Meraglim Blog

Turkey’s President Urges Citizens to Convert Dollars into Lira…and Gold

The Turkish lira is another currency that has collapsed in recent months. Citizens of Turkey have dumped lira in exchange for dollars and stuffed the dollars under their mattresses exactly as some U.S. citizens did during the Great Depression. President Erdoğan has taken a slightly different approach than India, Zimbabwe, and others who have declared

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Now the “Cashless Society” Bandwagon Comes to Australia

We’ve seen the movement toward a cashless society take root in India, Sweden, other parts of Europe and the United States. Now the call is being heard in Australia. The Australian Broadcasting Corporation (ABC), the leading media channel in Australia, features an in-depth interview with Harvard Professor Ken Rogoff, author of the new book,  The Curse

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Greece Says If You Can’t Kill Cash Outright, Maybe You Can Tax It to Death

Governments are relentless and highly creative when it comes to taking your money. India has shut down the banks. Zimbabwe has offered worthless “bond notes” for hard currency (see story above). Turkey urges citizens to hand in their hard currency for local currency, but does suggest gold as an alternative. Other approaches to seizing citizen accounts include

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Shoppers Send a Reality Check to Markets. Spending is Down Sharply.

Amid all the euphoria about Trump’s big spending plans comes a reality check from the U.S. consumer.  In this article , you’ll see that in-store retail sales for the Friday and Saturday following Thanksgiving fell 3.5% compared to the prior year. It is true that more sales are happening online and that bargains are available beyond the traditional “Black

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Larry Summers Shows that His Ideology is Impervious to Facts

Larry Summers has campaigned tirelessly for the elimination of the U.S. $100 bill. He has joined his Harvard faculty colleague, Ken Rogoff, in supporting steps to eliminate cash from the U.S. economy. But, when one his fellow elites, Indian Prime Minister Modi, actually did eliminate the most widely used forms of cash in India, the

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