In one month, China has dumped $94 billion dollars in U.S. Treasuries. The pace at which Beijing is burning through its U.S. dollar assets in defense of the yuan has serious implications not only for investors’ collective perception of market stability, but for yields on core paper, for global liquidity, and for U.S. monetary policy.
According to the clowns at the White House, a year of U.S. bombing in Syria is not destabilizing; however, Russian military action against ISIS in Syria is? Make no mistake, the CIA supported ISIS and Al-Qaeda in Syria were solely the products of the 2003 U.S. invasion of Iraq under false pretenses to eventually wage war with Iran.
The Danger of Eliminating Cash
A society which uses electronic transfers spends bank deposits instantly. The merchant, who would also be subject to the same…
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