by Peter Schiff, Schiff Gold:
Gold started July delivery with 937 contract outstanding. This is the lowest level since November of last year and the second-lowest since the start of Covid (see figure 2).
As the chart below shows, about 82% of those contracts have been delivered in the first two days. At the current pace, this will be the weakest minor month delivery volume since at least 2019.
by Brandon Turbeville, Activist Post:
Who controls the food supply controls the people. Who controls the energy can control whole continues. Who controls money can control the whole world. – Henry Kissinger
Around 1868, the Indian Wars had briefly paused and the soon to be butchered treaties remained in force. However, the US Federal government and private interests were well aware that the “Indian Question” and “problem of the savages” was still unanswered. In other words, the “problem of the savages” was that the savages still existed. Those “savages” had been beaten back for years by the US regular army but they were not completely vanquished. In fact, despite being outmanned and outgunned and with little to no competition for the advancements in weaponry of the US Army, the Native Americans routinely routed the American military, at times slaughtering whole detachments.
by Chris Menahan, Information Liberation:
American families must continue to suffer under record gas prices because “the future of the Liberal World Order” is on the line in Ukraine, according to the White House.
“What do you say to those families that say, listen, we can’t afford to pay $4.85 a gallon for months, if not years?” a CNN host asked Biden advisor Brian Deese on Thursday.
“This is about the future of the Liberal World Order and we have to stand firm,” Deese responded.
by Alasdair Macleod, GoldMoney:
Gold and silver fell sharply this week into the half-year end, as recession scares mount. This morning, in early European trade gold was $1796, down $36 from last Friday’s close, and silver was $19.80, down $1.25. Gold is now slightly below last year’s closing level, and silver is down 15%.
The wider commodity complex also sold down as markets are readjusting their expectations from outright inflationary conditions to growing evidence of a global recession. This is reflected in the chart of a broad-based commodity ETF.
from ZeroHedge:
After threatening to do so for a couple months now, Russia has pulled the trigger on expanding the list of commodities for which it demands payment in rubles to now include grain exports, effective Friday per a government legal website.
So now grain, sunflower oil and extracted meal are the next to follow the March decision to charge clients from “unfriendly” countries – including major customers in Europe – in rubles for natural gas instead of the normative dollars and euros.
On top of this move, recently Agriculture Dmitry Patrushev announced that Russia’s agricultural products will go to “friendly countries” only, and according to “who needs it most” – a hugely significant statement sure to continue sowing uncertainty and chaos for the global food supply.
from The Conservative Treehouse:
It’s not a secret that billionaire Bill Gates wants to radically change the process and outcome of farming, agriculture and ultimately food humans consume, in order to follow his climate change ambitions. Bill Gates has been advocating for the removal of cows, pigs and animal-based protein for multiple years. This is not a revelation.
However, what is new, is the amount of farmland that Bill Gates is purchasing. Why would an entrenched climate change ideologue who wants to change food production be purchasing over a quarter million acres of prime farmland?
by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED DOWN $5.45 TO $1801.50//SILVER CLOSED DOWN 61 CENTS TO $19.74//PLATINUM DOWN $15.70 TO $888.90//PALLADIUM UP $31.80 TO $1962.05//COVID UPDATES/VACCINE IMPACT//4 MAJOR COMMENTARIES THAT ARE MUST READ FOR TODAY; TOM LUONGO ON THE RUSSIAN UKRAINE-NATO WAR//MICHAEL SNYDER ON THE POTENTIAL COLLAPSE OF EUROPE//BILL BLAIN AND MICHAEL EVERY ON THE MAJOR EVENTS OF THE WEEK
by Mish Shedlock, Mish Talk:
The GDPNow forecast plunged from +0.7 percent to -1.0 percent today. It’s ugly but not as bad as it looks, at least yet.
The Atlanta Fed GDPNow Model forecast took yet another dive today.
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is -1.0 percent on June 30, down from 0.3 percent on June 27. After recent releases from the US Bureau of Economic Analysis and the US Census Bureau, the nowcasts of second-quarter real personal consumption expenditures growth and real gross private domestic investment growth decreased from 2.7 percent and -8.1 percent, respectively, to 1.7 percent and -13.2 percent, respectively, while the nowcast of the contribution of the change in real net exports to second-quarter GDP growth increased from -0.11 percentage points to 0.35 percentage points.
by Peter Schiff, Schiff Gold:
The Reserve Bank of Zimbabwe plans to issue gold coins as a way for investors in the country to store value as inflation runs rampant in the economy.
The United States isn’t the only country battling rapidly rising prices. The inflation rate in Zimbabwe spiked from 132% in May to 191.6% in June, and the Zimbabwean currency is quickly devaluing against other global currencies, particularly the US dollar.
by Joe Hoft, The Gateway Pundit:
A key Fed Indicator just turned negative indicating what TGP has warned about for months. The US in officially in a recession.
TGP has for months warned that the Biden economy is facing a recession. Now it has finally landed.
by Ryan McMaken, Mises Institute:
Last year, just as it was becoming increasingly clear that price inflation was mounting, Jerome Powell repeatedly denied there was any reason for concern. He called inflation “transitory.” A few months later, he admitted it was not transitory, but denied it was “entrenched.” Then, by late 2021, he admitted price inflation was getting out of control but still took no action of any consequence. Through it all, the Powell plan was repeated delay and opposition to any lessening of the Fed’s established policy of ramming down interest rates again and again.
from Technocracy News:
Egged on by eco-activists, the highest court in the Netherlands ordered the government to comply with an EU law to reduce the inert gas nitrogen in vulnerable areas. That would mean culling 30% of its livestock. One farming organization called the plans ‘disgusting’.
