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Goodbye Petrodollar

Gold Breaks All-Time Record and It’s All About Currency Debasement

The dollar is now at its all-time low compared to gold

Michael Maharrey 29 Jul 20 1034 0

Lockdown Cost

More Than Half of US Temporary Lockdown Business Closures Are Now Permanent

Of the 130,000 restaurants, stores, salons and gyms in Yelp's database that initially closed down temporarily 70,000 are now closed for good

Olivia Rockeman 28 Jul 20 838 0

LockdowngeddonStay Classy MSM

Media Continues to Misreport US Jobless Numbers: 32 Million — 20% of the Labor Force — Are on Unemployment

Has been in the neighborhood of 30 million for 9 weeks now — was 2 million before shutdowns

Wolf Richter 24 Jul 20 330 0

The Medical Fascism Grift

US Orders up to 600 Million Doses of Pfizer COVID Vaccine

"Need for repeated use would be the game changer”

James Paton 23 Jul 20 697 0

This Is a Financial Extinction Event

"The lower reaches of the financial food chain are already dying, and every entity that depended on that layer is doomed"

Charles Hugh Smith 21 Jul 20 1329 0

Trade War Joys

Japan Is Giving Companies Money to Move Out of China

$2.3 billion in 2020

Nikkei Asia Review 20 Jul 20 591 0

EU Tells US: Stop Threatening Our Companies With Sanctions

Trump admin has signaled it will sanction companies which helped build Nord Stream 2

Raf Casert 18 Jul 20 604 0

US Blackmail to Cost Britain a 2 Year Delay in Setting Up 5G Network

London is weary of working with a heavily US-sanctioned company -- but the UK losses as much if not more as Huawei

James Woudhuysen 16 Jul 20 466 0

The Dollar “Has Us by the Throat”: Chinese Party Official Urges Decoupling

“By taking advantage of the dollar’s global monopoly position in the financial sector, the US will pose an increasingly severe threat to China’s further development”

Tyler Durden 16 Jul 20 1030 0

America’s Budget Deficit for the Month of June Was Greater Than the Entire 2018 Deficit

Nearly a trillion dollars short in just one month out of twelve

SchiffGold 15 Jul 20 341 0

The Great American Shale Massacre: Bankruptcies, Defaulted Debts, Worthless Shares, Collapsed Price

$262 billion has evaporated so far, $55 billion just this year

Wolf Richter 13 Jul 20 1641 0

Empire Woes

America’s Budget Revenue Covered Just 173 Days of Its 2020 Spending

The other 193 days of federal spending accrues directly to debt

Schiff Gold 7 Jul 20 352 0

Our Benevolent EmpireSyria Under Siege

US Ambassador Informs Power-Starved Lebanon Importing Electricity From Syria Is “Banned”

Ya Libnan 7 Jul 20 935 0

Rogue State USAVenezuela Under Siege

US Seeks to Seize Iranian Fuel Tankers to Venezuela

Bolton gone but Boltonism very much alive in the Trump admin

Jason Ditz 7 Jul 20 673 0

Want to Kill the Economy Again? Keep Threatening More Lockdowns

"We live in a world where a politician can simply decide to shut down businesses whenever the mood strikes him"

Ryan McMaken 5 Jul 20 2741 0

Weekend Reading

How China Can Escape the Fate of a Dollar Collapse by Tying the Yuan to Gold

"China must be seen to be protecting her own interests by returning to sound money and not deliberately undermining the dollar"

Goldmoney Insight 5 Jul 20 739 0

BubblegeddonLockdown Stone Age

Continued Unemployment Claims in the US Rise by Another 1 Million, Now at Eye-Watering 31.5 Million

Four months ago this number was 2 million

Wolf Richter 4 Jul 20 1107 0

Lockdown Stone Age

Lockdown Stone Age: Virus Cultists Shrank World Trade 30 Percent

Crime against humanity

Wolf Richter 3 Jul 20 495 0

Almost Half of the US Population Does Not Have a Job

Forget the 1950s stay-at-home mom era. The US in 2020 has lower employment than even then

Dion Rabouin 30 Jun 20 662 0

The Greater Depression

Subtrack the “Giant 5” and the US Stock Market Hasn’t Made Gains Since January 2018

All that monetary fraud and it's still a ride to nowhere

Wolf Richter 29 Jun 20 408 0

Lockdown Stone Age

UK & Euro Area to Lose 10% of GDP This Year, 2021 to Make Up for Just Half of It

France, Spain, Italy to lose over 12%

James Tapsfield 27 Jun 20 261 0

BubblegeddonCovid Stone Age

Despite Re-Opening Continued Unemployment Claims in US Rise by 1.3 Million, Now at 30.55 Million

Service industry workers returning but now corporate and public sector lay offs start ⁠— real unemployment at over 20%

Wolf Richter 27 Jun 20 396 0

India Blocks Imports of US Products Made in China Following Deadly Border Clash

RT 26 Jun 20 612 0

Our Benevolent EmpireVenezuela Under Siege

Oil Tankers Carrying Two Months of Venezuelan Output Stuck at Sea

Full of oil, but no country will buy for fear of the US

Marianna Parraga 25 Jun 20 939 0

The Covid Rouge

Nearly Half of Americans Consider Selling Home as Shutdown Crushes Finances

Lockdowns? Great idea!

Tyler Durden 22 Jun 20 775 0

Covid Stone Age

Oil Is Back at $40, but US Production Is Down 20% From Peak

Price has more to do with decline in OPEC+ and US production (and China filling up its storage) than a speedy lockdown recovery

Mike “Mish” Shedlock 22 Jun 20 320 0

Asian Century Began in May 2020

Region has emerged as an economic zone as closely integrated as the European Union

David Goldman 21 Jun 20 1243 0

China’s Economic Rebound Continues, but Slower Than Expected. Might Hit 2% Growth for 2020

Even China is not managing a V-shaped recovery

Guo Yingzhe 20 Jun 20 298 0

Bubblegeddon

The Fed’s Casino Is in Flames, but Please Continue Gambling

"The pool of greater fools is drying up, and so the Fed has been forced to start buying its own gambling chips directly. This is an act of complete desperation"

Charles Hugh Smith 20 Jun 20 633 0

Lockdown Cost

Economic Ministry Forecasts Russia Won’t Climb Back to Pre-Lockdown Levels Until Late 2022

GDP will be 5% lower in 2020

Ben Aris 19 Jun 20 232 0

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