Author: admin

And the US has started to refill its Strategic Petroleum Reserve (SPR), which had been drained by half to force down the price of crude oil during the spike. But stocks have now increased for the fourth week in a row.” yeah, but what happens when the price of Oil reached a lofty level and the vote stealers decide to sell the reserve again in an attempt to get the price of Oil cheaper, and win them more votes? I’m just saying… 

Nieuwenhuijs’ analysis is headlined “Estimated Chinese Gold Reserves Cross 5,000 Tonnes”

Debt will soon be the answer for many more people.”

The U.S. Federal Housing Finance Agency did not immediately respond to a Reuters request for comment.”

“We are actually going to push more” and will “indeed” inject capital into the bank.”

Or, here’s your snippet: “It is slowly coming clear that the fiat dollar’s hegemony is drawing to a close. That’s what the BRICS summit in Johannesburg is all about — rats, if you like, deserting the dollar’s ship. With the dollar’s backing being no more than a precarious faith in it, it is bound to be sold down by foreign holders. Being only fiat, it could even become valueless, threatening to take down the other western alliance fiat currencies as well.

For those of us steeped in free market economics and with experience of the monetary and economic scene in the 1970s, the possibility of both inflation and recession occurring at the same time is less of a surprise. They called it stagflation, though the Keynesians never managed to reconcile the existence of the two conditions being present at the same time. The error, surely, is in Keynes’s denial of Say’s law, which postulates that we produce to consume. The Keynesian error was to ignore the plain fact that rising unemployment is the consequence of falling production first, so there can never be a general glut of goods in a slump which is the basis of Keynesian assumptions.”

That’s it for today… I had forgetten that on Thursday this week, I won’t be writing, as I’ll be heading to the oncologist’s office, which will be good timing because I’m having lots of bleeding problems with my jaw again… UGH!  I take blood thinners so when I begin to bleed, I bleed! I know that my oncologist will want me to stop taking my blood thinners, and my heart doctor will say no way! So, they’ll have to think outside the box!  Tomorrow night is a StL City soccer match night!  Myself and son, Andrew, will be in attendance… I’ll have to watch what I eat and drink since the next morning bright and early I’ll be at the hospital to see my oncologist! Robert Palmer takes us to the finish line today with his song: Sailing Shoes…. I hope you have a Tom Terrific Tuesday today, and please Be Good To Yourself!

Chuck Butler

While acknowledging that progress has been made and saying the Fed will be careful in where it goes from here, the central bank leader said inflation is still above where policymakers feel comfortable. He noted that the Fed will remain flexible as it contemplates further moves but gave little indication that it’s ready to start easing anytime soon.”

Currently, BRICS members include Brazil, Russia, India, China and South Africa.”

We will have to wait and see if the East is able to further push up the price of gold and weaken the West’s control over the price. If so, gold will become less of a dollar derivative, and take more center stage in the international monetary system”

Michael Nowak, who ran gold and silver trading at the bank, and trader Gregg Smith were sentenced in Chicago by U.S. District Judge Edmond Chang. Nowak received a term of one year and one day while Smith was given two years, the stiffest sentence yet in a recent government crackdown on questionable trading practices.”

One reason Yellen and others may be so blasé about the federal debt is that they believe the Federal Reserve will bail the government out by holding interest rate low enough to keep the federal government’s interest payments to manageable levels This is why, even though the Fed has been raising interest rates, the rates remain well below what they would likely be in a free market. However, the Fed knows it cannot go back to keeping rates at or below zero without causing price inflation.”

Ok, news from down south, and I mean real down south, like in Brazil!  This from Blacklistednews.com “It’s official: the Brazilian Central Bank has announced the introduction of its CBDC (Central Bank Digital Currency). It’s called DREX, the acronym for Digital Real Electronic X (real is Brazil’s currency).

“DREX is coming to facilitate the life of Brazilians. With a new face, our Central Bank Digital Currency project – created and operated by the Brazilian Central Bank – has its own name. Previously called Real Digital, it will provide a safe and regulated environment for new businesses and more democratic access to the benefits of digitalizing the economy for citizens and entrepreneurs.”

While things here in the U.S. aren’t exactly whistling Dixie!  This from Rueters yesterday: “The U.S. government looks “more likely than not” to shut down later this year due to political differences on spending that could temporarily hit economic growth, Goldman Sachs analysts said in a research note.

“At the moment, both types of risks are in play,” Goldman said in the note.”

Maybe this news will help them to come around to thinking correctly… “Mortgage rates jumped Monday, following a rise in bond yields driven by investors’ concerns that high interest rates and inflation will linger longer than expected.

Or, here’s your snippet: “The BRICS Leaders’ Summit is scheduled to begin tomorrow, August 22 in South Africa, which will run through the 24th.

‘Cause of rich men north of Richmond”

The JPMorgan case was part of a crackdown by federal prosecutors on illegal spoofing, where traders place bogus orders to move prices up or down and then quickly cancel them before they can be executed. Smith and Nowak used the technique to manipulate gold and silver prices from 2008 to 2016.”

Depending on the composition of Congress next year, those hearings might bring about not only a restoration of the Glass-Steagall Act (which bans trading houses on Wall Street from combining with federally-insured, deposit-taking banks) but might also put an end to the Fed’s ability to negligently supervise the big banks with one hand, while bailing them out with the other hand, using money it creates out of thin air. (The Fed will report its latest balance sheet tally today at 4:30. It is expected to be close to $7 trillion from the $6.7 trillion it reported last week – which is $2.8 trillion more than it was exactly one year ago. The growth in the Fed’s balance sheet has come as a result of efforts to prop up Wall Street banks.)”

. Earlier this month, Fitch downgraded the U.S. long-term credit rating because of political dysfunction and growing debt loads, a move that was derided by business leaders including JPMorgan CEO