Turkey, ‘Axis of Gold’ and the End of US Dollar Hegemony

 

Introduction

With a ‘Hard Brexit’ looking more likely and Trump’s inauguration this week, 2017 is well and truly under way.

What we expect the year to hold is probably not even half of what it really will. But from what we know, the upcoming French and German elections, referendums, geopolitical crises, steps towards reverse globalisation and a third of global government debt yielding negative interest rates, governments are already prompting central banks and investors to turn to the one asset that has survived millennia of financial and monetary crises.

One that is highly liquid and convertible into other currencies – gold. Continue reading

Trump Takes On The Deep State

This is an article that merits a lot of attention. It explains what Donald Trump is really up against: A renegade “Deep State” that does what it wants, regardless of who is President, and can outlast many presidencies.

For archiving purposes, the article will remain in full here.

 

The tweet heard ’round the intelligence world.

 

 

  • Donald Trump engages in war of words with outgoing CIA head
  • Trump policies on trade, foreign policy depart from longstanding norms
  • Past events point to policymaking powers beyond elected officials
  • Russian relations a major sticking point between Trump, much of gov’t
  • Aggressive stance towards China could result in enormous market volatility

Last Sunday, US president-elect Donald Trump launched one of his now-trademark series of broadsides against the CIA, claiming that the latest series of leaks concerning his alleged misuse of a Moscow hotel suite previously occupied by president Barack Obama was a “complete fraud”.

Trump then compared the US intelligence regime to Nazi Germany in a tweet that called the leak, which alleged various colourful activities involving prostitutes, “fake news […] one last shot at me”. Continue reading

Dollar to hit parity with euro in 2017

 

The dollar is likely to hit parity with the euro during 2017 driven by diverging paths for interest rates, according to Goldman Sachs’ chief economist.

The Federal Reserve is likely to hike interest rates three times in 2017, pushing it even further from the rate positioning stance of Europe during the course of the year, Jan Hatzius told CNBC at the Goldman Sachs Strategy Conference in London on Monday. Continue reading

Greece Unleashes ‘Soft’ Cash Ban

The spread of global cash bans continues with Greece unveiling their so-called ‘soft’ approach by which taxpayers will only be granted tax-allowances or deductions when payments are made via credit or debit cards. As KeepTalkingGreeece reports, the new guidelines refer to employees, pensioners, farmers, and also the unemployed. Continue reading

India is the Guinea Pig for Electronic Money

As an observation, a lot of news pieces keep mentioning 2018 of late as a turning point for cash and a move towards either a new global currency or electronic currency. It’s a reminder of what The Economist put out in 1988:

 

 

QUESTION: Dear Marty,

What could be the true intentions of Prime Minister Narendra Damodardas Modi in India cancelling the currency overnight. I have been suspecting some foul in his demonetisation move but cannot correctly understand why he did it? Counterfeit currency, Black money, prevent terrorism all his publicised motives have been shown false. If this move is any kind of scandal and he has tarnished India image in long run or short run. Almost 90% analysts in India are saying it is a good move in the long run ( 2-3 years) and pain in short term. Is this correct? Continue reading

Scandinavia – Leader in the War on Cash

The real gem of this article is the last paragraph and its related photo posted below. Espionage, aiding and abetting the enemy by enemies within runs deep in America and has for decades.

money-plane-new-york-magazine-january-22nd-1996

The Scandinavian countries Sweden, Denmark and Norway are regarded as a pioneer in the the effort to eliminate money and move totally electronic. Denmark closed its final Mint outsourced the operation to Finland. This means that there is no coinage in the three states struck anymore. In this war on cash, about 20% of all transactions were settled in Denmark last year with cash. In Germany and Austria, cash transactions accounted for 80%. Scandinavia is pushing hard to eliminate all cash completely to enable 100% efficient tax collecting. Continue reading

War On Cash Escalates: Australia Proposes Ban on $100 Bill; No Cash Within 10 Years?

https://mishgea.files.wordpress.com/2016/12/au-100-note.png?w=525&h=317

 

Global financial repression has picked up steam. Australian citizens are likely the next victim.

AU News reports Government Floats $100 Note Removal.

SAY goodbye to the $100 note.

Australia looks set to follow in the footsteps of Venezuela and India by abolishing the country’s highest-denomination banknote in a bid to crack down on the “black economy”.

Speaking to ABC radio on Wednesday, Revenue and Financial Services Minister Kelly O’Dwyer flagged a review of the $100 note and cash payments over certain limits as the government looks to recoup billions in unpaid tax. Continue reading

Money Under Fire

 

A reminder of the great wealth transfer underway

Today we welcome a cohort of new readers visiting PeakProsperity.com for the first time. This article is to give them our best grounding in the massive wealth transfer underway.

Our hope is that our longtime readers will likely benefit from a revisitation of the fundamentals, as well.

One serious predicament we face is that the current leaders in the halls of monetary and political power do not appear to understand the dimensions of our situation. The mind-boggling part about it is that the situation is easy to understand.

Our collective predicament is simply this: Nothing can grow forever. Continue reading

Venezuela Orders Largest Bills Turned in Ahead of New Bank Notes

Take cash away from the citizens and, in theory, they can’t make a run on the banks and spark a full economic collapse.

Take cash away from the citizens and they can’t have full economic control over their own lives.

 

  • Maduro says move to fight smuggling, currency attacks
  • 100-bolivar bills must be out of circulation in 72 hours

Venezuela’s government ordered all 100-bolivar bank notes out of circulation within 72 hours, amid a hard cash shortage and the scheduled release this week of bigger bank notes. Continue reading

Euro Crisis and Contagion Coming In 2017

A euro crisis and contagion is almost certain in 2017, Irish economist and writer David McWilliams has warned:

“It is almost certain that there will be another euro crisis in 2017. The last time we had a euro crisis, the focus of attention was Greece; today the vortex is Italy.

Italy is not Greece. Italy is the third-largest economy in the Eurozone. Italy is the second-largest manufacturing nation in the EU after Germany. Italy is the largest debtor in Europe. Continue reading

India’s Gold Confiscation & Turkey’s War on Currency

QUESTION: Marty; You have been emphasizing not to buy gold bullion but US gold coins such as the $20. You have said that the last time they confiscated gold coin collections were exempt. With the drastic action in India, and the war on currency in Turkey, is this why you have said stocks and collectibles are a safer bet? Continue reading

The Next Domino Falls As Predicted… Here’s What Comes Next

 

I recently spent several weeks in Italy, taking the pulse of the country. The Italian referendum on December 4 turned out exactly how I predicted it would.

The “No” vote won in a landslide, with 59% of the vote versus 41% for “Yes,” with a 70% turnout.

The pro-EU Prime Minister promptly announced his resignation after the crushing defeat.

A surging populist party waits in the wings. They’re now likely a matter of months away from taking power and then holding a new referendum on whether Italy should dump the euro and go back to the lira.

If that happens, Italians will likely vote to leave. Continue reading

Trump’s Taiwan call seen pre-empting Chinese provocation early in his administration

Vice President-elect Mike Pence dismissed criticism of President-elect Donald Trump for the call to the Taiwan president as ‘mystifying.’

 

Did Donald Trump beat China to the punch?

The President-elect’s interaction with Taiwan’s president was seen by some observers as a pre-emptive hit on Beijing, which some analysts suggested was intent on delivering a testing Trump early in his administration. Continue reading

A Time Bomb

ROME/BERLIN (Own report) – Following Italian Prime Minster Matteo Renzi’s defeat in Sunday’s referendum, Berlin is urging Rome to quickly form a “capable government” and resume its adjustment to the German model of austerity. “The economic problems have to be tackled at the roots,” said Jens Weidmann, head of Germany’s central bank, yesterday. German financial experts are floating the idea of a cabinet of technocrats, modeled on the Mario Monti government. Monti ruled for a year and a half beginning in November 2011, without having been democratically elected and initiated an austerity program considered extremely harsh. Time is pressing: the bank crisis, caused, to a large extent, by bankruptcies due to German austerity dictates, which has been festering in Italy for a long time, is threatening to escalate. The Monte dei Paschi di Siena tradition bank’s recapitalization planned this week is acutely endangered. It cannot be ruled out that its bank crisis could soon spread to other Italian credit institutions and to German banks. Continue reading

All Roads Lead to the Dollar

 

COMMENT: Marty; I have attended every conference since 2011. You have really opened my eyes and you have to be blind to not see that you have called everything trend from the decline in gold, rally in the Dow, collapse of Europe, the rise in the dollar, and the uptick in war/civil unrest not to mention your political forecasting. You should be hailed from every podium and the reason you are not is obvious. The conclusions you force upon the rest to see is against their own self-interest. All roads lead only to the dollar as you have said. Continue reading