Posted on 02/10/2016 10:14:30 PM PST by abigkahuna
One of the most surprising comments this year came from a closed session on fintech where I sat next to someone in policy circles who argued that we should move quickly to a cashless economy so that we could introduce negative rates well below 1% – as they were concerned that Larry Summers' secular stagnation was indeed playing out and we would be stuck with negative rates for a decade in Europe. They felt below (1.5)% depositors would start to hoard notes, leading to yet further complexities for monetary policy.
(Excerpt) Read more at zerohedge.com ...
So clearly stated truth:
RE: “This country just exceeded $19 trillion in external debt with no end in sight. Our debt now surpasses our annual Gross Domestic Product (GDP), and we join economic powerhouses like Spain and Greece. Taken as a whole the 28 members of the European Union are at a debt level of 162 % of their combined GDP and the G-20 members are at 74.8%. With so many of the largest economies in the world behaving so irresponsibly, we are probably in trouble.
Central bankers should understand that printing more money and driving interest rates into negative territory is really a bad idea. But then just how squishy are they when comes to resisting the anxiety of politicians whose understanding of economics is limited to believing only large increases in the money supplies allow them to keep their jobs.
Trying to pass laws against the business cycle is never a good idea. If humans were meant to control rather than respond to the economy, God would have given them moral courage and infallible intellects.”
It’s more than that. Its the unbiblical idea common in cults that the US is central to the eschaton or God’s chosen country. This is a big focus of the 7 Mountains theology.
It’s the idea that God cares who POTUS is. We (the US) are not God’s chosen people.
And Christians don’t trade on the name of Christ to get votes.
Jeez people can you leave the Blood of Christ stuff alone...This is not a Cruz or Trump thread. Trump folks...forget it...Cruz people...forget it...this is about something beyond those two.
Just think...a cashless society and how many people will be thrust out of work. Think about the guy that sells used DVD’s at the flea market? Now out of work. Folks that work the fair industry....out of work. Anyone that works on a cash basis is now out of work while the government takes control of your bank accounts, forcing you to spend money because if not, it will be tapped.
There is some bad juju coming down folks...
Thank you.
What, may I ask, are your credentials as a theologian and biblical historian? You - who trashes Ted Cruz. I defend him, as an earned Ph.D in theology with many published books as well as having taught biblical history and archaeology on site in Israel.
Yes its an issue. Its an inherently unstable & unfair system.
Probably less than 10% of the population understands that.
The push towards a cashless society (which negative interest rates will require) is fascism, pure and simple.
This is one of the main reasons why I'm not supporting Cruz. His supporters are just effing weird.
That’s just stupid...
Did God tell Cruz to run for President?
We’ve had effectively negative interest rates for a while, with returns being less than inflation.
Yes. We should distinguish between de facto and de jure.
Bad time to win the powerball and be forced to buy in everything but the final thirty thousand dollars.
Bingo! Both the gooberment and the Banker Gangsters like it that way.
Note that bills are serialized. These days those s/n’s could be readily scanned and reported at each transfer with available technology.
“‘Here am I Lord, use me’”
God leads my life, too - much better than if left to my own whims and fancies.
Have you never read the bible? You do realize this is not an atheist forum.
Do you believe the bible is fiction?
Trying to understand your Christian bashing.
Church lady weirdos...you do realize this site is not hostile towards Christians. It embraces Christianity.
Only people I’ve heard use describe Christians(church ladies) as weirdos are leftists.
Anyone pushing for a cashless society just shows how out of touch they are with the reality for many at the lower end of the economic spectrum in this country. The idea that the many people without bank accounts are suddenly going to be able to handle a cashless system is ludicrous.
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