Over the last month, the Japanese yen has seen a sharp devaluation against the U.S. dollar. As we continue through the first week of December, Tokyo’s Nikkei 225 stock index has also taken a hit. Yes, this is largely due to the dollar being on a tear during the post-election “Trump Rally.” However, the eventual […]
In the West, the general public tends to trust the strength and integrity of our financial system with the unquestioned faith of, frankly, a cult. If this wasn’t the case, fiat currencies like the U.S. dollar would already have succumbed to their inevitable death. This faith holds despite the increasingly frequent financial crises and good […]
Perhaps even more so than its major counterparts in North America and the Asia-Pacific region, the European Union (EU) has been unable to escape from its years-long economic conundrum.
The next few months could be a bumpy ride for gold prices, according to analysts at Citigroup.
Some call it the “War on Cash.” Others, citing studies, suggest we are approaching “Peak Cash,” referencing the similar transformation that will accompany environmental constraints such as “Peak Oil.” No matter what you choose to call it, the world’s advanced economies are all hurtling toward a system of fully digitized money—perhaps coming as soon as […]
There has been a great deal of experimentation with physical money over the last decade, with government mints around the world attempting to stay a step ahead of would-be counterfeiters. The Bureau of Printing and Engraving in the U.S. updated its $100 note design a few years back, for instance, and more changes appear to […]
Throughout the modern era (roughly since gold and silver specie ceased to be used as circulating currency), coins and banknotes have been the fiat tokens we use to represent money. However, like the rest of our society, the financial system has undergone a rapid transformation in the Digital Age.
Ed D’Agostino of Hard Assets Alliance quickly sums up the state of geopolitics at the moment: “The U.S. election is rapidly approaching. Brexit looms large over the European economy. Rogue terrorists attack without warning and the migrant crisis continues to threaten Europe’s security. In the face of such volatility, it’s more important than ever to […]
If you haven’t heard about the coming global monetary crisis yet, you don’t need to venture to the farthest corners or darkest depths of the Internet to find out. Sources in the mainstream media like Business Insider and CNBC have even been picking up on this concept. The signs abound that this pending crisis could […]
It is becoming less and less common for the average layperson to understand where our financial and monetary systems originated from. Many people are wholly unaware of the gold standard that was in place for much of modern history prior to WWI. Even as the 20th century progressed, there was a reasonably stable gold-exchange standard […]
It’s often very difficult to get a firm handle on what markets are doing—and why. This has become especially true in this unprecedented age of negative interest rates.
The big banks are no strangers to paying huge fines to regulators. This has become especially true since the various forms of market manipulation, price rigging, and other unethical conduct by these financial institutions has come to light over the last several years. Megabank JPMorgan has been at the center of these controversies. Now, one […]
There are a variety of common arguments made against gold’s economic value. Liberal economists believe it is merely a “barbarous relic” from a simpler time. Stockbrokers liken it to a “glorified pet rock” and point out that gold has no yield and often costs money to store. As an example of how far some people […]
Seven years after a messy death, the Zimbabwe dollar is poised to return. The country, which uses the US dollar as legal tender, is facing a severe cash shortage. An estimated $2 billion in US currency left the country last year, causing even greater hardships for its struggling economy. In an effort to reduce the […]
It is fairly commonly known investing insight that gold performs well when the dollar falls. This inverse dynamic is also true with any other fiat currency; it’s just most apparent with the dollar, which makes up such a huge part of the global monetary order. However, it should be noted that gold’s unique monetary properties […]
We have seen attempt after attempt to eliminate large-size banknotes and physical money altogether. This is often referred to as the “War on Cash,” and rightly so. Once all money is digitized, nothing more than little numbers flashing across computer screens, the banks will have virtually unlimited power to control every last cent of money […]
Things aren’t looking particularly good for the Chinese economy. Nonetheless, the country’s economic leaders are assuring the international community that the government will not engage in any further currency devaluation. Anxiety over Beijing perpetuating a so-called “Currency War” against its international counterparts has not effectively been quelled yet.
First it was the confiscation of all gold coins, followed by the retirement (demonetization) of silver coins. Each of these events led to federal governments around the world deeming their legal tender backed by bullion (typically called “gold certificates” and “silver certificates”) no longer valid. Now, governments are trying to do away with cash just […]
In the latest news regarding Iran’s insistence that all international transactions (including oil sales) be conducted in euros, Brazil has become the first Latin American country to buy in to Tehran’s anti-dollar campaign. Iran is interested in Brazilian cars, trucks, jetliners, as well as replacement equipment for its refineries and oil wells. These sales would […]
Do you smell the smokey scent of burning paper? That’s the beginning of the impending War On Cash. A recent editorial that appeared on Bloomberg Business today boldly declares, “Bring On the Cashless Future.” In reference to the growing push for fully digital currencies to replace other forms of money, the editorial staff extols the […]