Category: Fiat Currency
The analysis published under this category are as follows.
Saturday, October 26, 2013
Time Out For The PetroDollar Conspiracy / Politics / Fiat Currency
By: Andrew_McKillop
FIRST YOU HAVE TO BELIEVE
I have plenty of articles published on this subject, and I break up the 40-odd years of “the petrodollar system” into at least 3 clear main phases. More important, the present one is the last one. For a valedictory and uncertain, but official argument for the present phase, the US Federal Reserve Bank of NY has a full statement http://www.newyorkfed.org/research/current_issues/ci12-9/ci12-9.html.
Friday, October 18, 2013
The Biggest Scam In The History Of Mankind - Hidden Secrets of Money Video / Currencies / Fiat Currency
By: GoldSilver
You are about to learn one of the biggest secrets in the history of the world... it's a secret that has huge effects for everyone who lives on this planet. Most people can feel deep down that something isn't quite right with the world economy, but few know what it is.
Gone are the days where a family can survive on just one paycheck... every day it seems that things are more and more out of control, yet only one in a million understand why. You are about to discover the system that is ultimately responsible for most of the inequality in our world today.
Saturday, October 12, 2013
Preparing for The Big One - U.S. Dollar Revolt / Stock-Markets / Fiat Currency
By: DeepCaster_LLC
”Federal Reserve Chairman Ben S. Bernanke has been tap dancing on a land mine since 2008. He has avoided detonating an intensified banking-system crisis, so far, but the cost has been that of locking the Fed into near-perpetual quantitative easing and monetization of U.S. Treasury debt, with horrendous implications for future domestic inflation and U.S. dollar debasement…. the Fed has locked itself into quantitative easing for some time to come, irrespective of any jawboning to the contrary….
Wednesday, October 09, 2013
Fiat Paper Currencies are NOT Gold! / Currencies / Fiat Currency
By: DeviantInvestor
Paper currencies seem normal. They seem natural. We are told they are necessary. Paper currencies with no intrinsic value are used everywhere - we pretend they are valuable. If we don't look closely, or remember the world of 60 years ago, they seem like a good idea.
Monopoly money. Euros. Dollars. What is the essential difference? Paper, with no intrinsic value, is accepted only because we have confidence in the issuer of the currency and/or because we have no other choice. Monopoly money can buy hotels on Park Place. Unbacked paper dollars can buy hotels in Manhattan. The hundreds of unbacked paper currencies that have become worthless during the last century can buy NOTHING.
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Friday, October 04, 2013
Syrian Pound Soars, Iran’s Single Digit Inflation, and Other Troubled Currencies / Currencies / Fiat Currency
By: Steve_H_Hanke
Syria: On September 27th, the United Nations Security Council unanimously adopted a resolution outlining the details of the turn over and dismantlement of Syria’s chemical weapons. Syria’s president, Bashar al-Assad, has stated that his government will abide by last week’s UN resolution calling for the country’s chemical weapons to be destroyed.
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Tuesday, September 10, 2013
Cheap Money Means Nothing is safe – Not student loans, Emerging markets, or London flats... / Stock-Markets / Fiat Currency
By: Adrian_Ash
Did you enjoy your monthly dose of non-farms nonsense last Friday?
Gold and silver both erased Thursday's drop when the latest US jobs figures were released. Set your gold or silver chart to one-week (1w) to see the silliness.
But were August's non-farm payrolls really so meaningless? Cutting the jobless rate is one-half of the US Federal Reserve's mandate (the other is beating inflation - or whisking it, perhaps, after folding in egg whites). And whatever he does (or doesn't do) to quantitative easing at next week's much-awaited policy meeting, Fed chairman Bernanke has made a 7.0% jobless rate a key condition for any talk of raising Dollar interest rates from zero.
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Thursday, September 05, 2013
US Dollar As Money, Myths, Lies, Deceptions and Millstones / Currencies / Fiat Currency
By: Jim_Willie_CB
Many are the myths held so firm by the public. Many are the lies told so boldly by the leaders. Many are the millstones around the neck of the system that is fast losing its momentum. Many are the frauds committed routinely in full view. The entire US system is unraveling, myths exposed, lies contradicted, while the millstones weigh down the financial and economic system. The absent Gold Standard, the invalidity of money, the insolvency of banks, the toxic nature of sovereign debt, the illegitimate money, the intrusive debilitating central bank franchise system, these are grand millstones around the neck of the Western system. The current monetary policy is killing capital, a fact not observed by 5% of working economists, the harlots working closely to policy making. The nation is hurtling quickly toward systemic failure in every conceivable frame of light. A quick review should be revealing of myths, lies, deceptions, and millstones.
Thursday, August 29, 2013
Syria, Iran, and Egypt - Troubled Currencies Project Update / Currencies / Fiat Currency
By: Steve_H_Hanke
Syria: Since August 26, when U.S. Secretary of State John Kerry began laying the groundwork for military intervention in Syria, the Syrian pound (SYP) has taken a beating on the black market. Indeed, the SYP has lost 24.07 percent of its value against the U.S. dollar (USD) in the two days since Kerry’s announcement. Currently, the exchange rate sits at 270 SYP/USD, yielding an implied annual inflation rate of 291.88 percent. In countries with troubled currencies, there is no better measure of economic expectations than the black-market exchange rate. The recent deterioration in the SYP/USD exchange rate clearly indicates that Syrians are anticipating Western military intervention in the near term.
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Thursday, August 22, 2013
To Make Sense of the Coins Act, Follow the Money / Politics / Fiat Currency
By: Steve_H_Hanke
The American people might be surprised to learn that for the past 20 years a handful of lobbyists and lawmakersmostly from states with mining and metal-processing interestshave been pushing a proposal to take away dollar bills, and force the public to use metal coins instead.
Wednesday, August 07, 2013
Competing Currencies in Somalia / Currencies / Fiat Currency
By: MISES
The Great Debate
For years a debate has raged in monetary economics over the credibility of the theory that a more stable monetary system would emerge were the system to allow for concurrent currencies operating under no legal restrictions.
One side of the debate, represented most prominently by Milton Friedman, believes that the emergence and acceptance of a new currency would be hindered — and its ability to supplant an incumbent currency all but eliminated — by network effects and/or switching costs.
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Tuesday, August 06, 2013
What’s Next for the U.S. Dollar and Currencies? / Currencies / Fiat Currency
By: Axel_Merk
In the short to medium term, the U.S. dollar and currencies are heavily influenced by what the Fed may be up to next. As the Federal Reserve (Fed) may be reading tealeaves as much as anyone else, we may be facing particularly high policy uncertainty that, in turn, reflects on elevated volatility in the bond and currency markets. The good news is that this may yield opportunities for the prudent investor.
Tuesday, August 06, 2013
What Is Syria’s Iranian Credit Line Worth? / Currencies / Fiat Currency
By: Steve_H_Hanke
Last week, the press was filled with reportage about Tehran throwing a lifeline – actually a credit line of $3.6 billion – to the Syrian regime.
The announcement of this Iranian lifeline should have changed the economic expectations of Syrians in the throes of what has morphed into a bloody civil war. Indeed, if it materializes, the $3.6 billion credit line should allow Damascus to conserve its dwindling supply of foreign exchange. This development should have thrown a positive expectation shock into the market for the Syrian pound.
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Friday, July 26, 2013
Egypt’s Vanishing Currency Black Markets / Currencies / Fiat Currency
By: Steve_H_Hanke
Despite escalating tensions between Egypt’s new military-backed government and supporters of ousted president Mohammed Morsi, there is at least one positive development coming out of the Land of the Nile. Yes, at long last, some semblance of stability appears to be returning to Egypt’s economy.
Wednesday, July 24, 2013
The World's Troubled Currencies / Currencies / Fiat Currency
By: Steve_H_Hanke
For academics, the term "troubled currency" might be a term of art. But for people who are faced with such a currency, they know a troubled currency when they see one. Today, this is the case for millions of people around the world — most notably in Iran, North Korea, Argentina, Venezuela, Egypt and Syria.
A troubled currency is one in which users have lost confidence. When users no longer think a currency will retain its purchasing power, they attempt to dump it for a stable foreign currency (or commodities). As the demand for the troubled currency evaporates, its value vis-á-vis stable foreign currencies collapses, and prices for goods and services sold in the troubled currency soar. As this process develops, expectations about the currency’s ability to retain its purchasing power deteriorate, and a doom loop ensues. At the extreme, doom loops can culminate in hyperinflation — an inflation rate of over 50% per month. This, however, is rare. Indeed, there have only been 56 cases of hyperinflation.
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Wednesday, July 10, 2013
Value of the Syrian Pound Hits an All-Time Low / Currencies / Fiat Currency
By: Steve_H_Hanke
ime has imposed harsh penalties for currency trading on the black-market. This strategy proved wildly unsuccessful when it was utilized by the Iran in October of 2012.
Indeed, as was the case in Iran, attempts to suppress currency exchange have sparked a panic – a run on the Syrian pound. As of 10 July 2013, the value of the Syrian pound on the black market has hit an all time low, with the current black-market exchange rate now sitting at 295.00 SYP/USD.
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Wednesday, July 10, 2013
Do We Need A New Single World Reserve Currency? / Currencies / Fiat Currency
By: Andrew_McKillop
GOLD, CO2 AND THE DREAM OF NEW WORLD CURRENCIES
Gold bugs might think that so-called Currency Wars – a chaotic attempt at competitive devaluation of all major present currencies and the unpublicised main reason for Quantitative Easing – means that gold's supposed 'natural role' as a strong, solid and reliable money standard can only be bolstered by the rush to devalue. However, as we know, gold itself has suffered massive coordinated attacks this year. Recent gold price falls have been so violent – while QE money printing remains so extreme – making it likely the time-hallowed central bankers' action to talk down gold prices, to bolster their fiat paper moneys, is running at a flat out pace. At the same time however, competitive devaluation by the bankers of their fiat paper moneys is also running flat out!
Friday, May 10, 2013
Dollarize Argentina Now / Currencies / Fiat Currency
By: Steve_H_Hanke
Argentina is once again wrestling with its long-time enemy, inflation. Now, it appears history may soon repeat itself, as Argentina teeters on the verge of another currency crisis.
As of Tuesday morning, the black-market exchange rate for Argentine pesos (ARS) to the U.S. dollas (USD) hit 9.87, meaning the peso’s value now sits 47.3% below the official exchange rate. This yields an implied annual inflation rate of 98.3%.
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Wednesday, May 08, 2013
Currency Wars Winners and Losers / Currencies / Fiat Currency
By: Axel_Merk
Who is winning the “currency wars”? Our take on the greenback, yen, sterling, euro and gold:
Wednesday, April 24, 2013
Jim Rogers On Central Bankers Currency Debasement "Race to Insanity" / Currencies / Fiat Currency
By: Money_Morning
William Patalon writes: If you are invested in the lofty stock markets of the United States or Japan, legendary investor Jim Rogers has a message for you ...
Euphoric gains always lead to hangover pains - it's just a matter of when.
"This is artificial, as I've [repeatedly] said," Rogers told Money Morning during an exclusive interview Sunday night. "This is the first time in recorded history where nearly all the central banks in all countries are pumping out lots of money, debasing their currencies, printing money. I've never seen this in history, and now we've got everybody - or nearly everybody - doing it."
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Sunday, April 21, 2013
Classic Cars the Fun Antidote to Money Printing? / Currencies / Fiat Currency
By: Submissions
Malcolm Frost writes: It was Winston Churchill who famously reminded us, “destiny calls and we must obey”. Well, at the very least, us lesser mortals must comment. So fingers and keyboard come together to put electronic pen to screen on an issue of great potential importance to all car lovers: “motoring during monetisation”. So what exactly do we mean by “monetisation”? Well, to put things more crudely, we are referring to sneaky debt-default by governments various. By now we should all know the form. Politicians of every hue have run up levels of debt that can never be repaid (or can they?). Similarly, consumers are literally awash with red ink having paid ridiculous multiples of income for housing and having indulged in probably the biggest orgy of consumption in history.
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