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James Corbett joins Jim Goddard for his regular bi-monthly appearance on HoweStreet.com. This week they discuss how the Japanese are preparing for the new normal of negative interest, the ongoing oil glut, Zika hype and the state of the global markets.
SHOW NOTES:
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Revolt against NIRP Breaks out, Bank of Japan “Baffled”
Number of reported crimes in Japan fell to postwar low in 2015
The War on Cash: A Country by Country Guide
Negative Interest Rates Show Desperation of Central Banks
Making Sense of the Syria “Ceasefire” with Pepe Escobar
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Saudi oil minister Naimi: Oil production cuts won’t happen
And Now For The 100 Trillion Dollar Bankster Climate Swindle…
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Corbett suggests that, damaging as negative interest rates can be, there’s nothing else could be done to revive the economy. Not so. Direct government payments, whether rebates to taxpayers (as the US did in 2008) or expenditures on needed public services and infrastructure, can be effective.
There’s no need to fund these payments with debt. The U S Government has power to issue money directly. In fact, it already does to some extent, as coins.
I’m not sure if I can place links here, but see the Wikipedia article on “Economic Stimulus Act of 2008” and discussions of monetary reform at monetary.org for details.
Certainly these actions could possibly cause inflation, but it seems nowadays that is considered a good thing. More likely they would simply put idle resources to work, increasing production proportional to the increase in money.
Thanks for the comment, taxpayer. Just in case anyone received the wrong impression from my comments in this conversation, let me be explicit: I mean only to imply that negative interest rates are the “last tool in the toolbox” within the rigged and manipulated, phoney false corner that the central banks have deliberately painted themselves into. Of course the question of monetary reform is central to our understanding of the real (ie non-bankster) solution to this mess, and one that I have discussed many many times on this podcast, perhaps most notably (in terms of timing) the very day before the Lehman collapse:
https://www.corbettreport.com/episode-055-how-to-fix-the-economy/
But also here:
https://www.corbettreport.com/corbett-report-radio-059-solutions-monetary-reform/
And here:
https://www.corbettreport.com/interview-916-financial-survival-money-power-and-revolution/
And here:
https://www.corbettreport.com/interview-245-bill-still/
And here:
https://www.corbettreport.com/episode-139-know-your-history-colonial-scrip/
And here:
https://www.corbettreport.com/self-issued-credit-a-monetary-solution/
And of course as the concluding point of my Federal Reserve documentary:
http://corbettreport.com/federalreserve
It is sometimes difficult demarcating the line between analyst-of-what-is and advocate-for-what-should-be, so I realize sometimes there is confusion as to whether I am analyzing a phenomenon or advocating for it. I will attempt to be more mindful of this boundary in the future.