Negative Interest Rates
It is being put forth that in order to deal with a rapidly strengthening dollar that will make American goods and services more expensive abroad and slow both U.S. growth and inflation, the Fed will start charging negative interest rates on bank reserves. This could ripple through the markets and result in negative interest rates on savings at banks. The idea of real money in the mattress is sounding better and better.
End of the Euro
The speed at which the euro has been falling in recent months has been stunning, and now with the the European Central bank creating more than a trillion euros out of thin air over the next 18 months to buy mounting debt, things are likely to get a lot worse. After all, the divergent economies with divergent labor market trajectories within the Eurozone cannot strive when tied to the same currency. And with the Greeks voting for a free lunch err… the Syriza party, what could go wrong?
Bill Gates is now promoting “digital currency” in third-world countries, which will make the poor even more dependent on central banks while also turning them into guinea pigs for the development of a “cashless society” in the U.S. and Europe. Yes, with a banana government-controlled currency, it will be easy for government officials to impose a tax and confiscate money automatically.
IRS Contracts Out
The IRS has awarded a $4.5 million IT contract to the same company that the was fired for their botched work on the Obamawreck website to oversee the Obamawreck tax program. A review of the Obamawreck website found over 21,000 lines of defective software code and this company is going to handle billions of dollars in taxes?
A bill has been proposed to make IRA accounts easier for people. Of course this is only the first step of five…
Step 1: Create IRA accounts.
Step 2: Mandate IRA accounts.
Step 3: Require IRA accounts to invest in U.S. Bonds.
Step 4: Nationalize the IRA accounts.
Step 5: Raid and confiscate IRA accounts.
This may be the real reason that White House officials say that this is a ‘win-win’ situation.
Not Able To Read
After injuring his face in an exercise accident, Senator Harry Reid states that he has not been able to read. Well, considering that many in Congress do not read the bills that they vote on, this will not affect his performance.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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