Saturday, April 20, 2024

What the Baltimore Bridge Disaster Could Mean for the Economy

by Peter Schiff, Schiff Gold:

While the total annihilation of the Francis Scott Key Bridge in Baltimore probably isn’t a “Black Swan” big enough to trigger a global collapse, it adds potent fuel to several fires in an already fragile global economy.

Broad expectations are for most of the economic fallout to remain local to the surrounding area and Mid-Atlantic states, with Maryland alone estimated to lose $1 billion in value from the disaster. Most economists don’t expect national GDP to take any significant hit, despite the local challenges — but as Maryland’s Senate President Bill Ferguson posted to X after the crash of the Dali:

Fed Roundtable Reveals a “Perfect Economic Storm” Approaching

from Birch Gold Group:

There is a big disconnect between what the White House would like you to believe about the economy, and how most Americans are feeling about it right now.

Some members of the Federal Reserve board, including Chairman Powell, tried to listen to the concerns that a handful of panelists had, and the result wasn’t surprising.

The Fed got an earful during a town hall-type event event recently:

Federal Reserve Policies and Silver Industrial Demand

by Craig Hemke, Sprott Money:

Watch Craig Hemke from Sprott Money and Chris Marcus from Arcadia Economics on the “Monthly Wrap-Up” podcast for a quick dive into the latest in precious metals. Get insights on soaring gold and silver prices, Federal Reserve policies, and global tensions, plus expert tips for navigating the market. Tune in now for your monthly dose of valuable analysis!

“Goldilocks” Is Gonna Get It

by Jim Rickards, Daily Reckoning:

The Fed kept the fed funds rate unchanged at last week’s meeting, as I predicted.

That makes 17 Fed meetings in a row going back to March 16, 2022, when I got the Fed forecast right. Events remain uncertain from here, but it’s so far, so good for my forecasting (that’s not because I have a crystal ball but because I know how to read them).

Jay Powell’s press conference following the FOMC meeting was notable for how little was said about interest rate policy and how few questions there were from the media on that topic.

Media Blackout: 10 News Stories They Chose Not to Tell You – Episode 15

from mariazeee:

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

Michigan Offering Citizens $500 Per Month To House Illegal Immigrants

by Steve Watson, Modernity News:

The state of Michigan is offering $500 per month to residents who agree to house illegal immigrants in their homes.

The so called ‘Newcomer Rental Subsidy‘ would provide the payment for up to a year for any homeowner willing to take part, equating to a total of $6000.

The state those says those eligible for the program include refugees, asylees, special immigration visa holders, victims of human trafficking, Cuban and Haitian entrants, Afghan nationals, and Ukrainian humanitarian parolees.

China Has Taken Over Gold Price Control From the West

by Jan Nieuwenhuijs, Gold Seek:

China Is Leading the Dance in the Gold Market

Exceptional strong gold demand from both the Chinese central bank and private sector has been driving up the gold price over the past two years, by which they have taken over control over the gold price from the West. The People’s Bank of China (PBoC) bought a record 735 tonnes of gold in 2023, of which about two thirds were purchased covertly. In addition, the private sector net imported 1,411 tonnes in 2023, and a whopping 228 tonnes just in January of 2024. If the West joins the Chinese gold buying craze, in fear of rate cuts and currency debasement, it will be a perfect storm for gold.

How Putin’s Gold Strategy Defeated Sanctions

from Great Game India:

Putin’s gold strategy, implemented in early 2022 by tying the value of the ruble to gold, has successfully countered sanctions, aided by Russia’s status as the world’s second-largest producer of gold.

Russia is the target of more than 16,000 sanctions. Nonetheless, the Russian economy and military apparatus expanded by 3.6% in 2023 and is expected to do so again by 2.6% in 2024.

The Silver Bullet Against the Barbarian Invasions of the West: De-Dollarization of the International System

by Mauricio Metri, Strategic Culture:

On February 13, 2024, the United States Senate approved a U.S. $95 billion aid package for Ukraine, Taiwan, and Israel. According to IMF Data, this package represents a higher value than the international reserves of 165 countries. In other words, out of 194 countries with reserves recorded in dollars, only 29 have volumes more significant than the value of the U.S. Senate package. This fact gives an idea of the extravagance of this contribution.

This news, passed on almost ordinarily, reveals two important facts. First, one mentions the extraordinary and disproportionate financing and spending capacity of the United States, used, among other objectives, for the increasing armament of its allies on strategic boards, the promotion of proxy conflicts in regions marked by geopolitical fractures, and, from a longer perspective, the execution of an uninterrupted chronology of wars and military interventions since 1991. Furthermore, this financing and spending capacity also support a broad military structure of global reach with approximately 750 military bases outside its national territory [1].

CBDCs Not Needed – Existing Cryptocurrencies Already Programmable to Create a Worldwide Ledger for Total Surveillance and Control

by Brian Shilhavy, Health Impact News:

A year ago (March, 2023), I reported how the GOP was coming out in public to condemn Central Bank Digital Currencies (CBDC), a sure sign that this was a psyop to get the public upset and fearful over something while the financial system was planning on implementing the principles behind CBDCs without having to use CBDCs.

Why are U.S. Politicians Suddenly Opposing CBDCs?

Within the past 30 days or so, several U.S. politicians have come out publicly against Central Bank Digital Currencies.

Remember the Banking Crisis?

by Jim Rickards, Daily Reckoning:

Most of us recall the banking crisis of March to May 2023.

It began with the collapse of the little-known Silvergate Bank on March 8. This was followed the next day by the collapse of the much larger Silicon Valley Bank (SVB) on March 9. SVB had over $120 billion in uninsured deposits.

Bank deposits over $250,000 each are not covered by FDIC insurance. Those depositors stood to lose all their money over the insured amount. This would have led to the collapse of hundreds of startup tech businesses in Silicon Valley that had placed their working capital on deposit at SVB.

ANDY SCHECTMAN: SILVER RALLIED LAST WEEK AFTER BANKS INCREASED SHORTS AGAIN

from Arcadia Economics:

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

Peter Schiff Exposes the Weak Dollar and Financial System

by Kerry Lutz, Financial Survival Network:

In this enlightening discussion, Kerry Lutz teams up with renowned economist and investor Peter Schiff to dissect the current economic climate, government policies, and strategic investment approaches. They kick off by stressing the critical nature of employing multiple backup systems during recordings to preserve invaluable insights, sharing practical advice and specific tools that Schiff himself utilizes.

A House of Cards on Stilts

by Jim Rickards, Daily Reckoning:

What’s driving the current stock market frenzy? Is it a new bubble pure and simple? Is it driven by fundamentals? Does the Fed play an important role?

Let’s look at these factors and make a forecast of stock market index levels based on these and other inputs.

Trends in stock prices over the past year have largely been a function of market expectations about Fed rate cuts and market euphoria over strong economic data, including low unemployment rates.