The fact that The People's Bank of China (PBOC) was the first major central bank to launch its own central bank digital currency (CBDC) shows that China is not afraid of taking bold actions and can implement complex new systems much quicker than their American or European counterparts. Sometimes being first really does matter and I’m absolutely certain that there are lots of people within the Fed and the ECB who are justifiably very worried about the situation.
Read MoreWhat’s Next? Helicopter Money?
Our Central Bank (ECB) has officially entered the Twilight Zone. The actions announced on Thursday (March 10th, 2016) were unprecedented. Not even Japan has gone this far before. The confusion and disbelief among journalists in the press conference was palpable.
Read MoreNIRP. A Disgusting Four-Letter Word
ZIRP and NIRP. Not so long ago they were just economic theories treated with curiosity and disbelief. Now they are reality. The words are acronyms for Zero and Negative Interest Rate Policies. NIRP is the ultimate manifestation of stupidity in the global financial system.
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