The doom-loop that threatens to wipe out the global economy; cashless society coming
2/12/16 – NIRP (Negative Interest Rate Policy) is taking down bank after bank and the Fed’s Janet Yellen made the statement yesterday that they are considering implementing the policy here in the U.S. They’ve already revealed a stress test with U.S. banks. Continue reading “NIRP: You better learn what this means quick”→
Is there something Haldane sees that has driven him to this extremist perspective?
Just three short years ago, Bank of England chief economist Andy Haldane appeared a lone voice of sanity in a world fanatically-religious Keynesian-esque worshippers. Admissions in 2013 (on blowing bubbles) and 2014 (on Too Big To Fail “problems from hell”) also gave us pause that maybe someone in charge of central planning might actually do something to return the world to some semblance of rational ‘free’ markets. We were wrong! Haldane appears to have fully transitioned to the dark side, as The Telegraph reports, he made the case for the “radical” option of supporting the economy with negative interest rates, and even suggested that cash could have to be abolished.
Speaking at the Portadown Chamber of Commerce in Northern Ireland, as The Telegraph reports,Mr Haldane’s support for a possible cut in rates came as the Bank as a whole has signalled that the next move in rates would be up…