by Graham Summers
Europe has banned the use of €500 bills.
They claim these bills are used in money laundering and for drugs. And if you believe that is the concern, you probably believe the earth is flat.
The fact of the matter is that Europe is now the center for misguided Central Planning for monetary policy. ECB President Mario Draghi has cut interest rates not once, not twice, not even thrice, but FOUR times into NIRP.
The end result has been two items: