In a cashless world, you’d better pray the power never goes out

In a cashless world, you’d better pray the power never goes out

By Ryan McMaken / Mises Wire When Hurricane Maria knocked out power in Puerto Rico, residents there realized they were going to need physical cash — and a lot of it. Bloomberg reported that the Fed was forced to fly a planeload of cash to the Island to help avert disaster: William Dudley, the New York Fed president, put […]

Can Switzerland survive today’s assault on cash and sound money?

Can Switzerland survive today’s assault on cash and sound money?

By Marcia Christoff-Kurapovna / Mises Wire “Switzerland will have the last word,” wrote Victor Hugo in the late 19th century. “It possesses one of the most perfect forms of government in the world.” A contemporary of his, Frederick Kuenzli, a scholar of the Swiss Army, boasted: “No purer type of Republican ideals, no more fixed and devoted […]

Citibank to stop accepting cash at some branches

Citibank to stop accepting cash at some branches

‘From Technocracy News Technocracy must drive cash out of the hands of people, forcing them into the digital matrix from which there is no escape. This movement is world-wide and involves all central banks and major commercial banks. ⁃ TN Editor Less than a week after India’s surprise move to scrap its highest denomination cash notes, […]

Paper currency being phased out throughout the world

Paper currency being phased out throughout the world

By Sam Rolley / Personal Liberty Digest In some places throughout the world, paying with cash is becoming virtually impossible. And though many people in the U.S. are fighting to hold on to cash as a viable payment option, mobile and electronic alternatives are quickly becoming the norm here as well. A BBC report on […]

Forget QE through banks, the ECB now wants to directly hand out cash

Forget QE through banks, the ECB now wants to directly hand out cash

From The Daily Bell The lords of finance are losing their touch.  Institutions which dragged the world from its worst depression since the early 20th century are finally seeing their magic desert them, if conventional wisdom is to be believed.  –UK Telegraph We have read a deluge of mainstream media articles about central banking problems […]

Bill Tatro: The difficulty of embracing cash

Bill Tatro: The difficulty of embracing cash

By Bill Tatro How many times has a Financial Adviser sat down with a client to develop a retirement plan and said “Of course, we’ll want to factor in the deflationary aspect of the Central Bank Zero Rate Policy”. How many times? More than likely, none. Since the ‘70’s most advisers were trained to assume […]

Where’s all the (fake) money?

Where’s all the (fake) money?

By Philippe Gastonne / The Daily Bell Is cash still king? Based on data from the Federal Reserve Board, you might think so. The Fed routinely tracks M1, which covers cash plus checking deposits. In March, the cash component of M1 had a face value of $1.3 trillion, a record high. About $1 trillion of […]