by Alasdair MacLeod
Gold Money
Decades of interest rate suppression have resulted in debt traps in both public and private sectors which will destroy faith in fiat currencies. This leads to higher, far higher interest rates and the escape into gold is only just starting.
Throughout European history, there has been a dislike of interest rates. For the last two millennia this was reflected in Christian (and Muslim) bans on usury. But interest is charged by a lender for good reason. A lender is ceding possession of money or credit to another, losing the facility to turn them into goods for his or her own consumption. That is worth compensation, and economists call it time-preference. And then there’s the risk that the borrower might default on the obligation to repay. That’s worth something as well. The fact of the matter is that the compensation a lender of money is due can only be decided on a case-by-case basis between lender and borrower.
Combine this with a sudden awareness of an open border to the south and the NYTimes recent discovery of vaccine injury (covered in yesterday’s Scouting Report) and we’ve got the makings of a proper common knowledge movement!
by Dr. Chris Martenson
Chris Martenson’s Peak Prosperity
This is how ‘trickle-truthing’ works. A little bit of a painful truth is leaked out over time. Each time a little more. The idea is that this causes less of an explosion than simply being truthful up front.
But ask any spouse who’s been cheated on if this method works. The answer is “no.”
Combine this with a sudden awareness of an open border to the south and the NYTimes recent discovery of vaccine injury (covered in yesterday’s Scouting Report) and we’ve got the makings of a proper common knowledge movement!
by Doug Casey
International Man
War is one of the few things that only the State can do. Indeed, as Randolph Bourne said, “War is the health of the State.” Let’s briefly discuss the nature of the State to see why World War 3 is on the way.
The State is like any other living entity: its prime directive is to survive and grow. Bear in mind that the State—the government—is not at all the same thing as the country or society, even though it claims to be. It’s not “We the People”; it’s a distinct entity with its own discrete interests. And that’s actually too mild an assertion. While individuals and companies prosper by providing goods and services to others through voluntary exchange, the State specializes in coercion.
There’s nothing voluntary about the State. Its main products have always been pogroms, persecutions, confiscations, taxation, inflation, censorship, harassment, repression—and war. The State is not your friend.
by Wolf Richter
Wolf Street
We have a special place in our heart for DoubleVerify because it blacklists WOLF STREET in the “brand safety” services it touts to advertisers.
Shares of DoubleVerify Holdings [DV] plunged 40% today, to $18.25 at the moment, after it had reported earnings last night. Shares are now down by 62% from their intraday high on June 29, 2021, and far below the IPO price of $27 in April 2021.
The ad-tech company has wedged itself between advertisers and internet publishers, trying to extract money from both for various services that it touts with dubious claims. Before today’s mishap, its market cap was $5.3 billion, now down by $2.1 billion, to $3.2 billion.
by Craig Hemke
TF Metals Report
It’s another slow news day but, because of that, the weekly jobless claims data got far more attention than usual. And it’s a good thing, too, as the weekly totals finally budged off of the ridiculously stable 212,000 number for the first time in weeks.
For this data to have any relevance at all, it has to eventually begin showing the impact of the hundreds of thousands of corporate layoffs. Oh sure, maybe a “white collar” job loss comes with some sort of temporary severance package that forestalls a claim for unemployment insurance. But those severance checks run out eventually and, if you haven’t found a new job, you’re going to end up in line at your local employment office.
by Andrea Togni
Mises.org
On April 24, two lead developers of Samourai Wallet (SW), the most-advanced privacy-centric wallet in the bitcoin ecosystem, were arrested and charged with money laundering and money transmitters offenses by order of the United States Department of Justice (DOJ). This is just the latest assault of an escalating war waged by US regulators on financial privacy and freedom.
Other examples are the arrest of Tornado Cash developers—a privacy protocol developed for Ethereum and other blockchains—and the pressure exerted by three-letter agencies on centralized exchanges to delist privacy-centric cryptocurrencies such as monero. Regulation by arrest and intimidation is the strategy deployed by the US government to drain liquidity from privacy-preserving money, which is perceived as a threat to the hypersurveilled fiat monetary system.
by Sprott Money
Sprott Money
Amid declining stock and real estate markets in China, investors, facing a depreciating currency, increasingly turned to precious metals, with significant purchases of jewelry, bars, and coins reported. Although the exact numbers are uncertain, all hard data pointed to a dramatic shift towards physical metals.
Simultaneously, India saw remarkable activity in the silver market. In February, they purchased approximately 75 million ounces of silver—more than a month’s global supply, followed by another 35 to 40 million ounces the next month, indicating unusually high demand. This trend reflects a growing global distrust in currencies and government and central bank policies, particularly the prolonged zero interest rates in North America and Europe, which were unprecedented and not based on any economic textbook. Find out, what concerns such policies raise and what could be the effects of stopping these economic stimuli—this and much more in today’s precious metals podcast with Eric Sprott and Craig Hemke.
by Michael Snyder
End of the American Dream
In recent years we have literally seen millions of Americans relocate from blue states to red states. In some cases, there is simply a desire to be around other like-minded people. In other cases, specific political policies that have been enacted in certain states have motivated large numbers of people to relocate. This was particularly true during the pandemic. Of course there are also many that are just trying to escape the crime, drugs, homelessness and violence that are plaguing so many major cities in blue states. For those that are trying to raise a family, finding a safe environment for their children is often of the utmost importance. As a result of the factors that I have just mentioned, we have been witnessing a “mass exodus” to “Red America” that is unlike anything we have ever seen before. Vast numbers of people have been moving from blue states such as California, New York and Illinois to red states such as Florida, Idaho and Montana…
Private unions have every right to exist, but that doesn’t mean they’re actually beneficial on net.
by Veronique de Rugy
Reason.com
Unions are said to be having a moment. The story goes something like this: Helped by a presidential administration that touts itself as the “most pro-union in history,” labor unions—after decades of decline—are winning big victories against anti-union corporations and extracting impressive concessions for their workers. But is it all true?
There has certainly been a lot of union activity. Last year we witnessed a significant increase in strikes and threats of strikes. According to the Bureau of Labor Statistics, the country lost 16.6 million labor days to work stoppages last year. You have to go all the way back to 2000 to find this level of union disturbance.
In addition, the United Auto Workers (UAW) reached an agreement with Ford that included wage hikes of 25 percent.
by Andrea Widburg
American Thinker
Special Prosecutor Jack Smith has just admitted that he and other DOJ and FBI minions manipulated documentary evidence underlying the Mar-a-Lago case against Donald Trump. Everybody from Judge Aileen Cannon on down realizes this is bad. Still, I wonder how many people have noticed that Smith has admitted to doing what the J6 defendants are accused and have been convicted of doing: Violating 18 U.S.C. § 1512(c)(2). The statutory charges against the J6 defendants are a specious abuse of the law but they perfectly fit Smith’s admitted conduct.
One of the main tools in the DOJ arsenal against anyone near the Capitol on January 6, 2021, is § 1512(c)(2), which the DOJ claims means imprisonment for a person who “corruptly…obstructs, influences, or impedes any official proceeding…” That is what the DOJ claims happened when ordinary Americans (a) exercised their rights of free speech and (b) usually inadvertently, entered onto Capitol land after masked agitators had removed “no trespassing” signage and fencing and after the Capitol police had opened the building’s doors. The penalty is fines and/or imprisonment, with the latter potentially as long as 20 years.
by Dr. Paul Craig Roberts
PaulCraigRoberts.org
Yes, We were told lies about the safety and effectiveness of the Covid “vaccines.”
Chris Cuomo who led the presstitutes in their ignorant attack on Ivermectin is now taking Ivermectin trying to recover from the adverse effects of the Covid “vaccine” that he stupidly took.
Cuomo says the Fauci/Big Pharma/medical establishment attack on the real cure was because there was no profit in Ivermectin. So for profit Big Pharma, its NIH, CDC, and FDA shills, and the corrupt American medical establishment killed and maimed people for money.
Cuomo says, ” We were given bad information about Ivermectin. The real question is, why?”
He then answers his question, saying that the reason Ivermectin was so vehemently rejected was that there was no profit in a drug that was already inexpensive and widely distributed.
by Michael Snyder
The Economic Collapse Blog
Americans are extremely pessimistic about the state of the U.S. economy, and that is really bad news for Joe Biden. Despite the glowing economic numbers that the Biden administration has been relentlessly feeding us, there is an overwhelming consensus among the American people that the economy is rapidly heading in the wrong direction. Prices continue to rise, mass layoffs are happening all over the country, loans are going bad at a staggering rate, homelessness and poverty are spiking, and economic activity is slowing down all around us. According to a poll about the economy that was recently conducted for Newsweek, the percentage of Americans that believe that the economy is going in the wrong direction is twice as high as the percentage of Americans that believe that the economy is going in the right direction…
from Kerry Lutz's Financial Survival Network
Kerry and John Rubino delve into pressing economic issues, predicting a looming crisis driven by rising mortgage rates and increasing retail store closures. They argue the necessity for significant government intervention, similar to the pandemic-era stimulus measures, to mitigate the economic downturn. The conversation also explores the unique challenges facing retailers, especially in California, where lax laws on shoplifting complicate business operations. Additionally, they discuss the controversial “weaponization” of the criminal justice system, suggesting its impact on social order and business environment. Rubino and Lutz propose radical ideas for government restructuring, such as firing government employees in alphabetical order and maintaining only essential workers during crises. They emphasize the importance of essential services, including police, road maintenance, and waste management, referencing similar strategies from Argentina and El Salvador. Political dynamics also take center stage as they speculate on potential vice presidential candidates for Donald Trump, particularly focusing on Ron DeSantis. They consider how political issues, notably abortion, could influence upcoming elections.
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from Kerry Lutz's Financial Survival Network
Kerry and Elliot Kallen discussed a range of topics, including the influence of AI on businesses, the economic cycle and its potential impact on interest rates, and the potential ramifications of autonomous vehicles on various sectors. They explored the potential disruptions and job losses that AI could bring, particularly in the transportation and writing industries, while also highlighting the positive aspects of AI, such as increased efficiency and convenience. They also discussed the potential impact of AI and Bitcoin mining on energy consumption, emphasizing the significance of these factors for the future of energy utilities. Kallen presented a contrarian viewpoint on the economic cycle, expressing skepticism about the likelihood of a recession and the anticipated decrease in interest rates. He referenced his previous predictions and suggested that bond prices may experience only a minor softening. The conversation also touched on the potential future of US mail delivery, with Kallen expressing skepticism about the long-term sustainability of the US Postal Service and advocating for government downsizing. Overall, the conversation delved into the uncertainty surrounding the current economic climate and its potential implications for interest rates and bond prices, as well as the potential impact of AI and autonomous vehicles on various sectors.
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by James Rickards
Daily Reckoning
Most economists don’t believe we could have stagflation today. The prevailing view is that recessions are characterized by higher unemployment and reduced spending, and inflation is triggered by full employment and increased spending and therefore they cannot both happen at the same time.
This prevailing view is wrong, as I explain today. Yet it’s a powerful narrative that blinds most analysts to situations where stagnation and inflation are both happening at the same time.
That’s stagflation and it is emerging today.
The first wing of the stagflation thesis is stagnant growth. This can take the form of an outright recession (two consecutive quarters of declining GDP) or simply slow growth at a rate below the potential growth of a strong economy.
The fact pattern isn’t very cheery; those in charge are actively and directly harming their own citizens and they seem clueless about that fact, or it’s intentional. Which is worse?
by Dr. Chris Martenson
Chris Martenson’s Peak Prosperity
It’s a fact; government policies are driving the cost of housing out of all bounds of decency in Australia (and elsewhere, of course), the new “policies” about ‘risky’ bioresearch are virtually guaranteed to make us all a lot less safe, and hospital policies killed people such as in Bergamo Italy.
Add it all up and our technocratic classes have entirely lost the plotline unless that plot involves harming and killing everyone.
So, what do we do with that information, exactly?
