Inflation

The Swiss newspaper Le Temps published on October 6 an exclusive piece of information that did not get the coverage it deserved: the International Monetary Fund (IMF) knew as early as 2016 that the Lebanese banking system was going to collapse, but the central bank and its governor, Riad Salamé, had the fourteen pages of the report that anticipated the disaster deleted.

We have entered the cycle of stagflation, which combines a continuous rise in prices and a slowing down of economic activity, precisely because of these sudden losses of purchasing power.

Egon von Greyerz and Matthew Piepenburg exchange thoughts on the real vs. surreal financial system. They specifically address the blunt reality of unimaginable debt levels, tanking GDP growth, rising inflation, negative-yielding bonds and declining consumer sentiment against a current environment of engineered market highs, SPAC and crypto mania and the semantic fantasy of policy makers pretending inflation is “transitory” rather than an unspoken and deliberate necessity.

The Fed is trapped and can't raise rates. Tavi Costa firmly believes commodities, silver and the silver miners are primed to move higher.

Because of the size of the bubble, the implosion will be greater than any time in history. In such a depression everyone will suffer greatly, even gold holders. But just as in any crisis in history, physical gold will serve as the best insurance you can own.

Governor Adam Glapinski - the head of the country's central bank, the National Bank of Poland - plans to increase gold reserves by 100 tons next year to strengthen country’s financial stability.

After the Kaplan scandal, the Fed is fighting against another case of suspected insider trading this week. This time, the case concerns the trades made by the vice-president of the U.S. central bank, Richard Clarida. Clarida traded millions of dollars out of a bond fund into stock funds one day before Chair Jerome Powell issued a statement flagging possible policy action as the pandemic worsened, his 2020 financial disclosures show.

Evergrande has what it takes to bring down the real estate house of cards. The equivalent of $300 billion in debt could have a major impact on world finances, and it is not impossible that China will not bail it out.

The ECB is building a Potemkin village of European public debt, to keep up appearances, hoping that inflation will not undermine the whole thing...

We are rapidly heading for the end of the fiduciary currencies, and it’s not that they are a bad idea in theory, it’s quite simply because our political regimes have shown themselves to be incapable of managing them.