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Ukraine conflict may portend end to current world trading system
Ukraine conflict may portend end to current world trading system At the beginning of nearly every war including the current one in Ukraine, there are those who loudly declare that it will be over shortly and then business-as-usual can resume. They are rarely right. While no one can say for certain what the trajectory of the Russian-Ukrainian […]
Putin’s energy shock is becoming a world food crisis. Brace for rationing.
Putin’s energy shock is becoming a world food crisis. Brace for rationing. The world was facing a grain supply crunch even before Putin’s invasion of Ukraine. The United Nations food price index was already higher in real terms than at the height of the global hunger crisis a decade ago, when Tunisian bread protests set […]
Yanis Varoufakis: We Are Living in a Post-Capitalist, Techno-Feudalist Dystopia
YANIS VAROUFAKIS: WE ARE LIVING IN A POST-CAPITALIST, TECHNO-FEUDALIST DYSTOPIA World-renowned Greek economist, author, and politician Yanis Varoufakis argues that global capitalism as we know it is dying—and something much worse is taking its place. Yanis Varoufakis speaks with This Is Revolution co-hosts Jason Myles and Pascal Robert. Screenshot/TRNN From the push to turn more […]
When normality is exposed as a Ponzi
When normality is exposed as a Ponzi Putin’s hubris, yes-men for generals, lack of fighting conviction among the men, poor logistics and strong Ukrainian leadership and determination have combined to turn the Russian invasion of Ukraine into a military quagmire. Meanwhile, the West has upped the stakes in a financial war. The underlying assumption is […]
FRA-OIS Explodes: Here Is The Only Chart Powell Is Closely Watching, And Why It Is Soaring
FRA-OIS Explodes: Here Is The Only Chart Powell Is Closely Watching, And Why It Is Soaring Some were quick to mock repo guru and former NY Fed staffer Zoltan Pozsar when he warned that the unexpected western blockade of Russia had the feel of a Lehman weekend, because virtually nobody had any idea what the forced exclusion […]
Two Oil Price Scenarios: One Bad, And One Catastrophic
Two Oil Price Scenarios: One Bad, And One Catastrophic Another day, another record discount for Russian Urals crude, which was offered at a price more than $22 below spot by oil trader Trafigura and still could find no giant… … confirmed what we previously observed, namely that the commodity world is splitting in two: a bidless market for Russian […]
Who’s Got the Gold?
Who’s Got the Gold? In 1971, the US abruptly went off the gold standard, and in making the public announcement, US President Richard Nixon looked into the television camera and said, “We’re all Keynesians now.” I was a young man at the time and had previously bought gold, albeit on a very small scale, but […]
The second Cold War is here — and supply chains will be the front lines
The second Cold War is here — and supply chains will be the front lines Entire supply chains will be rewritten, creating massive volatility and unpredictability (Photo illustration by Shutterstock) We are witnessing the remaking of the world order in front of our eyes — and this will impact global supply chains in unforeseen ways. […]
Zoltan Pozsar Warns Russian Sanctions Threaten Dollar’s Reserve Status
Zoltan Pozsar Warns Russian Sanctions Threaten Dollar’s Reserve Status Over the weekend, the world gasped in shock when Western powers announced that the nuclear option would be used against Russia in retaliation for its invasion of Ukraine – sanctions against the country’s central bank and targeted expulsions of key banks from SWIFT, a move which […]
“Game Over?” – Russia To Be In Technical Default Within Hours
“Game Over?” – Russia To Be In Technical Default Within Hours More than two decades ago, on August 17, 1998, Russia defaulted on its debt and devalued the ruble, sparking a political crisis that culminated with Vladimir Putin replacing Boris Yeltsin and which also eventually resulted in the spectacular implosion of a then little known […]
“The Market Is Starting To Fail”: Buyers Balk At Russian Oil Purchases Despite Record Discounts, Sanction Carve Outs
“The Market Is Starting To Fail”: Buyers Balk At Russian Oil Purchases Despite Record Discounts, Sanction Carve Outs While in their unprecedented broadside of sanctions on Russia, the U.S. and Western allies went out of their way to spare Russian energy shipments and keep economies humming and voters warm, the oil market has gone on […]
Here’s Why Our Monetary System is a Giant Ponzi Scheme
Here’s Why Our Monetary System is a Giant Ponzi Scheme Ponzi schemes keep going until the perpetrator is stopped from the outside. They never stop by of their own volition. Bernie Madoff kept going until it all blew up. In the year 2000 the Nasdaq composite exceeded a P/E of 200 before collapsing 78% by […]
China To “Immediately” Replenish Pork Supplies As World Short Commodities
China To “Immediately” Replenish Pork Supplies As World Short Commodities China’s top economic planner, the National Development and Reform Commission (NDRC), announced Monday to “immediately” increase pork stockpiles around the country after prices fell last week, according to Bloomberg. NDRC said the country’s staple meat stockpiles are being replenished as an index monitoring pork prices […]
US Bans Transactions With Russian Central Bank, Freezing Nearly Half Of Russia’s $630BN In Reserves
US Bans Transactions With Russian Central Bank, Freezing Nearly Half Of Russia’s $630BN In Reserves Following in the footsteps of Europe, on Monday the Biden administration banned U.S. people and companies from doing business with the Bank of Russia, the Russian National Wealth Fund and the Ministry of Finance. The moves by the U.S. Treasury’s […]
All Hell Breaks Loose As Global Markets Open: Stocks Crash, Oil & Gold Surge
All Hell Breaks Loose As Global Markets Open: Stocks Crash, Oil & Gold Surge Update (1800ET): As expected – all hell breaks loose in global markets as futures open… US equity futures are down 3% at the open – erasing all of Friday’s melt-up… The Euro is plunging… Bitcoin was already sliding into the open… Treasuries […]
