Now that Japan has let the negative rates genie out of the bottle, or as DB put it, 'opened the Pandora's Box' and in the process unleashed the latest global "silent bank run" and capital flight, prepare to hear a whole lot more about NIRP in the coming weeks because as Citi's Steven Englander put it, "Why are Negative Rates like Potato Chips? No one can have just one."
This is what else Englander said:
Submitted by Alexander Grover in Oslo, Norway
A Norwegian Gold Allocation Would Counter Sovereign Incompetence Risk
The Federal Reserve seems to have been caught off-guard by the recent turmoil on the markets. As the Chinese economic growth seems to be slowing down, all of the Western central banks need to re-think their plans, and the Federal Reserve will have to kneel in the dust.
Central banks are planning to launch a new form of digital currency as governments and banks begin phasing physical cash currency out of circulation. Debtcrash.report reports: Central banks are planning to implement a new form of currency that has the potential of being an even more profound change than 1913, 1933, 1945, or 1971. I discussed an option that the government and banks might use to get us out of the monetary mess we find ourselves in, it was called the E Dollar.
Beforer we discuss The Empire of Chaos ongoing attacks on "The Assassin Putin" and The Master of the Universe attempts to topple any challenge to Washington's global hegemony, we thought the following chart may give some much needed context for where the pain really is - the drop in the oil price in local currency terms has been the least of all major nations... for Russia