Business

Helicopter money may be on the horizon, but if Deutsche Bank has its way, there is at least one intermediate step.

According to DB's Dominic Konstam, now that the benefits QE "have run their course", it is time for the next, and far more drastic step: "the ECB and BoJ should move more strongly toward penalizing savings via negative retail deposit rates or perhaps wealth taxes. With this stick would also come a carrot – for example, negative mortgage rates."

One of the biggest ironies in recent months has been the Bank of Japan's recurring insistence that it would promptly intervene in the FX market if the ongoing "disorderly" moves in the Yen do not stop. This was ironic because it was the BOJ's own insistence in characterizing virtually every move as disorderly that ultimately led to the most disordely move of all this week when following the BOJ's "disappointment" in failing to do anything, the Yen soared the most in years, to a level not seen since October of 2014.

Submitted by Alasdair Macleod via GoldMoney.com,

Saudi Arabia has been in the news recently for several interconnected reasons. Underlying it all is a spendthrift country that is rapidly becoming insolvent.

Submitted by Mac Slavo via SHTFPlan.com,

The stock market may be hovering near all-time highs, but according to Greg Mannarino of Traders Choice that doesn’t mean the valuations are actually real:

We exist, beyond any shadow of any doubt, in an environment of absolute fakery where nothing is real… from the prices of assets to what’s occurring here with regard to the big Wall Street banks, the Federal Reserve, interest rates and everything in between.

 

Three months after Japan unveiled NIRP - mostly for local banks - the effect for everyone else has finally arrived.