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Currency

War on Cash Spreads to India

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Posted by John Browne - Euro Pacific Capitalital

on Thursday, 15 December 2016 07:12

new-world-order-war-on-cash-900x350Over the past year, central banks, commercial bankers and prominent economists have expressed the view that digital money and transfers should replace large denomination cash and cash transactions. This dramatic transition has been fostered under the guise of the public interest in an effort to curb terrorism, tax evasion and criminal activity. Many observers contemplate more sinister motives that involve increased government control of economic activity. The latest country to engage in this 'war on cash' is India.

In a TV announcement on November 8th, India's Prime Minister Narendra Modi announced that the Reserve Bank of India's large denomination 500 and 1,000 rupee bank notes, worth some $7.5 and $15 respectively, would lose their status as legal tender on midnight on December 31, 2016. That meant holders of those notes (which represent 86 per cent of the value of all outstanding rupee notes) had less than two months to exchange the notes for smaller new notes, or lose out completely. The government also mandated than any large exchanges had to be accompanied by tax returns in order to prove that the cash generated had already been taxed.



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Currency

The oil currency—Norwegian Krone; is it undervalued? Hmmm…

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Posted by Jack Crooks - Currency Currents

on Monday, 12 December 2016 10:41

Quotable

“I saw a report yesterday. There's so much oil, all over the world, they don't know where to dump it. And Saudi Arabia says, 'Oh, there's too much oil.' They - they came back yesterday. Did you see the report? They want to reduce oil production. Do you think they're our friends? They're not our friends.”

                                                                                          --Donald Trump

Commentary & Analysis

The oil currency—Norwegian Krone; is it undervalued?  Hmmm…

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Currency

All of the World’s Money and Markets in One Visualization

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Posted by Visual Capitalist

on Friday, 09 December 2016 03:02

Screen Shot 2016-12-09 at 1.54.26 AMAll of the World’s Money and Markets in One Visualization

How much money exists in the world? 

Strangely enough, there are multiple answers to this question, and the amount of money that exists changes depending on how we define it. The more abstract definition of money we use, the higher the number is.

In this data visualization of the world’s total money supply, we wanted to not only compare the different definitions of money, but to also show powerful context for this information. That’s why we’ve also added in recognizable benchmarks such as the wealth of the richest people in the world, the market capitalizations of the largest publicly-traded companies, the value of all stock markets, and the total of all global debt.

The end result is a hierarchy of information that ranges from some of the smallest markets (Bitcoin = $5 billion, Silver above-ground stock = $14 billion) to the world’s largest markets (Derivatives on a notional contract basis = somewhere in the range of $630 trillion to $1.2 quadrillion).

In between those benchmarks is the total of the world’s money, depending on how it is defined. This includes the global supply of all coinage and banknotes ($5 trillion), the above-ground gold supply ($7.8 trillion), the narrow money supply ($28.6 trillion), and the broad money supply ($80.9 trillion).

All figures are in the equivalent of US dollars.



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Currency

Euro swings to steep decline as ECB’s Draghi holds news conference

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Posted by Marketwatch

on Thursday, 08 December 2016 07:47

MW-EZ963 100 do 20161110112602 ZHIn a bout of intense volatility, the euro swung from a sharp gain to a steep decline Thursday after the European Central Bank said it would begin tapering its massive monthly bond-buying program in April. 

The ECB’s decision surprised many market strategists and investors who had expected the central bank to extend its program of buying public and private eurozone debt at its present pace of €80 billion ($80.6 billion) for most of 2017. Instead, the central bank announced it would taper the program to €60 billion ($64 billion) beginning in April. The central bank also left interest rates unchanged, as expected. 

Looking ahead, the Federal Reserve is widely expected to raise interest rates at the close of its two-day policy meeting on Wednesday. Fed-funds futures, used by investors to speculate on the direction and pace of rising interest rates, were pricing in a more than 97% probability of a hike next week. 

....continue reading HERE

 

...also: How Italy’s ‘no’ vote might be the ECB’s silver lining



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Currency

Central Banks Overwhelmed by Market Forces

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Posted by Steven Saville

on Wednesday, 07 December 2016 09:51

weak-dollarEvery central bank wants a weaker US$

Every central bank in the world, including the US Federal Reserve, now wants a weaker US$, which proves that central banks can be overwhelmed by market forces even when they are united in their goals.

Central banks outside the US want a weaker US$ due to the long-term consequences of the actions that they themselves took many years ago to strengthen the US$. To put it another way, they now want to strengthen their own currencies against the US$ because their economies are suffering from the inevitable ill-effects...

......continue reading HERE

 

....related: James Dines on the US Federal Reserve:

The Legend Jim Dines



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