Japan Goes Full Krugman: Plans Un-Depositable, Non-Cash "Gift-Certificate" Money Drop To Young PeopleSubmitted by Tyler Durden on 03/23/2016 20:06 -0400
The Swiss, the Finns, and the Ontarians may get their 'Universal Basic Income' but the Japanese are about to turn the Spinal Tap amplifier of extreme monetary experimentation to 11. Sankei reports, with no sourcing, that the Japanese government plans to unleash "vouchers" or "gift certificates" to low-income young people to stimulate the "conspicuous decline" in consumption among young people. The handouts may not be deposited, thus combining helicopter money (inflationary) and fully electronic currency (implicit capital controls and tracking of spending).
"Returned Syria fighters are a huge threat... It is absolutely unbelievable that our governments allow them to return... Every government in the West, which refuses to do so [lock them up], is a moral accessory if one of these monsters commits an atrocity. ... Our citizens are in mortal danger if we do not restore control over our own national borders."
Sadly, nations get the leadership they deserve. Turning a blind eye to reality is not a sustainable "solution." Leaders faced with unrest, rising demands and dwindling coffers always debauch their currency as the politically expedient "solution."
If Donald Trump is a fascist - as nearly half of Americans surveyed believe - then so is every other politician in office or running for office in America who has ever prioritized money and power over human beings. Consent of the governed, however, no longer applies. Actual control has finally passed to the oligarchic elite controlling the government behind the scenes.
Russia’s decision to greatly reduce its military presence in Syria, coming as it did with little warning, has left the world struggling for explanations. Russia is to maintain a military presence at its naval base in Tartous and at the Khmeymim airbase. In fact Russia is “withdrawing without withdrawing”. By re-establishing the Assad government in Syria, and permanently placing its forces at Syrian bases, the Russian’s have placed an impenetrable obstacle to the development of the Qatar gas pipeline.
The incredible story behind the cyber heist that resulted in an $81 million loss for the central bank of Bangladesh continues to get more intriguing. Bangladesh is looking to sue the NY Fed for lapses in protocol, while Philippine officials race to untangle a complex web of bad actors and shady go-betweens that looks like it may lead back to one Kim Wong, who 15 years ago was accused of connecting then-Senator Panfilo Lacson to drug lords. Meanwhile, a cyber security expert who spoke to the police and the media was kidnapped from a motorized rickshaw by men in plainclothes who blindfolded him, threw him in a vehicle, and drove away.
Individuals are long term investors only as long as the markets are rising.
To now dismiss Fed policy causation as “correlation theory” is laughable. The markets are now so intertwined and Fed dependent the observation of whether correlation is causality has been rendered moot. Without the Fed – there is no market. That’s now a proven fact. Period.
There is one and only one good thing about the near-inevitable Trump/Clinton match-up. It's going to be endlessly entertaining.
From the NY Fed, to a local branch of a commercial bank in the Philippines, to a remittances company, to three casinos, and then... nothing. A cold trail. Who's at the end of the central bank heist rabbit hole? And do any of the people along the paper trail actually know who's pulling the strings?
After the February jobs report, President Obama said “America’s pretty darn great right now.” He then went on to disparage the “doomsday rhetoric” of the Republicans, which he said was pure “fantasy. I think that there is a good chance that this will enter the Hall of Fame of miss-timed statements, right up there with this jewel from Ben Bernanke in March 2007: “At this juncture, however, the impact on the broader economy and financial markets of the problems in the sub-prime market seems likely to be contained.”
Approximately 50 tonnes of BCV gold has been exported from Venezuela to Switzerland within the first 10 weeks of 2016. How much longer can this outflow continue? This gold is being exported by the BCV in order to participate in swaps (or maybe even outright sales) in order to provide external financing to the Venezuelan Government. The fact that the gold is being picked up by Brinks Switzerland suggests it is being brought to a Swiss gold refinery. The main reason gold is sent to Switzerland is so that it can be refined or recast.
In the same way that FDR had an existential political interest in generating inflation and preventing volatility in the US labor market, so does the US Executive branch today (regardless of what party holds the office) have an existential political interest in generating inflation and preventing volatility in the US capital markets. Transforming Wall Street into a political utility was an afterthought for FDR; today the relative importance of the labor markets and capital markets have completely switched positions. Today, the quote would be "markets are too important to be left to investors."
"Donald Trump won’t debate his Republican rivals again but he will continue to argue on Twitter. On Thursday the businessman demanded an apology after we—“the dummies at the @WSJ Editorial Board”—accurately noted that Hillary Clinton has received about a million more votes than he has. The truth hurts, though Mr. Trump would rather walk down Fifth Avenue shooting the messenger."
The owners don't really care if we cheer for the black and gold team, or the blue and silver team, as long as you do cheer.