Sunday, February 14th, 2016 MST

War on cash

A former head of the UK’s Standard Charter bank proposes that the war on cash be ratcheted up. ln a paper published Sunday, Peter Sands demonized large banknotes, saying they are “king among terrorists, drug lords and tax cheats.” According to him, Illicit money flows are estimated to run up to $2 trillion a year.

Draghi doubles down

Mario Draghi, ECB chief, again reaffirmed his pledge to print more euros next month in a Keynesian effort to fillip economic activity in the eurozone. In December, the ECB’s measures fell short of market expectations, and stock markets declined. This time Draghi does not plan to disappoint.

The Riksbank’s dilemma

To Keynesians, easy solutions reside for monetary and economic problems. When the economy is in recession, deficit spend. When inflation heats up (meaning rising prices, which the developed world hasn’t seen for some time), choke back the money supply. Problems solved. Recessions are averted; inflation is held in check. So, if “managing” the economy is

Bank of Japan to buy equities

Quantitative easing opened a Pandora’s box that will not be closed until massive inflation spreads worldwide. Only when people quit accepting the digital money that central banks spew will it end. However, the end may be far, far away. Traditionally, central banks created money “out of thin air” to finance wars by buying new government

Why gold is real money

Although many gold buyers readily accept that “gold is real money,” few can explain why gold is real money and why moving away from gold as money to fiat money distorts economic activity. The distortion being a boom followed by a bust, and the size of the distortion being determined by the amount of the

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