Death of the Dollar

Utter Chaos at the Short End of the Treasury Market and at the 28-Day Treasury Bill Auction: A Deep Dive

by Wolf Richter, Wolf Street: Investors exacting their pound of flesh for the risk of a default “as early as” June 1. The chaos has been going on for weeks. And then it got funny at the Treasury auction on Thursday. Back on April 20, I marveled that the totally crazy 164-basis-point spread between the one-month […]

Is Switzerland About to Become First Country to Outlaw a Cashless Society?

by Nick Corbishley, Naked Capitalism: As in neighboring Germany and Austria, cash is still king in Switzerland albeit a much diminished one. But the Swiss will soon have the chance to vote on whether to preserve notes and coins indefinitely.   This is a rare positive news story that, perhaps unsurprisingly, has received next to no […]

Gold’s return as money

by Alasdair Macleod, GoldMoney: The consequences of Russia and her Asian allies embracing gold backing for their currencies are poorly understood in western capital markets. This move could lead to the destruction of the global fiat currency system. According to evidence which is widely ignored in western capital markets, a move by Russia to put […]