Bail-In

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Smart Strategies For Building & Managing Your Cash Savings

Options for protecting purchasing power
Friday, September 15, 2017, 8:47 PM

Executive Summary

  • Is it better to hold cash in savings/checking accounts, or securities accounts?
  • Where will the dollar likely from here?
  • What will likely happen with retirement accounts?
  • Ways to diversify your cash risk

If you have not yet read Part 1: The Cardinal Sin Of Investing: Permanent Impairment Of Capital available free to all readers, please click here to read it first.

The Role Of Cash In The Informal Economy

In stagnating formal economies burdened by over-regulation, high taxes and financialization, one of the few bright spots for employment and entrepreneurism is the informal or cash economy.  The more stultified and elite-dominated the economy, the larger and more vibrant the informal economy.  In some highly regulated, high-tax European nations, up to 30% of the economic activity is underground/cash.

The elimination of central bank currency will not eliminate the informal economy. Rather, the participants in this sector will adopt non-central bank issued forms of cash—precious metals, coins, other nations’ paper money, perhaps even digital currencies such as bitcoin or its gold-linked cousins (Bitgold, etc.)

Those with little income often do not have bank accounts, as the fees are costly. Eliminating cash will hit the poor who earn money in the informal economy especially hard. Though the poor are essentially powerless in our influence-is-auctioned-to-the-highest-bidder system, this could change once the working poor who benefit from the cash economy are pushed even deeper into poverty by the banning of cash.

That might spark... » Read more

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Banks Are Evil

It's time to get painfully honest about this
Friday, March 17, 2017, 8:05 PM

I don't talk to my classmates from business school anymore, many of whom went to work in the financial industry.

Why?

Because, through the lens we use here at PeakProsperity.com to look at the world, I've increasingly come to see the financial industry -- with the big banks at its core -- as the root cause of injustice in today's society. I can no longer separate any personal affections I might have for my fellow alumni from the evil that their companies perpetrate.

And I'm choosing that word deliberately: Evil. » Read more

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The Screaming Fundamentals For Owning Gold

We're at a moment of historic opportunity
Tuesday, December 8, 2015, 12:53 PM

Every year or two we update this report, which lays out the investment thesis for gold. Here is this year's version.

Silver is touched upon only as necessary; as a separate report of equal scope is required for that precious metal.

Gold is one of the few investments that every investor should have in their portfolio. We are now at the dangerous end-game period of a very bold but very reckless & disappointing experiment with the world's fiat (unbacked) currencies. If this experiment fails -- and we observe it's in the process of failing -- gold will provide one of the best forms of wealth insurance. But like all insurance products, it only works if you buy it before you need to rely on it. » Read more

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The War On Cash: Officially Sanctioned Theft

How banks & the government are diminishing your savings
Friday, June 12, 2015, 12:07 PM

You’ve probably read that there is a “war on cash” being waged on various fronts around the world. What exactly does a “war on cash” mean?

It means governments are limiting the use of cash and a variety of official-mouthpiece economists are calling for the outright abolition of cash. Authorities are both restricting the amount of cash that can be withdrawn from banks, and limiting what can be purchased with cash.

These limits are broadly called capital controls. » Read more

Daily Digest

Image by Peter Broster, Flickr Creative Commons

Daily Digest 4/4 - Barclays Blames Bank Culture; Shut Up, Savers!

Thursday, April 4, 2013, 10:44 AM
  • 'Shut Up, Savers!'
  • Storm drain grates go missing, create safety hazard
  • UN adopts Arms Treaty with support from Obama administration
  • Chinese Foreign Fisheries Catch 12 Times More Than Reported, Study Shows 
  • Are All G20 Bank Depositors Exposed to a Cyprus Style Seizure of Deposits for a 'Bail-in?' 
  • Ottawa’s bank ‘bail-in’ talk spooks investors
  • Michael Sona Charged By Elections Canada In Connection To Robocall Scandal
  • Man has undeclared $10,000 seized at border after exchange rate pushes him over limit to take from country
  • Barclays' Salz Review blames bank culture
  • Researcher tried to export pathogen to China, RCMP allege
  • Massive offshore tax haven account leak includes names of 450 wealthy Canadians
  • Senators get automatic $2,900 pay boost after MP’s vote to increase their own salaries
  • David Stockman: "The Great Deformation"
  • Cyber Attack Alert
  • Currency Wars: “The Fed is Playing with a Nuclear Reactor”
  • A Tipping Point In The Financial System
  • Rumors of a Cheap-Energy Jobs Boom Remain Just That
  • Food Field Urban Farm in Detroit Heals Land, Sets Sights On Aquaponics and Economic Viability
  • China reports three H7N9 infections, two fatal