Why are governments suddenly so keen to ban physical cash? The answer appears to be that the banks and government authorities are anticipating bail-ins, steeply negative interest rates and hefty fees on cash, and they want to close any opening regular depositors might have to escape these forms of officially sanctioned theft. The escape mechanism from bail-ins and fees on cash deposits is physical cash, and hence the sudden flurry of calls to eliminate cash as a relic of a bygone age — that is, an age when commoners had some way to safeguard their money from bail-ins and bankers’ control.
In the U.S., the economy has failed to accelerate, with GDP growth stubbornly below 2.5%. It is worse in Europe and even China has slowed. Stagnant global economic growth, a strong USD, and lower oil prices have combined to cause revenue growth for the S&P 500 to fall. The first quarter of 2015 was the first quarter of negative sales growth for the S&P 500 since the financial crisis. 2Q15 is expected to be worse
Apple Plunges Despite EPS Beat On iPhone Sales Miss, Drop In China Sales, Weak Guidance And Strong Dollar WarningSubmitted by Tyler Durden on 07/21/2015 16:48 -0400
The company which was carrying the fate of not only the Dow Jones and the S&P 500 on its shoulders had taken the stairs up, and just took the elevator down.
One more bizarre example of the NWO of the Corporate America recruiting process...
The Export-Import Bank died last night when its charter expired. After 81 years, what is commonly known as Boeing’s Bank is headed toward Washington’s trash bin. When Congress returns it could revive Ex-Im, which primarily subsidizes big business exports. But a proper burial for what Barack Obama once called “corporate welfare” would save Americans money, reduce economic injustice, and promote economic growth. Ex-Im’s closure is a very rare victory for the good guys in Washington. Crony capitalism is running rampant in America, undermining confidence in a market economy.
Yes, the clock’s ticking louder, louder, warns the Economist, “only a matter of time before the next recession strikes.” Unfortunately, the “rich world is not ready.” America’s not prepared. You are not ready.
Another story from The dark side of Corporate America....
“If you distort markets for long periods of time and then you remove those distortions, you’re subject to unanticipated volatility,” TCW's Jerry Cudzil tells Bloomberg, adding that the firm is "as defensive as [it's] been since pre-crisis.”
Guess what? You were never meant to get the job!
Why the Beveridge Curve has shifted..
Somehow, in the stupor of false patriotic pride, Americans are unwilling to accept that their enemy is not scattered around the seven seas, as they are being told, but has pitched its bivouac tent right here at home; government and most endearing American institutions having been hijacked by a ruling elite that have placed Washington under their thumb. For self-preservation, America’s ruling elite might consider optimizing its position, not just domestically but internationally, by accepting conviviality as its foreign coup. A farfetched proposition...? Of course; but world peace can benefit us all.
While the benefits to banks and governments of banning physical cash are self-evident, there are downsides to the real economy and to household resilience. Why are governments suddenly acting as if cash money is a bad thing that must be severely limited or eliminated?
The U.S. middle class is being systematically ripped to shreds, and most Americans are showing very little alarm about this. How much damage has to be done before people will finally start waking up?
Do you feel like you’re running out of pepper more often these days? Have you noticed that Slim Jims have gotten shorter? Rest assured it is not your imagination, it is simply a symptom of corporate America attempting to hide runaway inflation by employing "slack fill."