How much louder can the “ban cash” calls get? There are calls for abolishing the $100 bill in the U.S. while the €500 note is going the way of the dinosaurs. Because people rarely use cash transactions any more, they are not concerned. In fact, in five years, only 0.5% of financial transactions in Sweden will use cash. But, if there are no more physical banknotes, people will have no economic autonomy.
Bank of Japan
The Bank of Japan’s balance sheet is growing; however, Japan’s GDP is not showing any signs that it is recovering and as indicated by the Nikkei being down 11% year-to-date. All this, while the Bank of Japan, using quantitative easing, pumped out 644 billion yen year-over-year.
Death of Paper Gold
With Blackrock suspending the issuance of new gold ETF shares, the death of paper gold picked up speed. This now suggests a tightness in the paper gold market due to the last several years of surging physical gold demand. While Blackrock has stopped, Standard & Poor’s Depository Receipt, or SPDR, has continued to issue new ETF’s while the gold market suffered a 43 metric ton deficit in the last quarter of 2015.
According to Vikram Mansharamani, author and Yale lecturer, the crash, whose waves can be felt pulsing through the system, is only six months away… If that long. He goes on to say that bubbles created by the mountain of cheap money made available by low interest rates since the last financial crisis are now starting to burst.
7 Items To Have
Here are a few of the seven items to have when the economy finally collapses…
1. Food – One look at Venezuela should be proof enough.
2. Precious Metals
3. Water purification
4. Hand tools.
Duke Protects Soda
Duke University altered a research story headline just to protect the interests of the soda industry. This is because the study concluded that the high fructose corn syrup in sodas was causing widespread disease and obesity. When it comes to controversial research, like global warming, money talks and ethics walks.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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