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IPFS News Link • Currencies

Are You Prepared for "Financial Prohibition"?

• LewRockwell

We'll tell you Monday. That will give us time to figure it out…

In the meantime, remember: Cash is king. It's one of the best-performing major asset classes this year. (More on that below in today's Market Insight…)

It's also – by far – the safest.

Even billionaire investor Carl Icahn is now urging investors to get into cash. Cash will someday disappoint us. But probably not today… or tomorrow.

The War on Cash

But the authorities don't like cash…

As we've been warning Bill Bonner Letter readers, the feds have a bitter animosity toward cash. It has almost become a religious creed. Like the Temperance League's attitude toward alcohol, the feds are afraid that cash is a pernicious temptation, leading to sin and suffering.

People have a "propensity to save," they say. This, they believe, causes all sorts of social ills – from poverty to unemployment.

Fortunately, the feds are there to protect us. They fight this weakness in the human character with a variety of measures.

Zero-interest-rate policy (ZIRP), for example.


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