Saturday, October 1st, 2016 MST

Category: The Dollar

ECB to stop printing €500 notes

In what is being reported as an effort to impede criminal activity and terrorism, the European Central Bank announced that it will discontinue issuing €500 notes around the end of 2018.  However, the ECB was quick to affirm that the €500 notes already in circulation “will remain legal tender and . . . always retain

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.

Premiums surge on physical metals

Recent collapsing stock prices did not result in significantly higher metals prices, primarily because investors fled stocks not just in the US but around the world. Following conventional thinking, investors plowed into dollars via short-term US treasuries, which made the dollar stronger versus other currencies.

Greek banks prepare for “bail-in”

In the financial news, nothing is getting more attention than Greece’s financial plight. In short, Greece cannot meet its debt payments schedule without further assistance from the European Central Bank and the International Monetary Fund, both of which want a more strident austerity program than the present one that has already brought the people of

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