The Irish crash of 2008 was not a surprise to anyone with their wits about them and a passing knowledge of economic history. The great delusion propagated, which continues to be propagated, was that the housing/property/banking/credit collapse was in some way unexpected.
Once the banking system ran out of Irish deposits and began to borrow abroad to finance the property mania at home, the collapse of the debt-fuelled economy was not a matter of if, but when. The banking crisis didn’t start with the bank run of 2008 but with the over-lending in the early-to-mid 2000s.
Banks go bad from the inside out and the easiest way to rob a bank is to run one. The collapse was predictable, preventable and “Made in Ireland”.
The crash itself didn’t destroy Irish wealth but merely evidenced the extent to which wealth had already been destroyed by stupid decisions taken in the boom.
Indeed, the crash itself was not the cause of Ireland’s subsequent problems; rather it was the consequence of previous economic delinquency.
The truth is that, in 2008, the Irish economy was set up to crash. Mainstream economic thinking from John Maynard Keynes to Irving Fisher, Charles Kindleberger to Hyman Minsky, explains how this boom-bust process has happened time and again throughout history.
You would expect a decent undergraduate economics student to grasp this. Lamentably, the people who were running the place didn’t.
What was surprising, however, was not the crash but the vigorous rebound in the economy since 2012. This is when the Irish economy diverged from mainstream economic thinking.
According to economic theory, the Irish recession should have lasted much longer. This is because the specific type of recession Ireland experienced was “a balance-sheet recession”.
No lost decade
This type of recession has three main components.
First, the balance sheet of the middle classes implodes. On one side of the balance sheet are the assets that were bought in the boom. These collapse in the crash. But on the other side of the balance sheet are the debts the people took out to buy those assets. These debts don’t fall in tandem with the shrinking assets, but remain the same – or even rise. Demand seizes up and incomes fall.
Second, this dynamic leads to a component Keynes described as a “liquidity trap”, whereby the banks have too much bad debt on their hands and they don’t want to resume lending. Their prospective customers have too much existing debt and don’t want to borrow any more, no matter how low the interest rates. So, asset prices continue to fall.
Leading to the third component, which Fischer terms “debt deflation”, where the US found itself in the depths of the Great Depression. In the 1930s, both asset prices and incomes were falling. People with large debts, whose incomes were falling, sold assets to pay off debts.
But as everyone moved to sell, the prices of the assets (houses in the Irish case) kept falling, driving down both demand and income further. In time, this leads to the paradoxical situation where those who try to pay off their debts quickest find themselves not with less debt relative to income, but with more.
These three dynamics came together in Ireland threatening a Japanese-style “lost decade”. However, that didn’t happen. The economy rebounded quite quickly. Why? Was something else going on?
The global economic cycle in general and the Irish economic system in particular are being profoundly affected by structural changes brought about by technological innovations. Crucially, Ireland is benefiting more than most countries. While we in Ireland tend to see 2008 as the year when everything stopped, in reality, it was the year when everything started.
The smartphone
Just as the door was slammed shut on the Irish property panic, in California, a revolutionary new device, the iPhone, was taking the place by storm, as was Netflix.
Amazon released the Kindle as a platform for e-books. By 2011, there would be more e-books sold than physical books. By 2014, Amazon would be worth more than Walmart.
In 2008, the first Airbnb room was rented. By 2013, it would have more rooms available than the Hilton Group.
Facebook Ireland passed 100,000 members; today it has 2.6 million. Twitter arrived and Instagram was founded. Google ramped up in Dublin, as did LinkedIn and a host of others. In Japan, pseudonymous Satoshi Nakamoto unveiled a cryptocurrency called Bitcoin.
In October 2008, in Sweden, a couple of lads launched Spotify, one of the technologies that has transformed the music industry.
Meanwhile, across the Baltic in Estonia, a start-up called Skype was offering international mobile phone access, which had been ridiculously expensive, for practically nothing. The old telecoms model was over.
As Ireland was bracing itself for the Troika, WhatsApp and Snapchat were launched. Meanwhile, in San Francisco, a pushy young techie called Travis Kalanick established an app-based taxi service called Uber that would depend on another innovation called Google Maps. All of these apps depended on the iPhone and the iPhone depended on a new data-storing innovation known as the Cloud.
These technologies have changed both how the economy works and how we live our lives. The smartphone has driven globalisation, and the most globalised countries are therefore the very countries that have taken off fastest.
Ireland, with its heavy presence of foreign companies and attractive tax incentives, is one such country.
Technological change
While the Irish economy has reacted extremely well to these technological changes, with employment and demand growing strongly, the main issue for the future is how our institutions react to technological change.
In the next few years, how will our education system adapt to a world where people will have to create their own jobs as opposed to looking for a job given by someone else?
How will the welfare and tax systems use technology and data to improve efficiency? How will politics deal with the winners and losers in this new economy?
These are important questions. Have we learned anything from the last slump? Probably more than we think but less than we should. Human nature is what it is, and the housing market risks inflating yet more in the year ahead.
The big question is how are we positioning ourselves as individuals and ultimately as a country for this brave new world.
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“These three dynamics came together in Ireland threatening a Japanese-style “lost decade”. However, that didn’t happen. The economy rebounded quite quickly.”
Did it not? Pints you could buy for industrial wage:
Industry Weekly Wage____Euros___________Pint€________________Pints
1969____________________19.63___________0.20__________________100
1973____________________38.30___________0.24__________________159
2002____________________483.05__________3.24__________________149
2006____________________597.66__________3.74__________________160
2017____________________695.80__________5.50__________________126
======================================================================
https://voiceofeurope.com/2018/01/german-national-tv-attacks-poland-new-propaganda-documentary/
The reason 2008 happened was primarily down to people. In particular people who were too busy believing their own publicity Bertie being at the top of that list. Other groups high on the list are: Banks Unions Civil Servants Developers Regulators So the real question is how do we stop them doing a repeat. How do we stop the sense of entitlement overpowering us once again. A good example of what we’re up against is our health system Everyone agrees that radical reform is required. And that’s the only thing you’ll get agreement about, among the interested parties. Change comes… Read more »
“In the next few years, how will our education system adapt to a world where people will have to create their own jobs as opposed to looking for a job given by someone else?” We should already have abandoned our dependency on “a job given by someone else”. We already have the technology that can free us from all that. Almost every “job” today requires some degree of interaction with a computer. Most of these computers are already part of a network. Our future lies in creating new “workers’ networks” that will do the “job” employers want done but on… Read more »
“These are important questions. Have we learnt anything from the last slump? Probably more than we think but less than we should. Human nature is what it is, and the housing market risks inflating yet more in the year ahead.” ——————————————————————— What should be self evident but not admitted is that bailing out the bankers with taxpayers money was/is a crime. Subsidizing bankers and or business from the public purse leads to economic imbalances and moral hazard. It is detrimental to the people the government is supposed to serve. ——————————————————————- “The big question is how are we positioning ourselves as… Read more »
I don’t find David’s analysis very convincing here. IT and taxis, Skype and Netflix. I don’t know what some of these things are even. I managed the other day, at last, to get rid of the Spotify icon from the bottom of the screen (and what’s with this ‘lads’ business?). I wouldn’t know how to switch on an IPhone (if I knew what one looked like). I don’t get this Ireland positioning itself idea either. Who feels any loyalty to her any more? What does it mean? And what happened to the great Irish Diaspora? David foresees a world where… Read more »
Smartphones, Spotify, iPhones, Uber, Skype – these are all innovations that bring the prices down, all right (and I don’t want to go down the splitters regarding the real history of the iPhone) – but all these innovations are only related to free time. You cannot make income using any of these (unless you actually manufacture them, or run a business using them as a tool – in the latter case, it’s still only a tool) – you can only s p e n d your income on all of it you earned e l s e w h e… Read more »
” Leading to the third component, which Fischer terms “debt deflation”, where the US found itself in the depths of the Great Depression. In the 1930s, both asset prices and incomes were falling. People with large debts, whose incomes were falling, sold assets to pay off debts. But as everyone moved to sell, the prices of the assets (houses in the Irish case) kept falling, driving down both demand and income further. In time, this leads to the paradoxical situation where those who try to pay off their debts quickest find themselves not with less debt relative to income, but… Read more »
Outline of the Article + Some immediate Observations ////////////////////////////////////////////////////// Intro to Irish Crash 9 Paragraphs The truth is that, in 2008, the Irish economy was set up to crash AGREE ! Mainstream economic thinking from John Maynard Keynes to Irving Fisher, Charles Kindleberger to Hyman Minsky, explains how this boom-bust process has happened time and again throughout history. Keynes for sure WRONG in his version Keynes was working for the Rothschilds & their agenda. Likely the same about the others named. Certainly the same — if only indirectly — of Keynes’s acolytes. Grzegorz & Tony Brogan would be more authoritative… Read more »
The traditional economic models are outdated. These models are intended to capture in a crude way the underlying dynamics of economic activity. However they were intended to capture this activity within single Nation State one currency economic units. They were built in the era of National capital controls and local tariffs when political and economy activity was tightly regulated and aligned. The global movement of capital, goods, services and labour is too complex to be captured by such methods. People don’t operate to the rules of efficient market hypothesis. The theory is a crude representation of reality but it can… Read more »
Germany’s CO2 aspirations are trumped and go up in smoke. Coal smoke , that is!
https://needtoknow.news/2018/01/germany-abandon-climate-goal-merkel-criticized-trump/
Global Debt Is Destroying Real Wealth
Okay, now that we know the global wealth reached a new record high in 2017, what about the other side of the story? You know… the debt. As I mentioned in my previous article, ECONOMICS 101 states:
NET WEALTH = ASSETS – DEBTS
https://srsroccoreport.com/total-world-debt-rising-nearly-three-times-fast-total-global-wealth/
ALL THESE GADGETS & SERVICES WILL TIE IN “NEFARIOUSLY” WITH ;
THIS MATTER WAS THE REAL BIG ISSUE OF 2017, & HENCEFORTH IN “ORWELLIAN IRELAND”
“Put an Irish man on horseback,
And, he will ride for the Devil.”
Irish States Biometric Photo ID Card + associated Databases
National ID Card — & worse — by stealth
https://www.irishtimes.com/news/ireland/irish-news/government-hits-target-to-issue-three-million-public-services-cards-1.3349541
@ Grzegorz, Here is interesting post Re; current Silk Road Brabantian10 January 2018 at 02:44 China gov’t hires CIA-tied Blackwater mercenary – assassination group For its Belt and Road Initiative (BRI) – One Belt One Road (OBOR), China has just hired, particularly for the Xinjiang Uighur region and Yunnan Province – The deadly CIA mercenary group that used to be known as ‘Blackwater’, then became ‘Xe’ in 2009 and ‘Academi’ in 2011 … Erik Prince runs this group, his married-into-billions sister Betsy DeVos, is Trump’s Education Secretary Erik Prince recently offered to lead an off-the-books outside-the-CIA assassination army, killing around… Read more »
Hasta Baby David says : ‘What was surprising, however, was not the crash but the vigorous rebound in the economy since 2012. This is when the Irish economy diverged from mainstream economic thinking’. For me this is the narrative of his story . In the subsequent details in his article he explains how the Irish economy was saved by ‘technology’ and the speed it occurred .The other details are simply supportive sidekicks and do not form the real narrative on what really matters and his message therein. It is a relief that the economy rebounded dramatically and principally in Dublin… Read more »
Re ; Mshd > Google.com ;
Note ;
The most influential media person in USA — & he being the media person who garnered for Trump most of his support to elect him, & he having viewership much bigger than Fox News — Alex Jones is the host of this feature, & he is also false-opposition.
But, the protaganist against Google is seemingly decent.
HEADING ;
MUST-SEE:
Damore Lawsuit Exposes Google’s White Genocide Censorship Agenda
https://www.youtube.com/watch?v=5kR6iMxL8JY
Any of ewes going to Suds’s funeral ?
https://www.irishtimes.com/news/ireland/irish-news/former-ag-peter-sutherland-to-be-buried-on-thursday-1.3351303?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fnews%2Fireland%2Firish-news%2Fformer-ag-peter-sutherland-to-be-buried-on-thursday-1.3351303
“What was surprising, however, was not the crash but the vigorous rebound in the economy since 2012” This is the tell tale indicator of the real narative. Speaking about an economy as if it is some separate entity to the human beings who comprise it. If you check the CSO you will find the largest ever emigration out of the Irish never was a republic was 2015, 2014, 2013. So my question for you is who do you think you are kidding when you talk about the Irish economy taking off in 2013? All the tech advances took place outside… Read more »
SEEMS IF YEE CAN AVOID THE AUL “GENITAL MUTILATION” MULARKY ; ==> YEE’LL ALL BE IN THE MONEY. Here, contemplate upon this brought to u by aul Suds Great Economy here ! This is the litmus test. ////////////////////////////////////// 8th February 2013, #1 Catalpast Over $600 MILLION sent out of Ireland to Nigeria in 2011 That is the startling claim made by the prestigious World Bank report into the money flows of Irish Emigrants and Foreign Immigrants for the year 2011 Irish people living abroad sent more than $750 million (€560 million) back home in 2011. Foreign workers [?] living in… Read more »
Bewleys charge seven euro for a bowl of watery soup.Renting a three or four bedroom house in many parts of Dublin costs 3k per month. Worse than 2007,German interest rates are wholly inappropriate for Ireland.Deja vu.Next crash in 2020.Newry shop prices one third cheaper than Dublin. http://www.firstandlastofflicence.com ?????
https://www.irishtimes.com/news/world/uk/nigel-farage-warming-to-idea-of-second-brexit-referendum-1.3351818
When one of the ‘cleverest’ economists in Ireland claims that Natoshi Sakamoto is Japanese, you know there is a serious problem in conventional thinking facing up to the epochal disruptive tsunami that cryptocurrencies and Blockchain / Distributed Ledger Technology are about to unleash on the world economy. Natoshi Sakamoto is many things but Japanese ain’t one of them…
Best
Andy Mooney
Galway City.
Speaking of digital innovations, I found it hilarious: Bitcoin Conference Bans Bitcoin as Payment Option LOL
https://www.youtube.com/watch?v=7eodYcvWl9c
The forthcoming referendum on abortion is a real opportunity for Ireland to make a telling societal change. Without wishing to start a debate on the core subject a relatef issue come to mind immediately. Women in my humble opinion are treated as second class citizens when it comes to child bearing. The baby takes precedent. The consultants and midwives are not subject to enough scrutiny in the area of child delivery. A major issue during child birth is the size of the baby’s head and the “delivery channel”. With improving modern technology the call to opt for cesarean section instead… Read more »
http://thefreethoughtproject.com/trump-pardoned-megabanks-owes-millions-rampant-fraud-corruption/?utm_medium=pushnotify&utm_source=browser&utm_campaign=pushfeeds&utm_content=push
I cannot say I approve of this move.
THE SYSTEM IS THERE IS NO CHOICE AWAY FROM EVIL ;
U always must choose Evil
///////////////////////////////////////
Banksters @ Dante’s 9th Circle !
Title ;
E. Michael Jones – Banking and Sodomy Part I
Interviewer rigorously questions the Interviewee
https://www.youtube.com/watch?v=FBdJglu6s54
Re ; The longest running pernicious Gimmicks The Bankster Scam Bundle This historical note here strictly concerns only 2 Parts of that Scam Bundle 1_ Private Central Banking 2_ “Fractional” Reserve, or indeed the even worse “Zero” Reserve [ And, this the current scam ], Banking model of Private Commercial Banking …………………………………………………………….. 11 May 1812, The 1st, & so far the only, British Prime Minister to be assassinated whilst in office. Refused to declare war on USA when they refused to renew the charter of Rothschild owned “Bank of the USA” Worked to end the Slave Trade And, we surely… Read more »
Follow-on to recent DMW article about China & New Silk Road ;
Crucial mores that China’s government are upholding for China ==> :
restrictions* on particular “Western Devil” Hardware & Applications & Services mentioned by David
& according to the academics ; surge in China’s growth & influence
Even, temptation of anyone arsing around with computer games is thwarted by China’s administration.
No admission to internet cafes for China’s children as users during school hours.
…………………………………………………………
https://twitter.com/HenryMakow/status/951291631692599296
THE COLOUR PURPLE
Purple with Rage that she is that she fingered as NOT worthy to be President of USA
…………………………………………………………
Trump recently has been endorsing this lady, famous in motif of baton with bulbous head, as contender for senior political office too.
Yes, … Ms. Oprah Winfrey
BUT … BUT … BUT
https://truepundit.com/damning-oprah-video-surfaces-anti-christianity-rant-goes-viral/
And, it’s going VIRAL faster than GRINDER thanks to the technologies David outlines.
Beloved location for smart-phone users.
But, that ain’t why they got a free pass.
They got a free pass because they are part of the egregore.
https://truepundit.com/democrats-give-liberal-starbucks-exception-huge-sugar-tax/
All the apps you mention as economic “heros” are essentially ephemeral. Yes, they have billions of users, yes they employ thousands and make our economy look good. Yes, they spend some money in Ireland. No, they represent almost no capital investment. That is the conundrum of 21st century economics, unlike previous centuries. No hardware worth thinking about. The boom was sort of based on hardware, over valued, but some of it is still valuable. Money cost dropping from 8+% to 2+% and the stupidity of german banks caused Ireland to go down the pan. However, the german banks didn’t really… Read more »
Even now, not even 12 months into Trump’s presidency, names are being sounded as serious contenders for the next race, & the following one; Trump may not last his 4 years because of health issues by the way. Here are the main pretenders Michael / Michele Obama [ Husband / Wife of Obummer Obama ] ; 1st Tranny candidate Ivanka Trump Kushner [ Daughter of Donald Trump, & Wife of real USA President Kushner ] Oprah Winfrey ; Actually, of the 3, this person would be the most accomplished. Now, is a most opportune time to have ur case made.… Read more »
GM good news for drink “drivers”, bad news for Uber Taxis etc.
Train abd Tram drivers too.
https://lofi.phys.org/news/2018-01-gm-mass-producing-cars-wheels.html
For the record I am NOT Truthist/Bob-Bon. I don’t use a dock puppet to post his delusional tirades. Yes, I spend time in Lisbon on the trail of Fernando Pessoa and his caravanserai of heteronyms just as I track James Joyce to Howth, however my skill-set as a Cultural Cryptographer differ in fundamental ways to those two august historic figures. I deal with an online dimension neither of them had to factor in to their artistic calculus. The only caveat would be that most of these online scribbles are Automatic Writing from the QWERTYOuija keyboard & the.’real ‘ Andy.Mooney acknowledges… Read more »
Finally, a little surprise…. I may have encoded the locations of a vast tranche of Bitcoin on this blog and other online sites and Social Media experiments over the last near decade. The prize is there for whomsoever has the nous to crack the cultural cryptographic codes used to hide the pots of digital faux-gild at the end if the rainbow. Or this is just s wind-up. Who’d casually give.away millions? And why? This site is one repository and.Morrissey-Solo is another. My personal Social.Media experiments duplicate the treasure trails and will form part of my estate. Clever, hey? Ad I… Read more »
Gold has no counter-party risk ;
https://www.google.com/search?dcr=0&source=hp&ei=gVpZWo6bLsLR0AS7iY-4DQ&btnG=Search&q=gold+has+no+counter+party+risk
https://www.bloomberg.com/news/articles/2018-01-12/crypto-exchange-kraken-goes-dark-and-user-anxiety-surges
TruthInGovernment?
@TruthinGov2016
Amazon CEO Jeff Bezos Announces $33,000,000.00 in Scholarships for 1,000 Illegal Immigrants.
HOW MUCH FOR LEGAL IMMIGRANTS ? ZERO.
HOW MUCH FOR AMERICAN CITIZENS ? ZERO.
https://twitter.com/TruthinGov2016/status/951889497079283713
James Woods — famous actor in movies such as Once upon a Time in America — is a very influential blogger ;
.
.
This is a latest controversial post of his ;
………………………………………………………………
https://twitter.com/RealJamesWoods/status/951664077100625920
Further to 1 of the internet technologies that David omitted ;
vis.
Drone
BREAKING NEWS ;
Putin:
We Know the US Was Behind Failed Drone Swarm Attack on Our Syria Airbase
http://russia-insider.com/en/putin-we-know-us-was-behind-failed-drone-swarm-attack-our-syria-airbase/ri22172?utm_source=dlvr.it&utm_medium=twitter
Oprah Winfrey is a very capable woman ;
Interviewer
Actress
Producer
inter alia
And, of the 3 leading names for future President of USA she is the most accomplished & popular with most USA citizens & illegal voters too.
And, she exercises power to influence for good.
And, she exercises power to influence for bad ;
She promotes Gender Dysfunction
inter alia
BUT, SHE AS PROSPECTIVE CANDIDATE FOR USA PREZZIE JOB IS TOAST AFTER HAVING SAID THIS ;
Twitter, Google, Amazon, Youtube, & more are modern agents of “u know who”
They are pro-actively censoring, & telling lies, Re;
Poland
Ukraine
Middle East, e.g. Eskimo Secret Intelligence Service [ ISIS ] mercenary army inflicting atrocities on innocent Syria
e.g.
Crucifixions until death of Christian, & Muslim, young boys
HEADING ;
Israel Keeps Bombing Syria and Nobody Is Doing Anything About It
By Darius Shahtahmasebi
January 12, 2017
“Information Clearing House”
http://www.informationclearinghouse.info/48576.htm
From the would-be country that devised Scottish Rite Freemasonry, NATO Stooge Nicola Sturgeon is steering the way for so-called Refugees becoming Scottish Citizens HEADING ; Scotland Political Leaders Allow 16-Year-Olds to Vote and Want to Give Vote to Refugees, Too January 12, 2018 EXCERPT & FOREWORD BY OWNER OF LINK BELOW ; Edward G. Griffin HomeGEG CommentaryScotland Political Leaders Allow 16-Year-Olds to Vote and Want to Give Vote to Refugees, Too Scotland Political Leaders Allow 16-Year-Olds to Vote and Want to Give Vote to Refugees, Too January 12, 2018 The Scottish government is considering allowing refugees and non-EU citizens to… Read more »
“What g..eth a man if he winneth the whole World, But, loseth his soul ?” Beware reading the following content if u are of sensitive sort. The actions of the Occupier is just too g… Mshd-Google, Mshd-Youtube, Mshd-Twitter, Mshd-Amazon, inter alia want u to NOT know this ; They prefer u to have a g…ping hole in ur knowledge of the truth. And, it echoes, but even worse, the Garda-Landlords / Landlord-Gardai counter-allegations, so I heard, against totally innocent high performing mechanical engineering student Derek Fairbrother whom they gratuitously & maliciously assaulted & battered & rendered brain-damaged. In their ambush… Read more »
The regime of “not-my-Taoiseach” has by “ineffective gestures” allowed the children of the populace to be “homeless + roofless” ;
And, as foreseeable, it is the male children who would be the majority of those rendered “homeless + roofless” ;
At the very least, the regime of Politicos — Politicians & Civil SERPENTS & Quango Parasites — do NOT care.
Again, …
“What g…neth a man,
If he wineth the whole World,
But, loseth his sole ?”
//////////////////////////////////////////////////////////////
Awaiting the verdict of this case, I am inclined to believe the child already.
https://www.herald.ie/news/homeless-teen-allegedly-sexually-assaulted-by-man-who-took-him-in-36432721.html
The ebbs and floes of the credit cycle can take place in minutes with fractional reserve banking. This is because fractional reserve banking allows more money to be loaned , created out of thin air, than there is on deposit. If both lender and borrower to the bank exercise a claim on the money at the same time the bank is Rupted. There just is not enough money to settle all claims. The central bank is the lender of last resort keeping the banks solvent to prevent a “run on the bank” by supplying, lending, funds to the bank in… Read more »
Irish State is persists in being NOT “a bankable country” ! . Even with very latest & very expensive electronic technology — hardware & software — installed with purpose of ensuring that the Irish State’s Freemason System of [In]Justice is traceable. And, also with the expectation that there is human-stenographer always recording trials ; Thus, surely such a transcript also exists ? But, perhaps this situation does not operate for some courts ? Anyway, I expect that there is — even if state of the art technology is kept secret — a Speech-to-Text Transcript produced automatically from the Digital Audio… Read more »
https://www.youtube.com/watch?v=39RS3XbT2pU
The citizens having defeated the British army & receiving but a pittance of their pay, Hamilton of un-Christian Congress had the chutzpah to g..nsay for more hardship ; The Whiskey Tax ! At that time the only currency Here is example of how the government can undermine ur private currency [ Cyber-Currency / Crypto-Currency ] ; And, note that it was Hamilton — promoted ad infinitum by that pest Bon Bon of this very blog some years ago — who mischievously devised the Whiskey Tax. Washington was probably not so well intentioned to the citizens in this story too. And,… Read more »
BAIL-INS COMING ! An harpoon exponent with a strategically beguiling surname methinks. Who be given to that, pray thee tell ? HEADING ; Warning: Trump’s Federal Reserve Pick Hates Gold and Cash THE ARTICLE ; In case of emergency, you should always have a solid chunk of cash on hand. These days, that isn’t much riskier than keeping your money in a bank. There are stories of banks and governments suspending accounts for no legitimate reason. Furthermore, the interest rates at banks hardly give you much incentive to store your money there. But as with anything that gives individuals more… Read more »