Sunday, August 14, 2022

Australia’s Central Bank Working With BIS To Launch Digital Currency System

from ZeroHedge:

Australia’s Reserve Bank is launching a pilot program over the course of the next year in collaboration with the Bank for International Settlements (the central bank of central banks) to test the “benefits” of a blockchain ledger based digital currency system.  The central bank is added to a long list of participants in BIS efforts to introduce CBDCs (central bank digital currencies) with the target goal of launching them globally by 2025-2030.

FBI RAIDS DONALD TRUMP HOME IN FLORIDA SETTING OFF A FIRESTORM: A VERY DIVIDED COUNTRY

by Harvey Organ, Harvey Organ Blog:

GOLD CLOSED UP $6.70 TO $1795.75//SILVER WAS DOWN 25 CENTS TO $20.51//PLATINUM WAS DOWN $5.70 TO $937.50//PALLADIUM WAS DOWN $22.05 TO $2227.25//FBI RAIDS DONALD TRUMP HOME IN FLORIDA SETTING OFF A FIRESTORM: A VERY DIVIDED COUNTRY//COVID UPDATES//VACCINE INJURY REPORT//VACCINE MANDATE//CHINESE ECONOMY FALTERS AGAIN//NORWAY MAY CURTAIL ELECTRICITY TO EUROPE

The End Game for Silver Shenanigans…

by Clint Siegner, Money Metals:

The federal criminal trial of JP Morgan executives Michael Nowak, Gregg Smith, and Jeffrey Ruffo began on July 8th. These senior bankers are accused of running a years-long scheme to manipulate precious metals prices through what is known as “spoofing.”

Perhaps the three will be found guilty, but it isn’t likely to have much impact on trading in the paper silver markets. If there is solution to artificially rigged prices, it will come from somewhere else.

Gold & Silver Summer Of Pain (Or Buying) Over As We Wait For The Next Big Thing?

from Silver Doctors:

If they don’t give us the next big thing right out of the gate, there’s always the old standby come Wednesday…

(by Half Dollar) It feels like they’re just throwing everything against the wall and seeing what sticks.

Doesn’t it?

For example, we’ve had a few geo-political splatterings here and there, but obviously nobody is really buying the whole “here comes war with _______ (insert your favorite Conflict du Jour here)” talk.

Trump’s Inflation

by Antonius Aquinas, Antonius Aquinas:

Former President Donald Trump attends a rally in support of Arizona GOP candidates, Prescott, Ariz., on July 22, 2022. (Mario Tama/Getty Images)

Once again, former president Donald Trump criticized the Biden Administration for the record consumer price increases that Americans are now paying.  His remarks followed up on his July 4th speech in Wyoming where he lamented about the state of the nation: “I know it’s not looking good for our Country right now, with a major War raging out of control in Europe, the Highest Inflation in memory, the worst 6 month Stock Market in History, the highest energy prices ever.”*

75,000 BRITS VOW NOT TO PAY POWER BILLS DUE TO HUGE INCREASES IN PRICE

by Harvey Organ, Harvey Organ Blog:

GOLD/SILVER REBOUND NICELY AFTER THE PHONY JOBS REPORT ISSUED ON FRIDAY: GOLD CLOSED UP $13.55 TO $1789.05//SILVER CLOSED UP 83 CENTS TO $20.71//PLATINUM CLOSED UP $11.90 TO $943.20//PALLADIUM UP $117.70 TO $2246.99//COVID UPDATES: VACCINE INJURY REPORT//VACCINE IMPACT//DR PAUL ALEXANDER//HEAT WAVE CONTINUES IN EUROPE WITH ELECTRICITY RATES IN UK AND GERMANY SKYROCKETING//75,000 BRITS VOW NOT TO PAY POWER BILLS DUE TO HUGE INCREASES IN PRICE//PRODUCTION OF RICE FALTERS AMID HEAT WAVE//MILK ALSO IN SHORTAGES//CHINA VS TAIWAN, SITUATION ESCALATES!!/CEASE FIRE BETWEEN ISRAEL AND PALESTINIANS HOLD

Supply Chain Problems Will Persist Because The System Is Being Sabotaged

by Brandon Smith, Alt Market:

In a recent interview with Bloomberg, the executive vice president of UPS asserted that “regionalization” of the supply chain is critical to economic stability as geopolitcal conflicts expand. The word “regionalization” is basically a code word to describe decentralization, a concept which the UPS representative obviously did not want to dive into directly. Almost every trade expert and industry insider is admitting that supply chain problems are going to persist into the foreseeable future, and some are starting to also admit (in a roundabout way) that localized production and trade models are the key to survival.

Are Federal Student Loans Even “Loans?” From Forbearance to Forgiveness to Taxpayer Expense. Fairer: Allow Bankruptcy

by Wolf Richter, Wolf Street:

The educational-industrial complex is laughing all the way to the bank.

One person’s loan is another person’s asset. If the loan is canceled, the asset is destroyed. That’s how it is.

No one is making payments on government-backed student loans anymore, after two years of forever-forbearance, countless campaign promises of forgiveness, various targeted forgiveness programs already in effect, and now the biggie, the general forgiveness program being hashed out.

US Debt: The Sting of Higher Interest Rates is Just Getting Started

by Peter Schiff, Schiff Gold:

The Treasury increased the total debt by $27B in June. Activity slowed in the latest month across all instruments, but particularly the conversion of short-term to long-term. After massive moves to extend debt maturity and shrink short-term debt by $530B over 4 months (shown below by the large negative turquoise bars), July went very quiet.

DON’T TELL THE LABOR MARKET WE’RE IN A RECESSION

by Dave Allen, The International Forecaster:

Courtenay Brown and Neil Irwin have been spot-on with their analysis of the economy recently.

Yesterday, they wrote that the “strong labor market continues to be the economy’s bright spot.”

They say it could stay robust even as the Fed sends the economy into a slowdown if, that is, “businesses hoard workers to avoid repeating past mistakes.”

Employers, particularly in industries that have struggled with labor shortages, may be more reluctant to lay people off, even as rising interest rates and other factors slow consumer and business demand.

Is Zimbabwe’s New Gold Coin Evidence of a Broader Global Trend?

by Mike Gleason, Money Metals:

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.

Rising geopolitical tensions helped push gold prices up this week. The monetary metal ran to $1,800 an ounce on Thursday. As of this Friday recording, gold is pulling back some and comes in at $1,781 now – up 0.4% for the week.

Turning to the white metals, silver shows a weekly loss of 2.5% to bring spot prices to $20.08 an ounce. Platinum is up 3.6% since last Friday’s close to trade at $948. And finally, palladium prices are unchanged for the week to check in at $2,182 per ounce.

Steve Bannon at CPAC: The Federal Reserve Has Usurped the Power of the People and Must Be Ended

from The Gateway Pundit:

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

“Revolution Has Begun”: 75,000 Brits To Stop Paying Power Bills Amid Inflation Storm

from ZeroHedge:

The resistance is growing as more than 75,000 irritated people in the UK have pledged not to pay their electricity bill this fall when prices jump again.

“75,000 people have pledged to strike on October 1st! If the government & energy companies refuse to act then ordinary people will! Together we can enforce a fair price and affordable energy for all,” tweeted “Don’t Pay UK,” an anonymous group spearheading the effort to have more than one million Brits boycott paying their power bill by Oct. 1.