12.07.22- The Bubble Economy's Credit-Asset Death Spiral
Charles Hugh Smith

Who believed that central banks' financial perpetual motion machine was anything more than trickery designed to generate phantom wealth?  

Central banks seem to have perfected the ideal financial perpetual motion machine: as credit expands, money pours into risk assets, which shoot higher under the pressure of expanding demand for assets that yield either hefty returns (junk bonds) or hefty capital gains as the soaring assets suck in more capital chasing returns. Read More

12.06.22- In the End, the Dollar Goes to Zero and the US Defaults
Egon von Greyerz

With US and Global debt exploding prior to both assets and debt imploding, let us look at the disastrous consequences for the US and the world.

Debt explosion leading to the currency becoming worthless has happened in history for as long as there has been some form of money whether we talk about 3rd century Rome, 18th century France or 20th century Weimar Republic and many many more. Read More

12.05.22- Why the Fed is wrong about inflation coming down
Richard (Rick) Mills

The US Federal Reserve continues to grapple with inflation, which at 7.7% (October CPI) is more than triple the Fed’s 2% target, without causing a recession by lifting interest rates too high.

The Fed has two options when it comes to interest rate increases designed to tackle the highest US inflation since the early 1980s. The first is it continues to hike rates, beyond what the economy can handle, causing a recession, usually defined as two consecutive quarters of negative economic growth. This is the “Volcker Fed” playbook. Read More

12.03.22- Why the Media Is Desperately Hiding the Truth About the Economy
Peter Reagan

A classic sign of late-stage speculative bubbles is sentiment-based market action, instead of an approach based on fundamentals.

Market sentiment is a fairly simple concept:

the feeling or tone of a market, or its crowd psychology, as revealed through the activity and price movement of the securities traded in that market. In broad terms, rising prices indicate bullish market sentiment, while falling prices indicate bearish market sentiment. Read More

12.02.22- The Fed Is Not "a Good Idea that Became Corrupt": It Always Was Corrupt
George Ford Smith

There’s an idea rooted among some libertarians that the Federal Reserve was originally a sound institution but has grown corrupt. As a bankers’ bank, it was fine, they believe, but not as the monster it has grown to be. If we could only go back to the Fed’s founding charter, all would be well. Read More

12.01.22- Gold jumps 1% as Fed's Powell says smaller rate hikes on the way
Seher Dareen


(Reuters) - Gold prices rose over 1% on Wednesday as the non-yielding asset races to end its best month since mid-2020 on slower U.S. rate hike expectations, further reinforced by Federal Reserve Chair Jerome Powell’s comments.

The Fed could scale back the pace of its interest rate hikes “as soon as December,” Powell said on Wednesday, while warning the fight against inflation was far from over.

Spot gold rose 1% to $1,767.52 per ounce by 3:03 p.m. ET (2003 GMT). U.S. gold futures settled 0.2% lower at $1,759.9. Read More

11.30.22- The Economy is Not Strong
Karl Denninger 

Oh look at the lie that is trivially discernible if you read the article.

Discount-hunting shoppers snapped up more Pokemon cards, TVs and air fryers on Cyber Monday, pushing sales to $11.3 billion, making it the biggest U.S. online shopping day in history, according to data from Adobe Analytics.

Sales, not adjusted for inflation, rose 5.8% from a year ago, per data from Adobe Analytics,....

Why is the "biggest online shopping day in history" a lie? Read More

11.29.22- Federal Reserve set to introduce privacy-crushing digital currency that can be ‘controlled’ and ‘programmed’ by government bureaucrats
JD Heyes

When Barack Obama was in the White House and Democrats controlled Congress for his first two years in office, they passed a bill dubbed “Obamacare” that was the first step toward giving federal government bureaucrats complete control over Americans’ health care.

Since all Americans require medical care during their lives, the move was seen by critics as the ultimate authoritarian move; after all, if the government controls all healthcare decisions, tyrannical government bureaucrats could then begin to dictate behaviors and reward or punish people based on behavior. Read More

11.28.22- Derivatives Time Bomb -
Is **YOUR** Bank on this list?

Hal Turner

For years there has been much talk about how "Derivatives" are a gigantic problem, and if Derivatives Markets collapse, it is the end of the financial world as we know it.  We looked at Bank exposure to "Derivatives" and below is a list that will likely frighten you.  US Banks are on the hook for two Quadrillion dollars, in "Derivatives."  Is **YOUR** bank on this list?   If it is, ask yourself "If they LOST all this money, would MY money still be safe in this bank?" Act accordingly. Read More

11.26.22- The Richest Man in the World
Larry Romanoff

The purpose of this essay is threefold: (1) to bring to the attention of readers the existence of a long-standing conspiracy about the identification of “The Richest Man in the World”, (2) to dismiss from contention the current list of candidates, and (3) to document that a small number of Jewish banking families operating out of the City of London have for generations held these wealth records with fortunes that are orders of magnitude above anything we might have imagined. I will address these points in reverse order, and deal with the current crop of wunderkind at the end. Read More

11.25.22- An Economic Candle Burning
From Both Ends

Jeffrey Tucker

Some facts of our times follow. As you read, consider your own household and portfolios and how they measure up.

Disposable personal income per capita has been in decline in real terms for 19 straight months. This is not just dollar amounts but dollars adjusted for purchasing power. We are just now level with 2019, which is to say that Americans have lost three years of financial progress. Read More

11.24.22- And Now, for Something Entirely Different: When Woke Students Ruined Their University 800 Years Ago
Simon Black

In April of 1155 AD, after a successful invasion of northern Italy in which his army vanquished city after city, the legendary ruler Frederick Barbarossa received yet another crown upon his head.

Barbarossa was already King of Burgundy, King of Germany, AND Holy Roman Emperor. But on top of all of those titles, he was then proclaimed King of Italy. Read More

11.23.22- Gold subdued as traders strap in
for Fed minutes

Reuters

Gold sat near flat on Wednesday with most investors on the sidelines ahead of minutes from the U.S. Federal Reserve’s November policy meeting that could offer hints on its tightening path.

Spot gold was near flat at $1,739.99 per ounce, while U.S. gold futures were up 0.1% at $1,741.20. Read More

11.22.22- And Now, for Something Entirely Different: The Solemn Stillness Before Winter
James Howard Kunstler

“Ultimately, the Democratic Party is a criminal organization; and to support it is to be a criminal. And since it is the ruling party, unless you oppose it, you support it.” —Curtis Yarvin, The Gray Mirror

Here in New England now, the landscape is putting itself to bed, preparing for winter’s long sleep. The grass in the cow pastures never looks greener than in contrast to the barren trees, but that lingering color, too, will soon fade. We did not get smacked here by the deep snows of far-off Buffalo, not a flake, so a sweetly solemn stillness settles over these tender hills as we give vague thanks at Thursday’s gala of gluttony, certain to induce terrors of indigestion in the restless night to come. Read More

11.21.22- You're Living In A World Wrought By The Federal Reserve. Notice Anything Wrong?
Lynn Parramore

In her new book, veteran Wall Street watcher and economist Nomi Prins warns that central bank strategies deployed since the financial crisis are destroying the real economy, worsening inequality, and creating societal chaos.

Ever wonder why it is that for most of the 21st century, no matter who is in the White House, no matter the state of the economy, and regardless of what ordinary people are suffering, money travels inexorably to the top? Read More

11.19.22- Jim Rickards Was Right
Jim Rickards

I’ve been warning about a central bank digital currency (CBDC) for a long time — or as I like to call it, “Biden Bucks.”

That’s because Biden fast-tracked its development. He’s been responsible for implementing CBDCs at a very quick tempo in the U.S.

They could actually end up as his most enduring legacy, believe it or not.

“Respectable” economists and financial commentators derided me as a conspiracy theorist and kook for talking about it.. Read More

11.18.22- In the Red: The Federal Reserve’s Portfolio Joins the Rest of the Market
Joseph Solis-Mullen

The Federal Reserve is on pace to lose somewhere in the neighborhood of $100 billion over the next year to eighteen months, as the yield on its portfolio of Treasurys and mortgage-backed securities is now being surpassed by the interest it pays banks to hold reserves in their accounts at the Federal Reserve (this practice began in response to the 2007–08 financial crisis as an enhanced means of controlling liquidity). For the past decade, the Federal Reserve’s ultralow interest rate policies meant it could hoover up plenty of debt, to the tune of $8 trillion, and still send a reasonable return to the Treasury at the end of each fiscal year. Read More

11.17.22- How Inflation Destroys Civilization… and What You Can Do About It
Doug Casey

International Man: According to a recent Newsweek poll, 63% of Americans “strongly support” new government stimulus checks to combat inflation.

In other words, let’s fight the effects of money printing by doing even more money printing.

What’s your take on this?

Doug Casey: The nature of the US has been transformed. Americans have come to see the government as a cornucopia that can kiss everything and make it better—especially since the bailouts of the Biden Administration. Read More

11.16.22- How Long Will It Take the Fed to Lower the CPI to 2%? Three Questions with Troubling Answers
Jeff Clark

Fed Chair Jerome Powell has been insistent that the central bank will lower inflation to 2%.

“We are resolute in our goal to fight inflation… we have the tools to bring it down to 2%” are just some of the public comments coming from his office.

Should we believe him? After all, he said last year that inflation would be transitory, interest rates wouldn’t rise until 2024, and a recession is “unlikely” (virtually guaranteed now). Read More

11.15.22- Maybe the Fed Too Was Trolled
Jeffrey Tucker

The Federal Reserve – and central banks the world over – played a crucial role in making lockdowns possible and weaponizing the panic of politicians. As the lender of last resort and the provider of liquidity for the entire federal government, it removes normal fiscal restraint. It writes checks that cannot bounce to fuel governments in normal times but is always ready to make possible emergency spending too even if existing revenue and public consensus is otherwise absent.  Read More

11.14.22- The End of World Dollar Hegemony: Turning the USA into Weimar Germany
Patrick Barron

In a recent essay, I explained how over time the US abused its responsibility to control the supply of dollars, the world’s premier reserve currency for settling international trade accounts among nations. This abrogation of its duties is leading to the likely adoption of a new reserve currency, commodity based and controlled not by one nation but by members, all watchful that the currency is not inflated. Read More

11.12.22- An Incompetent Federal Reserve Board Caused the Great Depression and the New Deal that Gave Congress’ Power to New Executive Branch Regulatory Agencies
Paul Craig Roberts

An Incompetent Federal Reserve Board Caused the Great Depression and the New Deal that Gave Congress’ Power to New Executive Branch Regulatory Agencies. The 1930s saw the Great Depression used to vitiate legislative power and put it into the hands of executive branch agencies.  It was a major step in destroying the accountability of government.  Read More

11.11.22- Fed Pivot Will Be No Cure For Stock Market's Ills
Tyler Durden

The longed-for Fed pivot may come quicker than expected -- especially after this week’s very soft inflation data -- but equities still face more downside if hopes for easier monetary conditions clash with the rising risk of a recession.

The Fed’s battle with inflation this year has pitched the stock market into one its most bearish cycles in decades. The expectation -- or hope -- is that once the Fed takes its foot off the brake, stocks will cast off their shackles and new a bull market will take flight. Read More

11.10.22- Kevin O’Leary on Inflation: You Printed $7 Trillion in 30 Months.
What Did you Think Would Happen?

Jon Miltimore

Americans are facing 40-year high inflation and there’s been no shortage of discussion on the topic. It’s the number one issue on the mind of Americans heading into midterms, and every day on TV and in newspapers pundits are debating how long it will last and deciding who is to blame.

What’s most astonishing amid the flurry of news is just how badly the commentary misses. While there is broad agreement that the US is experiencing dangerously high inflation, partisanship and ideology have polluted basic economics. Read More

11.10.22- Kevin O’Leary on Inflation: You Printed $7 Trillion in 30 Months.
What Did you Think Would Happen?

Jon Miltimore

Americans are facing 40-year high inflation and there’s been no shortage of discussion on the topic. It’s the number one issue on the mind of Americans heading into midterms, and every day on TV and in newspapers pundits are debating how long it will last and deciding who is to blame.

What’s most astonishing amid the flurry of news is just how badly the commentary misses. While there is broad agreement that the US is experiencing dangerously high inflation, partisanship and ideology have polluted basic economics. Read More

11.09.22- What’s Behind the Central Bank
Gold Buying Boom?

Peter Reagan

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Central bank gold purchases mysteriously skyrocket to 55-year highs, India’s silver demand is bigger than ever and Perth Mint’s gold sales hit a new record.

Central banks buying gold at a pace unseen in half a century

Central banks bought a staggering 400 tons of gold last quarter – and they used dollars to do it. As Bloomberg informs us: Read More

11.08.22- A Hawkish Pivot
Michael Pento

This latest bear-market bounce was predicated on good seasonality, the hopes for a typical mid-term election boost, and the rumors of a Fed pivot. 

Wall Street always finds a narrative for rallies in a bear market. But the negative economic and liquidity cycles remain unchanged: The Fed is hiking rates into a recession. Powell may have done his last 75bp rate hike on November 2nd. But another 50bp hike is likely coming in December, and then the regular 25bp variety is coming in February. Meanwhile, $95 billion per month of Quantitative Tightening is rapidly destroying the money supply. Read More

11.07.22- When Will the Fed Drive the Economy to Its Breaking Point?
Nomi Prins

The Fed has a mandate from Congress since the late 1970s to keep the economy going. Since such a mandate is contrary to the way the world really works, the only way the Fed can keep the economy going for a really long time is to keep pumping ever more money into it.

That is what the Fed has been doing. Nomi Prins talks about “reckless monetary policy. And for that, we can thank Alan Greenspan, Bernanke’s predecessor at the Fed.” Read More

11.05.22- Look Out Below!
James G. Rickards

Just as I predicted, the Fed raised the fed funds target rate (also called the policy rate) today by 0.75%.

The new target rate is a range of 3.75–4.00%, the highest since 2008. This is the sixth rate hike this year and the fourth consecutive 0.75% rate hike.

That’s the steepest, fastest series of Fed rate hikes since the Paul Volcker days in the early 1980s. Read More

11.04.22- The Great Unwind II
Alasdair Macleod

With price inflation rising out of control and interest rates rising strongly, the trading environment for commercial banks has fundamentally changed. With bad debts looming and bond prices in entrenched downtrends, procrastination is now the enemy of bankers.

We are at the beginning of The Great Unwind, and this article elaborates on my first article for Goldmoney on the subject published hereRead More

11.03.22- The Era Of All-Powerful Central Banks Is Over
Charles Hugh Smith

Central bank gaming of Finance is the source of instability.

The era of all-powerful central banks is over for a simple reason: they failed: they failed their citizens, their nations, and they failed the world.

Their policies have pushed wealth and income inequality to extremes that have destabilized the planet's social, political, economic and environmental spheres. Read More

11.02.22- The Mainstream Is Increasingly Accepting The Possibility That The Fed Will Blow Up The Economy
Tyler Durden

Not more than a year ago it was generally thought impossible among mainstream economists and retail investors that the Federal Reserve would commit to raising interest rates and ending stimulus.  After 14 years of predictable QE and near zero rates, it's not surprising that they would refuse to acknowledge the possibility that the Fed would abandon them.  Well, as with the seasons, all things must change. Read More

11.01.22- Peak Fed Hawkishness Means Sustainable Rally Is Still A Way Off
Simon White

Stocks will be stuck in a bear market for several more months even with a peak in Fed hawkishness.

Peak global inflation is likely here, allowing global central banks, including the Fed, to begin a gradual tempering of their hawkishness. The Fed will announce Wednesday the outcome of its rate-setting meeting, with a 75 bps hike expected. (To be clear, even while global inflation may have peaked, there are likely still several countries that will see another inflation peak later in this cycle.) Read More

10.31.22- Why the Fed’s Pivot
Will Begin This Winter

Nomi Prins

If you follow the mainstream media, you likely saw the headlines last week…

“Traders Raise Chances for a Lower Fed Rate Hike in December”  – CNBC

“The Federal Reserve Pivot Is Coming in December” – Investor’s Business Daily

“Fed Set to Raise Rates by 0.75 Point and Debate Size of Future Hikes” – The Wall Street Journal Read More

10.29.22- Fed Folds With Pivot, Gold Will Gain In Value As Dollar Loses
Peter Schiff

View Video

10.28.22- And Now, for Something Entirely Different: The Coming Move to $50 Silver
(and beyond)

Ted Butler

Twice over the past 42 years, the price of silver has risen to $50; once back in 1980 and again 11 years ago, in 2011.  Obviously, no one would argue that something that occurred twice already is not capable of happening again. On both prior silver price peaks, prices then fell sharply and quickly. But the next coming move to $50 in silver is much more likely to not only exceed the past two highs, but also remain far higher for far longer than previously. Read More

10.27.22- The 'Experts' Were Never Going To Fix Inflation
Veronique de Rugy

The idea that the Fed has the knowledge necessary to control the economy with perfectly calibrated policies was always an illusion.

Debate now rages about whether the Federal Reserve should continue to raise interest rates to tame inflation or slow down these hikes and see what happens. This is not the first debate we've had recently about inflation and Fed actions. The lesson we should learn, and I fear we won't, is that government officials and those advising them from inside or outside the government don't know as much as they claim to about the interventions they design to control the economy. Read More

10.26.22- The Fed’s Critical Leak to the Mainstream Press
James Rickards

The Fed will raise interest rates 0.75% at the end of its next FOMC policy meeting on Nov. 2.

That’s not an official announcement, but it might as well be because it came from the Fed’s unofficial official source. If that sounds confusing, please allow us to explain…

The Fed never announces its rate policy decisions in advance. These are announced in the form of a press release and statement distributed at precisely 2:00 p.m. ET on the second day of each Federal Open Market Committee (FOMC) meeting. Read More

10.25.22- "There Is Too Much Debt In The World, So They Must Inflate It Away, Which They Will. That's The Only Thing You Need To Know"
Eric Peters

“Investors are beginning to come to terms with the fact that many things they believed to be true are myths,” said Sasquatch, his already enormous market footprint having deepened markedly post-pandemic. “They assumed the 60/40 portfolio was robust, and sometimes it is, but other times it is not,” he said, winding our way through the streets of London, crooked, cracked cobblestones in his footsteps. “They assumed inflation would remain low forever, expectations too. That TIPS hedge inflation. Tech outperforms. It turns out these things are not always true.” Read More

10.24.22- Hey Mr. Carstens:
Go Cashless, Lose Money

Joseph P Farrell

Bank of International Settlements chief Augustin Carstens, the man with more chins than China, has been fearlessly advocating – in between sessions of rotundity – for a cashless society and a system of central bank digital currencies.

Now I do not need to rehearse for this website’s readership why I think this whole cashless scheme to be a lousy idea that only globalooney banksters could love. If you think the cancel culture of Paypal and JP Morgan Chase is over the top, wait until they succeed (which, incidentally, I don’t think they will) in getting rid of cash altogether. Read More

10.22.22- Applying Volcker's Lessons
Alex J. Pollock

The year 2022 has certainly been a tough one for the Federal Reserve. The Fed missed the emergence of the runaway inflation it helped create and continued for far too long to pump up the housing bubble and other asset price inflation. It manipulated short- and long-term interest rates, keeping them too low for too long. Now, confronted with obviously unacceptable inflation, it is belatedly correcting its mistake, a necessity that is already imposing a lot of financial pain.  Read More

10.21.22- The Fed Actually Reveals the Way its Own Delusional Thinking Works,
and Why That Assures a Worse Crash!

David Haggith

I just came across an internal Fed staff document that shows what a mess their minds are. When you see how seriously they are misunderstanding this economy and the causes of inflation and how they are going to fight that inflation like Don Quixote jousting at windmills, you’ll realize there is no way they find a path of out of this that they are not going to make worse for us all. Read More

10.20.22- When Ignorance Is a Central Banker's Only Defence
Stephen Flood

“Power tends to corrupt, and absolute power corrupts absolutely”

The 19th century British politician Lord Acton coined the phrase, but the idea was not new to him. The idea was aimed at monarchies that all power is given to, or as was generally the case, power taken by monarchies.  

In today’s advanced economies this phrase could now apply to central bankers. U.S. Federal Reserve Atlanta President Raphael Bostic is the latest of high-ranking Fed officials to say that his personal investing activities broke ethics rules. Let’s not forget that those rules exist to prevent the kings of central banking from unfairly serving themselves ahead of their duty to us. Read More

10.19.22- The Fed, Gold & Silver
Nick Barisheff

View Video

10.18.22- The Fed’s Great Inflation Conundrum
James Rickards

The stock market was up big today, but it was nothing compared to last Thursday’s huge rally. In fact, last Thursday was one of the wildest days of trading in the history of Wall Street.

But don’t mistake that for the return of good times. It simply serves as a good example of just how volatile markets are these days — and the power of narratives to challenge fundamental analysis.

In other words, there’s a lot less there than meets the eye. Let’s break it all down… Read More

10.17.22- And Now, for Something Entirely Different: We Blew It
Charles Hugh Smith

We blew it. That’s right, we blew it. What do I mean?

Rather than investing in a sustainable mix of energy and in increasing the productivity of labor and industrial processes, we squandered irreplaceable oceans of capital and credit in oh-so profitable skims and scams such as $10 trillion in stock buybacks and completely unproductive speculative absurdities. Read More

10.15.22- And Now, for Something Entirely Different: Can We Ever Trust The Medical Establishment Again?
Chuck Baldwin

Historically, the offices of physician and pastor have been among the most trusted and respected of all callings. However, the Covid scamdemic of the past two years showed us that the vast majority of physicians and pastors were all too willing to abandon their callings and to transform themselves into sheepish slaves of the state—with no mind or will of their own. Had physicians and pastors stood together as one against what is the biggest hoax in world history, the massive damage that we are still experiencing—and will continue to experience for many years to come—would have never happened. Read More

10.14.22- Who Caused the INFLATION
Hurting Your Life?

Mike Maloney

View Video

10.13.22- Thanks To The Fed, You'll Work More This Year To Keep Last Year's Standard Of Living
Ryan McMaken

According to the establishment survey of employment, released last week by the Bureau of Labor Statistics, total employment increased, month-over-month by 263,000 jobs. The "job market stays strong" reads one CNBC headline, and the new jobs print was hailed as a great achievement of the Biden Administration by MSNBC pundit Steve Benen. Read More

10.12.22- Something Big Has Already Broken: Price Stability
Wolf Richter

The Fed will tighten “Until Something Breaks?” Wait a minute…

There is a lot of tongue-wagging on Wall Street and in the financial media to the effect that the Federal Reserve will tighten – meaning hike rates and shed assets – until something breaks.

But that’s kind of funny when you think about it. Because the biggest thing that the Federal Reserve is in charge of, the most crucial thing that underlies a healthy economy and a healthy labor market has already broken: price stability. Read More

10.11.22- Currency Reset
Doug Casey

View Video

10.10.22- The Fed's Real Mandate
Mark Thronton

The Federal Reserve has a legal dual mandate to minimize unemployment and price inflation. The current “dual” between the two mandates is to reduce price inflation by increasing interest rates to increase unemployment and kill businesses to choke off aggregate demand. This has been the most important economic and investment issue this year and this dual minimization procedure has dominated Fed policy for at least three-quarters of a century.

This is odd given that the Fed is in the business of creating money, the cause of price inflation, and it is responsible for all the largest surges in unemployment since its founding in 1913. Employing an army of monetary economists, macro theorists, and statisticians, the Fed appears to be pursuing its quixotic quest of the Phillips curve sweet spot of minimizing inflation and unemployment. Read More

10.08.22- American Families Drowning in Debt Cannot Survive What’s Next
Peter Reagan

Right on the heels of a major market correction in late 2018, and the “pandemic year” crisis in late February 2020, comes the current U.S. economic situation.

In fact, this crisis could end up being recorded in history books thanks mainly to historic inflation and trillions of retirement dollarsevaporating from the markets in just 6 months. Read More

10.07.22- The Fed’s Big Lie
Nomi Prins

Central banks’ extreme reaction to the 2008 financial crisis and what’s unfolded since then never had an exit plan.

Injecting money into the markets whenever a pick-me-up is needed became the norm, not an emergency response.

In the wake of the 2008 financial crisis, the goal of QE [quantitative easing] was to lift the money supply within the financial system and reduce medium- and long-term interest rates. Read More

10.06.22- Markets Are Expecting
the Federal Reserve to Save Them –
It’s Not Going to Happen

Brandon Smith

I have said it many times in the past but I’ll say it here again: Stock markets are a trailing indicator of economic health, not a leading indicator. Rising stock prices are not a signal of future economic stability. When stocks fall, it’s usually after years of declines in other sectors of the financial system.

Collapsing stocks are not the “cause” of the crisis, they are just the delayed symptom of a crisis that was already there. Read More

10.05.22- Don't Count On More QE Stimulus, The Fed Is Likely Retiring It
Adam Taggart

We’re at a dangerous and pivotal moment when the central bank tightening gets ever closer to possibly triggering serious financial instability. The desperate bond market rescue by the BoE last week is a good example of this.

The Fed realizes that it’s ‘behind the curve’ and now is playing for its very credibility (as Alf Peccatiello has said) and Pedro believes it’s more resolute than the market realizes to doing ‘whatever it takes’ to tame inflation. That means job losses, recession & failure of weaker businesses are acceptable “collateral damage” in its pursuit. Read More

10.04.22- From Useful Idiots To Useless Idiots
Michael Every

As bullets fly, if you are someone who only responds to bullet points, try these two:

  1. We may be on the verge of a replay of 2008 – but we can’t use the same central bank policy responses without creating massive inflation, global Arab Springs, and global chaos.

  2. It took a special kind of thinking to get us into this mess, and an equally special kind of thinking is not helping extract us from it. Read More

10.01.22- “The Impact Has Already Been Catastrophic. This Crash, Don’t Look For Central Banks To Save Us”
Eric Peters

“What will it take for the Fed to pause?” I asked, early morning, screens aglow, the smell of impending policy-maker panic drifting across our trading floor like freshly brewed coffee. We were discussing relentless dollar strength, what it means, where it leads. “It’s harder to answer in this cycle, because I don’t really think that dollar strength is specifically because of the Fed, at least not completely,” said Lindsay Politi, our inflation-strategies portfolio-manager, brilliant. “It’s the logical consequence of the QE bubble bursting. Fed tightening is part of it, sure, but it’s not like when the Fed pauses all the root cause of the problems will go away.” Read More

10.01.22- Bank of England Pivots First,
Fed to Follow

Peter Schiff

View Video

09.30.22- The Four Horesmen Of The Apocalypse On The March
Jimm Quinn

“The least-bad scenario is a hard landing, global recession worse than the 1930s. The worst-case borrows from the Four Horsemen of the Apocalypse: war, famine, pestilence, and death.” – Kenneth S. Deffeyes

“When hopes and dreams are loose in the streets, it is well for the timid to lock doors, shutter windows and lie low until the wrath has passed. For there is often a monstrous incongruity between the hopes, however noble and tender, and the action which follows them. It is as if ivied maidens and garlanded youths were to herald the four horsemen of the apocalypse.” – Eric Hoffer Read More

09.29.22- And Now, for Something Entirely Different: Germany Believes High Explosive Devices Equivalent To "500 Kilograms Of TNT" Used To Destroy Nord Stream
Tyler Durden

German newspaper Der Spiegel reported that German security officials believe "highly effective explosive devices" were used to blow up the Nord Stream pipelines in the Baltic Sea. 

According to SPIEGEL information, it was calculated thatexplosive devices with an effect comparable to that of 500 kilograms of TNT must have been used to destroy the tubes. The seismic signals registered by various measuring stations were also included in the estimate. Read More

09.28.22- This Financial Crisis Will Be 10x Worse Than 2008
Chris Martenson

The financial crisis now breaking will be ten times worse than 2008. It will need its own name, perhaps the Extremely Great Financial Crisis.

Stocks, bonds, commodities, real estate, mortgages, corporate financial outlooks…are all tanking. The dollar is spiking. Layoffs are growing. Markets are imploding. What is going on? Read More

09.27.22- Federal Reserve Playing Chicken with Financial Markets
Monty Pelerin

The game of chicken, learned by most teenagers, provides a reasonable description of current financial market conditions.  The Federal Reserve is playing chicken with financial markets.

Usually the game of chicken determines a winner by whomever “blinks” first.  In this case, there can be no winner, at least long-term.  In order for the Fed to win, it must crash markets.  In order for markets to win, they must call the Fed’s bluff. Read More

09.26.22- Fed Up With the Fed
Robert E. Wright


The Federal Reserve (“the Fed”) began operations in 1914. Thus, many find it difficult to fathom an America without it. Yet as it conducts its own major framework review, everyone, including the Federal Reserve itself, knows that the Fed is unnecessary. Congress could abolish the institution and restore monetary matters to the free market. 

But should we end the Fed? In a word, yes. What would replace it? You! And me. And every other person, negotiating through markets, just like the Founders wanted. Read More

09.24.22- "This Is The Big One" MN Gordon Warns "We're All Facing A Wrath Of Biblical Proportions"
MN Gordon

“The LORD sends poverty and wealth; he humbles and he exalts.” – 1 Samuel 2:7

Holy Roll

An enterprising entrepreneur did a comedic graphic of Federal Reserve Chairman Jerome Powell captioned: “IN JPOW WE TRUST.”

You may have seen it.Read More

09.23.22- The Fed Is Finally Seeing The Magnitude Of The Mess It Created
Ryan McMaken

When asked about price inflation in his Sunday interview with 60 Minutes, President Biden claimed that inflation "was up just an inch...hardly at all." Biden continued the dishonest tactic of focuses on month-to-month price inflation growth as a means of obscuring the 40-year highs in year-over-year inflation. This strategy may yet work to placate the most ignorant voters, but people who are paying attention know that price inflation continues to soar. Read More

09.22.22- Powell Does It Again
Brian Maher

A 75-basis-point rate hike was forecast… and a 75-basis-point rate hike it was. The Federal Reserve issued word shortly after 2 p.m. Eastern.

Today’s was the third consecutive 75-basis-point rate raising. Never in its history has the Federal Reserve imposed three consecutive 75-basis-point rate raisings. Read More

09.21.22- Deep Into the Danger Zone
James Rickards

The Fed kicked off its two-day meeting today in Washington. The most likely outcome is a 0.75% rate hike, which would bring the Fed’s target rate to between 3–⁠3.25%.

The stock market was down significantly today ahead of tomorrow’s announcement. Importantly, the 10-year Treasury yield rose to 3.57% today, the highest level in over a decade.

Rising yields are especially bad for growth stocks, which have accounted for many of the market’s gains in recent years.Read More

09.20.22- What the End of the Fed Put
Actually Means

Tom Luongo

For more than a year I’ve been arguing that the Fed was tightening US dollar supply. When I first put the idea out there it was met with intense skepticism and, for the most part, it still is.

The Fed has long been the punching bag of hard money and alternative finance types because, frankly, it always deserved it. For nearly the past generation, until June of 2021, the Fed acted as the Central Bank of the World. Read More

09.19.22- The Fed Declares War on Wall Street – With Everyone Suffering the Consequences
Peter Regan

The latest official inflation update of an 8.3% year-over-year rate was either good news or bad news. Good news: it’s noticeably lower than June’s blistering 9.1% report. Bad news: it’s yet another painfully high report in ten consecutive months over 6%, continuing our most severe inflationary episode in four decades.

Experts had predicted only an 8.1% increase, so it’s safe to say a lot of observers were rather surprised by reality. Read More

09.17.22- Jay Powell: A Breathing Weapon Of Mass Destruction?
Matthew Piepenburg

Below we track how the Powell Fed serves as a contemporary weapon of mass destruction.

Powell’s so-called “war against inflation” will fail, but not before crushing everything from risk asset, precious metal and currency pricing to the USD. As importantly, Powell is accelerating global market shifts while sending a death knell to the ignored middle class.

Let’s dig in. Read More

09.16.22- Inflation is turning hyper
Alasdair Macleod

Money supply took off during covid lockdowns. It is now about to take off again to pay everyone’s energy bills. But that is not all.

Demands for currency and credit to be conjured out of thin air to pay for everything will be coming thick and fast. Expectations that energy prices, including European electricity, have peaked are naïve. Putin has yet to put the winter and spring screws on Europe and the world fully. It will be surprising if global oil and natural gas prices in Europe are not significantly higher on a twelve-month view. And Europe has messed up its electricity supplies — that is where the energy costs will rise most. Read More

09.15.22- The Fed Is Wrong to Make Policies Based upon the Phillips Curve
Frank Shostak

Speaking at Jackson Hole, Wyoming, on August 26, 2022, the chair of the Federal Reserve, Jerome Powell, said the Fed must continue to raise interest rates—and keep them elevated for a while—to bring the fastest inflation in decades back under control. Powell said that a tighter interest rate stance is likely to come at a cost to workers and overall growth. However, he holds that not acting would allow price increases to become a more permanent feature of the economy and prove even more painful down the road. Read More

09.14.22- While Inflation and Fear of the Fed Buried Markets, Deeper Troubles
Will Soon be Revealed

David Haggith

Monday’s financial news was filled with fantasies about how Tuesday’s CPI report would be as boring for the stock market as watching the paint dry on Fed QT, but all that falderal didn’t even age one day without putrefying to a level of rancidness that would curl the nose hairs of most investors by Tuesday morning. Read More

09.13.22- The US Fed’s ‘Digital Dollar’
Is Almost Here

Jim Rickards

Central Bank Digital Currencies (CBDCs) are coming even faster than many anticipated.

The digital yuan is already here. It was introduced in China last February during the Winter Olympics. Visitors to the Olympics were required to pay for meals, hotels, transportation, etc., using QR codes on their mobile phones that linked to digital yuan accounts.

Nine other countries have already launched CBDCs. Europe is not far behind and is testing the digital euro under the auspices of the European Central Bank. Read More

08.12.22- The Story of the Fed
is the Story of a Crime

George F. Smith

“The magnitude by which [the reality of the Federal Reserve] deviates from the accepted myth,” writes G. Edward Griffin, “is so great that, for most people, it simply is beyond credibility.”  But as he makes abundantly clear in his landmark book, The Creature From Jekyll Island, now in its fifth edition, the case against the Fed is overwhelming. Read More

09.10.22- And Now, for Something Entirely Different: What In The World Is Wrong With This Country?
Michael Snyder

Just when it seems like we can’t possibly go any lower, we always manage to top ourselves.  In the old days, every once in a while I would come across a story that would make me shake my head in disbelief because it was just so absurd.  Now it is happening on a daily basis.  In this article I am going to share some examples with you.  I realize that some of these things are difficult to believe, but all of them are true.  Our country really is coming apart at the seams right in front of our eyes, and the pace of our national decline only seems to be accelerating.  If we are not able to turn our cultural decay around, eventually we will not have a country at all. Read More

09.09.22- The Fed Is About To Start Losing Money; What Does That Mean?
Michael Maharrey

What happens if the Federal Reserve loses money?

The Fed typically earns interest income from all of the bonds it holds on its balance sheet. It also collects fees for services that it provides. Most of any Fed operating profit is remitted to the US Treasury under federal law. That money becomes part of the federal government’s operating budget. In other words, the central bank serves as a revenue source for Uncle Sam. Read More

09.08.22- Inflation: State-Sponsored Terrorism
Jeff Deist

I. Introduction

Remember the quaint old days of 2019? We were told the US economy was in great shape. Inflation was low, jobs were plentiful, GDP was growing. And frankly, if covid had not come along, there is a pretty good chance Donald Trump would have been reelected.

At an event in 2019, my friend and economist Dr. Bob Murphy said something very interesting about the political schism in this country. He said: If you think America is divided now, what would things look like if the economy was terrible? Read More

09.07.22- Powell: A Breathing Weapon
of Mass Destruction

Matthew Piepenburg

Below we track how the Powell Fed serves as a contemporary weapon of mass destruction.

Powell’s so-called “war against inflation” will fail, but not before crushing everything from risk asset, precious metal and currency pricing to the USD. As importantly, Powell is accelerating global market shifts while sending a death knell to the ignored middle class.

Let’s dig in. Read More

09.06.22- The Federal Reserve Wants You Fired
Ron Paul

The Federal Reserve was no doubt troubled by July’s decline in the US unemployment rate to 4.5 percent and increase in job openings to 11.2 million. This is because the Fed’s strategy for reducing the historic price inflation now plaguing the economy — caused by the Fed’s unprecedented low or zero interest rate policies — is to increase unemployment in order to decrease consumer spending. In his speech to the annual monetary policy conference in Jackson Hole, Wyoming, Fed Chair Jerome Powell reiterated his commitment to increasing unemployment, or, as he puts it, “softening the labor markets.” Read More

09.05.22- Fed Struggles to Stop Biden from Destroying America’s Economy
Peter Reagan

(Editor's Note: Given the convoluted nature of the title of this essay, it is a genuine stretch to imagine a greater threat to America's economy than the Federal Reserve itself. The Federal Reserve has been, for just over a century, the single greatest threat to the world's economic well being. One hundred ten years of contrived inflation (death by a thousand cuts) has, pretty much, destroyed our currency (a 1980 dollar is worth a quarter) and decimated the middle class. The fact that a cadre of demented buffoons, led by a senile piece of human garbage, has become a an even greater threat than the Fed, speaks volumes to the current terrifying state of the nation. - JSB) Read More

09.03.22- Have We Entered
The New Dark Ages?

MN Gordon

Elizabeth Warren must be a fool.  That, or she thinks the rest of us are fools.

The Senator recently took to CNN to publicly fret over the Federal Reserve’s rate hikes.  She’s worried they will tip the economy into recession.

What’s Warren afraid of?  Her fears have already come true.Read More

09.02.22- When Markets Forget That Central Banks Cannot Fix the World with Interest Rates
Stephen Flood

It would be easy for those who have decided to buy gold and silver bullion to lose heart over the precious metals, had they seen how prices reacted to Chairman Powell’s comments, last week.

However, to do this would be very short-sighted. Whilst Powell may well have signaled that the Fed will stay on this path of tightening this does not mean that they have resolved the issue. Rather, it likely means that the Fed is reacting a little too hard, a little too late and this will almost certainly pave the way for gold and silver investors. Read More

09.01.22- Fed Admits It CAN'T Tame Inflation, Promises More Economic Pain Anyway
Stefan Gleason

Federal Reserve chairman Jerome Powell is talking tough and warning of more interest rate pain to come. At the same time, Fed officials are now admitting that their sized-up rate hikes won't even be sufficient to tame the price inflation they have helped create.

That's because fiscal policy under the Joe Biden administration has gone off the rails. Read More

08.31.22- ‘King dollar’ surges higher as Fed presses ahead with rate rises
Nikou Asgari in London and Kate Duguid

US currency is on cusp of third consecutive month of gains against peers 

The dollar index has risen 14% since the start of the year Read More

08.30.22- Now Everyone is Afraid
of Jerome Powell

Tom Luongo

Back in January I wrote a piece called, “Who’s Afraid of Jerome Powell?” Then I discussed the incipient wailing and gnashing of teeth coming from those terrified of a hawkish Fed. Our entire society has become so addicted to cheap dollars and easy credit that it created a “Ballers” mentality society wide. Read More

08.29.22- Powell's Double Challenge:
Slowing Economy And Vanishing Liquidity

Daniel Lacalle

The hawkish tone of the Fed’s chairman Jerome Powell on Friday 26th was unequivocal. His most important sentence, in my view, was the following: “With inflation running far above 2% and the labour market extremely tight, estimates of longer-run neutral are not a place to stop or pause.” Read More

08.27.22- Fed Chair Jerome Powell Pledges to "Act With Resolve" to Beat Inflation
Mike "Mish" Shedlock

Markets are reeling in response to a hawkish speech by Powell at the Jackson Hole conference.

In Jackson Hole, Wyoming, Fed Chair Jerome Powell gave a hawkish speech today on  Policy and Price Stability. Read More

 08.26.22- Powell Warns Of "Economic Pain" From Tightening, Says "Historical Record Cautions Against Loosning Policy Prematurely
Tyler Durden

You're heard all the previews warning of disappointment.

You've listened to the under-card (Bostic, Bullard, and Harker all equanimously hawkish) Read More

 08.25.22- The Great Deception
Dennis Miller

The Fed’s “magic money” game is about over! They try to fool the public into thinking they are sitting in a giant control center, making decisions, punching their keyboards, and controlling the economy. Happy days are here again, today, tomorrow and forever. Not to worry, the Feds got you covered. Cut the crap!

The Chicago Fed outlines their dual mandate, and what the Fed is supposed to be doing: Read More

 08.24.22- The Numbers Don't Lie; The Fed Won't Win This Inflation Fight
Michael Maharrey

The central bankers at the Federal Reserve continue to talk tough about fighting inflation.

But is it a fight they can win?

The numbers say no.

After the CPI data cooled a bit in July, many observers expected the Fed to declare victory and begin pivoting away from tightening monetary policy. Instead, the central bankers doubled down on the tough talk. Minneapolis Federal Reserve Bank President Neel Kashkari said the Fed remains “far, far away from declaring victory” on inflation. Read More

 08.23.22- Is the FED Setting
a CBDC Recession Trap?

Red Rock Secured

Politicians have taken advantage of every economic disaster since the Great Depression. In private back-room meetings, they exclaim with delight, “Never let a crisis go to waste." This revolting phrase goes all the way back to just after WWII. It’s credited to Winston Churchill, who at the time was working to form the United Nations. Read More

 08.22.22- The Fed Can No Longer Easily Inflate Asset Prices?
Doug Nolan

View Video

08.20.22- When Wall Street Fights the Fed,
We All Lose

Peter Reagan

The Federal Reserve has been all over the news for months now, and today’s no different.

One market pundit – dubbed Wall Street’s most accurate analyst – predicts the Fed will reverse course on hiking rates unless there’s a market meltdown by mid-September. Read More

08.19.22- Jackson Hole:
More Things To Worry About

Simon White

Anticipation that Powell’s Jackson Hole keynote will showcase his inflation-fighting resolve should depress equities in coming days. However, it’s hard to envision how he can successfully cause rates to reprice, and the speech will likely fall short of expectations.

It’s an article of faith among most analysts that inflation is too high and that it requires a significant tightening in financial conditions to bring it back to target. Furthermore, the 2023 Fed dots are 51bps higher than Jan. 24 implied Fed fund futures. Read More

08.18.22- We Are Witnessing a Global
De-Dollarisation Spree

Cary Springfield

It has been around six months since the start of the war between Russia and Ukraine. During this time, the world has keenly witnessed seismic shifting trends across economic, geopolitical and cultural lines. But perhaps the most profound impact the conflict has had (and continues to have) on the world is the acceleration it has inspired towards multipolarity—that is, global power more evenly distributed amongst several advanced economic nations rather than contained within a single hegemonic power, which in this case is the United States. Underpinning much of this acceleration, moreover, is the trend of de-dollarisation. Read More

08.17.22- The ‘Wage-Price’ Spiral Is a Symptom of Inflation, Not the Cause
John Phelan

In June, the Bureau of Labor Statistics (BLS) announced that the Consumer Price Index (CPI) had risen by 8.6 percent in the year to May. This was “the largest 12-month increase since the period ending December 1981.” What is causing this?

One common explanation is higher wages which, it is said, drive what is known as the “wage-price” spiral. CBS News recently carried a discussion between reporter Brook Silva-Braga and ‘What's Your Problem’ podcast host Jacob Goldstein that explained how this works: Read More

08.16.22- “Cash Free” Central Bank Digital Currency Roll Out Coming In December?
Mac Slavo

The endgame is to total control of the slaves with a cash-free system. Those at the top will fully control a central bank digital currency or CBDC, and once they roll it out, it’s game over for the slave class.

Executive Order 14067 signed by Joe Biden gives the ruling class the power to create CBDCs, distribute them at will, take them from you when they want, and just shut it off if you do something they don’t like. Read More

08.15.22- The Trigger For
The Next Great Depression

Bert Dohmen

During the bear markets of the past 30 years, inflation pressures were subdued, and therefore, the record money creation of the past 10 years apparently did not cause a visible problem. Inflation lags money creation. 

However, inflation has now broken out to the upside and hit the highs established in 1980 to 1982. If the Fed now were to stimulate the markets with another round of excessive money printing, for the purpose of avoiding a recession till next year, inflation would go to the all-time record high of 1917, which is when the CPI soared over 19%. Read More

08.13.22- The Bad Inflation News
Everyone Is Ignoring

Peter Reagan

The official consumer price index (CPI) gauge of inflation finally eased in July, slowing 60 basis points to an 8.5% annualized rate.

Further upstream, the producer price index (PPI) also slowed from 11.3% to 9.8% year-over-year. Read More

08.12.22- The Price Of Eggs Is Up 47% As Food Costs In The US Spiral Out Of Control
Michael Snyder

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.  Read More

08.11.22- Ron Paul Reveals Exactly How Much the Federal Reserve Has Already Robbed You
Dr Ron Paul

Even after decades educating Americans on economics and liberty, I’m still amazed by the number of people who have no idea what the Federal Reserve is or what they do.

Sometimes, if put on the spot, folks will hazard a guess.

“They’re a bank, right?” Sort of, but not really.

“They’re the ones who make the stock market go up.” While that’s true, it’s not their job to pull the strings on Wall Street. Read More

The Fed Has It EXACTLY Backwards
Brian Maher

The Federal Reserve believes it hangs from the hooks of a horrendous dilemma.

To cage the inflationary tiger presently amok, it would likely plunge the economy into severe recession…

Yet if it navigates a wallowing economy away from recession, inflation will run and run and run. Read More

08.09.22- Global Planned Financial Tsunami Has Just Begun
F. William Engdahl

Since the creation of the US Federal Reserve over a century ago, every major financial market collapse has been deliberately triggered for political motives by the central bank. The situation is no different today, as clearly the US Fed is acting with its interest rate weapon to crash what is the greatest speculative financial bubble in human history, a bubble it created. Read More

08.08.22- Evidence Yellen And Biden Don't Want You To Know The Economic Freefall Is Gaining Momentum - Very Sick Job Market In The Tech Sector Another Sign The Bottom Is Dropping Out 
MN Gordon

Flat Out Wrong

Jobs data reported this week by the Bureau of Labor Statistics show that, as of the last business day of June, there are 10.7 million job openings. Hence, according to the numbers, there are many more available jobs than willing workers. Read More

08.06.22- Here’s Why Thomas Jefferson Would’ve Had Jerome Powell Arrested
Ron Paul

Before we get started today, I want to tell you a story about the former military dictator of Uganda, Idi Amin. During his eight years in power, the economy and infrastructure of the nation collapsed thanks to years of neglect and abuse. Amin took a familiar economic approach to his nation’s economic crisis – he had more money printed. In fact, he personally negotiated a print run of 2 million in banknotes with a British company – at the end of the negotiations, the company’s salesman asked how they’d be paid for this service. Read More

08.05.22- The Great Recession: Facts vs. Denials
Matthew Piepenberg

Once again, the US is facing a recession which Main Street feels, Wall Street whistles past, and DC simply denies.

Below, we look at these recessionary forces and delusional policy makers in the context of blunt-speak rather than Fed-speak so that we can best prepare for what’s already felt but rarely spoken from on high. Read More

08.04.22- Central Bankers Sound More And More Like Ron Burgundy
Michael Every

'Im-Pelosi-ble Mission'

The world watched live last night Asia time as the news declared “The Nancy has landed”. Tweets flew about the Chinese closure of civilian airspace near Taiwan; of PLAN ships leaving port; of PLA jets in the air; and got footage of confused Chinese beachgoers looking a long line of PLA tanks trundling along in the sand. However, there was not an immediate military response - just China banning imports of Taiwanese biscuits. This saw a knee-jerk market relief response, meaning stocks and bond yields were both up. Read More

08.03.22- Fed Struggles to Extinguish the Inflation Bonfire (Here’s Why It’s Not Working)
Peter Reagan

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: The Fed needs a 9% interest rate, gold posts biggest gain since March, and Venezuela’s gold isn’t getting home just yet.

Economist: Fed has to keep rising rates, will look for 9% benchmark Read More

08.02.22- In The Eye Of The Storm
Clive Hale

Will Powell pivot? And if so, when?

Bear market rallies can engender even more superlatives than those that accompanied stocks to their bull market peaks. “All is well! We have had the correction, and this is the start of the next bull market.” Read More

08.01.22- And Now, for Something Entirely Different: Biden Policies Invite a Chinese Communist Attack On Taiwan
Justin O. Smith

(Editor's Note: We have arrived at the point where the Biden Administration is a greater threat to America's well being than the evil machinations of the Federal Reserve. - JSB)

Many Americans may not be too concerned with what happens around the globe, because so many people take an overly simplistic view of international relations. What happens in Taiwan will in fact have an effect on all of us here in America and many people elsewhere in the world, in a litany of unexpected developments and consequences. Read More

07.30.22- What Happens If The Fed Doesn't Capitulate On Interest Rates?
Tyler Durden

In the past stock markets used to rely on the innovation and profit reports of individual companies, and while there were sometimes all encompassing events that would push equities in one direction or another, in the last decade there has been only one factor that ever really matters:  The Federal Reserve.  

The central bank has positioned itself as the ultimate arbiter of market rallies and corrections.  In fact, most of the world is now placing all their investment bets on a single hope, that the Fed will capitulate on interest rate hikes, ignore the stagflation crisis and ramp up the printing presses once again with wild abandon. Read More

07.29.22- US Fed - The Battle Against Excess Global Capital Continues
Chris Vermeulen

The US Fed continues to bring the big guns, raising rates another 75 bp (0.75%) on July 27, 2022. Even though they stated the economy is softening, current Inflation and CPI data suggest otherwise. The US Fed may be forced into another 75~100 bp rate increase next month if the US economy continues to show strong CPI and Inflation trends. There is only one other time in recent history like the current market environment – 1998~2004. Read More

07.28.22- Is the Federal Reserve
at the End of Its Rope?

Michael Maharrey

The Federal Reserve delivered another 75 basis point interest rate hike at its July FOMC meeting. This pushes the federal funds rate over the 2% threshold to between 2.25% and 2.5%.

The mainstream media emphasized the size of the hike. One headline called it “a second super-sized hike,” with many other mainstream pundits noting that it matched a June hike was the biggest since 1994. But it wasn’t as big as the full 1% hike everybody thought was on the table after we got June’s flaming hot Consumer Price Index (CPI) data. Read More

07.27.22- Today The Fed Hikes 75bps: What Happens Next Has Wall Street Hopelessly Split
Tyler Durden

What the Fed says at Wednesday’s meeting is going to matter much more than what they do.

That, according to Bloomberg's Garfield Reynolds, will be the case even if Powell shocks us all by hiking less or more than the three-quarter point shift that’s been solidly priced in for most of the time since the June meet. Read More

07.26.22- Top Analyst Predicts Where Gold Is Going, and It’s Almost Unbelievable
Peter Reagan

Fed mismanagement creates huge opportunities for gold investors; gold did what it’s supposed to this year, and a Japanese perspective on gold as a safe haven.

Expert predicts $2,400 gold within 12 months

Gold investors shouldn’t look forward to a reversal in the Federal Reserve’s tightening policies because a flip-flopping Fed would create the kinds of economic instability that not even the biggest gold investors would appreciate. Read More

07.25.22- The Canaries In The (Housing Market) Coal Mine Are No Longer Singing
Douglas French

The Federal Reserve has declared its program of monetary expansion (formerly referred to as inflation) over in an effort to fight rising prices (currently referred to as inflation). As Murray Rothbard explained, “Government intervention brings about bank expansion and inflation, and, when the inflation comes to an end, the subsequent depression adjustment comes into play.” Read More

07.23.22- And Now, for Something Entirely Different: John Cleese Blasts Wokeness As The "Death Of Creativity"
Steve Watson

“If you’re worried about offending people and constantly thinking of that, you are not going to be very creative”

Legendary comedian John Cleese has warned that woke ideology has not only been “disastrous” for comedy, but is leading to the “death of creativity” in general.

During an interview with Fox NewsCleese was asked if comedians today are allowed “the freedom to be funny,” to which he responded “no.” Read More

07.22.22- Powell Seen Slowing Fed’s Hikes After 75 Basis Points Next Week
Steve Matthews and Sarina Yoo

Federal Reserve Chair Jerome Powell is likely to slow the pace of interest-rate increases after front-loading policy with a second straight 75 basis-point hike next week, economists surveyed by Bloomberg said.

They expect the Federal Open Market Committee to lift rates by a half percentage point in September, then shift to quarter-point hikes at the remaining two meetings of the year. That would lift the upper range of the central bank’s policy target to 3.5% by the end of 2022, the highest level since early 2008. Read More

07.21.22- Central Bank Digital Currencies Are Coming – What Will The Consequences Be?
Brandon Smith

Currencies are the lifeblood of a nation’s trade and its economy. When a currency fails, the entire economy collapses.

Even so, most people rarely think about the health or buying power of the money in their pockets. They watch their bank balance, and their brokerage or IRA balance and are aware of their home’s value. They see those numbers change, but they never reflect on the value of the currency itself.  Read More

07.20.22- Telling You What Powell Won’t: He’s Seeking Inflation, Not Fighting It
Matthew Piepenburg

As repeated in numerous articles and interviews, global central banks in general, and the Fed’s Jerome Powell in particular, have placed themselves and the global markets and economy in a trap from which there is no escape short of biting off their own feet, as they’ve had a foot in their mouths for years.

Or as Mohamed El-Erian said best: “The Fed has no good scenarios left.” Read More

07.19.22- The Real Policy Error Is Expanding Debt and Calling It "Growth"
Charles Hugh Smith

Waste is not growth, and neither are the unlimited expansion of debt and speculative bubbles.  

The financial punditry is whipping itself into a frenzy about a Federal Reserve "policy error," which is code for "if the music finally stops, we're doomed!" Read More

When will inflation peak? Consumers and economists see light at the end of the tunnel (but it’s a long tunnel)
Andrew Keshner

Consumers think inflation still has to boil over before it cools, according to the Federal Reserve Bank of New York’s latest read on people’s economic expectations.

Inflation hit 9.1% on the year in June, a 41-year high, which was higher than either economists or inflation-derivatives traders had expected. Read More

07.16.22- The Core? Flexible Price Inflation Rises To 18.74% While Core Inflation Plunges To 8.40%, “Fats” Waller Backing 75 Basis Point Hike (30Y Mortgage Rate Rises To 5.83%)
Anthony B. Sanders

As Americans are painfully aware, inflation is the highest in 40 years prompting The Federal Reserve to remove the massive punch bowl. In fact, Federal Reserve Governor Christopher “Fats” Waller backed raising rates by 75 basis points this month. Read More

07.15.22- "Take The Tragedy In Sri Lanka And Multiply By Ten": The Fed Just Lobbed A Financial Nuke That Will Obliterate
The Global Economy

Larry McDonald

We are living in a period of mass “Jonestown” economic delusion. Just twenty months ago – central bankers were offering to buy nearly every junk bond known to mankind, dramatically distorting the “true cost of capital.” All the way from crypto to emerging markets – it was a moral hazard overdose. Everyone on earth was borrowing money at fantasy-land bond yields. Read More

07.14.22- All Inflation Comes
From This One Place

Ron Paul

I recently saw a survey that reported the majority of Americans, regardless of their political affiliation or income level, agree that inflation is their number one concern.

That’s not surprising. An 8.6% destruction of your purchasing power every year is bad enough – but if we used the 1980-based inflation measurements, we learn that inflation is likely about double the official number. Read More

07.13.22- Inflation terror at the Fed
Paul A. London, Ph.D

President Franklin Roosevelt said at his first Inauguration in March 1933 that “the only thing we have to fear is fear itself … unreasoning, unjustified terror.”  FDR was speaking at the depths of the Great Depression but what he said is relevant in 2022 when a recession is not yet a sure thing. Today’s unreasoning terror is that inflation will surge out of control when the thing to fear is that raising interest rates could lead to a dangerous downturn.  Read More

07.12.22- And Now, for Something Entirely Different: The Latest News Foretells American Collapse
Paul Craig Roberts

California Democrat Governor Newsom intends to phase out gasoline powered cars by 2035 and replace them with battery powered cars that have to be continually recharged with electricity.  Currently, there is insufficient electricity available to California to safeguard California from brownouts at current usage.  In the meantime California’s last nuclear energy electricity plant faces closure.  It is completely unclear how California is going to have enough clean electricity for its electric-only cars. A safe conclusion is that California is headed for an unmanageable energy crisis. Read More

07.11.22- The Fed Is Afraid of Inflation and Tightens Its Hawkish Stance
Arkadiusz Sieron, PhD

The Fed gives no illusions: it will maintain its hawkish stance. Meanwhile, gold plunged decisively below $1,800, which has bearish implications.

Yesterday (July 6, 2022), the FOMC published the minutes from its last meeting, held in mid-June. Although the publication reveals no major surprises about US monetary policy, it shows rising worries within the Fed and also strengthens its hawkish rhetoric. Read More

07.09.22- Peter Hambro – BIS, central banks are rigging gold market using
bullion banks’ paper gold

Ronan Manly

“Gold to central bankers is like the sun to vampires."

This week an intriguing and eye-opening article by the well-known Peter Hambro was published by British economics and politics news site Reaction. Read More

 07.08.22- And Now, for Something Entirely Different: A Great Endeavor
James Howard Kunstler

This birthday of the republic we are on track to going medieval, or something that at least rhymes with it….

I wish I had a time machine. I would teleport a small delegation of Ben Franklin, Tom Jefferson, and Button Gwinnett from their sweltering labors at Independence Hall — then known as the Pennsylvania state house — to a Drag Queen Story Hour hosted by Lil Miss Hot Mess (“The People’s Drag Queen”) reading from her best-selling book, The Hips on the Drag Queen Go Swish, Swish, Swish, to a roomful of six-year-old offspring birthed by America’s current Progressive ruling elite. Here, I would explain, is what it has come to. Read More

 07.07.22- There's A "Major Market Shift" Going On Over What Will Trigger
The End Of The World

Bill Blain

“ The world is a concept that requires constant juggling…”

Don’t be distracted by the antics in Westminster – there is a major market shift going on between the End of the World being triggered by Inflation, or Recession destroying everything. Relax. European Energy policy will probably kill us!  Read More

07.06.22- The Trolley-Car Problem, Part 1: The Fed's Predicament
Michael Lebowitz

An unstoppable trolley car is barreling down the track. As the switchman, you stand at the junction where the track branches into two and you must choose which path the trolley will follow. Unfortunately, people are tied to both tracks, making the decision incredibly difficult. 

The trolley car problem is an ethical question that forces one to choose between two poor consequences. Read More

07.05.22- The Federal Reserve’s Policy Is Mistaken
Paul Craig Roberts

Normally, recessions are the result of a reduction in liquidity by the Federal Reserve, the central bank, which is signaled by a rise in interest rates.  Normally, recessions are short-run affairs of 6 to 9 months.  Unemployment, which is as costly in its way as inflation, causes the Federal Reserve to relent and to increase liquidity, which is signaled by a reduction in interest rates. Read More

07.04.22- Will A Fed Pivot Send Inflation Raging Higher?
Steve Hanke

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07.02.22- Central banks look to China’s renminbi to diversify forex reserves – The Financial Times
Kerstin Weber

Central banks are looking to the renminbi to diversify their foreign currency holdings, in a sign that a geopolitical flare-up could take away the dollar’s dominance. 

The proportion of central bank reserve managers who have invested in, or are interested in, renminbi rose to 85 percent this year from 81 percent last year, according to an annual survey conducted by UBS among 30 major central banks. done accordingly. April and June 2022. Read More

07.01.22- Why (and How) the Fed Could Incinerate Your Savings in One Month
Ron Paul

As you might imagine, the last time I talked to the team at Birch Gold Group, the topic of inflation came up. I think this is a crucial matter for every American to understand. Let me start with a fact about how money used to work. According to Michael D. Bordo, professor of economics at Rutgers University: Read More

06.30.22- The Controlled Demolition
of the United States

David Jensen

View Video

06.29.22- The risk of a flip-flopping Fed
Mohamed El-Erian

Well-informed Fed with a credible vision for the future minimises the risk of disruptive financial market overshoots

The markets are evolving their minds about US economic prospects just as the Federal Reserve has been scrambling again to catch up to developments on the ground. Read More

06.28.22- Michael Burry Agrees: "Bullwhip Effect" Will Force Powell To Pivot On Rate Hikes And QT
Tyler Durden

In the past month we showed readers on at least two occasions...

06.27.22- The Return of the Anguish of Central Banking: Why the Fed and Inflation
Go Hand in Hand

Antony P. Mueller

The recent outbreak of price inflation with the jump to an annual rate of 8.6 percent in May 2022 came as a surprise to the US central bank (the Federal Reserve). Having ignored the warnings of the Austrian school economists, the policy makers were paralyzed in the face of a phenomenon they deemed impossible to happen. None of their forecasting models had triggered an inflation alert. Read More

 

06.25.22- Fed To Pivot By End Q3, Likely Sooner Predicts Analyst Luke Gromen
Wealtheon

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06.24.22- No One’s Going to Save Us from What Comes Next
Peter Reagan

After a tumultuous 2021 where Powell and Yellen both insisted for months that rising inflation was merely “transitory,” inflation got much worse in 2022.

Aside from being the “tax no one voted for and everyone pays,” historic inflation accelerating to levels not seen in over four decadeshas serious consequences. One of those consequences is the near-certain probability of a major recession, resulting from attempts to “cool off” inflation. Read More

06.23.22- Ron Paul: Fed Rate-Hikes Are
'Too Little, Too Late'

Dr Ron Paul

The Federal Reserve’s recent 0.75 percent increase in its “benchmark” interest rate is the Fed’s highest rate increase since 1994. This increase is a sign that the Fed has finally realized that price inflation is more persistent and widespread than the Fed initially believed.

Stocks have fallen much lately. This is in part because of fears rate hikes will push the economy into recession. The Fed itself seems to believe that the economy is going to slow down in the near future, as it has reduced its projection of 2.2 percent economic growth in 2022 to 1.7 percent. Even more ominously, the Atlanta Fed’s GDP tracker fell to zero for the second quarter of 2022, due in part to May’s weak retail sales. Read More

06.22.22- A big test of Powell's support
Kate Davidson

It’s a short week, but it’s shaping up to be another extraordinary one, as Federal Reserve Chair Jerome Powell heads to Capitol Hill for his semi-annual congressional testimony, just days after he oversaw the biggest interest-rate increase since 1994.

He’ll testify before the Senate Banking Committee first on Wednesday, then the House Financial Services Committee on Thursday. Read More

06.21.22- "We Now See The Fed Moving Toward An Attempted Controlled Unwind Position"
Larry McDonald

Never forget – NOT allowing price discovery for a long period of time - then forcing the process onto markets with a “bayonet in the back” - at an ever-accelerating rate - is a virgin-central bank experiment. It comes at a high price. Never happened before.  Read More

06.20.22- Our Economy In a Nutshell
Charles Hugh Smith

The economy has reached an inflection point where everything that is unsustainable finally starts unraveling. 

Our economy is in a crisis that's been brewing for decades. The Chinese characters for the English word crisis are famously--and incorrectly--translated as danger and opportunity. The more accurate translation is precarious plus critical juncture or inflection point
Read More

06.18.22- No, Inflation Is Not A Product Of Corporate Greed
Ranen Aschemann

Seventeen months ago, as the keys to the oval office changed hands, for all of the political animus and theatrics, one thing seemed a given: the US economy would roar back to vitality in historic fashion, a point of optimism in a nation of discord and incertitude. Yet hope would give way to ambivalence, which, in turn, gave way to serious doubt. Today, a pathetic 23 percent of Americans feel economic conditions are even “somewhat good.” The primary reason for such abysmal economic sentiment? Inflation. Read More

06.17.22- The Fed isn't Debasing the Currency Fast Enough
Lyn Alden

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06.16.22- Buckle Up, Things Are About to Get REALLY Nasty
Graham Summers

Stocks are imploding again.

The fact is that the Fed screwed up. And not the usual “we didn’t see the bubble” type of screw up they did in 1998 and 2006.

No, this is a multi-decade level screwup. The kind of thing that usually results in everyone being fired.

I’m talking about inflation. Read More

06.15.22- Forget 50 or 75 bps, Fed Funds Rate May Need to Soar to 20% Once Again
Bert Dohmen

The CPI inflation data last week came in at a new high of 8.6% on June 10 “officially”, reaching another 40-year high. However, we know that true inflation is actually about twice that high. Everything reported nowadays is fake, false, and outright lies now a days.

Analysts continue to tell gullible investors we are near “peak inflation” and that it will decline from here. They are either dumb or intentionally dishonest. Read More

06.14.22- Inflation-Deniers Are Finally Admitting They Were Wrong
Tyler Durden

We heard it for the past couple of years - Inflation is merely "transitory."  Government and central banking officials as well as the Biden White House were in full spin mode on rising prices and the decline in the dollar's buying power while the mainstream media backed them every step of the way.  As a result, the public was grossly misinformed on the dangers ahead. Read More

06.13.22- What Is Stagflation
and What Causes It?

Frank Shostak

The occurrence of stagflation is associated with a situation of general strengthening in the momentum of prices while at the same time the pace of economic activity is declining. A famous stagflation episode occurred during the 1974û75 period, as year-on-year industrial production fell by nearly 13 percent in March 1975 while the yearly growth rate of the Consumer Price Index (CPI) jumped to around 12 percent.  Read More

06.11.22- What happens when
the “experts” are wrong?

Simon Black

I arrived back to Mexico a few days ago, because, the big news in my life is that my wife and I are expecting our second child. It’s a boy.

And we had such an amazing experience with the birth of our daughter here in Mexicolast year that it was a no-brainer for us to come back to Cancun for the birth of our son. Read More

06.10.22- What’s Happening to America’s Wealthiest Families Proves the Dollar Is Failing
Peter Reagan

There isn’t any doubt, when inflation accelerates like it is right now, the lower income class has their financial worlds turned upside down. After all, that’s what happens when most of the food that we eat and fuel we use every single day suddenly becomes 10% – 43% more expensive.

But according to a recent report by CNBC’s Jessica Dickler, it looks like the least-wealthy 50% of Americans aren’t the only ones suffering: Read More

06.09.22- DiMartino Booth: Controlled Demolition Of The Markets Is The Fed’s Endgame For Taming Inflation
Adam Taggart

View Video

06.08.22- Are Supply Chain Issues
Driving Inflation?

Nicolás Cachanosky

A recent New York Times poll finds that Americans disagree about the cause(s) of inflation. The poll lists several supply-chain explanations, including supply-chain disruptions, COVID-19, and the Russian invasion of Ukraine. On the surface, these supply-chain explanations seem plausible. When goods become more scarce, their prices rise. But there are at least two problems with the supply-chain narrative. Read More

06.07.22- Respect the Fed? No, End the Fed
Dr. Ron Paul

President Joe Biden has unveiled a three-part plan to fight inflation — or at least make people think he is fighting inflation. One part of the plan involves having government agencies “fix” the supply chain problems that have led to shortages of numerous products. Of course, any attempt by the government to solve the supply chain problems (which were caused by prior government interventions such as shutting down the economy for over a year) will not just fail to solve the supply shortages but will create new problems. Read More

06.06.22- "When Whales Like Central Banks Need To Exit, There Is A Point Where Every Ordinary Investor Is Forced To Liquidate"
Eric Peters

“Since central bankers are enacting monetary policy by acting like market participants, let’s analyze them like investors,” said Lindsay Politi, PM for One River’s inflation-strategy.

“Central banks are the biggest whale in financial market history. And we’ve all seen what happens when a whale needs to exit. The catalyst is always an unaccounted risk, a surprise event, or an incorrect assumption,” said Lindsay. “Whether it’s a margin call that can’t be met, a risk officer shutting it down, or client redemptions; there’s a point where every ordinary investor is forced to liquidate.” Read More

06.04.22- And Now, for Something Entirely Different: Recent Events Only Reinforce Our Need For Gun Rights And Community Militias
Brandon Smith

I want to stress a very important point first and foremost, because I don’t think the political left and the average gun grabber understands the gravity of the situation and they need to be educated:

Liberty advocates will NEVER give up their guns. It’s not going to happen. We have drawn a line in the sand when it comes to the 2nd Amendment and we are not going to move, not even an inch. It does not matter what legislation or executive orders Joe Biden promotes, and it does not matter if there are future criminal events involving firearms. Read More

06.03.22- WARNING: The “Fed Pivot” Is A Lie
Graham Summers

It’s total nonsense, so let’s dive into this a bit more…

The financial media is pushing the narrative that the Fed is about to “pivot” in terms of inflation.

Put simply, the argument is that inflation has peaked, so the Fed won’t need to raise rates by 0.5% past the month of September, at which point it will either PAUSE raising rates or continue to raise them albeit at a slower pace of 0.25% per raise. Read More

06.02.22- The Fed Created the Next Recession
Alfie Meek

The long-term driver of inflation, and the reason we have so much inflation, is the fact that we printed six and a half trillion dollars in 48 months and grew the money supply by 40%. That is simply what's driving all of this, and all of the other things are just sort of add-ons to the supply chain. Is Russia's invasion of Ukraine driving some of it? Yes. Is that the main driver? No. The longer-term structural issue is the fact that we grew the money supply by six and a half trillion dollars. That's what's driving inflation at the end of the day. It takes 12 to 18 months for all that government spending to get into the system. Read More

06.01.22- The Big Questions We Should All Be Asking Geopolitically
Tom Luongo

To say that current events are ‘messy’ today would be the height of understatement. Everyday the headlines blare at us some new set of contradictory data points convincing us of some lie that serves someone’s purpose.

No matter how hard we try to keep up with things, cutting out the extraneous to find the nuggets of signal from the jungle of noise is more than a full-time job. Read More

 

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