Moscow And Beijing Join Forces To Bypass US Dollar In Global Markets, Shift To Gold Trade. JWR’s Comment: Ruh-ro! (Link submitted by reader G.P.)
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The War on Cash: Old and New. Excerpt: “It would be a mistake, nonetheless, to think that the outright ban of cash will be the preferred method of our fiat-money lords. The most efficient and vicious method they can use is simply inflation while refusing to emit any new banknotes with higher denominations.” – DSV
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HJL’s Comment: The retirement pension crises is now upon us. Not only do the pension funds have a shortage due to poor management of the funds, but now withdrawals are outpacing contributions, leaving a negative net flow of funds.
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Why You Should Care About Fractional Reserve Banking. Excerpt: “Our highly levered financial system is like a truckload of nitro glycerin on a bumpy road.”
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