from Kerry Lutz's Financial Survival Network
An election took place in Italy that could change things, and the Euro has been sinking like a stone…What’s in store for Europe? I sit down and chat with John Rubino to discuss the European economy. Their energy system has taken a turn for the worse, and their currency problems cannot be fixed with with monetary policy. They will inevitably have to tighten, as inflation and broken supply chains cannot be fixed with easy money. Tune in for more insight on what’s to come for Europe.
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It’s already playing a key role in every one of Powell’s press conferences.
I don’t know if I have the words to describe what we have just seen. Summer just ended, and within one week we have already witnessed the most costly natural disaster in the entire history of the United States. There are some areas along the west coast of Florida that have literally been destroyed. Some have compared the devastation to the dropping of an atomic bomb, and that is not an exaggeration at all. The state of Florida has never experienced a storm quite like this before, and recovery is going to be measured in years.
What has been occurring in the gold and silver markets is nothing short of extraordinary. In the face of all objective and measurable conditions in the physical markets pointing to higher prices, instead prices have collapsed over the past six months by amounts comparable to the sharpest selloffs in history. From the price top of March 8, gold has fallen as much as $450 (22%), while silver has fallen by as much as $10 (36%) in recent dealings.
Since my foray into politics, I have come to understand that our system comprises insiders and outsiders and that Donald Trump was the consummate outsider. He was opposed by the system on both sides of the political aisle. Admittedly, I counted myself amongst the opposition. It was only when faced with a choice of yet another Clinton, whom we were told held a 95% chance of victory, that I felt a throw-away vote for Trump was in order. To my surprise, the bastard actually won. He wasn’t supposed to win.
Six months before the COVID-19 pandemic prompted mass school closures nationwide, a K-12 district in Brooklyn became the vanguard of a citywide, nationally watched push to combat “desegregation” through scrapping selective admissions criteria and instituting the algorithmic lottery system of “controlled choice.” Meaning, families would rank their choices for middle school, and the Department of Education (DOE) would feed those preferences into a complicated sorting process through which government can better control the racial and socioeconomic distribution among the schools.
California Gov. Gavin Newsom (D) signed forty-four new laws this week, according to an announcement by his office.
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Following the new Kwarteng/Truss economic policies revealed in last week’s mini budget, the widespread condemnation is a reflex Keynesian response from a world which has become hostage to erroneous economic and monetary groupthink in its major institutions.
This morning the UK pound slumped as one of the world’s oldest central banks pressed hard on the panic button. The Bank of England was seen to be shouting ‘Pivot! Pivot! Pivaat!’ as they announced they would temporarily suspend their programme to sell gilts and will instead buy long-dated bonds.
After Powell pulled a 180 from his July FOMC in order to stop “transitory” inflation, markets have fallen sharply. Now there are hints of trouble for the central bankers ahead. Where the heck do we go in October? Host Craig Hemke sits down with legendary natural resource investor Rick Rule to break down all the gold and silver news you need.
Russian President Vladimir Putin is expected to annex parts of eastern and southern Ukraine on Friday, claiming that forced referenda across four occupied regions support Russia’s claim.
Four vaccines later and with even the likes of Joe Biden admitting that the pandemic is over, there are still hordes of people who want to continue to wear face masks and to force others to do the same.