Denmark’s government led by Lars Løkke Rasmussen is shortly to implement a string of economic measures to revive its European low-inflation, low-growth economy. But several political scientists and whistle-blowers have pointed out that one of these economic measures isn’t economic, it’s political. The measure will miss its goal of increasing performance and place citizens exclusively under state control. It’s the killing of cash.
The reason invoked is that cash is expensive to handle, an outdated way of doing business. Which, in all fairness, stands to reason. The management relative to currency is spread out between central banks (which creates  the money), private banks (which distribute it), private secure cash transferring companies (which move it), and some security agencies (which monitor it). So, that does indeed represent quite a large amount of work the Danish central bank would like to dismiss, in order to modernize its economy.
But that’s missing the forest for the trees. The point of money has never been money. The one single point of cash is freedom. It’s the ability for a Dane (or any other) to go around and do his business without having a bank, or a state agency controlling what he bought, where, when, and from whom. It’s a balancing point for the ever-growing power of the state. If states are given absolute control, it is only a matter of time before dictatorship quietly installs. And with ever-growing numbers of laws passed – a concept known as legislative inflation – with every purchase, citizens are running a higher risk of being held accountable by courts.
And it gets worse. The deletion of cash wouldn’t only allow banking and public authorities in Denmark to monitor and control transactions after they’ve occurred. The hidden agenda of the move is to force citizens to spend, in other words to control spending before it even happens. Because people have a natural inclination to save money for a rainy day, they keep part of their earnings in cash or at the bank, where they generate interest. Because this money isn’t being spent, it isn’t generating tax revenue – something just about every European country is desperate for.
The Danish central bank therefore had the idea of negative interest rates: instead of earning interest at the bank, Danes lose a fraction of their capital. As Sean Farrel described, regarding Japan which has also opted for negative interest rates, “instead of earning interest on money left with the BoJ, banks are charged to park their cash. The idea is that instead of depositing money with the central bank or each other, they lend it to businesses and consumers. Banks may also cut deposit rates paid to customers, encouraging them to spend or invest instead of earning low or negative returns.”
So, the obvious choice would lead them to pull their money out under the form of cash (but that would do the government no good), or spend it. Without cash, there would be only one (fiscally profitable) option. Anti-consumerism, which is quite popular  in Denmark, is therefore about to receive a crushing blow, as consumption will soon become mandatory. As always, freedom fighters and libertarians will arise, but they will be fined for not spending. In the case of Japan, a 0.1 penalty is applied to deposits, which has led to a sharp increase in cash withdrawals from banks.
For the moment, there seems to be little opposition to this measure, within the Danish population. “Using cash is expensive, because it takes time for salaried employees to handle, and it’s also a security concern. Carrying cash opens you up to attack and even though we have relatively low levels of violent crime in Denmark, this is something business owners and employees tell us they worry about”, reported  the Danish chamber of commerce. Today, 6% of Danes use cash regularly, compared to 30 or 40% of their German neighbors.
As it is unlikely that Danes are fond of dictatorships, it’s a safer bet that this quiet consent is more the result of unawareness than genuine adhesion. Whistleblowers are trying to raise awareness on the matter, because such power grabs are historically known as irreversible. Once the state will have suppressed cash and established absolute power over its own economy, the Danes will not get their share back, as they will no longer have any power to force the state to hand back some of the power. Writer known as “Tyler Durden”, from Zero Hedge, warns  “The War on Cash is a favorite pet project of the economic central planners. They want to eliminate hand-to-hand currency so that governments can document, control, and tax everything. This is why they’re lowering the threshold for mandatory reporting of cash transactions and, in some instances, simply making it illegal to pay cash […] “The cashless society is the IRS’s dream: total knowledge of, and control over, the finances of every single American.”
The shift doesn’t concern only Denmark, but the entire Scandinavian area. Finland, Sweden and Norway have similar economies, with low resort to cash currency, and are also considering making the move. If those countries were to carry out the reform, the entire north of Europe would see its populations fall under complete economic control of its states. And as long as these states are run by the current class of politicians, the tyranny will be soft and silent. But when the next European bully comes to power, it will be a very different matter.
Ridiculous Tariffs on Wines – China Australia Trade War Explicated
Earlier in November 2020, Communist China slapped Ridiculously high tariffs up to 212.1% on Australian wines. These tariffs were in the response of ongoing trade war between Communist Party of China and Australia. China is the biggest importer of Australian wines making up a whopping 39% of Australia’s total wine export. Australia has already raised concerns at a WTO meeting about China taking measures against its barley, wine, meat, dairy, live seafood, logs, timber, coal and cotton, according to a reuters report.
How did China – Australia trade war begin?
China and Australia shared one of the best times in their relationship after Kevin Rudd from the centre-left Labour party came to the power in Dec 2007. During his leadership Australia decided to pursue appease China policy which included steps such as:
- Chastising Taiwan for its renewed push for independence and reiterating support for a one-China policy in favor of People’s Republic of China. (Source: The Age)
- Signing a A$50 billion deal with PetroChina in 2009 (largest contract ever signed between the two countries) that ensures China a steady supply of LPG fuel until 2029.
- Unilaterally announcing departure from Quadrilateral Security Dialogue to appease China.
Nosediving of China – Australia Relationship
The course of this partnership changed when Julia Gillard from the centre-left Labour Party took over the leadership and initiated closer partnership with United States. This included revival of interest in Joining Quadrilateral Security Dialogue and stationing of US troops near Darwin, Australia.
In 2013, Tony Abbott from centre-right Liberal Party took over the leadership. During his term Australia saw some confusion in its China Policy. His Defence Minister Senator David Johnston told in a statement that Australia is seeking to balance their relationship between China and the United States. It was during his term when Australia and China established a Free Trade Agreement.
However, the relationship between Australia and China took a downturn in 2015 when Malcolm Bligh Turnbull from the centre-right Liberal Party came into power. This is the point in history which has led to current trade war situation between Australia and China.
- Australia became the strongest opponent of China’s territorial claim in South China Sea.
- Banned foreign donations to Australian political parties and activist groups in a move to target Chinese interference in Australian democracy.
- Revived Quadrilateral Security Dialogue with United States (Donald Trump), India (Narendra Modi) and Japan (Shinzo Abe). This was the time when Quadrilateral Security Dialogue saw hope of becoming something bigger as all four countries had centre-right governments who had a clear China Policy.
2019 Onwards: China – Australia Trade War
In 2019, relationship between the two countries further took a dip with Scott Morison from centre-right Liberal party becoming the Prime Minister. During his leadership:
- Australia signed a letter condemning China’s mistreatment of Uyghurs and other minorities.
- Suggested investigating the cause of Covid 19 in April 2020, which resulted into an angry response from China threatening to reduce Tourism and Trade.
- Opposed the Hong Kong National Security Law in June 2020.
- Reiterated its support for ethnic minorities in China and freedom in Hong Kong in October 2020
- Demanded a formal apology from China for posting a fake image of an Australian soldier holding a bloodied knife against the throat of an Afghan child
In conclusion, these continuous attack on China made China so angry that they deliberately leaked a list of 14 points suggesting why China is angry at Australia
China’s attempt at “buying” left wing politicians around the world
Recent trend is suggesting China’s attempt at “buying” influential left-wing politician around the world. In November, 2017 Australia’s Labour Party’s MP Sam Dastyari went against his own party on South China Sea. He later quit his party after he was found of taking financial favours from China.
In 2008, India’s Centre-left party – Indian National Congress signed a Memorandum of Understanding with Communist Party of China. Its contents are still hidden from the Government of India and the people of India.
Recent US Report has shown concern on President Elect Joe Biden not clearing doubts on his China policy.
How Can we Help Australia Post Ridiculous Tariffs on Australian Wines?
In 2020 China has directly or indirectly impacted many of our lives. Some of us have lost our jobs, some of us are taking a reduced salary. In fact, some of us are sitting at home instead of travelling; while some of us have lost our loved ones only because of communist party was incapable of controlling a virus outbreak.
As the entire world is struggling with this virus, Chinese economy continues to be on path of surpassing the US. Therefore, we should pledge to minimize buying Chinese products. It might be impossible to completely boycott Chinese products, but we can at least minimize it.
Install Cultivate Chrome Extension (non sponsored/affiliate link – We are not getting paid to post this). This plugin works on both Google Chrome and the new Microsoft Edge. It helps you understand the origin and seller location of a product on Amazon. It is a great tool to minimize your dependence on Chinese products. If you are lucky, this extension will also suggest some Made in USA alternatives
Buy Australian Wines – Australia desperately needs a new market for its wine and other products. This New Year and Christmas season, we should pledge to celebrate with at least one Australian wine!
Seasif’s Franco Favilla discusses the post-Covid economy and the price of gold
Although the Covid-19 pandemic isn’t over yet, there has been much discussion on the idea of a “post-Covid” economy, especially with the beginning of vaccination efforts in some countries. With markets throughout the world suffering the economic effects of the virus, experts have been looking towards the future –– and one of the topics that often comes up is the price of gold.
In August, the price of gold exceeded US$ 2,000 an ounce for the first time, driven by multiple factors. However, in November, advancements in Covid-19 vaccines led to a decrease in this trend, a result of the turbulent period we are going through.
“Regardless of the market volatility and the price changes that could occur over a given period of time, the fundamental fact is that the price of gold over the course of 2020 has reached an all-time high, and this, in my opinion, is very good news for the world economy,” explains Franco Favilla, founder and CEO of Seasif, a multinational company active in the extraction and trading of gold and oil.
According to Mr. Favilla, the main problem of the pre-Covid economy was the completely arbitrary nature of international finance. At one time, a ton of gold corresponded to a ton of currency, but since the 1980s, and at an impressive rate since 2000, the gap has widened enormously, so much so that today the relationship between the world’s currencies and gold is enormously unbalanced.
Total gold reserves around the world cover only 30% of currencies. This means there is nothing to cover and guarantee the value of money. In short, money has turned into a pure convention, a pure agreement between parties acting outside the market. Gold, on the contrary, guarantees democracy, because it protects savers and the market, offering an objective value for parameterizing every transaction.
“My hope, therefore, is that the crisis caused by Covid-19 will help to change finance, making it less ‘phantom’ and more linked to an objective dimension, based on gold, with obvious advantages for the real economy. Gold protects consumers, the most important component in any economic system: if you don’t have a market made up of consumers with a certain level of wealth, how can you sell? To whom? Consumer protection must come first, and gold is one of the main ways of protecting them,” states the CEO of Seasif.
Sustainability has also been at the forefront in discussions about the post-Covid world, as countries look towards establishing a more resilient global economy, one able to better withstand such events in the future –– and “green gold” may well be a part of that future. Green gold, in a sense, can be considered the “gold of the future” due to its ethical and sustainable extraction process. Seasif produces green gold, with a department entirely dedicated to green, and has allocated economic incentives to its continued production.
Even as 2020 draws to a close, the future may still look uncertain. But for those searching for greater security, gold may be one of the few certainties left.
How to Trade Shares for Beginners
Although expectations had been modest for 2019, the stock markets around the world had been active in 2019 and the positive returns seen so far have exceeded even the most optimistic expectations. Supported by easy monetary policies around the world, as well as by positive economic expectations for 2020, stocks continue to move, which makes a significant number of people deciding to start investing. Since stock trading is much harder than most of them think, let’s see some of the most important things beginners must consider in order to accelerate their learning curve.
Stick with the most liquid shares
Finding “the next big thing” is one of the illusions that seduces most of the beginners. They spend a significant amount of time looking for those companies that will have huge returns over the next months of years. Not even the most-skilled stock traders are able to do that, so why do you think you will?
Instead of looking for those shares, stick with the companies that already have a leading position in the industry. Google, Facebook, Microsoft, Apple, and Boeing are just some of the names that are popular at the time of writing, and looking at their performance in the long run, so far, they’ve managed to impress.
Study educational materials
Beginners fail to understand that share trading is a skill-based endeavor and study is one of the most important parts of the process. Study as many educational materials as you can and gain as much knowledge as possible because you’ll definitely need it. This guide and other similar ones will introduce you to share trading and help you understand the basic concepts. Remember this axiom: “Around 90% of the traders lose 90% of their capital in their first 90 days of trading”. Education is one of the main factors why beginners stumble into the same mistakes over and over again. You don’t want to be in the same position as most of the people who don’t learn and spend time to sharpen their skills.
Build a portfolio
Closely linked to our first tip, building a portfolio of uncorrelated assets is one of the most important things to consider, if you want to limit the damages of your mistakes. No matter how good you are, in trading, you won’t make money all the time. Diversification will help you minimize the effects of some losing trades. Don’t concentrate all the risk in a single stock and instead pick at least three or four names that might perform positively in the near-term.
Health9 months ago
Questions On Everyone’s Mind During Coronavirus
Travel11 months ago
Dolphin Discovery is the only park with the AZA accreditation in Punta Cana
India9 months ago
5 Ways to Strengthen Sibling Bond
Travel11 months ago
Azul Talavera Hotel: the perfect place for your next holidays in Puebla
Travel10 months ago
6 Things you can do in Tijuana
Travel11 months ago
Ibiza: not only a destination for young people but also a natural paradise with dream beaches, exclusive locations, and luxury villas
Europe12 months ago
Holiday in Italy: choose Florence for a break in the winter
Travel12 months ago
Everything you need to know for your tourist Australian visa