It is becoming increasingly clear to us that the level of yields at which credit expansion in Europe and Japan will pick up in earnest is probably negative, and substantially so. Therefore, the ECB and BoJ should move more strongly toward penalizing savings via negative retail deposit rates or perhaps wealth taxes.In this time of extreme and despotic central bank policy, astute readers may note that gold buried in the backyard or held in Singapore safe deposit is immune to both negative interest rates and wealth taxes.
Douche Bank proposes wealth tax in wake of failed QE experiment
UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a...
Body Count goes to Vegas! Ernest Scherer III was a Vegas loser who fancied himself a professional poker player. Doesn't that photo t...
We've noted before that a bunch of economic trends turned bad when Nixon closed the gold window and we launched into the current pure f...