• Steve H. Hanke
    02/11/2016 - 16:08
    The burgeoning literature contains a great deal of hype, which validates the 95% Rule: 95% of what is written about economics and finance is either wrong or irrelevant.

Switzerland

Tyler Durden's picture

Martin Armstrong Warns "QE Has Failed... Central Banks Are Simply Trapped"





The central banks are simply trapped. They have bought in bonds under the theory that this will stimulate the economy by injecting cash. But there are several problems with this entire concept. This is an elitist view to say the least for the money injected does not stimulate the economy for it never reaches the consumer. This attempt to stimulate by increasing the money supply assumes that it does not matter who has the money... The attempt to “manage” the economy from a macro level without considering the capital flow within the system is leading to disaster.

 
Sprott Money's picture

Fractional-Reserve Banking is Pure Fraud, Part II





Even despite the saturation criminality that readers have already seen, many will still argue that we “need” these Big Banks, and that we even “need” fractional-reserve (no reserve) fraud.

 
Tyler Durden's picture

Here's How To Trigger A Bank Run





What should the rational investor do in an environment of ongoing financial repression? If you wanted to trigger a bank run, this is certainly how you might go about it.

 
Tyler Durden's picture

Another Hedge Fund Bites The Dust: Trafigura Shuts Down Its Flagship Metals Fund





While the storm clouds continue to build above Trafigura, we now know the fate of Galena and why its CEO Letchford departed the company in a hurry last week: according to a follow up from Bloomberg, Trafigura has decided to close the flagship Galena Metals Fund, the latest hedge fund victim of the rout in raw materials markets from oil to copper.

 
GoldCore's picture

Coming of Age: China’s Yuan Joins SDR Basket As IMF Reserve Currency





In a statement, the People’s Bank of China thanked the IMF for the recommendation and said it was “an acknowledgment of the progress in China’s recent economic development, reform and opening up”.

 
Phoenix Capital Research's picture

One by One the Central Banks Are Losing Control





The fact of the matter is that despite public opinion, there are problems that are so big that the Central Banks cannot fix them. We’ve seen this in Switzerland and China and now in Europe. It will be spreading to other countries in the near future.

 
GoldCore's picture

Yet More Rigging By Big Banks – This Time It’s Interest Rate Swaps





They say people get the governments they deserve; well, they get the institutions and an regulators they deserve, too. Apathy is the greatest destroyer of liberty.

 
Tyler Durden's picture

With Mass Shootings, The State Makes Us Less Safe





A society that is given the option to protect itself is not a fearful society, it is a prudent one. The victims of Paris were never allowed the option to protect their lives, nor were they fortunate to have armed defenders present or trained combatants to stop the attack before it reached them. People need the opportunity to secure their own safety since, as the past twelve years has shown, the State will fail them.

 
GoldCore's picture

Gold Market Goes Quiet - Do We Hear The Echo Of The Bottom?





“From the mass psychology perspective, Gold is very close to putting in a bottom.  Sentiment investors, contrarian investors and investors who are familiar with the concept of mass psychology should consider taking a closer look at the precious metal’s sector now”.

 
Tyler Durden's picture

Did Mario Draghi Just Leak The Bazooka? Two-Tiered NIRP System May Presage Big Rate Cut





With the ECB's December meeting just one week away, Mario Draghi and co. are still debating how best to package a new round of easing measures. As Reuters reports, the central bank is considering a tiered system for the application of negative rates in an effort to mitigate the effect on banks. Translation: the ECB may be preparing to "overwhelm" with an even larger cut to the already negative depo rate that analysts were expecting.

 
GoldCore's picture

Global Bond Markets: Where Did All the Liquidity Go?





The world is awash with debt. With central banks increasing their balance sheets through quantitative easing, simultaneously pushing down interest rates and taking huge chunks of the market out of circulation, investors have had to stray beyond developed market government bonds in search of yield.

 
Tyler Durden's picture

Swiss Bank "Goes There", Applies Negative Rates To Retail Deposits





"We have determined that applying a negative rate was a more transparent and fairer solution for our clientele. This decision on negative rates is costing us a lot of money -- pretty much the equivalent of our entire annual profit last year."

 
Tyler Durden's picture

German Bunds Give Draghi The Finger: 2-Year Hits Record Negative Low -0.39%





While the initial EUR response was as expected, dropping about 30 pips (but already rebounding on concerns that the Draghi bazooka may truly be empty this time - after all what else can he surprise with as CA's Valentin Marinov said), German Bunds, especially the short-end, were quick to give Mario Draghi the middle finger and the 2Y has dropped to a fresh record low of -0.389%, because all they heard was that the ECB will monetize even more debt.

 
Tyler Durden's picture

The World's First Cashless Society Is Here - A Totalitarian's Dream Come True





Central planners around the world are waging a War on Cash because, as Ron Paul so eloquently put it "the cashless society is the [government]’s dream: total knowledge of, and control over, the finances of every single [citizen]." It is perhaps ironic then that Sweden, which became the first country in Europe to issue paper money in 1661, is probably going to be the first in the world to entirely eliminate it.

 
Tyler Durden's picture

World Gold Council Continues To Hide Insatiable Chinese Gold Demand





How can so much gold be supplied to China without someone buying it and thus being genuine demand? It cannot. Chinese gold demand as disclosed by the World Gold Council (WGC) is fallacious. We were already missing 2,500 tonnes from the WGC numbers and now we have to add another 604 tonnes...

 
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