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”→
Mr. Obama, the economy is NOT doing well…anywhere!
1/15/16 – The news is not getting any better for the economy. Today the DOW plunged another 391 points wracking up a 1,437 point drop just in the first two weeks of the year. The S&P lost 2.3%, and NASDAQ lost 2.7% to the lowest level since October 2014.
China officially calls for new global currency in surprise proposal by Beijing’s central bank governor.
China is calling for a global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week’s London summit on the financial crisis. The world economic crisis shows the “inherent vulnerabilities and systemic risks in the existing international monetary system,” Gov. Zhou Xiaochuan said in an essay released Monday by the bank. He recommended creating a currency made up of a basket of global currencies and controlled by the International Monetary Fund and said it would help “to achieve the objective of safeguarding global economic and financial stability.”