Tag Archive: Germany
Yellow Lights are Flashing
Bonds are not rallying despite poor US data. Greater chance that Trump gets elected than the Fed hikes next week. Berlin may be more important than Bratislava.
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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 of the most influential economists on the planet, he wants to phase out cash.
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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 route, so gold was confiscated. As Alan Greenspan wrote in 1966:
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Negative Rates and The War On Cash, Part 1: “There Is Nowhere To Go But Down”
As momentum builds in the developing deflationary spiral, we are seeing increasingly desperate measures to keep the global credit ponzi scheme from its inevitable conclusion. Credit bubbles are dynamic — they must grow continually or implode — hence they require ever more money to be lent into existence.
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Europe Debates The Burkini: “We Will Colonize You With Your Democratic Laws”
"We will colonize you with your democratic laws." — Yusuf al-Qaradawi, Egyptian Islamic cleric and chairman of the International Union of Muslim Scholars. "Beaches, like any public space, must be protected from religious claims. The burkini is an anti-social political project aimed in particular at subjugating women.
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Gold Withdrawals From The NY Fed Accelerate, Hit 388 Tons Since 2014
First it was Germany who redeemed 120 tons of physical gold from the NY Fed in 2014; then it was the Netherlands who "secretly" redomiciled 122 tons of gold; then last May, we learned that Austria would be the third "core" European nation to repatriate most of its offshore gold, held primarily in the Bank of England, redepositing it in Vienna and Switzerland.
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FX Weekly Preview: Yellen Pushes Divergence Front and Center
The summer dynamics of the capital markets has changed by the enhanced prospects of a Fed hike. Equity markets and other risk assets look particularly vulnerable. Sterling may do better against the euro than the dollar.
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2 Men, 3 Women 6-Year-Old Kid Burned, Stabbed By 27-Year-Old Attacker On Swiss Train
Seven people are in hospital with stab wounds and burns, police say, after an attack on a train near St.Gallen, Switzerland. The man set the train carriage on fire using a flammable liquid and also stabbed passengers, including a six-year-old child, police said. Details are sparse for now but The BBC reports, the suspected attacker, described as a Swiss man aged 27, was also taken to hospital after the incident near Salez in St Gallen Canton.
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