• Sprott Money
    05/05/2016 - 06:02
    Why is a Deutsche Bank mouthpiece suggesting “negative retail deposit rates or perhaps wealth taxes”? The answer is to (supposedly) stimulate our economies.

Collateralized Debt Obligations

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The Big Short: "Every American Should See This Movie & Be F##king Pissed Off"





"This is a dangerous movie for Wall Street, the government, and the establishment in general. ... cuts through the crap and reveals those in power to be corrupt, greedy weasels who aren’t really as smart as they want you to think they are. The finale of the movie is sobering and infuriating."

 
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The Eerie Echo Of 2007: It Really Is Bear Stearns, All Over Again





In a supreme twist of irony, Bear Stearns is back - maybe not the firm itself - but the people who were in charge of its distressed and junk bond trading group, and just like the summer of 2007, it is an ex "Bear"-run hedge fund that was the first to gate, just as the credit cycle is turning and the default cycle has begun, as we explained last week, just one day before everyone's attention finally focused on junk debt.

 
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America's Road To Serfdom: 51% Of Renters Are Over-40 Years Old





While popular perception holds that debt-ridden, broke millennials are the ones driving the rental market, the truth is far more nuanced... and depressing for those who still cling breathlessly to The American Dream. The truth is millions of Americans were reduced to neo-feudal serfs by the financial crisis, and how those who ruined the economy profited handsomely from the process.

 
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The War on Cash is Real





Make no mistake, the War on Cash is very real. And it’s unfolding before our very eyes.

 
 
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Complacency Reigns At Epic Levels: "Few Are Ready For What Is Coming"





Accounting fraud remains at the heart of the fix instituted by Ben Bernanke and the ploy has been copied by authorities throughout the global financial system, including the central banks of China, Japan, and the European Community. That it seemed to work for the past seven years in propping up global finance has given too many people the dangerous conviction that reality is optional in economic relations. The recovery of equity markets from the disturbances of August has apparently convinced the market players that stocks are invincible. Complacency reigns at epic levels. Few are ready for what is coming.

 
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Why the Fed HATES Physical Cash and Could Move to Tax It





In its efforts to prop up the Too Big To Fail banks, the Fed has made keeping your money in a bank a low value proposition.

 
 
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Is a Ban on Physical Cash Coming Soon?





If you think this sounds like some kind of conspiracy theory, consider that France just banned any transaction over €1,000 Euros from using physical cash. Spain has already banned transactions over €2,500. Uruguay has banned transactions over $5,000. And on and on.


 
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Life In A Cashless World: How Cash Became A Policy Tool – An Interview With Dr. Harald Malmgren





Banks in the US and Europe are trying to develop a cashless transactions system. The concept is to establish a comprehensive ledger for a business or a person that records everything received and spent, and all of the assets held – mortgages, investment portfolios, debts, contractual financial obligations, and anything else of market value. There would be no need for cash because the ledger would tell you and anyone you were considering a transaction with how much is available and would be transactable at any specific moment. This is not a dreamy idea. Blythe Masters is leading a new business effort to develop a universal cashless system. Not only is she gathering significant investor interest, but the Federal Reserve and various US Government agencies have become keenly interested in the potential usefulness and efficiencies of a universal cashless system

 
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The Financial Times Joins the "Ban Physical Cash" Chorus





This is just the beginning. As Central Bankers grow more and more desperate in the coming months, you’ll see more and more calls for extreme measures such as banning physical cash or imposing a “carry tax” on those who remove cash from the system.

 
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