License to print money... BitCoin?
March 29th, 2015 at 1:08:10 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 | Unlike the Swedes, the Danish issued new banknotes in 2009-2011 time frame. Denmark is circulating 32.152 million Danish 1000kr banknotes = US$145 for a population of 5.6 million Sweden is circulating 6.16 million Swedish 1000kr banknotes = US$116 for a population of 9.6 million
If these currencies become closer tied to the yen instead of the Euro in valuation, the need for digital currency will probably become more pronounced. 1000 Chinese Yuan = 1124 Danish Krone . Perhaps there will come a day when the exchange rate is fixed at a easily converted rate (maybe even 1:1) and China will have a place to do their banking in Europe. Air China flies from Beijing to Athens, Barcelona, Budapest Düsseldorf, Frankfurt,Geneva, London-Heathrow, Milan-Malpensa, Moscow-Sheremetyevo, Munich, Paris-Charles de Gaulle, Rome-Fiumicino, Stockholm-Arlanda, and Vienna, but not to Copenhagen. |
March 29th, 2015 at 10:49:45 PM permalink | |
petroglyph Member since: Aug 3, 2014 Threads: 25 Posts: 6227 | Taxing deposits is getting ever more popular it seems. http://www.abc.net.au/news/2015-03-28/federal-government-set-to-introduce-tax-on-bank-deposits/6355662 If the governments with central banks can just print money, why tax people at all? The last official act of any government is to loot the treasury. GW |
March 29th, 2015 at 11:07:53 PM permalink | |
Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831 | Swiss banks used to "tax" savings by deducting interest on deposits. Twenty years ago there was some article on a Chinese family that selected a piano as their store of value even though no one played any sort of musical instrument in the family. I wonder if Time magazine will ever do a follow up on them. I swear those Anarchists in the Caribbean may have the right idea. They swim, snorkel, sail, fish, hike, drink beer, soak up sunshine, and figure they eat better and live better than they would working at a Convenience Store. Most of the islands they visit have no port fees or taxes and if they repair some restaurant's electrical wiring, they can eat free for a month. They don't have much money on deposit in banks, but in Guatemala sixty cents will get you really big dinner. |
March 30th, 2015 at 12:55:46 AM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
According to Forbes 400 (Sep 29, 2014) The aggregate net worth of the richest 34 Americans was $1.00 trillion. Of the top 10, 4 are named Walton, and 2 are named Koch. The printed US currency is only worth $1.3 trillion. One assumes that the store of value for most people is real estate, but that value is really dependent on interest rates. |
March 30th, 2015 at 11:15:56 AM permalink | |
petroglyph Member since: Aug 3, 2014 Threads: 25 Posts: 6227 | In one way Bitcoin is a good idea, but in another it vulnerable from any hacker in the world let alone the US .gov. http://www.justice.gov/opa/pr/former-federal-agents-charged-bitcoin-money-laundering-and-wire-fraud The last official act of any government is to loot the treasury. GW |
March 30th, 2015 at 2:50:44 PM permalink | |
Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831 | Its hard enough for bank tellers who need ten dollars to get them to payday to keep their hands off some C-notes, but its also hard for DEA types who deal in suitcases full of currency to keep from getting some currency packets squirreled away somewhere. |
March 30th, 2015 at 7:55:02 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 | Swedish Banks Make Money by Saying No to Cash (April 11, 2013) Sweden’s banks don’t only stand out for their aversion to paper money. The nation’s financial industry has performed better than banks across most of Europe since the debt crisis hit more than three years ago. Shares in Nordea have soared 22 percent this year, trouncing a 3.5 percent gain in the 40-member Bloomberg Index of European financial companies. Swedbank is up 19 percent and SEB has gained 24 percent. Possibly the insurance premiums go down, because it is not just outside robberies that they are worried about. In the USA, according to the handbook for the Federal Financial Institution Examination Council, banks are required to file a Suspicious Activity Report with respect to: “Transactions conducted or attempted by, at, or through the bank (or an affiliate) and aggregating $5,000 or more…” |
April 1st, 2015 at 12:13:32 PM permalink | |
petroglyph Member since: Aug 3, 2014 Threads: 25 Posts: 6227 |
http://www.reuters.com/article/2015/04/01/us-asia-aiib-israel-idUSKBN0MS46J20150401 I wonder if the country's that swing over to the yuan to settle trade will get their foreign aid from the US reduced? The last official act of any government is to loot the treasury. GW |
April 3rd, 2015 at 11:46:23 AM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
It looks like only Japan is not joining the (AIIB) . Country Date of approval New Zealand 5 January 2015 Luxembourg 27 March 2015 Switzerland 28 March 2015 United Kingdom 28 March 2015 Germany 1 April 2015 France 2 April 2015 Italy 2 April 2015 Country/Region Date of application Australia 29 March 2015 Austria 27 March 2015 Denmark 28 March 2015 Finland 30 March 2015 Hungary 31 March 2015 Iceland 31 March 2015 Israel 31 March 2015 Netherlands 28 March 2015 Norway 31 March 2015 Poland 31 March 2015 Portugal 31 March 2015 Russia 30 March 2015 Spain 27 March 2015 Sweden 31 March 2015 Turkey 26 March 2015 South Korea 26 March 2015 Hong Kong December 2014 Chinese Taipei 31 March 2015 |
April 3rd, 2015 at 2:57:27 PM permalink | |
petroglyph Member since: Aug 3, 2014 Threads: 25 Posts: 6227 | http://www.nytimes.com/2015/04/03/world/asia/china-asian-infrastructure-investment-bank.html The US is the lone super power in name only following the same pattern as other fallen reserve currency country's throughout history. http://www.zerohedge.com/news/2015-04-03/no-country-young-workers-only-americans-55-and-older-found-jobs-march: Michael Hudson said "debts that can't be paid for, won't be", the only demographic with increasing employment is 55 and over. At the time when they should be retiring, they can't make any income on interest on their life savings which until 20 years ago was a cornerstone of retirement income. The US gov. has printed to infininity. As you said Japan is the last major economy to support the $, and I think that is because they hold as much treasury's as China. If they don't support the value of the $ then their holdings plummet in value. China is buying anything of intrinsic value with the 3 trillion of US debt they hold. With the continuing trend, of inflation or devalued currency [interchangeable imo], and the largest demographic in history trying to retire, it doesn't look good for American workers. With everybody swapping to either the yuan [rmb] or the SDR to settle trade, America's inherent advantage of being able to print to pay all her debts is becoming ever less popular, a solution would be quite a feat indeed. Behind closed doors, America is trading tons of infrastructure for debt as we type. One more: http://www.monticello.org/site/jefferson/private-banks-quotation Attributed to Jefferson Quotation: "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies" It amazes me what the founding fathers knew, and we have forgot. The last official act of any government is to loot the treasury. GW |