Thought for the day

"The supreme trick of mass insanity is that it persuades you that the only abnormal person is the one who refuses to join in the madness of others, the one who tries vainly to resist. We will never understand totalitarianism if we do not understand that people rarely have the strength to be uncommon." -- Eugene Ionesco

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The BoE first unleashed QE after the financial crisis to buy bonds in a bid to cut interest rates, boost shares and support the economy.

Policymakers doubled down during the pandemic, lifting total bond purchases to a staggering £895billion.

It is now starting to sell those bonds to curb inflation, a process known as quantitative tightening (QT), but the cost of its policy is becoming clear.

Norway, which supplies around 60 percent of Britain's gas, has raked in astonishing profits amid the energy crisis due to the skyrocketing cost of wholesale gas, sparked largely by actions committed by Russian President Vladimir Putin. But while Norway reaps the benefits of Putin's war, scuppering Putin's grip on Europe, households in the UK are also footing the bill.

Switzerland Mulling Bans on Electric Car Use Amid Energy Shortages MikeRivero Sun, 12/04/2022 - 09:32

As a result of the ongoing energy crisis throughout Europe, Switzerland is considering a ban on the use of electric cars for non-essential purposes.

Owners of Teslas, Volts, and other electric cars in Switzerland may soon find themselves taking the bus, with the country reportedly considering a partial ban on using EVs as part of a host of measures aimed at saving electricity.

Congress Should Investigate the Government, Not the Bidens MikeRivero Sun, 12/04/2022 - 09:32

Nobody trusts the IRS, and with good reason. It’s too powerful. It’s unaccountable. And it’s staffed by bureaucrats who seemingly take pleasure in making decent, hard-working Americans squirm.

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Expiring Money Will Define the Last Days of the US Dollar MikeRivero Sun, 12/04/2022 - 09:25

You may have never heard the term ‘expiring money’. Expiring money is basically money that comes with an expiration date. In other words, on a certain date in the future, it’s value will fall to zero.

According to the World Bank Blog (Part 1 and Part 2), expiring money is programmable money. It can transfer ownership, transfer value and be redeemable at a maturity date.

Alexander Soros, the heir apparent to left wing billionaire George Soros’ political and philanthropic mission, has traded selfies with beauties and bros for handshakes and hugs with world leaders.

The 36-year-old son of the Democratic mega-donor just attended the Munich Security Conference in Germany, where he joined heads of state occupied with the looming threat of Russia’s invasion of Ukraine.

Senate Republicans Demand McConnell Only Accept Short-Term Spending Bill MikeRivero Sun, 12/04/2022 - 08:51

Senate Republicans have vowed to oppose any spending bill that would go on beyond the 117th Congress.

Democrat Rep. Maxine Waters Praises FTX Founder In New Tweet MikeRivero Sun, 12/04/2022 - 08:38

Representative Maxine Waters has nothing but nice things to say about disgraced FTX owner Sam Bankman-Fried who is responsible for millions of people losing their crypto investments overnight.

In a recent tweet, Waters was quoted saying “SBF we appreciate that you’ve been candid in your discussions about what happened at #FTX. Your willingness to talk to the public will help the company’s customers, investors, and others.”

She would continue “We would welcome your participation in our hearing on the 13th.”

Money Supply Growth In October Fell To A 39-Month Low: A Recession Is Now Almost Guaranteed alexmark Sat, 12/03/2022 - 20:27
Mark Zuckerberg (Meta), Andy Jassy (Amazon), and Larry Fink (BlackRock) issued bleak warnings about the US economy at yesterday's DealBook Summit. alexmark Sat, 12/03/2022 - 20:26