The movements in the US dollar stem from what is happening in the Eurozone
Chris joins us to shed some light on news from the ECB this morning which is the driver behind the strengthening US dollar. What will end up happening with Greece is still unknown but further kicking the can down the road sounds like it might be off the table.
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Very fortuitous for the Fed Fiat Index when the Euro was unveiled in 1999 as an accounting currency.
Chris, its going to get really wild when this takes place, like rats in a maze looking for an exit, global capital flows will go parabolic!
Nigeria is also planning to go cashless JJ. The Central Bank of Nigeria has had that stated policy for several years now and is in the process of rolling it out across all its states. Originally they wanted to be there by 2020 but its going to be pushed out further because implementation is slow due to lack of equipment and point of sale devices but it’s coming. Who knows, they just might get to the finish line first. I think its important to understand though that the cashless idea will still take years to become a reality in most countries. This is taking place on an evolutionary path rather than a revolutionary model and it is growing fairly organically with the contributions of many hundreds of private companies, tech start-ups, the major banks, insurance companies, credit card vendors and mobile operators. I don’t see the idea being forced on the public at all but rather the public is embracing electronic money services because of convenience and reliability. I sure understand some people are worried though as the innovations sparked by the private sector seem to play well with governments who are most concerned about tax revenues. Basically though this is a democratic process and the public is behind the technological innovations that are being offered. How can anyone counter those forces?
Yes BIRD ! No child left behind ! Aaa sorry no country left behind and leaves the EURO ! Seems Chris so stubborn to understanding !
YES diss Girl KNOWS !!!!! !https://www.youtube.com/watch?v=QAC3EGnr9hg
In many nations, specific measures have already been taken demonstrating that the Rogoff-Buiter world of Economic Totalitarianism is indeed upon us. This is the death of Capitalism. Of course the socialists hate Capitalism and see other people’s money should be theirs. What they cannot see is that Capitalism is freedom from government totalitarianism. The freedom to pursue the field you desire without filling the state needs that supersede your own.
http://www.globalresearch.ca/why-the-powers-that-be-are-pushing-a-cashless-society/5447138
I have to quibble here over semantics…Capitalism is what is strengthened by this totalitarianism. PLEASE don’t buy the scripted pablum you’re fed that there is something good about capitalism…understand the BIG difference between it and free enterprise, which I am sure you are supporting, even though using our masters’ terminology (as they want you to.)
The Financial Times argued last year that central banks would be the real winners from a cashless society:
Central bankers, after all, have had an explicit interest in introducing e-money from the moment the global financial crisis began…
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The introduction of a cashless society empowers central banks greatly. A cashless society, after all, not only makes things like negative interest rates possible, it transfers absolute control of the money supply to the central bank, mostly by turning it into a universal banker that competes directly with private banks for public deposits. All digital deposits become base money.
http://www.globalresearch.ca/why-the-powers-that-be-are-pushing-a-cashless-society/5447138
I AGREE Matt ! Good post ! Thanks !
THE SUPREME COURT ( ISRAEL ) PYRAMID ! https://www.youtube.com/watch?v=V9vr1jHu_W8
There is an article, link provided below, which I just read that makes me believe that capitalism is not dead.
Pretty tough to counter those forces. Particularly if the people are, as you say, in favor of them.
Could be…but I remain skeptical about these developments, at least in the US. Already, 99% + of all transactions take place w/o cash. How much does the government want to risk by trying to corral the rest of it?
Imagine a ball game…between innings or half time…the computers go down, etc. The people who want to buy a hot dog and a beer…more often than not with cash…will be pissed.
The drug dealer selling drugs to kids. What’s he supposed to do… ? Get a TRW machine or some such thing to swipe a kid’s card (or chip-infused hand) to buy the drugs??
All the other stuff the feds are involved in; not only drugs, but illicit arms, etc. What are their various “terrorist” clients supposed to do…use their Master Card? Redeem a coupon on their smart phone??
Give me a break…
Actually the above (?) is a response to jj above…don’t have the slightest idea how it ended up all the way down here.
Give me a break!, everything you mention Chris is exactly why its coming, as if the powers at be give a rats ass what we think, if we are inconvenienced, your joking right?
Its all about every single cent of tax money being collected, the hot dog vendor won’t be able to lie about selling only 1000 hotdogs when he sold 2000
The drug money will continue in a black market as cash will still be excepted between buyers and sellers until the paper cash disintegrates
As they say the Lions don’t worry about what the sheep are thinking while they sleep
Trust me Chris, you know as well as I do that a method of transfer would be devised.
Got the newsletter this time. Thanks Cory.
any sell recommendations, lol
Didn’t see any, only skimmed it tho.
Was looking a bit promotional, hard not to appear that way maybe.
I completely understand bb.
What I personally was trying to accomplish was to explain my thoughts on sponsors. It is interesting because for years, I did not have any sponsors. Kathy finally hit me upside the head and reminded me that we did have expenses and that I was sending a lot of time (upwards of ten hours a day) on the show.
My response to her was that it was difficult to be impartial if someone was paying me. Here comment was to simply disclose that fact.
I compromised by charging less than 1/2 of what other similar sites charge.
What more can I say?
Any comments, bb?
This is NOT Euro$ positive, US$ negative!
Leaving the euro, wont mean greece , cant continue to use the in country currency for several months. It may be the fall before they reintroduce a national currency. I wish them luck , the greek people have been thru a lot of turmoil since WW2 . They will survive . Love to all S
I think Greece might not benefit like Iceland did if they leave the EU, for the simple reason that Greeks aren’t Icelanders. The fact that Iceland told the Banks to take a hike and actually charged bankers in court tells us that Iceland still has some substance to it.
Greece has a long-standing culture of graft and corruption. One want’s to be positive…but then there is the track record.
Good points, Peter – we shall see.
Yes there certainly is, Peter the Original
ONE DAILY AUCTION AT CHRISTIE’S BRINGS IN OVER $1 BILLION………. history in the making. ……kwn. HUGE SALE….
Today’s announcement of more ECB QE is also adding to a weaker Euro$ (as you mention Chris) the link……Germany would love a par Euro$, love it!!
http://www.zerohedge.com/news/2015-05-19/stocks-bonds-spike-after-ecb-pledge-accelerate-qe-ahead-slow-season