The archive is catalogued by 'Economics', 'Politics', 'Mockingbird', 'And in other news' and 'Thoughts on other things' 


"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world" - Henry Kissinger

and yet...

"Sooner or later everyone sits down to a banquet of consequences" – Robert Louis Stevenson

War on cash Vol 8 - Mario Draghi

In response to an FT article by Jim Brunsden and James Shotter on 15th February 2016, entitled "Criminals 'currency of choice' for chop"

"Mario Draghi gave his clearest indication yet that the note was on borrowed time, saying there was an “increasing conviction in world public opinion” that such notes were used for criminal purposes"

Mario Draghi wouldn't know ‘world public opinion’ if it pushed a custard pie in his face, which, come to think of it, is probably a more accurate description of world public opinion.

This is part of the war on cash being waged by insolvent governments, and is not motivated by terrorism, drug money or any other such nefarious activity - all of which has been going on for decades without any mention of large bank notes; all of which will continue after the abolition of large banknotes.

Negative interest rates, AKA governmental wealth confiscation, has far more chance of success if people cannot elect to take their cash out of banks to avoid being taxed on money they do not wish to spend yet. That is what this is about. The ‘big note’ is the thin end of the wedge. We can expect to hear a constant drip drip drip of this garbage, as many readers of the FT have pointed out each time it is printed.

War on cash Vol 9 - Larry Summers

Martin Wolf still thinks a referendum is unnecessary