We've talked in these pages repeatedly about the topsy-turvy economic bizarro world we now live in, where everything is the result of central bank dictates. In this “new normal” bad news is good news (because it means the central banks are going to swoop in with the next round of funny money fiat injections) and good news is bad news (because it means they might take away the punch bowl). But just when you think things couldn't get any stranger, signs of total economic insanity continue to trickle out of Europe.
As we reported last year, the ECB cut the deposit rate for banks from 0% to -0.1%. In effect, banks began paying the ECB for the privilege of parking funds in reserve.
You think that was weird? Well in Denmark earlier this year a series of rate cuts led to a -0.75% deposit rate. This in turn led to the truly bizarre case of some homeowners actually achieving negative rates on their mortgage. That's right, the banks are actually paying customers to borrow from them even as customers with deposits have to pay the banks interest to park their cash!
Think that's strange? This phenomenon is now spreading in Europe, with Banki...
The overall sentiment... will be appreciated by many of the readers of this column. The idea that these abuses are endemic to government itself, however, and not just examples of the abuses of tyrannical governments...well, that's a harder pill to swallow.
As various sites pointed out with regard to the Louisiana story, the government moving to ban cash is a further encroachment on property rights and due process. It is also a move that disproportionately hurts the poor...
If the globalists want to undermine the nation-state through regional government, then we must work against them by preserving the nation-state and fostering national pride in the population.
You know things are bad when even the progressives and socialists who voted you into power are calling you out for capitulating to the banksters.
The deeper truth is that none of these agreements, pacts, spontaneously arose out of the ether. They are the end result of decades of plans for a merger of national governments into regional entities that themselves will be subsumed behind the scenes by trade pacts, treaties and agreements...
Not only is Jeb a Bohemian Grove member, just like his father and brother, and not only is he a committed CFR-supporting globalist, as discussed above, but his administration is guaranteed to be a virtual carbon copy of his brother's.
What many who are living through this age of jobless recovery know all too well is that these markets are hopelessly manipulated, and that the trading taking place in these markets is subject to the same parlor tricks that define the GDP numbers...
China is a rising power. The US is in decline. Washington-led organizations like the IMF are no longer reflective of the true economic balance of power in the world, and thus the US is concerned about the rise of counter-institutions like the BRICS, the AIIB...
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The creator of the International Forecaster, Bob Chapman.