by John Carney, Breitbart:
U.S. consumers faced higher prices for food in July, undermining Biden White House claims that inflation ran at zero in the month.
The Bureau of Labor Statistics Producer Price Index showed on Thursday that consumer food prices charged by U.S. producers rose two percent in July compared with the previous month. Compared with a year ago, consumer food prices are up 15.8 percent, the highest year-to-year rate of inflation since 1974.
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.
by Charles Hugh Smith, Of Two Minds:
Events may show that there are no winners, only survivors and those who failed to adapt.
Some recessions are brief, necessary cleansings in which extremes of leverage and speculation are unwound via painful defaults, reductions of risk and bear markets.
Some are reactions to exogenous shocks such as war or pandemic. The uncertainty triggers a mass reduction of risk which recedes once the worst is known and priced in.
Far less frequently, structural recessions are lengthy, tumultuous upheavals that can set the stage for excellent long-term expansion or unraveling and collapse. In these structural recessions, 10% to 20% of the workforce loses their jobs as entire sectors are obsoleted and jobs that depend on excesses of debt and speculation go away.
by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED DOWN $5.95 TO $1797.50//SILVER WAS DOWN $.46 TO $20.39//PLATINUM WAS UP $11.95 TO $959.95//PALLADIUM WAS UP 433.20 TO $2289.20//TWO MAJOR PLAYERS INSIDE JPM CONVICTED OF SPOOFING: SENTENCING NEXT YEAR//COVID UPDATES//VACCINE INJURY//VACCINE IMPACT//BRITS FACE A WORSENING COST OF LIVING CRISIS//JAPAN GOVERNMENT RESIGNS EN MASSE//USA JOBLESS NUMBERS INCREASE AGAIN AS THE USA ECONOMY FALTERS//ALSO PPI REMAINS STUBBORNLY HIGH
by Mish Shedlock, Mish Talk:
Food at home is up 13.1 percent annually. That’s the most since 13.9 percent in February of 1979.
CPI Year-Over-Year Details
by Riley Waggaman, Off Guardian:
That’s classified information, buddy.
On March 25, the Bank of Russia announced it would buy gold at a fixed price of 5,000 rubles per gram. Less than two weeks later, on April 7, Russia’s central bank canceled its new gold-buying policy, opting instead for a negotiated price (at a discount).
The logic behind this move, according to an excellent report by Interfax, is fairly straightforward: sanctions have made it difficult for commercial banks to export their gold to foreign markets. The Bank of Russia is taking advantage of this conundrum by offering to gobble up their gold—at a reduced price. Yes, it’s a bit stingy, but at least it keeps Russia’s gold miners and merchants in business, and it also ensures Russia’s gold stays inside the country. Everyone wins.
by Kelsey Williams, Silver Seek:
In 1972, a bag ($1000 face value) of “junk” US silver coins sold for approximately $1300-1350. The average closing price of silver that year was $1.68 oz; hence, the silver content (715 ounces) value was $1200 per bag. The remaining difference was a premium of about ten percent.
A lower silver price would generally result in higher percentage premiums because the face value of $1000 represented a ‘floor’ which limited the risk of holding the coins. In other words, the real investment risk was limited to the amount you paid over the $1000 face value.
A lower silver price would generally result in higher percentage premiums because the face value of $1000 represented a ‘floor’ which limited the risk of holding the coins. In other words, the real investment risk was limited to the amount you paid over the $1000 face value.
by Wolf Richter, Wolf Street:
Inflation in services is now where the action is, not commodities or durable goods.
Inflation as measured by the Consumer Price Index backed off a tad in July to a still ugly 8.5%, from the super-ugly 9.1% in June, as food prices continued to spike, but gasoline and natural gas prices fell sharply, and prices of durable goods backed off their crazy spike.
from ZeroHedge:
After a three-week trial and more than eight days of deliberations, Michael Nowak and Gregg Smith were found guilty Wednesday by a federal jury, convicted in Chicago on charges they manipulated markets for years.
A third defendant, Jeffrey Ruffo, who was a salesman on the bank’s precious-metals desk, was acquitted of charges he participated in the conspiracy.
by Michael Snyder, The Economic Collapse Blog:
Now they are trying to convince us that dramatically higher prices are good news. Are you kidding me? Our standard of living is being systematically destroyed, and more Americans are falling out of the middle class with each passing day. The government just announced that in July the consumer price index was 8.5 percent higher than it was the previous July. Of course many have challenged the value of the inflation numbers that the government is giving us because the way inflation is calculated has been changed many times over the years. As John Williams of shadowstats.com has pointed out, if the rate of inflation was still calculated the way that it was back in 1980 it would be far higher than anything that we experienced during the Jimmy Carter era of the 1970s. You can spin that any way that you want, but it is still a raging national crisis.
by Ethan Huff, Natural News:
The corporate-controlled media is warning that people everywhere are “catching” the Wuhan coronavirus (Covid-19) a second or even third time – even though most, if not all, of them are “fully vaccinated.”
They are calling it “long covid,” a term that has been in use for a while now to describe people who get and stay sick with “covid” for very long periods of time, despite obeying the government’s mask and jab guidelines.
Supposedly, the “omicron” (anagram for moronic) variant continues to mutate and spread among people who rolled up their sleeves for the injections, including “booster” shots that were supposed to be “safe and effective.”
from Jay Taylor Media:
TRUTH LIVES on at https://sgtreport.tv/
