by Simon Black, Sovereign Man:
In the early summer of 1514, Spanish conquistador Ponce de Leon returned home to the court of King Ferdinand as a hero.
De Leon was among the first of Spain’s conquistadors to discover gold– right here in Puerto Rico. And that was enough for him to be knighted and bestowed all sorts of royal honors.
By that time, Europe had been suffering a shortage of gold and silver for nearly a century; mines and mints had closed down all across the continent, triggering what economic historians call ‘The Great Bullion Famine’ in the mid 1400s.
Losses will be taken and sacrifices enforced on those who don’t understand the Chinese state will no longer absorb the losses of speculative excess.
The Fed is getting nervous about inflation. “Temporary” doesn’t cut it anymore. And the bond market is getting a whiff of it.
Reverse repos, effectively a QE drain, hit new record levels even as the QE madness continues.
It’s being touted as “climate action in your pocket”, and the Doconomy site says “Our non-plastic, biodegradable DO card tracks the CO2 emissions generated from our transactions and then displays that data through a simple app.” The site goes on to say that this is a partnership not only with credit giant Mastercard but under the authority of the United Nations as well. Then they drop the ‘other shoe’ as the old saying goes. Your credit gets cut off when you reach your ‘carbon limit’. To effectively reduce the climate crisis, we have to make behavioural changes with high impact. DO Black is a, not yet launched, credit card that helps us calculate our climate spending, but it also comes with a monthly tCO2e limit, ensuring that we stick to the UN-2030-recommended cuts in carbon.
