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The Cashless Society Cometh: European Nations Such As Sweden And Denmark Are ‘Eradicating Cash’
By Michael Snyder Did you know that 95 percent of all retail sales in Sweden are cashless? And did you know that the government of Denmark has a stated goal of “eradicating cash” by the year 2030? All over the world, we are seeing a relentless march toward a cashless society, and nowhere is this … Continue reading
The IMF Changes Its Rules To Isolate China And Russia
By Michael Hudson A nightmare scenario of U.S. geopolitical strategists is coming true: foreign independence from U.S.-centered financial and diplomatic control. China and Russia are investing in neighboring economies on terms that cement Eurasian integration on the basis of financing in their own currencies and favoring their own exports. They also have created the Shanghai Cooperation … Continue reading
Azerbaijan In Crisis As Currency Plummets
Azerbaijan’s currency has plummeted after moving to a floating exchange rate, causing a rush on dollars and shops as customers try to buy goods before prices increase. The manat lost 32% to the dollar yesterday following the central bank’s decision to stop protecting its value in the face of falling oil prices. The bank said … Continue reading
Yuan’s Accession Marks End To Any Containment Of China
By Robert Shines With the recent IMF decision to grant China’s currency the status of reserve currency, any attempts to “contain” China are over. China has taken a major step in confirming its international economic importance and its reemergence on the world stage with the accession of the yuan as a reserve currency. The move … Continue reading
China Just Ended the Dollar Peg (…For The Most Part)
By JC Collins On March 25, 2015 I published a post titled When Will China End the Dollar Peg. In that post we speculated that the USD based managed peg of the RMB will be removed before the end of the year. Just in time for the implementation of the AEC trade agreement which starts … Continue reading
Experts Fear A Stealth Crash Has Already Begun: “Risk Is Flashing Red”
By Mac Slavo It is more clear than ever that the Federal Reserve’s quantitative easing program will eventually bring destruction to the planet. The world doubled down on risk after the 2008 crisis with nearly unlimited liquidity, and now debt is threatening to drown the global financial market. Cheap credit is about to saddle down those … Continue reading
The Shocking Algosaibi And Saad Group Case
Trouble first surfaced for Saudi Arabia’s most venerable business group, the Ahmad Hamad Algosaibi & Brothers Company (AHAB), in 2009. In that year, both the Bahairn based bank, International Bank Corporation (TIBC), and its Money Exchange division defaulted out of the blue, the fallout impacting upon the financial banking sector worldwide. Founded in 1940 and … Continue reading
Sovereign Refugee Bonds: The Solution To The Migrant Crisis?
A Washington, D.C.-based emerging markets specialist and Asia Times columnist, Gary N. Kleiman, is proposing an idea on how to finance relief efforts for Europe’s widening migrant crisis: sovereign refugee bonds. Kleiman makes the case for the bonds in the Financial Times’s beyondbrics blog on Thursday. He argues that the funding model — which relies on governments backed by private donations — … Continue reading
Cashless Society, Negative Interest Rates, And Hyperinflation – Part 1
By Gustav Andersson, BullionStar If you’d suggested just a few years ago that we’d soon be living in a global economic landscape in which an increasing number of central banks would have their interest rates set to zero, or even negative, most people would have thought you where outright mad. What seemed crazy and absurd then is … Continue reading
The U.S. Dollar: The Modern Day Bancor
By Eugen von Böhm-Bawerk According to Belgian-American economist, Robert Triffin the country whose currency have become the global reserve currency must be willing to supply enough liquidity to satisfy global needs. This obviously raises an interesting question for the Federal Reserve with regard to their monetary policy execution. On one hand, they need to consider the … Continue reading
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