Banking

The problems today are monumental and systemic. We all need to understand this concept called ‘money’, this concept called ‘value’ and this concept called ‘debt’. Then we need to understand the difference between that which EXIST’s and that which does not EXIST.

Bron Suchecki, in an interview with Gregor Gregerson, discusses: •gold confiscation (like when FDR issued Executive Order 6102 in 1933), •how likely it is to happen again and •the possible impact of the occurrence of a gold confiscation event on different assets: bullion, jewelry, mining stocks and numismatics.

Pundits are advising to pay-off Puerto Rican debt with ‘digits’ (created out-of-nothing), create a Universal Basic Income for everyone via more QE digits, and essentially flood the planet with computer digits (so everyone is wealthy and prosperous mentally). Is this economics or is this mere fantasy and corruption at the highest level?

Pensions are run like Ponzi schemes; as long as the cash coming in to the fund is equal to or exceeds beneficiary payouts, the scheme can continue but it’s a catastrophe when economic conditions deteriorate and tax revenue flattens or declines, as is occurring now. When the stock market inevitably cracks, it will wipe pensions out.

If you're at all interested in money, you probably know that there are a bunch of U. S. notes and coins that nobody uses anymore. The whys and wherefores of this "forgotten" money makes for an interesting history.

The Wall Street Journal writes that "many US states have been slow to improve their finances nine years into the economic expansion raising a risk they won't be prepared when another downturn hits, making them susceptible to big spending cuts that make the next recession worse".

People should be careful when applying the word “fiat” to currency/money. The word is routinely used to mean irredeemable or non-physical, but that’s not what it actually means.

The U.S. and Canadian banking systems are similar to some degree, but also uniquely different. Today's graphic compares the two countries' banking histories, market shares, number of banks, investment outlook, leverage, and many other factors.

Today’s infographic from BestAccountingSchools provides an introductory guide to cryptocurrencies, and it highlights the history, important terms, and statistics about the crypto space. It also profiles some of the pioneers that made it all happen.

That central banks have saved us from a financial crisis is a myth. Central banks have caused our financial crises, not saved us from them. Central banks don’t serve people, or even societies. They serve banks.