By Simon Black Just stunning. German newspaper Der Spiegel reported yesterday that the Bavarian Banking Association has recommended that its member banks start stockpiling PHYSICAL CASH. Europe, of course, has been battling with negative interest rates for quite some time. What this means is that commercial banks are being charged interest for holding wholesale deposits at … Continue reading
By John Browne, Euro Pacific Capital On February 16th, The Washington Post printed the article, “It’s time to kill the $100 bill.” This came on the heels of a CNNMoney item, the day before, entitled “Death of the 500 euro bill getting closer.” The former cited a recent Harvard Kennedy School working paper, No. 52 by Senior … Continue reading
By Nick Giambruno This definitive sign of a currency collapse is easy to see… When paper money literally becomes trash. Maybe you’ve seen images depicting hyperinflation in Germany after World War I. The German government had printed so much money that it became worthless. Technically, German merchants still accepted the currency, but it was impractical … Continue reading
Regulators in Japan have proposed considering and treating virtual currencies, such as bitcoin, as methods of payment and settlement similar to conventional fiat currencies. Japan’s Financial Services Agency (FSA) is considering legislative revisions that would recognize bitcoins and other digital currencies as equivalents to conventional currencies, citing that the revisions see bitcoin as “fulfilling the functions of currency,” … Continue reading
By Mac Slavo Earlier this month, as retail investors lost confidence in the global economy and broader stock markets, an air of panic began to set in. Reports indicate the lines were literally forming around the block at gold stores throughout London and elsewhere. It was, by all accounts, the very scenario one might expect in an … Continue reading
By Mac Slavo There is a war on for the extermination of cash. It is the ultimate monopoly game, but there are those who are willing to put up a fight to keep cash in the game. The powers that be on Wall Street and in the central banks are aiming to eliminate paper money in … Continue reading
By Phoenix Capital Research The Central Banks hate physical cash. So much so they there will likely try to ban it in the near future. You see, almost all of the “wealth” in the financial system is digital in nature. The total currency (actual cash in the form of bills and coins) in the US financial … Continue reading
The “war on cash” is nothing new and seems to be gaining traction around the globe with each passing day. The war on cash is being waged on every continent and in nearly every country — in one way or another — as cash payments are being regulated, restricted, or phased out. In January, Norway jumped aboard the cashless society agenda with DNB, the … Continue reading
By Phoenix Capital Research Yesterday we outlined that Central Banks’ War on Cash is about to go into Hyperdrive. Today we’re discussing just the policies Central Banks are already working to implement to eviscerate savings. Globally, over 50% of Government bonds currently yield 1% or less. These are bonds that are negative inreal terms meaning they … Continue reading
By Phoenix Capital Research The global Central Banks have declared War on Cash. Historically, one of the safest things to do when the markets begin to collapse is to move a significant portion of your holdings to cash. As the old adage says, during times of deflation, “cash is king.” The notion here is that cash … Continue reading