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The Financial Equivalent of the Death Star’: US Lawmaker Blasts the Fed for Looking into Building What He Calls an ‘Orwellian-Style Payment System’ — Here’s Why He’s Upset

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A U.S. lawmaker has accused the Federal Reserve of quietly working on a central bank digital currency (CBDC) — which he likens to “building the financial equivalent of the Death Star.” Rep. Warren Davidson of Ohio believes it would create similar authoritarian powers for the nation’s central bank to “corrupt … [coerce] and control” Americans […]

The Financial Equivalent of the Death Star’: US Lawmaker Blasts the Fed for Looking into Building What He Calls an ‘Orwellian-Style Payment System’ — Here’s Why He’s Upset Read More »

US Debt Crisis Could Ignite long-term Gold Rally – BCA Research

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Fitch Ratings surprised markets after it downgraded U.S. long-term debt. Although markets largely shrugged off the downgrade, it has brought attention to the U.S. government’s growing deficit. In a recent report, commodity analysts at Montreal-based BCA Research said that gold remains an attractive hedge against an inevitable devaluation in the U.S. dollar as the U.S.

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Big Brother and the Digital Dollar

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President Biden signed an executive order last year urging government agencies to research a potential central bank digital currency. CBDCs are a despotic innovation, of the sort that have besieged us during the past five years—lockdowns, mask and vaccination mandates, “antiracism” policies, “green new deals,” projects to suppress “misinformation” and so on. Only more recently has it

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As Inflation Under Biden ‘Bites’ US Consumers, Former Toys ‘R’ Us CEO Makes Dire Retail Prediction

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“When that comes this fall, I believe it’s going to be a very difficult holiday season, certainly challenging for most retailers,” former Toys “R” Us CEO Gerald Storch said.  “Every report we hear from retailers out there is that consumers are stressed, they’re reluctant to buy goods. “When you adjust for inflation, sales of physical

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Is the Dollar Being Dethroned? India Just Bought 1M Barrels of Oil from the UAE Using Rupees Instead of USD for the First Time Ever — Why This Could Spell Doom for the Greenback

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Indian Oil Corp. used the local rupee to buy one million barrels of oil from the Abu Dhabi National Oil Company — not the U.S. dollar. First, the two giants agreed to settle trade in their local currencies — in an effort to cut transaction costs and eliminate dollar conversions. India and the UAE are

Is the Dollar Being Dethroned? India Just Bought 1M Barrels of Oil from the UAE Using Rupees Instead of USD for the First Time Ever — Why This Could Spell Doom for the Greenback Read More »

US National Debt Tracker: See How Much the Government Obligations Cost

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In the two months since then, the national debt — which measures what the U.S. owes its creditors — has surged to roughly $32.69 trillion as of Friday afternoon. The unrelenting increase is what prompted Fitch Ratings to issue a surprise downgrade of the nation’s long-term credit score in early August. “America’s fiscal outlook is more dangerous and daunting

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Ominous News as 401(k) Hardship Withdrawals Rocket

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The number of people making “hardship” or emergency withdrawals from their 401(k) plans is soaring despite low unemployment and rising real wages… Withdrawals in the April-to-June second quarter leaped an astonishing 36% compared to the same three months a year earlier… Investment giant Vanguard, which recently revealed that hardship withdrawals among its clients “hit a new

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De-Dollarization Will Be a Vicious Cycle as Hyperinflation Leads to Higher Rates That Will Further Erode the Greenback’s Power, Think Tank Says

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De-dollarization could lead to a vicious cycle of economic destruction, according to an Australian economic think tank. That’s because waning use of the dollar could bring on hyperinflation, researcher Michael Roach said. Hyperinflation could lead to higher interest rates, which will weigh on asset prices, according to Roach. This outlook is furthered by speculation that

De-Dollarization Will Be a Vicious Cycle as Hyperinflation Leads to Higher Rates That Will Further Erode the Greenback’s Power, Think Tank Says Read More »

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