Chris Martenson
The War on Cash is now spreading to gold. The Powers That Be want to assure that you have no escape hatches, no means of avoiding the financial and economic pain they are about to visit upon you and yours.
They hate gold because it represents a vote against them every time someone chooses gold over their own poorly-managed fiat currency. They hate cash to the extent that real cash (i.e., physical banknotes) held outside of the banking system might allow you to avoid having your savings stolen during an overnight application of new banking rules (e..g, a bail-in) that would transfer your wealth into whatever financial hole your idiot bank executives had managed to dig for themselves.
These ridiculous moves tell me that we're nearing the end-stage of this long-running farce. Too many years of stimulating borrowing above and beyond any reasonable expectation of ever paying those debts back have now driven the system to a terminal stage.
The War On Gold Intensifies
PREVIEWThe War on Cash is now spreading to gold. The Powers That Be want to assure that you have no escape hatches, no means of avoiding the financial and economic pain they are about to visit upon you and yours.
They hate gold because it represents a vote against them every time someone chooses gold over their own poorly-managed fiat currency. They hate cash to the extent that real cash (i.e., physical banknotes) held outside of the banking system might allow you to avoid having your savings stolen during an overnight application of new banking rules (e..g, a bail-in) that would transfer your wealth into whatever financial hole your idiot bank executives had managed to dig for themselves.
These ridiculous moves tell me that we're nearing the end-stage of this long-running farce. Too many years of stimulating borrowing above and beyond any reasonable expectation of ever paying those debts back have now driven the system to a terminal stage.
“The rates we’ve had in recent years, including right now, are the lowest in history. The book that I co-authored on the history of interest rates traces back to the code of Hammurabi, Babylonian civilization, Greek and Roman civilization, the Middle Ages, the Renaissance, and early modern history right up to the present. And I can assure our listeners that the rates that they’re experiencing right now are the lowest in human history.”
So says Richard Sylla, Professor Emeritus of Economics and the Former Henry Kaufman Professor of the History of Financial Institutions and Markets at New York University’s Stern School of Business. He is also co-author of the book A History Of Interest Rates.
We invited Professor Sylla onto the podcast after hearing his work favorably referenced by the panel convened at the recent hearing held by the US Congress titled: “The Federal Reserve’s Impact on Main Street, Retirees and Savings.”
Based on his deep study across the scope of millennia of human history, Sylla warns we are at a dangerous moment in time.
Richard Sylla: This Is An Inherently Dangerous Moment In History
“The rates we’ve had in recent years, including right now, are the lowest in history. The book that I co-authored on the history of interest rates traces back to the code of Hammurabi, Babylonian civilization, Greek and Roman civilization, the Middle Ages, the Renaissance, and early modern history right up to the present. And I can assure our listeners that the rates that they’re experiencing right now are the lowest in human history.”
So says Richard Sylla, Professor Emeritus of Economics and the Former Henry Kaufman Professor of the History of Financial Institutions and Markets at New York University’s Stern School of Business. He is also co-author of the book A History Of Interest Rates.
We invited Professor Sylla onto the podcast after hearing his work favorably referenced by the panel convened at the recent hearing held by the US Congress titled: “The Federal Reserve’s Impact on Main Street, Retirees and Savings.”
Based on his deep study across the scope of millennia of human history, Sylla warns we are at a dangerous moment in time.
On June 28th 2017, the United States Congress held a hearing titled: “The Federal Reserve’s Impact on Main Street, Retirees and Savings.” If you haven't watched it yet, we highly recommend doing so.
Joining us for today's podcast is Alex J. Pollock, one of the experts who participated on that Congressional panel. In this discussion, he details out his assessments of the Fed's major transgressions against the interests of the general public. But perhaps more interestingly, he shares his observations from the hearing and how it struck him that many of the members of Congress that convened it appear to be growing increasingly concerned about the Fed's lack of accountability, as well as its potential fallibility.
Alex J. Pollock: Insights From The Recent Congressional Hearing On The Fed
On June 28th 2017, the United States Congress held a hearing titled: “The Federal Reserve’s Impact on Main Street, Retirees and Savings.” If you haven't watched it yet, we highly recommend doing so.
Joining us for today's podcast is Alex J. Pollock, one of the experts who participated on that Congressional panel. In this discussion, he details out his assessments of the Fed's major transgressions against the interests of the general public. But perhaps more interestingly, he shares his observations from the hearing and how it struck him that many of the members of Congress that convened it appear to be growing increasingly concerned about the Fed's lack of accountability, as well as its potential fallibility.
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