Larry Summers

These Countries Have Nearly "Eliminated Cash From Circulation"

If you have any misguided notion that a cashless society is not coming, just keep telling yourself that every time you use a debit card, credit card or your phone for your next purchase. With the elimination of cash we effectively hand over our individual human sovereignty to the banks and the government.

The War On Cash Is Happening Faster Than We Could Have Imagined

The political and financial establishments want you to willingly get on board with the idea of abolishing, or at least reducing, cash. And they’re pumping out all sorts of propaganda to do it, trying to get people to equate crime and corruption with high denominations of cash. Simply put, the data doesn’t support their assertion.

'Real' Money & Why You Need It Now, Part 2

"It might work for a while. But the falcon of asset prices becomes deaf to the falconer of the real economy. Then, in a kind of financial never-never land, he gets lost completely and flies into a tree. Asset prices fall to the ground. Investors panic. Lenders call their loans. Art investors rush to auction off their tableaux. Lines form at ATMs."

Totally Out Of Touch: Nicolas Sarkozy Seeks "Marshall Plan" For Africa

Does the average unemployed youth in Greece, Italy, or Spain give a rat’s ass about a Marshall plan for Africa? Hell no! They want a Marshall Plan for Greece, for Italy, and Spain. Sarkozy’s Marshall Plan for Africa idea shows how much out of touch these politically correct buffoons are.

The Secular Trend In Rates Remains Lower: The Yield Bottom Is Still Ahead Of Us

Donald Trump’s victory sparked a tremendous sell-off in the Treasury market from an expectation of fiscal stimulus, but more broadly, from an expectation that a unified-party government can enact business-friendly policies (protectionism, deregulation, tax cuts) which will be inflationary and economically positive. It doesn’t take too much digging to show that the reality is different. The deluge of commentaries suggesting 'big-reflation' are short-sighted.

Doug Noland Interview: "In The Next Crisis The Fed's Balance Sheet Will Hit $10 Trillion"

“I was very concerned back in 2007. I was very concerned with the consequences of this bubble imploding. I'm much more worried today. In 2007, I wasn't worried about the world. I wasn't worried about geopolitical. And I never want to be part of the lunatic fringe, but if people aren't concerned about geopolitics right now, they're not paying attention"

World Economy Wobbles As Deep-State-Shill Distracts

...but if China can’t sell its products, it can’t afford to buy resources... resource prices plunge... and consumer prices follow, aggravating weak demand with lower prices, falling money velocity... gloom, doom... recession, depression... and worldwide deflation. Then, as the world’s attention is fixed on the sordid business of the U.S. election, with its contest between reality-TV Big Shot Donald Trump vs. Deep State Shill Hillary Clinton, the world economy wobbles.