Showing posts with label banking. Show all posts
Showing posts with label banking. Show all posts

Two BIG Reasons NOT To Keep Your Cash In The Bank

by Mark Nestmann.     Don't lose your life savings. It’s bad enough depositing your money into a bank account and earning essentially zero interest on it, or in some countries, having a negative interest rate. It’s even worse knowing that once you deposit your money in a bank, it’s not really yours anymore. You have turned over your property to    ... MORE

Robert Gore: How To Defeat Your Government

This outcome does not require a plan.     In a recent article, “How to Defeat Your Enemies,” SLL maintained that governments and their people were natural enemies, and that the most powerful adversarial tactic is “getting one’s enemies to fool themselves.” The article detailed the effective use of this tactic by Osama bin Laden and al Qaeda. ... MORE

Will Our Freedoms Survive Another Presidential Election?

by John W. Whitehead. Who needs bread and circuses when you have the assortment of clowns and contortionists that are running for the White House? Truly, politics in America has been reduced to a three-ring circus complete with carnival barkers, acrobats, contortionists, jugglers, lion tamers, animal trainers, tight rope walkers, freaks, strong men,  ... MORE

Janet Yellen Fights The Tide Of Falling Interest

by Keith Weiner.     On Wednesday Dec 16, Federal Reserve Chair Janet Yellen announced that the Fed was raising the federal funds rate by 25 basis points. Let’s get one thing out of the way. This is not a move towards free markets. Whether the Fed sets interest lower, or whether it sets interest higher, we still have central planning. We still have price ... MORE

Mike Bird: This Is How A Central Bank Could Kill Off Cash And Bring In Negative Interest Rates On Your Savings

A bank may not be the best place for your money.   Since the financial crisis, the world's understanding of economics has been undergoing a lot of rapid change. Ideas that would have been considered crazy just a decade ago are now seen as much more likely. One of those ideas is that central banks could bring in negative interest rates. ... MORE

Gonzalo Lira: The Coming Middle-Class Anarchy

The reward of playing by the rules.    True story: A retired couple I know, Brian and Ilsa, own a home in the Southwest. It’s a pretty house, right on the manicured golf course of their gated community (they’re crazy about golf). The only problem is, they bought the house near the top of the market in 2005, and now find themselves underwater.    ... MORE

Joseph T. Salerno: Why Government Hates Cash

Overlords favor supervised spending.    In April it was announced that Greece was imposing a surcharge for all cash withdrawals from bank accounts to deter citizens from clearing out their accounts. So now the Greeks will have to pay one euro per 1,000 euros that they withdraw, which is one-tenth of a percent. It doesn’t seem very big, but the ... MORE

Peter Schiff: Currencies Depend On Faith, Gold Doesn’t

Considering the intrinsic value of paper.    In his July 17th Blog, Let’s Get Real About Gold, author and Wall Street Journal columnist Jason Zweig likened investor interest in gold with the “Pet Rock” craze of the 1970’s, when consumers became convinced that a rock in a box would provide continuous companionship, elevate their social standing,  ... MORE

How Bitcoin Can Save You During A Financial Crisis

by Robert Taylor.     A little rebellion. What would you do if the US government suddenly announced a bank holiday, limits or bans on ATM withdrawals or other types of cash and capital controls? Or implemented a “bail-in” where part of your bank deposits were used to further pyramid debt and save an oligarchical financial system? Is there any doubt  ... MORE

Keith Weiner: They’re Coming To Take Away Your Cash

Do banks serve you or politicians?   The stories are all over the Internet. Governments are forcing us into a cashless society. Supposedly the pretext is terrorism, and the real reason is to take more control. No doubt more power appeals to politicians, and banning cash seems like the next step after mandatory reporting of cash transactions.        ... MORE

When It’s A Crime To Withdraw Money From Your Bank

by Josh Barro.    Dennis Hastert has not been indicted on a charge of sexual abuse, nor has he been indicted on a charge of paying money he was not legally allowed to pay. The indictment of Mr. Hastert, a former House speaker, released last week, lays out two counts: taking money out of the bank the wrong way, and then lying to the F.B.I. about     ... MORE

The Federal Reserve: Promises vs Track Record

by Thomas Sowell.  Now that the federal government is playing an ever larger role in the economy, a look at Washington’s track record seems to be long overdue. The release of the Federal Reserve Board’s transcripts of its deliberations back in 2007 shows that their economic prophecies were way off. How much faith should we put in their prophecies   ... MORE

John Stossel: The Next Bubble

They're doing it again!      When the last housing bubble burst, politicians blamed "greedy banks." They said mortgage companies lent money recklessly, making loans to people with dubious credit, for down payments as low as 3 percent. "It will work out," said the optimistic bankers. Regulators didn't disagree. Everyone said, "Home prices  ... MORE