Saturday, May 25, 2024

De-Dollarization Bombshell

by Pepe Escobar, The Unz Review:

Get ready for what may well be the geoeconomic bombshell of 2024: the coming of a decentralized monetary ecosystem.

Welcome to The Unit – a concept that has already been discussed by the financial services and investments working group set up by the BRICS+ Business Council and has a serious shot at becoming official BRICS+ policy as early as in 2025.

According to Alexey Subbotin, founder of Arkhangelsk Capital Management and one of the Unit’s conceptualizers, this is a new problem-solving system that addresses the key geoeconomic issue of these troubled times: a global crisis of trust.

BRICS is preparing to launch an independent blockchain-based system called ‘BRICS PAY.’

Out Of Control Inflation: It Now Takes At Least $177,798 For A Family Of 4 To Live Comfortably In The U.S.

by Michael Snyder, The Economic Collapse Blog:

I never imagined that we would ever see a time when it takes $177,798 for a family of four to live comfortably in the United States.  Unfortunately, that day has arrived.  Our leaders have been pursuing highly inflationary policies for many years, and now we have reached a point where inflation is wildly out of control.  In fact, the latest wholesale inflation figure that was released on Tuesday came in much higher than expected.  Sadly, this is just the beginning and we are in far more trouble than most people realize.

$27,000 Gold

by Jim Rickards, Daily Reckoning:

I’ve previously said that gold could reach $15,000 by 2026. Today, I’m updating that forecast.

My latest forecast is that gold may actually exceed $27,000.

I don’t say that to get attention or to shock people. It’s not a guess; it’s the result of rigorous analysis.

Of course, there’s no guarantee it’ll happen. But this forecast is based on the best available tools and models that have proved accurate in many other contexts.

Bless his heart.

RAFI FARBER: CPI SINCE 1978 POINTS TO SILVER TOP AT $231 AND COUNTING

from Arcadia Economics:

TRUTH LIVES on at https://sgtreport.tv/

The Hidden Risks of Derivatives – A Peak Prosperity Clip

from Peak Prosperity:

TRUTH LIVES on at https://sgtreport.tv/

Element 79

by Robert Gore, Straight Line Logic:

A prime number for prime money

Change, like death, prompts psychological turmoil. Intellectually, most of us grasp that change is ceaseless, just as most of us realize we’re going to die. Emotionally, however, few embrace the former or accept the latter.
Humanity is in the throes of a change that is reversing a centuries-long trend. Power, in all of its aspects, is migrating downward. This epochal reversal has received scant intellectual recognition. Psychologically, it manifests as panic among the powerful and as newfound assertiveness among the formerly less powerful. It will take decades, perhaps centuries, to fully play out.

More Slowing Signals

by Turd Ferguson, TF Metals Report:

It’s another slow news day but, because of that, the weekly jobless claims data got far more attention than usual. And it’s a good thing, too, as the weekly totals finally budged off of the ridiculously stable 212,000 number for the first time in weeks.

For this data to have any relevance at all, it has to eventually begin showing the impact of the hundreds of thousands of corporate layoffs. Oh sure, maybe a “white collar” job loss comes with some sort of temporary severance package that forestalls a claim for unemployment insurance. But those severance checks run out eventually and, if you haven’t found a new job, you’re going to end up in line at your local employment office.

GoldSeek Radio Nugget – Bill Murphy:

from GoldSeek Radio:

TRUTH LIVES on at https://sgtreport.tv/

2024 Year of the Bank Run with John Rubino

by Kerry Lutz, Financial Survival Network:

Kerry and John Rubino delve into pressing economic issues, predicting a looming crisis driven by rising mortgage rates and increasing retail store closures. They argue the necessity for significant government intervention, similar to the pandemic-era stimulus measures, to mitigate the economic downturn. The conversation also explores the unique challenges facing retailers, especially in California, where lax laws on shoplifting complicate business operations. Additionally, they discuss the controversial “weaponization” of the criminal justice system, suggesting its impact on social order and business environment. Rubino and Lutz propose radical ideas for government restructuring, such as firing government employees in alphabetical order and maintaining only essential workers during crises.

Under The Radar: Hundreds Of U.S. Banks At Risk Of Failing – The Liberal Mainstream Media Is Hiding Multiple ‘Bidenomics’ News Stories That Could Negatively Affect Every American

by Susan Duclos, All News Pipeline:

With so much happening, nationally and internationally, sometimes things slip through the cracks. The MSM with billion dollar budgets, and hundreds if not thousands of employees, making it possible for them extensively cover everything under the sun (climate change hoax pun, intended), deliberately chooses to focus on stories that push their liberal agenda, rather than news that could negatively affect every American.

In many cases the MSM will mention a story, then immediately move on while downplaying it, and in others they will address a topic in a manner which allows them to spin the news in a manner that benefits Democrats. In some cases, news that affects the ordinary American can take lot of work, and multiple key words, to even find, after being buried by MSM activism stories, ad nauseam.

United Airlines Boeing 737 Makes Emergency Return To Japanese Airport After Wing Flap “Irregularity”

from ZeroHedge:

Wednesday:

Thursday:

Good morning, readers. There has been another Boeing incident overnight. This news is particularly alarming for anyone flying domestically or internationally on a Boeing jet, especially given the two Boeing mishaps earlier this week.

Uh-Oh – Biden Demonizes Companies, Seeks Ban on “Shrinkflation”

by Mike Gleason, Gold Seek:

As central bankers waver on rate cuts, precious metals markets continue to pull back.

On Wednesday, the Federal Reserve opted to leave interest rates unchanged. Given the spate of recent hotter-than-expected readings on inflation, policymakers had little choice but to postpone any plans for monetary easing.

Fed Chairman Jerome Powell conveyed confusion over the outlook for inflation and the prospects for rate cuts going forward.

Jerome Powell: