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April 11, 2022 | Washington Debates Cryptocurrency Rules, With Sights Set on Stablecoins

From the Wall Street Journal: As Washington attempts to get its arms around the rapidly growing cryptocurrency industry, policy makers in the Biden administration and on Capitol Hill have identified stablecoins as an initial target for tighter regulation. Often billed as one-to-one representations of a currency like the dollar, stablecoins have recently exploded in popularity […]

April 10, 2022 | David Stockman: The Coming “Biblical” Stock Market Crash

From David Stock via International Man: International Man: Whether we like it or not, the reality is, the Federal Reserve has an enormous influence over the dollar and the stock market. And right now, the Fed has an urgent and fateful decision to make. It can keep printing trillions of dollars, let inflation skyrocket or tighten […]

April 8, 2022 | Shocking Consumer Credit Numbers: Credit Card Debt Soars With Savings Long Gone

From Zero Hedge: While it is traditionally viewed as a B-grade indicator, the February consumer credit report from the Federal Reserve was an absolute stunner and confirmed what we have been saying for month: any excess savings accumulated by the US middle class are long gone, and in their place Americans have unleashed a credit-card […]

April 7, 2022 | Charles Hugh Smith: For Freak’s Sake, People, Even The Crash Test Dummies Are Nervous

From Of Two Minds: Those trusting the Fed to be visibly weak, corrupt and incompetent forever might be in for an unwelcome surprise. When even the crash test dummies are nervous, it pays to pay attention. Being in a mild crash isn’t too bad if all the protective devices inflate as intended. But in a horrific […]

April 6, 2022 | U.S. Dollar (USD) Is On Our Radar!

Since the USD plays such a strong role in global economics, we thought it appropriate to see how the USD performance is vs. other currencies and investments. For the U.S. consumer, a strong USD means U.S. goods are more expensive in foreign markets. For U.S. companies that buy or sell products/services globally, a strong USD […]

April 4, 2022 | Sri Lanka Crisis Sends Inflation Warning Worldwide

From Reuters:  Sri Lanka’s collapse is front of mind for many. Protesters fed up with crippling shortages of essential food and fuel items are on the streets, prompting multiple members of Prime Minister Mahinda Rajapaksa’s cabinet to offer to resign late on Sunday. Social unrest will probably accelerate a restructuring of some $44 billion of […]

April 3, 2022 | Wolf Richter: The Greatest Economic Injustice in Recent History

From Wolf Street:  The Fed’s own data on the distribution of wealth in the US is a quarterly report card on the Fed’s official policy goal of the “Wealth Effect.” It has now released the data for Q4. The Fed uses monetary policies, such as QE and interest rate repression, to create asset price inflation […]

April 2, 2022 | Sprott Money: Perfect Storm for the Dollar

From David Brady at Sprott Money News: The two primary drivers of the markets in general from my perspective were and are the following: The ongoing situation in Ukraine and the escalation of tensions between the East and West Inflation and monetary policy tightening in response by the Fed, BoC, and BoE to name a […]

April 1, 2022 | Charles Hugh Smith: Cancel the Funeral for the US Dollar: The “Patient” Just Leaped Out of the Coffin

From Of Two Minds: Sealing the USD’s coffin requires conjuring up a replacement reserve currency, and that turns out to be a lot more challenging than many understand. You know the scene in movies where the body-bag is being zipped up or the coffin lid slid into place when the recently deceased startles everyone by […]

March 31, 2022 | Joe Carson: Fed Policy On A Preset Course to Fail

From The Carson Report: Policymakers are trying to achieve a benign economic outcome, a soft landing similar to 1995. But unfortunately, history shows that soft landings are rare. Since 1960, there have been three soft landings but nine recessions. Soft landings happen when the Fed acts early and often, and recessions occur when the Fed […]

March 29, 2022 | Jordan Roy-Byrne: Gold Stocks To Outperform Gold Massively

From Daily Gold: Gold mining stocks as a whole have underperformed Gold since 2007. The GDX to Gold ratio from its 2007 peak to its 2015 bottom declined 80%. The Gold price peak in 2008 was about where it bottomed at the end of 2015. That’s over seven years of a flat market coupled with […]

March 27, 2022 | MN Gordon: Welcome To The Death Zone

From Economic Prism:  Do you own a house?  Do you rent? How you answer these questions likely influences your perception of inflation and the economy. But what if the forces driving your perception are about to reverse…thus, standing your perception on its head? We believe big, earth-shattering changes are under foot in the credit market.  […]

March 26, 2022 | Metal Exchange Chaos Sends Traders Rushing To The Exit

From Bloomberg: Traders and investors are rapidly cutting exposure to the London Metal Exchange after this month’s nickel-market chaos, driving open interest to a 15-year low and leaving key metals exposed to wild price swings as liquidity shrivels. The number of open positions across the LME’s six main metals fell more than 8% in the […]

March 25, 2022 | Global Bond Plunge Wipes Out $2.6 Trillion In One Year

From Bloomberg:  Global bond markets have suffered unprecedented losses since peaking last year, as central banks including the Federal Reserve look to tighten policy to combat surging inflation. The Bloomberg Global Aggregate Index, a benchmark for government and corporate debt total returns, has fallen 11% from a high in January 2021. That’s the biggest decline […]

March 24, 2022 | IRS Rolls Out Artificial Intelligence Tools for Enhanced Audits

From Mark Nestmann: A few months ago, I received an invitation to attend a lecture with the mind-numbing title, “The Transformation of Tax & Customs Law into the Digital World of Processes, Automation and Predictions.” I wasn’t able to attend, but it reminded me that like the android hosts in Westworld, the IRS was developing […]

March 23, 2022 | All That Glitters Is Not Russian Gold

From Pepe Escobar via the Strategic Culture Foundation: The “rules-based international order” – as in “our way or the highway” – is unraveling much faster than anyone could have predicted. The Eurasia Economic Union (EAEU) and China are starting to design a new monetary and financial system bypassing the U.S. dollar, supervised by Sergei Glazyev […]

March 22, 2022 | Is Gold Too Expensive?

From Claudio Grass: Over the last couple of years we witnessed quite an extraordinary ride in gold prices. An impressive ascent until the last quarter of 2020 was followed by a pullback that scared many speculators away, which in turn transformed into a period of strength and then came another ebb… And recently, once again, […]

March 21, 2022 | Jeff Thomas: The Great Depression II

From Doug Casey’s International Man: Whenever a movie has been a huge hit, the film industry tries to follow it up by doing a sequel. The sequel is almost invariably far more costly, as there’s the anticipation by those who create it that it will be an even bigger blockbuster than the original. The Great […]

March 20, 2022 | Why Oil Might Spike — And Stocks Tank — From Here

A thread just appeared on Twitter in which a couple of people who seem to understand the commodity trading business explain the nightmare that now confronts those traders. Here’s an excerpt, with a few technical terms explained for clarity: Commodity trading houses have had to manage liquidity at current price by re-entering the market and […]

March 19, 2022 | Lyn Alden: The Russian Impact On Commodities

Excerpted from Lyn Alden’s March 2022 Newsletter: The global economy, in a blank-sheet-of-paper naïve design that disregards the complicating factors of geopolitics, basically says this: we’ll take Chinese labor and logistics infrastructure, Russian and Brazilian commodities, and developed market institutions and capital, and combine them (and resources from similar countries across the spectrum) into full […]

March 17, 2022 | MarketWatch: Gold at $10,000? What’s Next After Russia’s Central Bank Gets Cancelled

From MarketWatch: The shockwaves are still being felt by the incredible Western sanctions that have rendered the $630 billion in reserves the Russian central bank accumulated virtually unusable. Can the current dollar-centered global financial system last if money can be summarily canceled? Arthur Hayes, a former emerging markets trader and co-founder of the BitMEX trading […]

March 16, 2022 | Mark Nestmann: Could Inflation Break America?

From In the early 1990s, former Federal Reserve Chairman Alan Greenspan reportedly said something to the effect that when inflation rises, “you’ll switch to something cheaper—more hamburger will show up in your meals than steak.” Greenspan made that argument in defense of what became known as “hedonic adjustments” in the Consumer Price Index (CPI). […]

March 15, 2022 | Jordan Roy-Byrne: Gold Has Done This Only Twice

From The Daily Gold: Gold is correcting a short-term overbought condition. Gold surged nearly $300/oz in less than six weeks and almost touched its all-time high. It was a logical point from which a correction could begin. This is only the third time in Gold’s history in which it corrected after reaching or approaching the […]

March 14, 2022 | Matt Taibbi: Orwell Was Right

From Matt Taibbi’s Substack: From free speech to “spheres of influence” to our passion for endless war, we’ve become the doublethinkers 1984 predicted. This weekend I re-read 1984, a book I tend to reach for when I get Defcon-1 depressed about the state of the world. Deep in the novel, Winston ponders the intricacies of […]

March 13, 2022 | Charles Hugh Smith: The Only Non-Totalitarian Solution To Resource Scarcity: Decentralized Degrowth

From Of Two Minds: Totalitarian imposed inequality is the only possible path of centralized Degrowth: 10,000 for me, one for you, unless you disobey, and then you get zero. The fantasy is that everything will soon be super-abundant and cheap again because creating money out of thin air creates demand out of thin air and […]

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