Going Cashless: EU Is Pushing To Criminalize Use Of Physical Cash
As Central Banks assert control while making way for their dystopian Central Bank Digital Currencies, governments are moved to criminalize the use of cash. It’s an incremental squeeze, lowering the levels of permitted transactions. The war on cash is global, making it obvious that this is a key part of flipping the world into scientific […]
Did SVB break the Fed? Officials mull risks of more rate increases
By Howard Schneider WASHINGTON, March 20 (Reuters) – At an early January meeting of the Virginia Bankers Association, executives were already nervous that Federal Reserve interest rate increases were making it hard to compete for deposits. “Everywhere I go in the industry people are feeling that kind of pressure,” the featured speaker of the day, Richmond […]
Massive Hedge Fund, Also Known As Swiss National Bank, Suffers Colossal $143 Billion Loss In 2022
BY TYLER DURDEN TUESDAY, JAN 10, 2023 – 06:55 AM The last time we looked at the massive money-printing (literally) hedge fund that also moonlights as the Swiss National Bank, we were stunned to learn that its US equity holdings had exploded to a record $177 billion at the end of Q1 2022, orders of […]
BIDEN ECONOMY: Biden Wiped Out $10 Trillion of Americans’ Wealth – 2022 Saw Worst Bond and Equity Losses Since 1871
By Joe Hoft Published January 1, 2023 at 3:40pm Steve Cortez was on the War Room on Friday where he discussed the destruction of the US economy under Joe Biden in 2022. Biden wiped out $10 trillion in America’s wealth in 2022. This is record-breaking destruction. Steve Bannon rolled out the chart from earlier in the […]
Media stocks lost over $500 billion in value this year — here’s what happens next
Alexandra Canal ·Senior Reporter Mon, December 26, 2022 at 6:45 AM EST·7 min read The media industry has battled a tumultuous 2022. Rising costs, debt-ridden balance sheets, and a renewed focus on profitability weighed on the embattled sector as investors quickly punished companies struggling to turn a profit. Netflix (NFLX) shares are down about 50% […]
Real US Retail Sales Tumble (Again) In September
US retail sales were expected to rise 0.2% MoM in September but instead were disappointedly unchanged. On a year-over-year basis, retail sales (nominal) rose 8.2%, the weakest since April Source: Bloomberg Ex-Autos and Ex-Autos and Gas both rose more than expected (+0.1% vs -0.1% exp and +0.3% vs +0.2% exp respectively). On a YoY basis, […]
The Era Of Cheap Food And Cheap Gasoline Is Over
Authored by Michael Snyder via TheMostImportantNews.com, All of our lifestyles are about to change in a major way, but the vast majority of the population still does not understand what is coming. Throughout our entire lives, we have always been able to depend on a couple of things. There would always be cheap gasoline to […]
JP Morgan Cuts Ties With Kanye West’s Business After Controversial Tweets: Report
Authored by Tom Ozimek via The Epoch Times, JPMorgan Chase has decided to end its business relationship with rapper Kanye West’s company Yeezy, according to conservative commentator Candace Owens, which comes after West was suspended from social media after posting content accused of being antisemitic. Owens shared a letter reportedly from JPMorgan Chase indicating that the bank will […]
French Gas Rationing Begins As Refinery Strikes Worsen After Government Calls Back Essential Workers
France said on Tuesday that it would “requisition” (i.e. force) essential workers to staff Exxon’s French oil depot, and threatened to do the same for Total’s French refineries if talks failed to progress. But workers at Total’s Donges refinery decided on Tuesday to strike beginning on Wednesday, the militant French union CGT said according to […]
Markets Are Expecting The Fed To Save Them – It’s Not Going To Happen
Authored by Brandon Smith via Alt-Market.us, I have said it many times in the past but I’ll say it here again: Stock markets are a trailing indicator of economic health, not a leading indicator. Rising stock prices are not a signal of future economic stability and when stocks fall it’s usually after years of declines […]
The Fed’s Real Mandate – More Than What You Think…
Authored by Mark Thronton via The Mises Institute, The Federal Reserve has a legal dual mandate to minimize unemployment and price inflation. The current “dual” between the two mandates is to reduce price inflation by increasing interest rates to increase unemployment and kill businesses to choke off aggregate demand. This has been the most important […]
Your Next Pain Will Be Soaring Electricity Costs As Energy Crisis Comes To America
One central theme that comes to mind is the impact of higher natural gas prices and, by extension, power prices. Americans will soon see higher gasoline prices at the pump because of OPEC+ production cuts slated for next month. Many folks will also see their electricity bills rise this winter because NatGas generators power a […]
Russian Oil, Coal Exports To China Soar In August
China’s imports of crude oil and coal imports from Russia exploded in August, data showed on Tuesday, but despite the jump in supply, Russia handed back its top oil supplier ranking to Saudi Arabia for the first time in four months, even as coal exports hit a record high. According to data from the Chinese […]
Rates To 4% “Come Hell Or High Water” – Fed Has Credibility Crisis & Powell Knows It
Rates To 4% “Come Hell Or High Water” – Fed Has Credibility Crisis & Powell Knows It Authored by Mike Shedlock via MishTalk.com, …some interesting statements by former Fed Vice Chair Richard Clarida and his ducking of questions on the Fed’s role in this mess. Image of Richard Clarida from video below Credibility Problem and […]
Joe Biden’s Inflation Reduction Act “Secretly” Brought To You By Bill Gates
The Democrats’ “Inflation Reduction Act” – which according to the Congressional Budget Office will raise taxes on the middle class to the tune of $20 billion – not to mention unleash an army of IRS agents on working class Americans over the next decade, was made possible by Bill Gates and (in smaller part) Larry Summers, who have […]