Economics and Investing:

Ann Barnhardt on a Personal Update and Negative Interest Rates: Highway to a Cashless, Statist Hell.

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‘New Money’ Powers PayPal’s Super Bowl Push – another step in herding the sheep towards a cashless society. Submitted by RBS.

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Items from Professor Preponomics:

US News

The Velocity of Money (American Thinker) An interesting conversation about the velocity of money and its implications for the economy. I would add that in addition to an unwillingness to spend through the system at the level of the individual consumer or household, there are structural constraints also in play. Excerpt: “…the velocity of money, while obscure, is one of the most incredibly potent measures of economic health and vitality. It provides extraordinary guidance into an economy’s health and well-being….”

The Continuing Demonization of Cash (Mises) Excerpt: “The insidious nature of the war on cash derives not just from the hurdles governments place in the way of those who use cash, but also from the aura of suspicion that has begun to pervade private cash transactions.”

A Hedge Fund Has Laid Out Why It Is Closing — and It’s Enough to Set Alarm Bells Ringing Everywhere (Business Insider) Spoiler Alert: It’s all about liquidity. Excerpt: “The lack of liquidity in the credit market has been a hot topic of late. Funds are increasingly in a position where they can’t sell assets quickly to get that money to return to their investors.”

Government-Run Health Care: Not-So-Great Moments (Government Waste Fraud and Abuse) Excerpt: “Fixing the mess won’t be easy since it would involve addressing several contributing problems….”

More “Dark Pool” Investigations Underway, Says New York’s Top Cop (Bloomberg) Excerpt: “Additional actions are likely against private trading venues run by some of Wall Street’s biggest banks, the nation’s top securities regulator and New York state’s attorney general said today as they announced record settlements with two global banks over their so-called dark pools.” The Wall Street Journal reports that banks used dark pools to quietly cater to high speed traders: “Dark Pool Settlements Bring Tangled Relationships to Light” Note: The Wall Street Journal requires a sign-in and/or subscription to access some content.

Puerto Rico Creditors Asked to Take 45% Haircut on Debt(CNBC) Excerpt: “With a 45 percent poverty rate and exodus of its population to the United States, Puerto Rico is trying to solve an economic crisis before substantial debt payments come due in May and July. The U.S. territory has defaulted on some of its debt and is trying to persuade creditors to take concessions. ”

International News

Digital Tax: HRMC Wants a Direct Link to Everyone’s Bank Accounts (The Telegraph) Excerpt: “They also predict that – whatever it says to the contrary – HMRC’s ultimate intention is to obtain highly detailed data “equivalent to the individual entries on a bank statement”.”

Personal Economics and Household Finance

25 Homemade Cleaners You Can Make with Vinegar (Frugal Living) Another helpful way to save money in your household budget. Excerpt: “Cleaning with vinegar is as cheap as it is effective.”

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