India abolished banknotes last night without warning, triggering trading chaos in the country. As of midnight Wednesday, 500 and 1,000 rupee notes are no longer valid. Many ATMs are closed, and stores will no longer accept bank notes, which are the highest denominations in India. Even hospitals are reported to say no, even though they should have received an exemption from the flash operation.
The decision was announced late Tuesday night, just hours before it took effect. All 500 and 1,000 rupee notes must be exchanged in banks, and the idea is that this will attract large amounts of black-market money.
New 500 and 2,000 rupee notes are scheduled to be released on Thursday, but in a country with over a billion inhabitants, where very many manage all their business with cash, the changeover will be catastrophic.
“Life will be harder for everyone, from the poorest to the richest,” said the assessor Swaminathan Aiyar in the news channel ET Now.
In anticipation of the new banknotes reaching out is the highest denomination is 100 rupees (1.5 USD).
A fly landed on Hillary’s face during the October 9 presidential debate between Donald Trump and Hillary Clinton, and I was immediately reminded of a poem by Emily Dickinson.
I heard a Fly buzz – when I died – (591) By Emily Dickinson
I heard a Fly buzz – when I died –
The Stillness in the Room
Was like the Stillness in the Air –
Between the Heaves of Storm –
The Eyes around – had wrung them dry –
And Breaths were gathering firm
For that last Onset – when the King
Be witnessed – in the Room –
I willed my Keepsakes – Signed away
What portion of me be
Assignable – and then it was
There interposed a Fly –
With Blue – uncertain – stumbling Buzz –
Between the light – and me –
And then the Windows failed – and then
I could not see to see –
I find it fitting on many levels, metaphorically and literally. Literally: a fly actually landed on her face and she is in poor health. Metaphorically: her campaign is dying, and her criminal career is over. If you look deeper into the poem, flies are often associated with Beelzebub, the Lord of the Flies, the devil. In the end of the poem, the fly comes “Between the light – and me.” In other words, the devil is blocking her journey into the light as she closes her eyes and dies. Fitting indeed!
Looking for that perfect gift for your kid’s birthday? Instead of buying plastic crap that’s made in China, how about getting a treasure chest full of real silver coins! I usually put a silver coin in the kids’ Christmas stockings, and sometimes I use silver coins as a part of the gift wrapping for special birthday presents. On the next special occasion, however, I’m giving the kids a treasure chest full of real silver that I just found at BGASC.
This miniature treasure chest is filled with 100 1-gram Silver Salmon Rounds by Monarch Precious Metals for a total of 100 grams. Not only is it a fun way to teach the kids about sound money, it’s also a convenient way to stock up on silver in a compact storage box. The small wooden pirate chest contains 100 1-gram rounds with plenty of room to spare for even more loot! The small metal swivel latch will keep your treasure chest fastened shut when not in use.
The unique 1 gram Silver Salmon Round is a fractional silver round, skillfully made by hand by the Monarch Mint. Sheets of .999 fine silver are hand rolled, blanks are individually cut by hand, and the design is hand stamped on the obverse (front) and reverse (back). Because they are made by hand, no two rounds are exactly alike. Imagining the labor involved to produce large quantities of these fractional silver rounds makes us appreciate them even more.
The obverse (front) of the round reads “Monarch Precious Metals” with the signature MPM crown logo. The reverse (back) is marked “One Gram, .999 Fine Silver” and features a Pacific Northwest salmon in honor of MPM’s home state of Oregon, USA.
Silver Treasure Highlights
The chest contains 100 grams of silver.
Each round contains 1 gram of .999 fine silver.
Each coin is hand cut and stamped.
Symbolic Salmon design.
Fractional silver is easy to trade.
Funfor the kids!
Headquartered in southern Oregon’s beautiful Rogue Valley, the Monarch Precious Metals Mint hand pours and marks all of their silver bullion investment products the old fashioned way, giving them a unique look that collectors love.
The Swedish central bank, Riksbank, lowered the interest rate to -0.5% at 09:30 this morning (local time). Stefan Ingves, governor of the Swedish central bank, presented his new record-low interest rate from the Governor House in Stockholm. The interest rate was lowered to -0.5 percent from the previous -0.35 percent.
Usually when central banks lower interest rates, the market rebounds, but the Swedish stock market index, OMX30, dropped another 1% immediately after the announcement, landing around -3.0%, where it’s hovering now. With the OMX30 at -13% for the year, and a looming housing bubble about to pop, it appears that the Swedish central bank is out of ammo.
Compare the current housing bubble in Sweden to the 1990s bubble. Then consider that the world’s second-highest taxed population with a government that is hostile towards business is undergoing a stock market crash and a refugee crisis, and you have a recipe for pain and disaster.
Protestors are rioting at the opening of a the new European Central Bank headquarters in Frankfurt, Germany.
The bankster defense force, aka the police, have set up barbed wire outside the bank’s new building to protect their masters. At least one police officer has been injured.
Main-stream media was quick to label the demonstration as an “anti-austerity” movement, so it seems like this event has already been co-oped and will be spun into something other than a revolt against the banks.
At 9.30 this morning, the Swedish central bank, Riksbank, lowered the interest rate to 0%. Stefan Ingves, governor of the Swedish central bank, presented his new record-low interest rate from the Governor House in Stockholm. The interest rate was lowered to 0 percent from the previous 0.25 percent.
Sweden is often hailed as a socialist paradise, but obviously something is gravely wrong when 0% interest rates are required to keep the nation afloat. Not only are Swedes burdened with the highest taxes in the world, they are also drowning in personal debt, and they are facing an enormous housing bubble that is busting at the seams. Maybe Ingves’ zero-percent policy can kick the can a little further, but what comes after that?
Scotland is voting for its independence from the United Kingdom today. I predict independence will be denied. Whether by honest voter turn-out or government conspiracy, there is simply no way that the powers that be (TPTB) will let the slaves secede and abscond with all that oil. If Scotland secedes, the next thing you know, we’ll have people all over the world thinking freedom is an option, and TPTB can’t let that happen. Frankly, I’m amazed that they even let them vote on it.
There is one, and only one, way that Scotland will be allowed to secede, and that is if TPTB decide to use their secession as an excuse to kick off the global economic implosion that has been in waiting since the 2008 appetizer. You can imagine the headlines already: Unforeseen Consequences of Scottish Independence Cause Global Meltdown. Oh me oh my.
For over five years, we’ve been told things are recovering slowly; we’re not quite there yet, but things are getting better. MSM talking heads show us charts of unemployment slowly going down, and employment slowly going up, but they don’t show us the big picture. When Obama makes things perfectly clear, he never reveals the gravity of the situation.