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June 9, 2024: Today Marks The End Of The Petrodollar
Little By Little, The Economy Has Declined To A Point Where Almost Everyone Is Struggling
“HELP – I NEED SOMEBODY…”
It happened so gradually that a lot of people didn’t even realize what was happening. The cost of living just kept rising faster than paychecks were, and little by little our standard of living just kept going down. Now we have reached a stage where the ultra-wealthy are thriving but almost everyone else is struggling.
For most people, it is a real fight just to pay the bills from month to month. Continue reading
The Achilles Heel of the Fiat Money System
Achilles Heel, Fiat Dollar and Gold
The fiat money system will not disappear just like that. Any expectations or hopes to that end should be tempered. Yes, the fiat money system could collapse; yet there is a significant likelihood it will persist longer than most people might think. This prolonged existence may come at a cost: a fascist state encroachment on the freedoms of citizens and entrepreneurs would be more profound than most people realize. Continue reading
The US Consumer Is CRACKING
Illustration: Francis Scialabba
The Fed’s war on inflation is finally trickling down to the wider economy, and the evidence is beginning to show that many Americans are feeling the pain.
Today’s Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) report came in far cooler than expected — US job openings fell in April to the lowest level in over three years, illustrating a significant slowdown in the labor market. Available positions dropped to 8.06 million, a decrease from the 8.36 million openings in March.
Even with high inflation and rising interest rates, the labor market has remained strong over the past few years, boosting discretionary spending for consumer goods. But a second straight month of declines shows that Fed policy is finally reaching jobs. Continue reading
The Power of Gold in Times of Crisis
While physical gold is a well-known safe haven asset which investors flock to in times of market turbulence as a way of protecting their wealth, gold is also the ultimate asset to own and possess in times of crisis and emergency. These crisis situations can range from episodes in which fiat currencies collapse, to times in which gold buys safe passage across international borders, and even to periods in which only gold can bail out and rescue an entire nation. Sometimes gold even ensures self-survival and can literally be the difference between life and death. Continue reading
The Future for Fiat
The day of reckoning for unproductive credit is in sight. With G7 national finances spiraling out of control, debt traps are being sprung on all of them, with the sole exception of Germany.
No, No, No – not THAT kind!
Malinvestments of the last fifty years are being exposed by the rise in interest rates, increases which are driven by a combination of declining faith in the value of major currencies and contracting bank credit. The rise in interest rates is becoming unstoppable.
Do not be surprised to see a US Government deficit exceeding $3 trillion this fiscal year, half of which will be interest payments. And in the run up to a presidential election, there’s every sign of deficit spending increasing even further. Continue reading
House Votes to Block Federal Reserve From Creating Own Digital Currency
The House of Representatives on Thursday voted along bipartisan lines to advance legislation blocking the Federal Reserve from creating its own central bank digital currency (CBDC).
Three Democrats joined all Republicans in voting for the bill — moderate Reps. Jared Golden, D-Maine., Mary Peltola, D-Alaska, and Marie Gluesenkamp Perez, D-Wash.
The CBDC Anti-Surveillance State Act was led by House Majority Whip Tom Emmer, R-Minn., and backed by Republican members of the House Financial Services Committee. Continue reading
Rising Inflation Under Bidenomics Strains American Households
In the current economic climate, many Americans find themselves struggling to make ends meet, as the pressures of inflation bear down on everyday living expenses. Under the Biden administration, the economic policies known as “Bidenomics” have come under scrutiny as inflation rates surge, affecting the cost of essential goods and services. Continue reading
What Could a Dollar Buy You in the 1920s?
Even though inflation is a hot topic these days, it’s been around forever. Not all prices rise at the same rate, though, so it’s fun to see what prices were like generations ago.
By looking at prices from way back when, it’s easy to see how the cost of living has changed. Here’s what you could buy with a dollar in the 1920s. Continue reading
Tens Of Millions Of Americans Are “Trapped” In An Endless Cycle Of Debt That Is Sucking The Life Out Of Them Financially
Did you know that U.S. households are 17,690,000,000,000 dollars in debt? Of course household debt is only one part of a much larger story. The federal government is 34 trillion dollars in debt, state and local governments are absolutely drowning in debt and unfunded liabilities, and corporate debt is at an all-time high. As a society, we are on the greatest debt binge in the history of the world, and it just gets worse every single year. Continue reading
