In The News Today

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Bill Holter’s Commentary

What could possibly go wrong?

Is The Crypto Threat To U.S. Financial Stability $889 Billion Or $10 Trillion?

Yesterday, Benzinga reported on a curious statement made by Fed Chair Jerome Powell during his appearance before the Senate Banking Committee on Wednesday. Powell was asked by Senator Kyrsten Sinema (D-AZ) if the Fed had been tracking the events in the crypto markets in the past several weeks. Powell responded that the Fed was watching those events “very carefully” but the Fed “did not see significant macro-economic implications.” The article goes on to lend credence to this observation from the Fed by noting the following:

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Bill Holter’s Commentary

This is very real, and yet even today Jay Powell states to Congress there is no threat to the dollar’s reserve status.  Do you see this news anywhere on mainstream media?  No?  That is verification enough for me …

Putin: New Reserve Currency Proposed Within BRICS

Russia’s Vladimir Putin unveiled a new scheme of international settlements, moving further away from the US financial system. In an address to the BRICS Business Forum Wednesday, he proposed a new reserve currency that will be used for payments in international trade.

Putin said the new payment method will be based off the basket of national currencies of BRICS member states: Brazil, Russia, India, China (PRC), South Africa and Russia. He then noted trade in goods and services within the bloc has surged in recent months amid failed Western sanctions.

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Bill Holter’s Commentary

So let me get this this straight, those running this country actually believe the way to reduce inflation is to borrow and spend more?

Biden Economic Adviser Asserts That More Government Spending Will Solve Inflation Crisis

Biden’s “Build Back Better” efforts have been a phenomenal failure so far, but maybe that’s because Americans just don’t understand a good thing when they see it?

This has been Biden’s argument on the state of the economy lately, as he persistently argues that there is no threat of recession because the US jobs market still “strong.”  There is no mention from the White House regarding the fact that covid stimulus spending artificially drove up retail demand and created a temporary spike in jobs.  If they were to admit that layoffs are about to ramp up because the covid checks are gone and people’s credit cards are maxed out because of inflation, then Biden would have nothing left to brag about.    

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Bill Holter’s Commentary

So coal is the new “green”?

Germany Triggers ‘Alert Level’ of Emergency Gas Plan, Sees High Risk of Long-Term Supply Shortages

Germany has declared it is moving to the so-called “alert level” of its emergency gas plan, as reduced Russian flows exacerbate fears of a winter supply shortage.

Economy Minister Robert Habeck announced on Thursday that Germany would move to stage two of its three-stage plan. It means Europe’s largest economy now sees a high risk of long-term gas supply shortages.

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