(Richard Moorhead, The Western Journal) Don’t expect relief at the gas pump any time soon.
Economy
Biden Plans To Cancel $10,000 In Student Debt Per Borrower Ahead Of Midterms
(Tyler Durden) As soon as this weekend, President Biden could announce a plan to cancel $10k in student debt per borrower, according to WaPo, citing three people with knowledge of the matter.
The War on Gold Ensures the Dollar’s Downfall
(Matthew Cortez) Last month was the 89th anniversary of one of America’s biggest blunders on her descent from honest, sound money into weaponized political money: Executive Order 6102.
What China’s Hyperinflation in the 1940s Can Teach Americans
(Lawrence W. Reed) Not so long ago, when the dollar was “as good as gold” and so were many other currencies, economists spoke of paper money that wasn’t connected to a precious metal as “irredeemable,” “inconvertible,” “unbacked” or “fiat.”
World May Have Just ’10 Weeks’ of Wheat Supplies Left in Storage
(Cullen McCue) India recently banned wheat exports, further straining global supplies
Germany’s Top Banking Chief Warns Of Bankruptcy Tsunami Amid Stagflation Threats
(Activist Post) A tsunami of bankruptcies could batter Europe’s largest manufacturing hub as stagflation risks mount due to the conflict in Ukraine and resulting Western sanctions on Russian fossil fuels.
REPORT: “90% of Nations Planning Central Bank Digital Currency”
(Kit Knightly) A new report from the Bank for International Settlements estimates that up to 90% of national central banks are at least in the planning stages for launching a central bank digital currency (CBDC):
The Apocalyptic Global Food Crisis That We Were Told to Prepare for Has Already Started in 2022
(Michael Snyder) There isn’t going to be enough food for everyone this year. We have been waiting for the nightmarish global food crisis that so many have warned us about, but we don’t have to wait for it anymore because it is already here. Millions upon millions of people around the globe will be desperately hungry tonight, but what we are experiencing right now is just the tip of the iceberg because things will be so much worse by the end of 2022. If you don’t want to believe me, hopefully you will believe some of the experts that I quote in this article.
Democrats’ Gas Price Gouging Bill Could Lead to 1970s Gas Lines, Warns Spending Watchdog Group
(Nicholas Ballasy) “The way to create a shortage is by putting a price control in place that encourages people to overconsume and discourages production,” says Patrick Hedger, executive director of the Taxpayers Protection Alliance.
UN Expert Predicts Global Food Crisis May Be 10 Weeks Away
(Madeleine Hubbard) The food supply chain problems may last years, the expert warned
“It’s Going to be Hard to Avoid Some Kind of Recession” – Wells Fargo’s CEO Warns US is Heading Economic Downturn
(Jim Hoft) On Tuesday, Wells Fargo & Co. CEO Charlie Scharf said that there’s “no question” of an economic downturn in the US, and recession will be hard to avoid.
Food Bank Demand Soars (Again) As Inflation Crushes Working-Poor
(Activist Post) The highest inflation prints in four decades have forced some Americans to flood food banks and pantries (again).
Despite Objections, Cities Spending COVID Stimulus $ on Police Surveillance Cameras, License Plate Readers
(B.N. Frank) Many American municipalities – even the ones that don’t officially call themselves “Smart Cities” – have still been installing expensive, privacy invasive, and hazardous “Smart City” technologies. Utility “Smart” meters (electric, gas, and water), “Smart” streetlights, police surveillance tech (see 1, 2) and more! Despite opposition, cities in Northeast Ohio recently decided to use millions from COVID relief funds to purchase more surveillance tech for law enforcement.
Economic World War: Who Benefits And How Much Time Is Left?
(Brandon Smith) I have been warning about an inevitable East vs. West economic war for many years now. The question was never a matter of likelihood, it was always just a matter of timing. When would the most convenient time be for World War III?
Three Reasons Precious Metals Are Getting Hot Among “Financial Preppers”
(JD Rucker) One of the best parts about having a site dedicated to the economy in general and precious metals in particular is that we get to see what draws people to the site. Spikes in traffic follow bad economic news, but the mid-term trends are what we really find interesting. Over the last couple of months, even when there are no new updates on the economy, traffic has been steadily rising.