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Keyword: moneyprinting

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  • Zimbabwe To Print Its Own US Dollars Amid Severe Cash Shortage

    05/07/2016 12:20:37 PM PDT · by Lorianne · 82 replies
    Zero Hedge ^ | 06 May 2016 | Tyler Durden
    When Jim Chanos said earlier this week that days ago that sub-Saharan Africa is facing a severe cash shortage (mostly as a result of their collapsing oil export revenue) he probably did not have the economic basket case of Zimbabwe in mind, and yet this is the country which, after years of monetary and economic collapse "problems", including the occasional bout of hyperinflation, finds itself in the most dire situation. As News24 reports, just this past week, Zimbabweans formed long queues outside banks on Thursday as a cash shortage prompted the government to announce plans to print a local version...
  • James Grant: ‘Something Is Going to Go Wrong’

    04/17/2016 3:03:53 PM PDT · by george76 · 8 replies
    Epoch Times ^ | March 9, 2016 | Valentin Schmid
    Chief editor of Grant's Interest Rate Observer debunks negative interest rates, banning cash, and helicopter money. ... Epoch Times spoke to Mr. Grant about the spotty track record of central bankers, deflation, gold and the gold standard, as well as negative interest rates and a ban on cash. A negative interest rate is not only a tax on saving, it is the destruction of saving. ... Negative interest rates are an attempt to tax thrift. The idea of earning dollar bills and putting those dollar bills in a bank and having them accumulate over time, the accumulation of which is...
  • Bank of Israel cuts rate to historic low

    02/23/2015 9:29:28 AM PST · by Olog-hai · 2 replies
    Yedioth Ahronoth News ^ | 02.23.15, 18:10 | Amnon Atad
    The Bank of Israel lowered its benchmark interest rate on Monday to an all-time low of 0.1 percent on Monday. The move came as a surprise, after 11 of 12 economists polled by Reuters had expected the central bank to stand pat. The central bank cut the rate to signal its determination to push back against the negative inflation holding down the market towards its intended annual target of one to three percent. Lowering the interest rate theoretically leads to an increase in demand within the market and helps increase prices towards the inflation target which the Bank of Israel...
  • Survey: Economists say Fed is on ‘the right track’

    08/24/2014 11:50:29 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Aug 25, 2014 12:39 AM EDT | Ken Sweet
    A majority of economists believe the Federal Reserve is doing the right things to help repair the U.S. economy, according to a survey released Monday by the National Association of Business Economists. The survey also showed that a vast majority of economists believe the U.S. economy is at little risk of inflation in the coming years. In the association’s semiannual survey, 53 percent of economists said the Fed’s stimulus programs were “on the right track” for the U.S. economy while 39 percent thought the Fed was doing too much. …
  • As He Clips Our Coins, Bernanke Steals A Page From Nero's Playbook

    10/01/2013 9:38:18 AM PDT · by george76 · 82 replies
    Forbes ^ | 9/25/2013 | Keith McCullough
    In 64 A.D., in a naďve attempt to deceive the populace, Nero decreased the silver content in the coins and made silver and gold coins slightly smaller ... central planners have been clipping coins and devaluing the The People’s hard-earned currency for at least two thousand years. The Roman Emperor Nero of course devalued the Roman currency for the first time in the Empire’s history. What was it that gave both the Roman and Ottoman Empires the audacity to plunder the purchasing power of their people? After 200 years of operating as an independent bank, what made the British Empire...
  • Marc Faber: "People With Financial Assets Are All Doomed"

    06/02/2013 10:55:04 AM PDT · by Lorianne · 22 replies
    Zero Hedge ^ | 01 Jun 2013 | Tyler Durden, quoting Mark Farber
    As Barron's notes in this recent interview, Marc Faber view the world with a skeptical eye, and never hesitates to speak his mind when things don't look quite right. Faber explains, among other things, the fallacy of the Fed's help "the problem is the money doesn't flow into the system evenly, how with money-printing "the majority loses, and the minority wins," and how, thanks to the further misallocation of capital, "people with assets are all doomed, because prices are grossly inflated globally for stocks and bonds." Excerpted from Barron's: On the error of the Fed's ways: The Fed has been...
  • Money In Bad Faith - The Depredations Of The Fed

    01/20/2013 12:47:20 AM PST · by zeestephen · 5 replies
    The Weekly Standard ^ | 28 January 2013 | Judy Shelton
    Monetary policy today delivers the biggest benefits to the world’s largest borrower​ —​ our federal government. The Fed [harms] people who actually contribute real value to the economy, who live and work in the belief that saving is a virtue.
  • Atlantic Magazine Proclaims Ben Bernanke "THE HERO"

    03/23/2012 5:08:24 AM PDT · by Kaslin · 8 replies · 2+ views ^ | March 23, 2012 | Mike Shedlock
    If you are looking for the most nauseating cover possible on Ben Bernanke, please consider the April 2012 issue of the Atlantic. The cover asks the question "Ben Bernanke saved the global economy. So why does everyone hate him?" For starters Ben Bernanke did not save the global economy. Making such a proclamation is like a football fans proclaiming victory at the end of the third quarter with the score 54-24 following a 24 point rally after being down 54-0. Simply put, it is far too early to make a presumption the Fed "saved" anything given the global economy remains...
  • Under Obama, Price of Gas Has Jumped 83 Percent, Ground Beef 24 Percent, Bacon 22 Percent

    01/24/2012 4:25:59 PM PST · by OPS4 · 41 replies
    CNS news ^ | 1/24/12 | Christopher Goins
    So far, during the presidency of Barack Obama, the price of a gallon of gasoline has jumped 83 percent, according to data from the Bureau of Labor Statistics. (AP Photo) During the same period, the price of ground beef has gone up 24 percent and price of bacon has gone up 22 percent. When Obama entered the White House in January 2009, the city average price for one gallon of regular unleaded gasoline was $1.79, according to the BLS. (The figures are in nominal dollars: not adjusted for inflation.) Five months later in June, unleaded gasoline was $2.26 per gallon,...
  • Germany Is Already Printing Money - Deutsche Marks

    10/26/2011 11:17:46 AM PDT · by little jeremiah · 152 replies · 1+ views
    Seeking Alpha ^ | October 26, 2011 | Graham Summers
    By now everyone realizes that the euro is in major trouble and will no longer exist in its current form for much longer. However, the common view is that it is Greece and possibly other PIIGS countries who will be forced out if the eurozone is broken up. But few are talking about another possibility- of Germany leaving the EU. One who is talking about this is Dr. Pippa Malmgren, a former economic advisor to George W. Bush and a former advisor to Deutsche Bank (DB). According to Malmgren, Germany has already ordered the printing of Deutsche Marks in anticipation...
  • Faber: Brace for a Global 'Reboot' and a War(ready for total collapse)

    08/05/2011 8:11:19 AM PDT · by TigerLikesRooster · 34 replies
    CNBC ^ | 08/05/11 | Peter Guest
    Faber: Brace for a Global 'Reboot' and a War Published: Friday, 5 Aug 2011 | 7:51 AM ET By: Peter Guest Staff Writer, Markets could rebound after Thursday's global market sell-off, but investors should see any bounce as a selling opportunity, as the world economy rolls towards total collapse, Mark Faber, editor and publisher of the Boom, Doom and Gloom Report, told CNBC Friday. /snip "In general, I would be using rebounds as a selling opportunity," Faber said. Buying Treasurys as a safe haven is no longer a smart play, he added. "I think Treasurys are perceived still as...
  • ROUBINI: QE3 Has Begun (Are we zimbabwe yet? More money printing)

    08/04/2011 6:55:32 AM PDT · by Halfmanhalfamazing · 80 replies
    Business Insider ^ | August 4th | Nouriel Roubini
    On Twitter, Nouriel Roubini declares that the latest currency interventions from Switzerland and Japan represent the start of QE3, ultimately ending in more Fed easing.
  • Why Japan Feels the Need to Print Money

    03/17/2011 6:38:01 AM PDT · by OB1kNOb
    The Daily Reckoning ^ | 03/16/11 | Bill Bonner
    The latest from AP: NEW YORK (AP) – Stocks fell sharply Tuesday as the nuclear crisis in Japan weighed on global markets. The stock market dropped at the start of trading on news that dangerous levels of radiation were leaking from a crippled nuclear plant. The plant was damaged in last week’s earthquake and tsunami. Japan, the world’s third-largest economy, accounts for 10 percent of US exports. Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners, said fear had taken hold in the market. “It’s a situation where you sell, and you ask questions later,” he said....
  • Federal Reserve Debt Monetization Explained

    08/13/2010 12:57:10 PM PDT · by Razzz42 · 19 replies · 1+ views
    The National Inflation Association ^ | August 13th, 2010 | VisionVictory
    Educational video about debt monetization.
  • RBS tells clients to prepare for 'monster' money-printing by the Federal Reserve

    06/28/2010 6:43:09 AM PDT · by SeekAndFind · 10 replies · 1+ views
    The Telegraph ^ | 06/27/2010 | Ambrose Evans Pritchard
    As recovery starts to stall in the US and Europe with echoes of mid-1931, bond experts are once again dusting off a speech by Ben Bernanke given eight years ago as a freshman governor at the Federal Reserve. Entitled "Deflation: Making Sure It Doesn’t Happen Here", it is a warfare manual for defeating economic slumps by use of extreme monetary stimulus once interest rates have dropped to zero, and implicitly once governments have spent themselves to near bankruptcy. The speech is best known for its irreverent one-liner: "The US government has a technology, called a printing press, that allows it...
  • What the Zimbabwean and Caracas Stock market may have in common

    04/17/2007 8:46:05 PM PDT · by Kitten Festival · 4 replies · 327+ views
    The Devil's Excrement ^ | 17 April 2007 | Miguel Octavio
    I was struck by this article in Publiuspundit about the best performing stock market in the world in 2006: you see the chart above corresponds to the Zimbabwe stock market, which despite being one of the least friendly countries to investment in the world had that outstanding performance. up 555% in 2006. According to the Luwig Von Mises Institute in Austria the explanation is simple: “This is what we are seeing in Zimbabwe. With the country suffering from Mugabe's catastrophic policies, increasingly the only means for the government to fund itself has been money-supply growth. This has only exacerbated the...
  • Just Because Milton Friedman Died Does Not Mean You Can Print Money At Will

    11/23/2006 12:16:50 AM PST · by Kitten Festival · 3 replies · 225+ views
    The Devil's Excrement (Venezuela) ^ | 23 Nov 2006 | Miguel Octavio
    Today former Chavez Minister of Finance Tobias Nobrega was trying to justify that monetary liquidity is not too high, by saying that it was only 25% of GDP. Well, that may be true in a country with positive returns on savings, but when banks pay 6% and inflation is running at 15%, money is looking to get out, which is why the current large liquidity is pushing the swap or parallel market up. The size of GDP is irrelevant, in fact, the devaluation will simply shrink GDP and bring it down to the right size. Below, I have a different...