The king is dead, long live the queen.


https://translate.google.de/translat...istine-lagarde


Its clear, still it is frightening. By my savings today and the economic logic from 15 years ago, I should have been able to live of them for 30-35 years. Now I hope for 20 years at best, but I am not certain that some sudden coup landed by the amok-running politeska will not reduce my financial life expectancy to even just 15, maybe even just 10 years. Everything is possible with these criminals.
No wickedness too evil for it not to be done.

This month its 70 years of "Human Action", one of the most profound economic and social-philosophic writings ever.

https://www.fff.org/explore-freedom/...ing-relevance/

The financial and economic glovla situation would be much bettert today if instead of FEDs and ECBs we would have a more spread understanding of this basic work.

Freedom needs responsibility. Responsibility must mean liability, accountability. But the "politicisation" of the FIAT currency aimed at and has acchieved the decoupling of decision-making and liability. Intellectual supermen and wonderwomen claim they can centrally plan better what people want and do and decide and desire and what their preferences are and will be like in the future, than people know it themselves. And here is were the deep-rooting and fundamental relevance of "Human Action" lies. It turns the view of the homo economicus from its mentally deranged head back on its feet.

Extremely recommended reading. And frighteningly actual. For me, this classic is the best buddy of Hayek's "The Road to Serfdom".

Now credit cards must be registered online by a third party provider before the cna be used in onöline transactions. Arguments in how far this should raise security levls: none. I think it is about milking coins for nothing (by the third party provider who doe snto do this for free and gets paid by any side), and enforcing from cradit card holders that they compromsie their data for big data interests.


The safety of the credit card information pool by said third party provider: well, you can hope that it will be good weather tomorrow. Maybe it will be good, maybe not.That compares, and that is all you will ever get. The long history of massive data breaches in past years leave no argument to be optimistic. One thing is certain: this data pool will attract an awesome lot of cmrinal attention, and attention by intel services. In other words: the data will be stolen and/or abused. That is a 100% certainty.



https://translate.google.de/translat...eimlicher.html


Another argument for me why I do not want a credit card again and see the whole business as highly dubious and suspect. So much for a previously considered trip to Sweden next year...

If even Greece now gets away with issuing negative yielding debts, then this is a signal that somethign very serious is going terribly wrong.

Mind you, by definition, there can not be something like negative interests". By definition and meaning, interests always must and can only be positive, if they are not, then they are no interests at all, but fees, taxes, whatever you call it - but no interests.


https://www.zerohedge.com/markets/fi...-yielding-debt

Most of our banks here in Denmark have negative interest.
Those who have 750000 Danish Kroner or more, shall pay 0.75 % of what they have on their bank account.

Markus

This pest ^ is spreading everywhere. Its not just hilarious - in my book it is rightout criminal. As I said, the idea of negfativ eitnerest is a violation of the meaning of interest.

UniCredit, a Itlaian bank and mother auf BankAustria, raises penalty fees from 100.000 coins on from 2020 onb, they just said. Some banks in Germany already are there already as well, and consider 0.5% and more on money accounts even below 100,000.

At the same time, more and more people pay with plastic money and smartphones and want that cash money gets abandoned so that they are more vulnerable to getting ripped off themselves, and additionally getting charged directly or indirectly by credit card "service providers" who already slobber at the outlook of being able to dictate the charges in the near future. The Swedes even prohibit cash money by law. Lagarde considers Gsell's scalage money (Schwundgeld), and wants the prohibition of gold and other precious metals.

I wish them all broken necks, these mobsters and gangsters, robbers, fraudsters and plunderers. It shoud be clear by now that the "strategy" by th ECB which it ran in the past years, - DID NOT WORK and WILL NOT WORK to get economy lofted and boosted.

And I still wait for any of these inco,metent fools giving me an expalnaiton that can not be shreddered ion zero time of why an inflation rate is desirable and good for the eocnomy. I know the excuses they give, yaddayadda. Its just that they all are bull. There is no need for and no health in and there shall not be a desire for inflation at all. Thats just more Keynesian bull.

Its all crap. And due to the explanations given a gentleman and economist and mathematician from Ireland named Richard Cantillon already in the 18th century, we know why with this crap system the rich ever become richer and the poor ever poorer. The interventionist money system does not work as claimed by Keynesians. It works exactly to the opposite effect. And Cantillon's description of whjat now is known as the Cantillon effect is sitll valid and true. And the death sentence for all these quantitive easing madness ideas.

Why do we have madmen shooting at synagogues? Why are there no sane men shooting at the ECB and FED and central banks headquarters? Because we get told, trained, and educated all life long to be servile, obedient victims. Passive, harmless sacrificial lambs. People do not get indignant about this abuse, because they have been trained to mislearn to become indignant by themselves if not being told by politicians and ideological agitators and lobby groups that they should get indignant at something - the things this government or that special interest group want them to be idignant at, of course.

Being a defenseless sacrificial lamb is being declared the moral duty and proper ideal today. Altruism is the imperative erected by the collective. Own interests is the evidence that rewards the individual a sentence for being guilty and condemnable. Resisting populism like this is the death of your social life. Telling by experience. But I can asssure them that the antipathy is wholeheartly mutual.

While the Lil' Boy in Washington poses, and Europe dwarfens itself, the Russians secure themselves rights for the biggest oil ressources worldwide.



https://tass.com/economy/1083631


Venezuela owes Russia 17 billion.



https://www.reuters.com/article/us-r...-idUSKBN1WG3B3


Oh wait, we have an energy change to renewables in Europe, with the rest of the world standing in line to follow our precedent . The Russians will and must go rock bottom soon!!! :haha:

The price of US economy "growth", zero interests, and sense or nonsense of helicopter money.


https://www.financialsense.com/blog/...rns-louis-gave



https://translate.google.de/translat...elikoptergeld_


Supports my view that what they try to "fight the crisis" is nothing but spilling more fuel into the already out-of-control fire.

https://www.zerohedge.com/commoditie...fiat-one-chart


This meets the time window of Draghi leaving and Lagarde going into the ECB boss room. Lagarde during her time at the CF pressed studies and appers about prohibiting cahs money, engfocing penlty fees on the use of cash money, prohibiting private possession of gold... She is no econiomic expert, no fincial expert, but a career socialist andcareer politican only.


I am really worried since the day it was announced she would take over the ECB. Draghi was bad. She will become much worse. I fear a criminnal onslaught on private savings second to none before in history, for this woman is no only not competent in understandfing money, but also ruthless and unscrupolous. The germans were almost enthusiastic about Lagarde's call to the ECB. Only shows how little most German understand - nobody in Europe has to fear as much of her, than the Germans. She would already have massacred European savers if only at the ICF she could have had her will. As head of the ECB, it will be easier for her to get it, and she will have more support channels available, politically. Frightening.

Crowdfunded movie in the making, about one of the most outstanding thinkers, and social philosophers and economists of the last century.


http://www.misesthemovie.com/


https://www.youtube.com/watch?v=wwbS...ature=youtu.be


Usually referred to as just an economist, he in fact was much more, a social thinker and a real Universalgelehrter (polymath?). Something he had in common with another giant in this branch, Hayek. Mise' base work "Human Action" impacted in my thinking world like a nuclear bomb. Because that is what all economy grounds on and results in: human action - and its infinitely diverse motives.


I donated.

"Finally, for those curious if the authorities will stop at anything to destroy the currency and send rates to even more negative levels if it means kicking the can on a global, populist uprising, by just a few months, weeks or days, here is the answer: "We should be happier to have a job than to have our savings protected," said Lagarde."


This woman is more dangeorus - and as brainless - as a ton of nitroglycerin in free fall down to a rocky bottom. How she ever managed to successfully claim the reputation of being an econiomic expert and a financial authority, escapes me. She is just a politician and lawyer for social law, without formal professional training in these things: she is neither a trained econonomist, nor a banker or fiscal expert.



https://www.zerohedge.com/economics/...b-have-savings

Wiener Zeitung, 16.12.2019, writes:

>> Europe is a very special region: just a little more than 5 percent of the planet's people make up a good 25 percent of global economic output, but at the same time consume 50 percent of all social benefits in the world. In other words, Europeans spend twice as much on welfare spending as would equal their economic capacity. <<

We are on a crash course to a fully cashless society and once that happens you will not be able to withdraw coinage or notes from your own account in an attempt to protect yourself from things like negative interest rates.

Unfortunetly too negative interest rates are imposed on you as a last ditch effort to stimulate growth. Basically its an attempt to prod people into spending their hard earned savings rather than the thought of giving it to the bankers.

Not if but when this global economy crashes I think its gonna crash hard. Then its only a matter of time before people begin to assign value to something other than the current forms of compensation of which they currently have little or no control over.

Trade war effects, one writers opinion.

Quote:

Trade war stench hangs over Xi’s rallying cry

Everybody involved in stocks, papers and holding a bank account with money on it, should be aware of these arguments:

https://translate.google.de/translat..._11622575.html

The authors confirm some of my own long-held convictions: that especially ETFs are a bubble-maker, that stocks are hopelessly overvalued, that state bonds are toxic, and that the implict national debts are neck-breakers.

My guts feeling says: Not anotherf ull ten years again before the storm hits us in full. I even think: in five years at the latest. I hope I made the right choices and can limit my losses. Loosing we all will. Many of us will be ruined, many people will see their pensions and reserves for their days of age being demolished. Our own governments then will rip off their masks and show us that they always have been and especially then still are our worst enemies. And the Trumps and Macronmans and Merkels and Super-Uschis and Gangster-Lagardes will have no answers and will fall back to their last line of defence: brute force and state violence.

Fridays-for-Future kiddies will be surprised to learn that it will not be climate death destroying their lives, but their own economic incompetence and the collapse of what they claim to be unimportant: the health of the finance system and its depending economy.


Its frightening what is coming.