Visa Declares War on Cash

Just this week, Visa has escalated its “war on cash” by offering restaurants up to $10,000 for ceasing to accept cash payments. As a credit card company that facilitates electronic payments between customers and banks, Visa’s operation have long been in direct competition to cash, hence Visa’s opening salvo. But this assault on cash is […]

How Corporations Have Been Masking Economic Reality

Take a close look and try to figure out what’s wrong with this picture This is a chart of the S&P 500 from 2008 to the present. Its story is clear: the market plummeted during the financial crisis of 2008 and began recovering in 2009, upon which a great bull market emerged, one that continues […]

G20 Approved: Adequacy of Loss Absorbing Capacity

It’s not uncommon for governments to use indecipherable language as a means of diversion and concealment. The irony is that while government publishes information for the public—information critical to public safety and interests–the documents are often shrouded in jargon or legalese. The result (perhaps an intended result) is that many people just avoid reading or […]

US Bankruptcies Rise as Credit Cycle Ends

A disturbing trend in rising commercial and consumer bankruptcies has begun as the credit cycle comes to a close Easy money comes with opportunities and risks. Unfortunately, when the benefits of easy money are immediate and risks deferrable, it’s easy to forget about the latter. Borrowers tend to become infected with a sense of financial […]

Was Government Behind the Silver Flash Crash?

At approximately 7:06 PM ET on July 6, COMEX Silver futures (Sept. contract) plunged 11 percent from $16.14 per troy ounce to $14.34 within  just one minute.  The 4,954 contracts traded within this minute represents 24.77 million ounces, approximately  $397.8 million in value minutes before the plunge. Within three minutes, silver rebounded 10.95% to $15.90, […]