Category Archive: Monetary Policy

Main Author George Dorgan
George Dorgan
George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers. George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.

Negative Rates: The New Gold Rush… For Gold Vaults

Negative interest rates and the populist uprising that spurred the UK to vote for Brexit and Americans to elect Trump has helped reignite a rush into physical safe haven assets like gold and silver, which however has led to a shortage of safe venues...

The Path to Inflation: “Helicopter Money”

Yet conventional economists are virtually unanimous that deflation is the danger and inflation is a "good thing" we need to spur so servicing existing debt becomes easier for debtors. Due to the deflationary pressures of technology and stagnant wages...

Europe Proposes “Restrictions On Payments In Cash”

Having discontinued its production of EUR500 banknotes, it appears Europe is charging towards the utopian dream of a cashless society. Just days after Davos' elites discussed why the world needs to "get rid of currency," the European Commission has...

Migros Bank could pass on negative interest rates

Because of negative interest, even a savings account earning 0% interest is earning too much reckons the bank’s boss. Soon many banks will be passing on some of the cost of negative interest to their clients, reports 20 Minutes. Migros Bank will need...

Wie die SNB durch Kapitalsteuern die Schweizer Wirtschaft belastet

Vor dem Hintergrund eines angeblich „schwachen Wirtschaftswachstums“ rechtfertigte SNB-Chef Thomas Jordan neulich in einem Interview in der Tagespresse die SNB-Negativzinsen und bezeichnete diese als „expansiv“. Nur: Sind Negativzinsen wirklich...

The Point of War Is Not to Win

In time, everything goes away. We are confident, for example, that it won’t be too long before the market cracks (please don’t hold us to this forecast, but don’t forget if it turns out to be correct!). U.S. corporate profits are falling. GDP is...

Cashless Society – Is The War On Cash Set To Benefit Gold?

Cash is the new “barbarous relic” according to many central banks, regulators, and some economists and there is a strong, concerted push for the ‘cashless society’. Developments in recent days and weeks have highlighted the risks posed by the war on...

NIRP Has Failed: European Savings Rate Hits 5 Year High

One year ago, when it was still widely accepted conventional wisdom that NIRP would "work" to draw out money from savers who are loathe to collect nothing (or in some cases negative interest) from keeping their deposits at the bank, and would proceed...

Interview with Doug Casey

Our friend Natalie Vein recently had the opportunity to conduct an extensive interview with Doug Casey for BFI, the parent company of Global Gold. Based on his decades-long experience in investing and his many travels, he shares his views on the state...

Understanding Negative Interest Rates

When the central banks of three European countries and the European Central Bank (ECB) itself introduced negative interest rates (NIR) in mid -2014, many considered it be a temporary measure, a new experiment in monetary policy. But when the Bank of...

Japan’s Planners Ratchet up Monetary Experimentation

It was widely expected that the BoJ would announce something this week after it promised to perform a comprehensive review of its monetary policy. It certainly did deliver a major tweak to its inflationary program, but its implications were seemingly...

Negativzinsen: Unsere Schweiz als Versuchskaninchen

In der gestrigen Ausgabe der NZZ am Sonntag wird Nobelpreisträger Paul Krugman zitiert, wie er den Mindestkurs der SNB und deren Negativzinsen lobt. Die Negativzinsen seien ein „wertvolles Experiment“ meint er und „bedankt“ sich dafür sogar bei der...

Why should you Buy Government Bonds with Negative Yields?

A question worth asking considering the rather large amount of them knocking about at the moment. According to JPM, the total universe of government bonds traded with a negative yield was $3.6tr last week or 16 per cent of the JPM Global Government...

The ZIRP/NIRP Gods and their PhD Priesthood Have Failed

The priesthood's insane obsession with forcing people to spend their savings by punishing savers with ZIRP/NIRP has failed spectacularly for a simple reason: it completely misunderstands human psychology. Let's start with a simple chart of the Fed...

Cash Bans and the Next Crisis

Money sometimes goes “full politics”. Take poor Kenneth Rogoff at Harvard. He wants a dollar with a voter registration card, a U.S. flag on its windshield, and a handgun in its belt – the kind of money that supports the Establishment and votes for...

Rogoff Warns “Cash Is Not Forever, It’s A Curse”

Kenneth Rogoff, Professor of Public Policy at Harvard University, postulates to get rid of cash. In his opinion, killing big bills would hamper organized crime and make negative interest more effective. Kenneth Rogoff makes a provocative proposal. One...

Case For -2 percent Rates, Banning Cash? Jim Grant Blasts Lunatic Proposals

Looking for group think, extrapolation of extreme silliness, linear thinking, and belief in absurd models? Then look no further than Fed presidents, their advisors, and academia loaded charlatan professors. Today’s spotlight is on Marvin Goodfriend, a...

Negative and the War On Cash, Part 2: “Closing The Escape Routes”

History teaches us that central authorities dislike escape routes, at least for the majority, and are therefore prone to closing them, so that control of a limited money supply can remain in the hands of the very few. In the 1930s, gold was the escape...

Cash in a box catches on as Swiss negative rates bite

It’s a sign the world is getting used to negative interest rates when what once seemed bizarre starts looking like the norm. Consider Switzerland, where more and more companies are taking out insurance policies to protect their cash hoards from theft...
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