It is difficult to fathom whether the ongoing moves, especially by a growing number of BRICS nations, towards a cashless society are being introduced by their own sovereign leaders, or from threats, intimidations, and pressures being placed upon them by globalist entities. But either way, what started out last year as theoretical suggestions by a few academic elites chirping from their ivory towers has now morphed into a movement that is growing in strength all around the world.
German Chancellor Angela Merkel has efficiently kept her office over the past decade by primarily ensuring that the German economy has been insulated from the most important economic data point in the minds of the people... that being inflation.
On Feb. 16 a piece of news came out showing the accelerating decline of the Greek financial system as more and more people and businesses are conducting a new run on the banks. And perhaps what is most interesting is that the public no longer trusts the Syriza government, or the Troika, and are getting their money out of Dodge long before 'talks' get into high gear.
The ascension of Donald Trump to the office of President marked a paradigm shift for the nation's central bank, which has run autonomously and without any real oversight for the past eight years. But now a day of reckoning is coming upon the Federal Reserve, and it is appearing more and more that these 'academic economists' are more apt to quit and run than to face up to the havoc that their failed monetary policies have created.
As Mexico, Australia, the European Commission, Iran, China, and even Germany are quickly finding out, Donald Trump is not the type of cool, calm, and collected diplomat that they have been able to run roughshod over in the White House for the past 8 to 24 years. In fact, as one former Australian National Security Adviser acknowledged yesterday, Trump has made everything assumed of America in the past null and void.
Perhaps the biggest irony regarding last weekend's Executive Order signed by President Trump in which he ordered a temporary ban on incoming visitors and refugees from certain Middle Eastern states, was that the majority of protesting and outrage came from people who actually have no skin in the game when it comes to the vetting of foreign individuals.
One of the primary reasons why the Federal Reserve has become so powerful in the last two decades is because the Legislative and the Executive Branches of government have passed the buck of fiscal responsibility over to the hands of the central banks. In fact, following the taxpayer funded bailout known TARP, the long-time Senator from New York publicly told the central bank it was their time to 'get to work'.
All of a sudden, the UK received a shot in the arm on Thursday as the Office for National Statistics (ONS) reported that Britain was the best performing economy of the G7 countries in 2016 despite the fact they voted last June to leave the Eurozone.
There is no denying that online retail has crossed the Rubicon and is now a primary choice for consumers to use in purchasing nearly any good or service they desire. And just like the automobile helped in the elimination of the horse and buggy industry back at the turn of the 20th century, online retail is doing its part in destroying the paradigm of brick and mortar businesses.
As thousands of $40 hot dog eaters in Davos, Switzerland discuss how they should deal with the rise of global populist movements, one central banker shockingly has thrown up his hands in surrender and appears ready to face the inevitability of an EU breakup.