I truly hope that this essay can help enlighten or give ideas so we can find a better solution for a sound monetary system for the sake of humanity and to end centuries of enslavement by the control of money by a
- US Food Bank Lines May Reemerge As Millions Set To Lose Unemployment Benefits
US Food Bank Lines May Reemerge As Millions Set To Lose Unemployment Benefits US food banks in Republican states are preparing for a massive demand surge in food aid this summer as 24 GOP-led states are set to end federal unemployment assistance before they're set to expire on Sept. 6. The benefits set to lapse include the additional $300 weekly federal supplement and other […]
- No, You Are Not Paying A Higher Relevant Tax Rate Than Billionaires
No, You Are Not Paying A Higher Relevant Tax Rate Than Billionaires Authored by Gary Galles via The American Institute for Economic Research, Under the headline, “You May Be Paying a Higher Tax Rate than a Billionaire,” ProPublica is running the latest iteration of the left’s claim that “the rich” don’t pay their “fair share” of taxes, to help gin up support for […]
- Military Investigators Baffled By Stolen Box Of Armor-Piercing Grenades
Military Investigators Baffled By Stolen Box Of Armor-Piercing Grenades The US military's vast supply chain is susceptible to theft. Thirty armor-piercing grenades went missing last year and were recently found behind a residential house. In 2017, rail freight company CSX Corp. hauled ammo shipping containers from Florida to Pennsylvania. Someone broke into the container along […]
- 3 Common Criticisms Of Crypto... And Why They're Wrong
3 Common Criticisms Of Crypto... And Why They're Wrong Authored by Kyle Ward via The Mises Institute, Peter Schiff is a well-known critic of Bitcoin, and while he is an excellent resource on many economic and political topics, he misses the mark on cryptocurrency. To be fair, he is right that Bitcoin and other crypto assets are high risk and volatile, and he correctly points out […]
- As Iranians Head To Polls Friday, Meet The Hardliner Likely To Succeed Rouhani
As Iranians Head To Polls Friday, Meet The Hardliner Likely To Succeed Rouhani Iran's presidential election which will see a new leader in office as Hassan Rouhani steps down due to term limits is once again pitting Islamic hardliners against centrists or "moderates". Rouhani himself has long represented the moderate faction, striking the 2015 nuclear deal with the West and currently […]
- Many US Cities Are Starting To Resemble Post-Apocalyptic Cesspools As America's Collapse Accelerates
Many US Cities Are Starting To Resemble Post-Apocalyptic Cesspools As America's Collapse Accelerates Authored by Michael Snyder via The Economic Collapse blog, For a moment, I would like you to take an imaginary tour of a major U.S. city with me, and I would like for you to try to guess which city I am talking about. As you stroll along the sidewalks in the heart of this city, […]
- Fed Blinks: Projects 2 Rate Hikes By End Of 2023
Fed Blinks: Projects 2 Rate Hikes By End Of 2023 Since the April 28th FOMC meeting, gold is the strong outperformer while the dollar is unchanged. Bonds and stocks are up about the same (1.5-2%)... Source: Bloomberg At the March meeting, only 4 FOMC members saw a rate hike in 2022... Source: Bloomberg The market is about 50-50 in its guess for a 2022 rate-hike (notably less […]
- Congress Is Empowering FTC's Lina Khan To Start Breaking Up Big Tech
Congress Is Empowering FTC's Lina Khan To Start Breaking Up Big Tech Like Bloomberg's Joshua Brustein pointed out in a column published earlier, as a general rule, FTC appointments don't attract much press interest. And yet the confirmation of Lina Khan as a member of the FTC, and subsequent announcement from the White House that she would be tapped to lead the Commission, has proved […]
- Will Trump Run In 2024? A Fascinating Clue From Don Jr.
Will Trump Run In 2024? A Fascinating Clue From Don Jr. Authored by Thomas Lifson via AmericanThinker.com, If Donald Trump decides to run for president again in 2024, there is little doubt that the GOP nomination is his for the taking. His support among the party faithful is so overwhelming that it is impossible to see anyone else winning primaries or caucuses. So, the question is […]
- Powell Pummels Bonds & Bullion, Saves Stocks With "Grain Of Salt"
Powell Pummels Bonds & Bullion, Saves Stocks With "Grain Of Salt" Stocks (and everything else) puked on The Fed statement and dotplots (amid hawkish signals for Fed Funds and PCE)... but then Powell saw what happened and stepped in to save the day with some epic cognitive dissonance. This seemed an appropriate analogy... Fed Chair Powell trying not to talk about taper today […]
- Federal Judge Deals Major Setback to Biden’s “Green” Agenda, Orders Resumption in Federal Drilling Auctions
A federal judge in Louisiana on Tuesday blocked the Biden administration’s pause on oil and gas leasing on public lands and waters, dealing a setback to a key White House effort to address climate change.
- Since the April 28th FOMC Meeting, Gold Is the Strong Outperformer While the Dollar Is Unchanged
Fed Blinks: Projects 2 Rate Hikes By End Of 2023. Since the April 28th FOMC meeting, gold is the strong outperformer while the dollar is unchanged. Bonds and stocks are up about the same (1.5-2%)...
- The Fed Has Ignored All the Urging To Slow Down Purchases
The Fed has ignored all the urging to slow down purchases, Powell cut the rug from under any dissenters on the committee, is insisting on printing more than during the depth of the GFC w/ the hottest economy in 50 yrs, inflationary pressures & the largest asset bubble in history.
- Wall Street Expects Fee Bonanza As $1 Trillion In Mutual Funds Become ETFs
Wall Street Expects Fee Bonanza As $1 Trillion In Mutual Funds Become ETFs This week, a quiet milestone in the changing nature of the asset-management industry passed without much notice from the heavily preoccupied financial press - and no, we're not talking about Invesco's latest volley in the buy-side fee wars. On Monday, Dimensional Fund Advisors converted $29 billion in mutual […]
- Even the Federal Reserve Doesn’t Believe the Federal Reserve Anymore
On another note… We think gold could DOUBLE and silver could increase by up to 5 TIMES in the next few years.
- Even The Fed Doesn't Believe The Fed Anymore
Even The Fed Doesn't Believe The Fed Anymore Authored by Simon Black via SovereignMan.com, More than twenty years ago when I was a young Army intelligence officer fresh out of the academy, my commander summoned me to his office one afternoon because he had a ‘special mission’ for me. I was beyond excited. My assumption was that it would be a clandestine assignment to lead one […]
- Dollar Jumps After Fed Pulls Interest Rate Hikes Into 2023
The dollar jumped against a basket of currencies on Wednesday after the Federal Reserve brought forward its projections for the first post-pandemic interest rate hikes into 2023, citing an improved health situation and dropping a longstanding reference that the crisis was weighing on the economy.
- Geoffrey Nice’s Road Show Vindicates Our Prognosis
Geoffrey Nice confirmed the coordinated role of the Uyghur Tribunal’s and the previous “China Tribunal” in a continuous effort to put political pressure on China.
- Gaza’s Summer: Destruction, Pandemic & Climate Change
Asmaa Abu Mezied describes the dangers of the hot months ahead for the besieged enclave, which just suffered bombing raids early Wednesday under Israel’s new government.
- "What The Hell?!" Biden Loses It After CNN Reporter Shouts Putin Question
"What The Hell?!" Biden Loses It After CNN Reporter Shouts Putin Question President Biden finished fielding questions following his solo press conference after today's some two-and-a-half hour long bilateral summit with Putin in Geneva (shorter than widespread expectations). Just as he was walking away from the podium, reporters in the press pool continued shouting him down […]
- Fed Meeting Live Updates: Follow the Big Policy Update, Chair Powell Briefing Here - 2:30 PM ET
Watch Fed Chair Jerome Powell's press conference and follow along with market reaction to the central bank's latest policy decision.
- Watch Live: Fed Chair Powell Explains How A Fed-Driven Surge In Cost Of Living Is Helping 'The Poor'
Watch Live: Fed Chair Powell Explains How A Fed-Driven Surge In Cost Of Living Is Helping 'The Poor' Dear Mr. Powell, Fed is holding rates at zero and buying $120 billion in bonds every month in the face of 17.4% export price inflation, 11.3% import price inflation, 6.6% producer price inflation, 5% consumer price inflation, over 15 million Americans on government dole, over 9 […]
- Gold Settles Higher, Then Moves Lower After Fed Policy Statement: MW
Gold climbed on Wednesday, with prices posting their first gain in four sessions. Gold prices then moved lower shortly after the Federal Open Market Committee kept its benchmark interest rate unchanged near zero, as expected, but increased its personal consumption expenditures forecasts for this year and next. August gold GCQ21, -0.77% was at $1,849.30 ...
- Dow Drops More Than 300 Points After Fed Sees Inflation Jump, Rate Hike in 2023
U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.
- Dollar Spikes As Hawkish Fed Tilt Batters Bonds & Stocks
Dollar Spikes As Hawkish Fed Tilt Batters Bonds & Stocks The dollar spiked immediately after The Fed admitted it was more than just thinking about thinking about tapering... and raising rates.... Gold dumped as the dollar spiked... Bonds were hammered... And stocks tumbled... How quickly will Powell walk back and de-emphasize all of this? Tyler Durden Wed, […]
- Fed Holds Rates Steady, but Raises Inflation Expectations Sharply and Makes No Mention of Taper
The Federal Reserve on Wednesday sharply raised its expectations for inflation this year and brought forward the time frame on when it will next raise interest rates.
- Politically Motivated Academics Have Forsaken Science on ‘Whiteness’ as They Steer America Towards Civil Strife
If white supremacy and 'systemic racism' were genuine problems, America would not be a major destination for migrant flows as it now is.
- Tropical Disturbance Could Pose Threat To US Gulf States
Tropical Disturbance Could Pose Threat To US Gulf States We told readers earlier this week that the National Hurricane Center (NHC) is tracking three tropical disturbances. The most severe tropical threat at the moment is developing in the western Gulf of Mexico. NHC's 0800 ET update specifies the low-pressure area over the Bay of Campeche and southern Mexico will begin to […]
- What Inflation? Export Prices Rise 17.4%, Import Prices Rise 10.8% (Copper And Nickel Fall 4%)
Ahead of The Federal Reserve meeting today, here are some interesting numbers that they won’t consider. :) The US export price index (end use) for all commodities for 17.43% year-over-year in…
- What Makes The Fed So Special
What Makes The Fed So Special Just minutes before the FOMC announcement, Deutsche's Jim Reid notes that it’s interesting that we are debating whether the median dot will show the first hike slightly before the start of 2024 or after it. So we’re arguing over something that may or may not take place in plus or minus 30 months. However as the chart from Reid shows, we have already […]
- Daily Briefing: All Eyes On The Fed: Will The Market Hear Some Taper Talk?
Daily Briefing: All Eyes On The Fed: Will The Market Hear Some Taper Talk? Real Vision senior editor Ash Bennington hosts Real Vision’s Ed Harrison and Jack Farley to break down an action-packed day as Fed Chair Jerome Powell responds to mounting inflationary pressure with the Federal Open Market Committee (FOMC) concluding their two-day policy meeting. The group covers how the […]
- Watch Live: Biden's Turn As US & Russian Presidents Hold Separate "He Said, He Said" Press Conferences
Watch Live: Biden's Turn As US & Russian Presidents Hold Separate "He Said, He Said" Press Conferences update(1:20pm): Now Biden's turn in what's expected to be a much more scripted presser, complete with teleprompter. Biden says he "made it clear" to Putin that we’ll continue to raise fundamental issues of human rights, referencing jailed dissident Alexei Navalny. He raised […]
- FBI Operatives Likely 'Unindicted Co-Conspirators', Organizers Of Capitol Riot: Report
FBI Operatives Likely 'Unindicted Co-Conspirators', Organizers Of Capitol Riot: Report Tucker Carlson dropped several bombshells on his show Tuesday night, chief among them was from a Revolver News report that the FBI was likely involved in organizing the Jan. 6 Capitol 'insurrection,' and were similarly involved in the kidnapping plot against Michigan Governor Gretchin Whitmer. […]
- Indianapolis Police Officer Sues NFL For Defamation In Anti-Racism Campaign
Indianapolis Police Officer Sues NFL For Defamation In Anti-Racism Campaign Authored by Jonathan Turley, There is an interesting lawsuit out of Indiana where Indianapolis Metro Police Department Officer De’Joure Mercer is suing the National Football League (NFL) for defamation after the NFL claimed that his shooting of an African American man was due to “systemic racism.” […]
- Here's How To Trade Today's Fed Decision And Powell Presser
Here's How To Trade Today's Fed Decision And Powell Presser While some, like DB's Jim Reid, say today will be the most important FOMC meeting of Jay Powell's career, others are more cynical and correctly conclude that even if the Fed chair wanted to take steps to preempt red-hot inflation, his arms are tied. "The FOMC meeting is unlikely to offer any surprises today as the Fed has […]
- A Glimpse at Hidden Stock Market Leverage of “Securities-Based Lending,” as Known Stock Market Leverage Spikes to WTF High
We don’t know how much total leverage there is, but from the trends in margin debt, we know it’s huge and ballooning.
- The Horrors of Hyperinflation: AIER
"Governments have few universally accepted goals. National defense, protection of property, and stability of the unit of account are arguably the three most important because all else rides on them. Hyperinflation destroys all three, so any serious risk of hyperinflation is simply unacceptable...
- Is "Running Hot" Inflation Wise And Humane?
Is "Running Hot" Inflation Wise And Humane? Authored by Michael Lebowitz via RealInvestmentAdvice.com, “To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target.” – Janet Yellen “To me, the weather is perfect when it’s 75 degrees.” Both statements have some truth to them but severely lack context. Even […]
- Has the Government Forgotten How Society Works?
"The premise for the modern administrative state is the dubious notion that the federal government can scientifically plan the lives of hundreds of millions of people. The practical outcome is a regime of sheer incompetence and counterproductive policymaking that is fundamentally at odds with...
- Biden-Putin Summit Live Updates: Leaders Hold News Conferences After Talks End Early
U.S. President Joe Biden held a high-stakes summit with Russian President Vladimir Putin on Wednesday at what the leaders agree is a "low point" in the U.S.-Russia relationship.
- Pfizer CEO Sees a Return to ‘Normal’ Globally by the End of 2022
Pfizer CEO Albert Bourla told CNBC on Wednesday that he expects life could return to normal for developed countries by the end of this year and the rest of the world by the end of 2022.
- The Markets Are on Edge Before the Federal Reserve’s Policy Update in the Face of Surging Inflation
There’s a chance it could pencil in an initial rate hike in 2023. In its previous forecast, there was no consensus for a rate hike among Fed officials though 2023.
- Researchers Want to Convert Plastic Waste into Vanilla Flavoring. But Will It Really Be Safe to Eat?
By B.N. Frank No doubt that discarded plastic is a huge problem (see 1, 2, 3). The good news is that there are people trying... Researchers Want to Convert Plastic Waste into Vanilla Flavoring. ...
- Why Is Wall Street’s Fear Gauge So Low?: FT
The Vix, a measure of expected volatility in Wall Street’s S&P 500 equity index, dwindled to a pandemic-era low of 15.7 points on Friday, having surged above 80 during the early stages of the pandemic. A measure of volatility on foreign exchange markets produced by Deutsche Bank also dropped to its lowest point since February 2020 last week.
- Biden Admin Tells Americans to Report Family and Friends Who Have the “Potential” for Radicalization
By Matt Agorist Despite Joe Biden running on a platform of unity to bring Americans back together, before he was even sworn in, he reneged... Biden Admin Tells Americans to Report Family and Friends...
- Fox Affiliate Fires Reporter After Release Of "Censorship" Clips Via Project Veritas
Fox Affiliate Fires Reporter After Release Of "Censorship" Clips Via Project Veritas Authored by Isabel van Brugen via The Epoch Times, A Fox affiliate station has fired a reporter after she went off-script during a weather segment on Monday saying she is being allegedly muzzled by Fox News, and later shared with Project Veritas recordings she says show the […]
- Media Meltdown Over Biden Nodding That He "Trusts" Putin Forces White House Statement
Media Meltdown Over Biden Nodding That He "Trusts" Putin Forces White House Statement Before even talking to Joe Biden himself, the White House felt the need to do damage control from the moment Biden was inside the room during the first rounds of talks with Putin, which are expected to last throughout the day. "The White House says that President Joe Biden was not suggesting to […]
- U.K. Inflation’s Jump Above BOE Goal Heats Up Debate on Prices
U.K. inflation surged unexpectedly past the Bank of England’s target for the first time in almost two years, lifting the pound and adding to speculation about when monetary policy could be tightened.Consumer prices rose 2.1% from a year earlier, the highest since July 2019, the Office for National Statistics said Wednesday. Economists and the BOE had...
- Europe’s Debt Avalanche Is Just About To Start: Bloomberg
The waiting’s over. The European Union has fired the gun on its multiyear bond issuance to fund the 750 billion-euro ($900 billion) pandemic recovery fund that the bloc agreed last summer.
- You Know It’s Bad When a North Korean Defector Says That US Similarities to NK Are “Insane”
By Daisy Luther We interrupt your regularly scheduled brainwashing for a dose of reality for a brave young woman who defected from North Korea in... You Know It’s Bad When a North Korean Defector...
- CP High! Price Inflation can lead to Debt Deflation
Like a child’s eyes welling up with tears, it will be a sign that all hell is about to break loose.
- Survey: 1 in 3 Americans to Postpone Retirement After Lockdowns
By Jon Miltimore The COVID-19 pandemic saw a retirement surge in 2020, with more than 3.2 million baby boomers retiring—more than double the previous year.... Survey: 1 in 3 Americans to Postpone...
- Smart IoT Devices Can Be Weaponized By Hackers To Launch Even Larger DDoS Attacks: Report
By Tyler Durden The internet of things (IoT) has increased the prevalence of intelligent objects at home. These devices can be anything from smart light... Smart IoT Devices Can Be Weaponized By...
- Questions For The Fed: When Do Inflation & Financial Risks Force A Change In Policy
If I could attend the June 15-16 Federal Open Market Committee, I would ask the voting members what are they trying to accomplish? Based on efforts to help the economy recover and boost general inflation, aggressive monetary accommodation has resulted in more general inflation than any reasonable person would have expected. Is it still appropriate to...
- Drowning in Cash, Money Markets Seek Another Life Raft From Fed (Repos, Inflation, Retail Miss)
This reminds me of the movie “The NeverEnding Story.” (Bloomberg) — Money-market investors are intensifying their focus on what the Federal Reserve might need to do to mainta…
- Impact of Three Rounds of Stimulus on Retail Spending Dollars in Pictures
The stimulus impacts are over already. What's ahead?
- Smart Tech Expert: Future “Smart Homes” Will Include Sensors in Clothing, Furniture, etc. Connected to Hazardous “Smart” Meters
By B.N. Frank It’s amusing as well as alarming when industry folks go to great lengths to depict “Smart Homes” as something desirable now and... Smart Tech Expert: Future “Smart Homes” Will Include...
- WATCH LIVE: Yellen Testifies on Biden’s 2022 Budget, Economic Recovery
Treasury Secretary Janet Yellen is expected to testify before the Senate Finance Committee on Biden's 2022 budget on Wednesday.
- China’s Campaign to Control Commodities Goes Into Overdrive
China has stepped up its campaign to rein in commodity prices and reduce speculation in a bid to ease the threat to its pandemic rebound from soaring raw material costs. State-owned enterprises were ordered to control risks and limit their exposure to overseas commodities markets by the State-owned Assets Supervision and Administration Commission...
- US Export Prices Explode At Fastest Pace On Record, Airfares Soaring
US import and export prices rose more than expected in May (+1.1% MoM and +2.2% MoM respectively). This pushed Export prices up by 17.4% YoY - the highest on record (since 1984) and import prices rose 11.3% YoY - the highest since 2011...
- US Housing Starts Disappoint In May; Permits Plunge To Lowest Since October
What are you going to do now Mr Powell?
- Risks Rise to Both the Fed’s Inflation and Employment Goals: WJS
The Federal Reserve is betting supply-driven inflation will be transitory—but that approach depends on inflation expectations staying low.
- Gold Subdued As Market Awaits Fed Stimulus Strategy
Gold prices were subdued and confined to a narrow range on Wednesday as investors awaited for any signs of early tapering from the U.S. Federal Reserve meeting. Spot gold was down about 0.3% at $1,853.80 per ounce at 1132 GMT. In a new policy statement and economic projections due on Wednesday, the Fed is expected to acknowledge the first...
- BIS Says “No Thanks” to Bitcoin for Payments: R. Christopher Whalen
The BIS is essentially saying to the banking industry that bitcoin is not a permitted asset for depositories. Adios bitcoin!
- China Is Kicking Out More Than Half the World’s Bitcoin Miners – A Lot Could Be Headed to Texas
In May, the government called for a severe crackdown on bitcoin mining and trading, setting off what’s being dubbed in crypto circles as “the great mining migration.” This exodus is underway now, and it could be a game changer for Texas.
- Feels Like 1977: Inflation Too High, Money Too Loose
Our central thesis of last’s night piece is that inflation is rapidly accelerating, not just due to the “base effect,” and that financial conditions are far too loose.
- Fed Needs to Take Action Despite Its Framework, El-Erian: Bloomberg
The central bank’s outcome-based approach exacerbates economic and financial risks and needs to be addressed now.
- Faster U.S. Wage Rises Will Help Entrench Inflation
U.S. employees are feeling confident enough to push for better pay and conditions, despite the high level of unemployment after the pandemic, a sign the balance of power is shifting in the job market.
- Poultry Prices Soar to Record Amid U.S. Chicken-Sandwich Wars
\Chicken-sandwich fever means poultry is pacing U.S. food inflation in the meat case.U.S. producer prices for processed poultry jumped to an all-time high in May, climbing 2.1% in the eighth straight monthly increase, U.S. government data showed Tuesday. Gains in poultry outpaced the 0.8% increase in the broader producer price index...
- The Department of Education Just Approved $500 Million of Student Debt Relief for 18,000 Borrowers
On Wednesday, the Department of Education announced that it had approved the cancellation of approximately $500 million worth of federal student loans held by 18,000 borrowers who attended ITT Technical Institute. The borrowers will have 100% of their loans cancelled.