Wednesday, 17 February 2016
Well, things are really moving along in the Banker's war on cash (paving the way to the nirvana called NIRP).
- How many hours has it been since the ECB decided to kill the Euro 500 note?
Larry Summers* in a WashPo op-ed titled "It's time to kill the $100 bill" has called for "a moratorium on printing new high denomination note(s) would make the world a better place." Consider that the camel's nose under the tent of doing away with the C-note, aka Bennie.
- Bear in mind that the $100 bill comprises $1.08 trillion of the total $1.38 trillion of physical dollars circulating.
This guy has never been right about anything in his life, and has been competing with Krugman over who could be more misguided and/or dimwitted in things economic, until now.
- He is absolutely RIGHT this time. Just not in the way he meant, and accidentally and unintentionally.
YES this would make the world a better place for Central Bankers and their pals, as it clears the way to go full-retard.....er, full-NIRP.
The world would NOT SO MUCH be a better place for everyone else who will have nowhere to hide, or be safe, from these sociopathic financial predators.
A cashless society is a slave society, but that seems to be the point of this urgent post-Davos drive towards Das Kapital Kontrols.
A time to kill? It's probably past time to kill Central Bankers and assholes like Summers.....hanging them would be a good start towards recovery.
- Nothing they have done to date has helped things one bit, in fact, all their policies to date have accomplished quite the opposite of being helpful.
[For Keynesians read: harmful]
*And just who is this dwarfish intellect known as Larry Summers who giving us the 'benefit' of his sage advice?
- He was Clinton's Secretary of the Treasury, and influential in the repeal of the Glass-Steagall Act (the legislation passed after the "Great Depression" that was designed to avoid such a disaster from ever happening again).
- He was Director of Obama's Economic Council, best known for (literally) "sleeping on the job" and crafting the "recovery" (pardon the redundancy) aka the current and continuing "Great Recession."
- That he currently is growing lichen in the Halls of Macadamia (Harvard), further adds to his 'street creds' as being out of touch with anything remotely resembling reality, not to mention being clueless.
From Theo Spark at 10:22