PayPal Pulls Out of Puerto Rico. PayPal to end payment service for monies coming from Puerto Rico on October 30. Two percent tax levied by the Puerto Rican Legislature prompted the move. Paypal announced to its U.S. customers via email today that it is ending its Puerto Rican service. The message read in part: “Person … Read More →
The Dark Side of a Cashless Society. Think going cashless is just about convenience? Here are some downsides of going cashless to make you think again. Part Two of Welcome to the Cashless Society presents the dark side. Welcome to the Cashless Society. Part 2 In Part I of “Welcome To the Cashless Society – … Read More →
China Devalues its Currency China’s devaluation puts the U.S. Federal Reserve in a bind. Devalued Yuan is Dollar Negative Long Term. A devalued Yuan should create more demand for Chinese products and use of the Yuan as an international transactional currency. Should the U.S. follow China’s lead and devalue the dollar? or should the Fed … Read More →
Cash and Freedom Under Attack. The Cashless Society Is A Central Planner’s Dream – Freedom’s Nightmare. The world is heading towards a cashless society. A cashless society has the danger of becoming a priceless one. A priceless society is one where private property ownership is compromised, individual choice, privacy and freedom are eliminated. Welcome to … Read More →
There is No Greek Deal. This week’s podcast reviews the supposed “aGreekment” gold and silver prices and Janet Yellen’s Congressional testimony. Introduction 0:00-3:10 There is No “AGreekment” 3:10 discussion of the terms of the recent deal to avert a Greek exit from the Euro. There is no Greek deal only media events surrounding negotiations- just … Read More →
Loss of Trust in Markets. This week’s podcast reviews the market distortions on display across the globe. Introduction 0:00-11:10 The general public and Wall Street believe that there is a recovery and the economy is doing well. Recently, however, some obvious signs of cracks in the story have emerged. Greece Events in Greece make it … Read More →
Podcast Summary 0:00-7:21 Introduction Consumer Confidence Conditioning 7:21-13:13 the recent high reading of the Michigan consumer confidence survey is discussed in the context of the media’s insistence that the economy is improving. The Gallop consumer survey, however, is down. Consumer confidence is not a good barometer for predicting future economic activity. Consumer confidence and other … Read More →
Markets can remain manipulated longer than you can remain solvent In this week’s podcast: Podcast Summary 0:00-3:28 Introduction So What if the Fed Raises Rates? 3:28-6:20 discussion of Janet Yellen’s comments about raising rates after the Fed’s June Federal Open Market Committee (FOMC) meeting. Ms. Yellen noted that a rate hike is no big deal … Read More →
A Warning to San Francisco and Silicon Valley. In this week’s podcast: San Francisco and Silicon Valley companies without profits and high valuations will crash, bringing their real estate markets and economies down with them. The Fed will strongly signal interest rate hikes claiming the economy is strengthening. The underlying reason for interest rate hikes … Read More →
The Fed Will Raise Interest Rates The Fed will raise interest rates on the pretext/false narrative that the economy is doing well. If data continues to come in negative the Fed will insist it is transitory and the economy will improve in the second half. Higher interest rates are necessary to promote U.S. Treasury Bond … Read More →
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