I was making this point during our talk, on Saturday.
Capitalism on Life Support…Time for a Cure
April 24, 2020
The Covid-19 pandemic is unleashing obscene bailouts of Western industries and companies, as well as lifelines for billionaire business magnates.
It is grotesque that millions of workers are being laid off by corporations which are in turn receiving taxpayer funds. Many of these corporations have stashed trillions of dollars away in tax havens and have contributed zero to the public treasury. Yet they are being bailed out due to shutdowns in the economy over the Covid-19 crisis.
Why aren’t the banks and corporations being forced by governments to pay for their workers on sick leave or in lockdown? It’s because the governments are bought and paid-for servants of the top one per cent. Some political leaders are the embodiment of the one per cent, like Donald Trump and senior members of the U.S. Congress.
The biggest orgy of funny money is seen in the U.S. where the Trump administration and Congress have approved the printing of trillions of dollars to prop up corporations and banks. Meanwhile crumbs are being thrown at millions of workers and their families.
With the way the world is printing money what do people think the next couple of years will bring?
Since Inception, The Euro Has Devalued 85% Against Gold
April 27, 2020
Technically, the euro was launched on January 1, 1999, although euro notes and coins started circulating in January of 2002.
The first gold price recorded in 1999 was €7,879 euros per Kg – or €7.88 euros per gram (we’ll use euros per gram as the gold price in the remainder of this article). By now, the gold price has crossed €51 euros per gram. A new all-time high.
CIGA Werner checks in with a very interesting inflation adjusted chart.
Werner with historical hyperinflation numbers. With all the current central bank printing, the past looks to be prologue and a new category “the world” may enter this list of shame!
Food for thought.
‘The Food Supply Chain Is Breaking.’ Tyson Foods Warns Of Meat Shortage As Plants Close Due To COVID-19
April 26, 2020
Tyson Foods, one of the U.S.’s biggest meat processors, didn’t mince words in a full page New York Times spread that ran Sunday, in which they warned, “the food supply chain is breaking.”
“As pork, beef and chicken plants are being forced to close, even for short periods of time, millions of pounds of meat will disappear from the supply chain,” John Tyson, Chairman of the Board of Tyson Foods, wrote in a letter published as an advertisement. “As a result, there will be limited supply of our products available in grocery stores until we are able to reopen our facilities that are currently closed.”