Economic Articles from 2018

A New Stealth Attack in EU’s “War on Cash”

[Justice]
A New Stealth Attack in EU’s “War on Cash”
by Don Quijones
Posted January 5, 2018

war on cash state sanctioned theftThe EU’s Orwellian-dubbed Civil Liberties and Economic Affairs committee has approved tough new rules on cash that travelers might bring into or take out of the bloc. It’s also broadened the definition of cash to include precious stones and metals and prepaid credit cards.

For the moment the new definition does not include Bitcoin and other cryptocurrencies, for one simple reason: “customs authorities lack the resources to monitor them.”

Most importantly, the draft law will enable authorities to impound “cash” below the traditional €10,000 threshold, if criminal activity is suspected. The new rules would repeal the First Cash Control Regulation (CCR) from 2005, which requires individuals to declare sums over €10,000 when leaving or entering the EU. More…

The Greatest Bubble Ever: Why You Better Believe It, Part 2

[Economic]
The Greatest Bubble Ever: Why You Better Believe It, Part 2
By David Stockman
Posted January 3, 2018

biggest bubble everAs usual, however, the home gamers are the last to get the word. The unaccountable final spasm of the stock market in 2017 will undoubtedly come to be seen as the last call of the sheep to the slaughter. And owing to the speculative mania that has been fostered by the Fed and its fellow-traveling central banks, it now appears that the homegamers are all-in for the third time since 1987.

Indeed, Schwab’s retail clients have never, ever had lower cash allocations than at the present time—not even during the run-up to the dotcom bust or the great financial crisis.

But this time these predominately baby-boom investors are out of time and on the cusp of retirement—if not already living on one of the Donald’s golf resorts. When the crash comes they will have no opportunity to recover—-nor will Washington have the wherewithal to stimulate another phony facsimile of the same. More…

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