{"id":35481,"date":"2016-01-30T00:15:55","date_gmt":"2016-01-30T08:15:55","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=35481"},"modified":"2021-01-15T17:35:34","modified_gmt":"2021-01-16T01:35:34","slug":"black-coffee-haughty-hot-dogs-naughty-potatoes-dead-men-walking","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id35481-black-coffee-haughty-hot-dogs-naughty-potatoes-dead-men-walking.html","title":{"rendered":"Black Coffee: Haughty Hot Dogs, Naughty Potatoes & Dead Men Walking"},"content":{"rendered":"

\"\"<\/a>It’s time to sit back, relax and enjoy a little joe<\/em> …<\/p>\n

Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what’s been going on in the world of money and personal finance.<\/p>\n

Let’s get right to it this week …<\/p>\n

Credits and Debits<\/strong><\/p>\n

Debit:<\/strong><\/span> The gap between the rich and the poor is wider that it’s ever been. In fact, according to a new Oxfam report, the richest 62 people in the world now own as much wealth<\/a> as the poorest half of the world’s population. In 2010, it was 388 people.<\/p>\n

Debit:<\/strong><\/span> For the record, the same Oxfam report also noted that the top 1%<\/a> have more wealth than the remaining 99%. Then again, I suspect most of them earned it. No, really. (Politicians, central bankers and their fellow cronies excluded.)<\/p>\n

Debit:<\/strong><\/span> Meanwhile, Norway’s biggest bank has called for a national ban on cash<\/a>. They say such a move would put an end to black market sales and money laundering — never mind the loss of privacy it would bring. The true motive, however, is this: a cash ban eliminates the possibility of bank runs. Even worse, it gives the state complete control of everyone’s wealth.<\/p>\n

Credit:<\/strong><\/span> Besides, as one commenter noted, if they get rid of cash:“How do you pay the lawn boy?”<\/em> True; true. Or any other cash-based service provider, for that matter.<\/p>\n

Debit:<\/strong><\/span> Of course, the growing calls for a cash ban are the result of negative interest rates being issued by the world’s central banks, including the Bank of Japan which announced it was finally going negative<\/a> this week too; after all, nobody in their right mind would keep physical cash in a bank if they had to pay one to hold it.<\/p>\n

Debit:<\/strong><\/span> Yes, this is the same Bank of Japan that just last week steadfastly denied<\/a> that it would adopt negative interest rates anytime soon. Heh. Imagine that.<\/p>\n

Credit:<\/strong><\/span> The BoJ’s move to negative rates — despite saying they wouldn’t a week earlier — is just more proof that you should never ever ever believe anything<\/em> a central banker says<\/a>.<\/p>\n

Debit:<\/strong><\/span> By the way, interest rates are the “price of money” — and the fact that they’re negative indicates there’s far too much cash sloshing around the world economy. In essence, it’s another signal that the system is hopelessly broken<\/a> and the world’s fiat currencies are dead-men walking. Psst. That means your dollar-based retirement savings are too.<\/p>\n

Credit:<\/strong><\/span> Think about it: How valuable can fiat currency be if the banks are paying<\/em> others to borrow it? On the other hand, I can assure you that central banks are not paying anyone to take the gold in their vaults. Quite the contrary<\/a>. Why? Four words: gold is real<\/em> money. (Yes, yes … and silver too.)<\/p>\n

Debit:<\/strong><\/span> Speaking of dying currencies, I see Venezuela’s bolivar is losing value so rapidly now that the IMF estimates inflation in South America’s socialist paradise<\/a> will be 720% this year. Forward!<\/p>\n

Debit:<\/strong><\/span> Fiat currencies aren’t the only thing with one foot in the grave these days; the beard fad is killing razor blade sales<\/a>. Being the contrarian that I am, the current boom in bristle-faced men prompted me to shave off my beard last year. (For what that’s<\/em> worth. I know, I know … not much.)<\/p>\n

Credit:<\/strong><\/span> Don’t look now, but McDonald’s has introduced chocolate-covered French fries<\/a> to their menu. The bad news is you’ll have to go to Japan to try them. On second thought, maybe that’s the good news.<\/p>\n

Debit:<\/strong><\/span> Then again, maybe I’m being too hard on the Golden Arches; at least I can still get a McDouble there for about a buck. Compare that to the recent World Economic Forum in Davos, Switzerland, where a hot dog cost $43<\/a>. And change. Roll your eyes if you want, folks; but it included grilled onions and mustard — at no extra charge.<\/p>\n

(The Best of)<\/span> By the Numbers<\/strong><\/p>\n

Calorie counts of various foods:<\/p>\n

231<\/strong><\/span><\/span> Calories in a small serving (2.5 oz) of French fries from McDonald’s. (Without chocolate sauce.)<\/p>\n

236<\/strong><\/span><\/span> Calories in a baker’s dozen of fried breaded shrimp.<\/p>\n

227<\/strong><\/span><\/span> Calories in one avocado.<\/p>\n

290<\/strong><\/span><\/span> Calories in one serving (4 fl. oz.) of Ben & Jerry’s Chunky Monkey ice cream.<\/p>\n

33 <\/strong><\/span><\/span> Minutes of jogging required to burn off one serving of Chunky Monkey.<\/p>\n

80<\/strong><\/span><\/span> Minutes of walking needed to burn the same number of calories.<\/em><\/p>\n

Sources: Calorie King<\/a><\/em><\/p>\n

The Question of the Week<\/strong><\/p>\n

[poll id=\"98\"]<\/code><\/p>\n

Last Week’s Poll Results<\/strong><\/p>\n

Do you like your name?<\/p>\n