Read up on how energy prices impact absolutely everything else. Read up about all the plastics and other goods made from petroleum. Fertilizer and food are nothing more than derivatives of energy – rather important ones at that – and energy is indeed life, and the absence of energy is death...
It just happened. Bitcoin just broke out of a two-month bear flag, which I identified back on July 14th (in post #33). It broke out to the downside. Of course, fundamentals always take precedence over technical analysis...
No, the global minimum tax was not included in the Inflation Reduction Act. The tax that Congress enacted is not a universal tax, but applies to only about 200 of the largest corporations that earn more than $1billion in profits. Everyone here is interested in how it would impact them and...
The title of the article is misleading. The narrow exception is only for investors who wish to liquidate and wind down their Russian bond positions. I see no problem with that.
Of course it works -- as long as other nations hold the reserve currency nation accountable. When President Nixon took the USD off the gold standard, the plan was to return to the gold standard after a dollar devaluation. But all the other countries of the world failed to hold the U.S...
It is not gold that would be the next global reserve currency, but a gold-backed currency (or SDRs). The amount of gold that a nation holds is what determines the public's faith in its currency.
That is why Russia and China are stockpiling gold. They want a seat at the table in the new regime.
Personally, I believe that it would be insane to bet on CNY. China is a paper dragon. It has huge economic structural problems. At best, it will have a seat at the table when a new global reserve currency is created, e.g., the inclusion of CNY in the use of SDRs. Read post #20 in this...
No, it is because they wish to participate in the next global reserve currency, whatever that might be. Gold shipments between countries can work as a form of paying for goods, which was the way that it was done hundreds of years ago, but these days that is only a stopgap measure at best.
The simple fact is that there is no other alternative to the USD as the world reserve currency except for gold (at least in some ratio to paper currency) and SDRs (of which the USD would be one currency in the basket of currencies). Any expert who knows anything knows this fact. Why do you...
That stems from the continuing utter incompetence of the Biden Administration. Just to provide a second example, on his first day in office President Biden (selling out to the "environmental" lobby) signed multiple executive orders that immediately turned the U.S. from a net oil exporting...
It is actually much worse than depicted in that video. Most people, unless they are astute observers of international economics, are completely deluded about China's economic potential. Here is an article that I read a few days ago. It aptly summarizes China's various intractable dilemmas...
This comment shows your complete and total ignorance. Greece is once again at the precipice.
https://www.express.co.uk/news/politics/1644484/eurozone-crisis-recession-Greece-italy-debt-levels-bankruptcy-warning
Much of Southern Europe has suffered greatly, for decades, by adopting the Euro...
If Italy goes back to the Lira, then it might go back to old Italy -- which was quite good. The numbers do not lie. Perhaps you are too young to remember -- or perhaps you have not looked at the data.
https://www.ineteconomics.org/perspectives/blog/how-to-ruin-a-country-in-three-decades
I have never joined any social media platforms. I saw it for what it was at the very beginning. As it turns out, it has already became far worse than I ever imagined. This forum is about as close as I get to interacting with people on the internet. And after interacting with some of the...
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