We’re staring at a multi-faceted catastrophe unlike any we’ve seen before... and the time to prepare is short.
Did you know the interest on the federal debt is now higher than the defense budget—and on track to surpass Social Security to become the government’s biggest expense?
The US is fast approaching a breaking point.
When governments find themselves cornered like this, they have no choice but to "reset" the system.
History shows us that these resets often involve massive wealth transfers—from hardworking savers like you to the political and financial elites.
We believe this reset could be closer than anyone expects.
Since the gold standard was removed from currency issuance, the fiat currency that is currently in circulation is no longer exchangeable for any tangible asset or commodity but is instead backed by a guarantee that the government is “good for it” via its taxing authority and/or other means. Therefore, currency transition to “legal tender” or fiat currency renders money in circulation with no intrinsic value beyond the word of its issuer, thus allowing the issuer to create money at will.
There's an inclination on the part of people to blame the producers of products—the butcher, the baker, and the gasoline maker—but that's actually very silly, insofar as these people create real wealth.
They're fighting the effects of government inflation, which doesn't create anything but fiat currency and fiat credit, which is what actually takes the prices higher. Inflation of the currency, which is to say an increase in the amount of purchasing media above the increase in real wealth. It's what inflation is all about; it's the State subtly stealing capital and wealth from individuals.
The big problem with the depreciation of the dollar is that producers are blamed for being the problem. They're the solution to the problem in that they create real wealth. The real enemy here is the State and its central bank, the Fed.
The U.S. dollar is the world’s primary reserve currency, and it is also the most widely used currency for trade and other international transactions. Its hegemony gradually came into question in recent times due to geopolitical and geostrategic shifts. De-dollarization entails a significant reduction in the use of dollars in world trade and financial transactions, decreasing national, institutional, and corporate demand for the greenback. De-dollarization would shift the balance of power among countries, and this could, in turn, reshape the global economy and markets.
"Today, we take a big step towards the de-dollarisation and facilitation of economic relations between Iran and Russia."
Tehran, Nov.12.– Iran and Russia linked their national payment systems on Monday, a significant move to bypass the US dollar in bilateral transactions, Iran’s official news agency IRNA reported.
The oil industry makes significant fiscal contributions to California’s state and local governments, including $21.6 billion in state and local tax revenues and $11 billion in sales tax, $7 billion in property taxes, $1 billion in income taxes and $96 million in Department of Conservation’s Geologic Energy Management Division (CalGem) assessments. California produces between 250,000 and 300,000 oil barrels daily, helping the United States avoid importing oil.
California’s state legislature is determined to eliminate fossil fuel as soon as possible, with oil at the top of the list. This goal is shared by the Governor and Attorney General, along with leadership and staff at every one of the many state agencies that collectively regulate the industry. But even if this goal is necessary and desirable, which is debatable, the methods being employed to achieve it are flawed.
To begin with, and this can’t be repeated often enough, California still depends on petroleum for 50 percent of its total energy, and natural gas for another 30 percent. Dependence on gasoline is proving difficult to reduce, as California’s EV sales are leveling off, with 2024 likely to show no growth over 2023. And even after years of dramatic year-over-year sales growth, EVs still comprise less than 5 percent of California’s total registered vehicles.
It’s possible that at the present level of price and performance, most of the consumers who want to purchase EVs have already done so. It’s also not clear that we will have achieved adequate generating, charging, and transmission infrastructure by the time the percentage of EVs on the road doubles or triples, much less becomes the majority of vehicles.
El Presidente Milei prometió durante su campaña que buscaría implementar un plan económico centrado en reducir el tamaño del Estado, desregular el mercado laboral, reducir los impuestos y bajar el gasto público, combatiendo la corrupción y mejorando la economía en el proceso.
La prima de riesgo se desploma en Argentina y la inflación cae a mínimos de tres años.
El plan Milei sigue dando sus frutos, al menos, en lo que a economía financiera se refiere. Los mercados financieros, a través de las decisiones de los inversores, están llevando a que el riesgo país de Argentina (conocida como prima de riesgo en Europa) caía niveles no vistos desde hace años.
El plan Milei, basado en recortes de gasto, desregulación y atracción de inversión internacional, está sorprendiendo a los mercados. Aunque la economía real sigue sufriendo con intensidad esta política (es el coste de corto plazo), la economía financiera está despertando con más intensidad de lo esperado. El último dato que ha impulsado el precio de los bonos argentinos en los mercados fue el de inflación. El IPC publicado el pasado viernes arrojó que la inflación mensual en Argentina ha caído por fin por debajo del 4%, lo que fue acogido con gran entusiasmo entre los inversores.