Daily Digest

Image by Images_of_Money, Flickr Creative Commons

Daily Digest 3/22 - Why We Should Fear A Cashless World, Central Banks Already Doing The Unthinkable

Tuesday, March 22, 2016, 9:14 AM

Economy

Explosions at Airport and Subway Kill at Least 26 in Brussels (jdargis)

“We were fearing terrorist attacks, and that has now happened,” Prime Minister Charles Michel of Belgium said at a news conference, calling the attacks “blind, violent, cowardly.”

On Twitter, he issued an appeal to the population to “avoid all movement,” as the authorities braced for the possibility of additional violence.

Central banks are already doing the unthinkable - you just don't know it (PBD)

Eurozone policymakers followed suit earlier this month with a triple whammy of interest rate cuts, €20bn in additional asset purchases a month, and an unprecedented move to allow commercial banks to borrow money at negative rates.

The Federal Reserve has also taken its foot off the pedal by slashing its expected interest rate hikes from four a year to just two.

ISIS Bombings In Istanbul Threaten European Stability (Josh O.)

After taking over the daily Zaman newspaper for the state and turning into a friendly mouthpiece, the government has also banned gatherings in the wake of the terrorist attacks, which include two recent high-profile attacks in the capital Ankara in addition to the attack last weekend in Istanbul. On Monday, Turkish police fired tear gas and rubber bullets into crowds of hundreds of people celebrating the Kurdish New Year, Nevruz, and dozens were arrested in an Istanbul neighborhood in the run-up to these celebrations.

Student Loan Defaults Hit $121 Billion; 40% 0f All Borrowers Not Making Payments (Aaron M.)

“Today’s analysis suggests that the administration’s efforts to help struggling borrowers are having a positive impact,” U.S. Education Secretary John King Jr. said. “While we see promising signs of progress, we know we have to work to do to ensure that every borrower in distress has a clear path to avoid default. And I will continue to fight to ensure that students have access to an affordable education that helps them get ahead, rather than drowning in debt.”

Many folks, however, simply don’t have the money to make their payments, the Free Press reports.

Why we should fear a cashless world (HughK)

In a world without cash, every payment you make will be traceable. Do you want governments (which are not always benevolent), banks or payment processors to have potential access to that information? The power this would hand them is enormous and the potential scope for Orwellian levels of surveillance is terrifying.

Cash, on the other hand, empowers its users. It enables them to buy and sell, and store their wealth, without being dependent on anyone else. They can stay outside the financial system, if so desired.

Silver – A Long-Term Perspective (GE Christenson)

Over the past 50 years prices for stocks, silver, gold, crude oil, health care, and presidential elections have increased exponentially, mainly due to massive increases in debt (see graph below) and devaluations of currencies. Expect exponential price increases to continue.

Over 50 years the Dow Jones Industrial Average has averaged about 700 times larger than the price of silver. Examine the log-scale graph (below) of 700 times the price of silver plus the DJIA.

Fractional Reserve Banking is a Fraud – Claudio Grass Interviewed (Taki T.)

The interesting thing about this initiative is that it is actually not led by free market supporters. On the contrary, the proposal comes from a bunch of socialists in close orbit around Karl Marx. It is therefore not surprising that the Swiss National Bank is far less opposed to the idea than it was to the gold initiative. The latter was painted in the starkest colors and said to be practically opening the doors to Hell, as it would actually have limited the SNB’s interventionist powers somewhat (even if not really by as much as it made out).

Global Economy Dying Pig-No More Rate Hikes: Rob Kirby (pinecarr)

So, with the backdrop of a sick global economy, what will the Fed do next? Kirby contends, “I think the next move by the Fed is going to be an announcement that will amount to quantitative easing (money printing) because it will take the form of liquidity injections going back into the system. For people who are fans of and enjoy the helicopter money, your prayers are going to be answered, I do believe, in short order. I think you are going to see this roll over accelerate as the year progresses, even though most of Wall Street keeps trying to sell everybody the happy juice that everything is getting better every day. The reality is things aren’t getting better.”

Gold & Silver

Click to read the PM Daily Market Commentary: 3/21/16

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

2 Comments

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2840
They're Baaaaack....

With new and improved distractive false-flag action:

Brussels explosions: multiple casualties after airport and metro attacks (The Guardian)

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1632
Philly public housing towers imploded

http://www.philly.com/philly/video/inquirer/NDN30508727_20160318_Norman_Blumberg_Apartments_Implosions.html

I love watching implosions!  This one wasn't quite as symmetrical as others I've seen.  For instance, there was this 47 story glass and steel tower that "was pulled" in Manhattan.  It came straight down at free fall speed. The only imperfection I saw in that one was that the penthouse got started falling first before the rest of the building caught up, but the whole thing was more symmetrical than this Philly blast.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments