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Eliminating Cash – The NEW AGE of Economics

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Posted by Martin Armstrong - Armstrong Economics

on Wednesday, 16 November 2016 12:32

Tax-RobberyQUESTION:

What is your view on the Indian government banning large denomination bills and why such a small window of time to get them turned in?
PB

ANSWER: Unfortunately, the theory is that cash prevents governments from maintaining negative interest rates. They want to “tax” the mere possession of money. Eliminate cash, and then they think they can stimulate the economy without creating inflation and they will be in total control. They view that the reason Marxist/Keynesian philosophy failed is because of cash. People can hoard money and thus exit the system. They cannot stop that unless they eliminate money.

This is what the NEW AGE of economics is all about. They next level of taxing you for merely having money. Indian Prime Minister Narendra Modi has announced that the 500 ($7.60) and 1,000 rupee banknotes will be withdrawn from the financial system overnight. This is all about taxes.

Everyone should pay attention here. Governments can simply cancel a currency overnight. The ECB wants to eliminate the 500 euro note and Larry Summers is arguing to end the $100 bill in the USA. These people want to tax everything and see that interest rates can be negative forever if they get rid of cash. They are totally insane.

....related: 

War on Cash intensifies: Citibank to stop accepting cash at some branches

by Simon Black

Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia.

Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.”

...continue reading HERE



Personal Finance

Graham's 4 Vital Elements

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Posted by Thomas Macpherson

on Tuesday, 15 November 2016 07:03

iStock reading book 2013 12 28When things are not working out, a lesser-known piece of Graham's writing can show you the way

One of the most overlooked sections in great value investing writing is chapter two in Benjamin Graham and David Dodd’s classic “Security Analysis." [1] Entitled “Fundamental Elements in the Problem of Analysis. Quantitative and Qualitative Factors,” the chapter is filled with insights on both an investor’s approach and views on data and information about possible investments. 

....continue reading HERE

 

...also:

Post Election: Pause, Reflect, and Act Carefully



Personal Finance

Post Election: Pause, Reflect, and Act Carefully

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Posted by Dash of Insight

on Thursday, 10 November 2016 06:50

caution-proceed-carefully-clip-art-at-clker-com-vector-clip-art-Wb1pbu-clipartTake a deep breath. Or maybe two.

The biggest trap for investors during an aggressive political campaign? Allowing the political narrative to become the foundation for your portfolio decisions. I have frequently advocated that investors should be “politically agnostic,” willing to make sound investments regardless of who is in power. This is always easier said than done, particularly in an environment of extreme claims.

Acting emotionally and without sufficient thought is usually a costly mistake. Those who sold all stocks when President Obama was elected missed a huge rally. Those who sold futures contracts on the breaking news last night also have big losses this morning. Here are some key points:

...read 1 thru 4 HERE

...related from Larry Edelson:

The Trump Win. What to do …



Personal Finance

President Trump and the Fall of Davos Man & When Elites Fail

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Posted by John Mauldin - Mauldin Economicscs

on Thursday, 10 November 2016 06:41

113306409 NEW YORK NY - NOVEMBER 09  Thousands of anti-Donald Trump protesters shut down 5th Avenue transVYxRx2 9udgNR4uaqOYbBvks6nzheoCJCWn0mmbs TUWe had a very late night in the Mauldin household, as I’m sure many of you did. I truly was unsure what to expect from this election, and I was as surprised as anyone when the Trump victory started taking shape. At our election party there were many of my neighbors who were ardent Hillary supporters, and they were shocked, as was much of the national media.

The real losers? Polling companies and those who create models built around them. It turns out that when you really need a poll to work, the model breaks down. Not unlike the models built by the Federal Reserve and many financial planners. Blame natural complexity, for starters.

I keep telling people that past performance is not indicative of future results, and yet even I am surprised (I ruefully admit) at the woeful inadequacy of the predictions of political polls this time around. Brexit? The US? Bring on Italy and France.

Today I have two short, thoughtful post-election articles for you from Gavekal co-founders Louis Gave and Charles Gave. (Charles lives in France, and Louis moves between Hong Kong and Vancouver.) They are among the most “global” people I know, but you will see that they view this election outcome quite differently from the stereotypical globalists. They see the elitist world created by what Charles calls “Davos man” cracking up all over the place as pushback intensifies from the unprotected classes – those left out of the party of globalism and world growth that has developed over the last 30 or so years.



Read more...

Personal Finance

Jim Rogers: Long-term bull market is over, Clinton & Trump a lose:lose proposition

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Posted by Jim Rogers via The Economic Times

on Tuesday, 08 November 2016 08:10

Screen Shot 2016-11-08 at 7.03.06 AMIn an interview with ET Now,  Jim Rogers, author, Street Smarts: Adventures on the Road and in the Markets, says though he registered a protest vote and did not vote for either Clinton or Trump, he thinks Trump will likely triumph over Hillary Clinton in US presidential elections.  

Edited excerpts  

Why are markets so nervous ahead of this Presidential election cycle? It appears as if the next US President will make or break the world? 

Yes. Remember, this cycle will bring in a new President, may be even a new party. So it is a little bit different from 2012 when chances were great that the same party and same President will return. This time it could be a great upheaval and many people are worried. I hope you are.  

...continue reading HERE

..related:

Shelter BEFORE the storm

 


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