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Last summer, yet another European crisis prompted short-term interest rates to plunge BELOW ZERO.  Several nations even mandated short-term “NIRP” – or Negative Interest Rate Policy – to force investors to pull funds from banks and spend them; as discussed in my July 18, 2012 RANT, “NIRP VS. GOLD

Two days later – on July 20th – the ECB printed €100 billion to (temporarily) bail out the Spanish banking system…

Eurozone OKs bailout of up to €100 billion for Spanish banks

…and eight days later – on July 26th – “Goldman Mario” Draghi infamously stated the ECB would do “whatever it takes” to save the Euro…

Debt crisis: Mario Draghi pledges to do ‘whatever it takes’ to save euro

…yielding the September 6th launch of the OMT, or “Outright Monetary Transaction” program; to PRINT UNLIMITED MONEY to “stabilize” the European financial system…

At last, the ECB announces unlimited intervention!

Eight months later, the Eurozone has decidedly NOT been “saved”…

Mario Draghi and the ECB haven’t saved the Eurozone

…as not only is the ENTIRE CONTINENT in recession

Euro recession deepens: So what can the ECB do now?

…but unemployment is at an ALL-TIME HIGH…

Euro-Area Unemployment Increases to Record 12.1% amid Recession

…amidst continued collapse of the Spanish banking system…

Spain bad loan ratio resumes upward spiral

…prompting Swiss investors to again push two-year interest rates BELOW ZERO…

Swiss 2Y Rates

…at the behest of the EVIL, MORONIC IMF…

SNB Should Use Negative Rates If Franc Rises, IMF says

…and the TRAITOROUS, DESTRUCTIVE SNB…

Swiss Bank May Impose Negative Rates on Franc Deposits

Consequently, on May 1st, the ECB reduced its already ridiculously low benchmark rate from 0.75% to 0.50%…

ECB cuts interest rate to record low of 0.5pc

immediately stating its intention to go still lower if needed…

ECB’s Coeure says Rates can go Even Lower

ECB Tumbles on more Draghi Verbal Intervention

…ultimately, to the 0.00%-0.25% “range” the Fed has been at for the past four-and-a-half years

Fed Funds Rate Graph

…which, by the way, has caused yields to fall below 0.10% on U.S. Treasury Bills; not to mention, YOUR BANK ACCOUNTS and CDs…

Secondary Market Rate Graph

The premise behind “NIRP VS. GOLD” was that such foolish; inflationary monetary policies permanently dispel the PROPAGANDA that gold is worthless because it “doesn’t pay interest.”  Aside from the lunacy of stating that the ONLY asset that has maintained its historical purchasing power should be sold amidst the most widespread MONEY PRINTING orgy of all time; gold is the HIGHEST YIELDING ASSET in a NIRP environment…

Are Negative Interest Rates in Europe’s Future?

…and as of last week, such a MANDATE appears eminently possible for the ENTIRE Eurozone; as hinted by “Goldman Mario” at the ECB’s May 1st press conference…

ECB “Technically Ready” to Ask Depositors to Pay Banks for Holding Their Money

As the European economy worsens, Draghi won’t even need to enact such a policy; as rates will do EXACTLY what they did last summer; not to mention around the world – no matter how hard Central banks try to ignite HYPERINFLATION…

Japan announces “quantitative and qualitative easing” – ¥135trn of government bonds will be bought by the central bank

…that is, until they actually succeed in destroying their currencies…

German Weimar Republic in the early 1920s and the U.S. – Troubling similarities

…which they ALWAYS do…

Research Shows ALL Paper Money Systems Failed

Keep your eyes on short-term interest rates – WORLDWIDE; as no matter how much money Central banks PRINT, investors FEAR will inevitably return.  And when it does, EVERYONE will realize government bonds are not only unsafe, but amongst the most dangerous investments on the planet; and I’m sure you can guess where all that PAPER money will ultimately go…

Why is gold considered a “safe-haven”?