War on Cash: A “Wider Cultural Change Agenda”

 

A certain Michael Andrew is the former global director of accounting at KPMG. He’s also the present generalissimo of Australia’s Black Economy Taskforce.

The stated mission of this “taskforce” sets it among the angels — to combat terrorism, narcotics, tax dodging.

Cash is of course the coin of these evil realms. Continue reading

Greece’s Yanis Varoufakis prepares for economic siege as companies issue private currencies

Greek finance minister says the country has a six-month stock of oil and four months of pharmaceuticals

Greece has stockpiled enough reserves of fuel and pharmaceutical supplies to withstand a long siege, and has set aside emergency funding to cover all the country’s vitally-needed food imports.

Yanis Varoufakis, the Greek finance minister, said the left-Wing Syriza government is still working on the assumption that Europe’s creditor powers will return to the negotiating table if the Greek people don’t agree to their austerity demands in a referendum on Sunday, but it stands ready to fight unless it secures major debt relief.

“Luckily we have six months stocks of oil and four months stocks of pharmaceuticals,” he told The Telegraph.

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Bad News For World Economy That No One Wants To Hear

Reading the general run of financial headlines might lead one to believe that price declines in those commodities which are highly sensitive to economic conditions such as iron ore, copper, oil, natural gas, coal, and lumber are good on their face.

Obviously, the declines aren’t good for those who sell these commodities. But, those of us who buy these commodities in the form of cars, houses, utility bills and other products and services ought to be helping the world economy as we buy more stuff with the freed up income. Continue reading