that a deal is coming "soon," ...
It appears that Herr Schaeuble will be left in the cold as following comments from the Greek energy minister that a deal is coming "soon," ...
Futures Surge On First Chinese State Bankruptcy, Greek Capital Controls And Approaching Default
Just hours after Chinese property developer Kaisa defaulted on two dollar-denominated 2018 notes (the 30-day grace period on some $52 million in interest due March 18 expired)...
Mario Draghi said this week that the transmission channels for European Q€ were opening up and crowed how well his cunning plan was working (by well we assume he means stocks are up).