Oct 5, 2021
Summary:
As our economy drifts into bankruptcy and financial crisis, we are
experiencing a widespread loss of trust. I sit down and chat with
John Rubino to dissect this, and it seems that we are within a
system and cycle that isn’t working so well anymore. We discuss tax
changes, healthcare issues, debt, and some of the factors that are
ultimately creating a larger controversy.
Highlights:
-There has been a major loss of trust—people are perceiving things
as either dishonesty or incompetence as we drift into bankruptcy
and financial crisis
-Don’t try to change the system; leave it
-The US and Europe are tax havens in some areas
-New York is letting go 70,000 unvaccinated healthcare workers,
which is going to create a massive shortage in healthcare
workers
-When interest rates goes up, that means that market participants
demand them to go up before lending money to anyone
-The yields on US government debts are starting to rise in response
to inflation
-Other countries have to pay more to borrow—dollar denominated
debt
-Many small problems will eventually create a larger energy
crisis
-Energy and food are quite closely related
-Water is also skyrocketing in price—requires energy to get
delivered to your home
Useful Links:
Financial Survival Network
Dollar Collapse
‘Pandora papers’ reveal how world leaders dodge millions in taxes <https://www.rt.com/news/536490-pandora-papers-offshore-tax-leaders/>
NY deploys National Guard to replace 70,000 unvaccinated health
workers
Facebook’s covid fact-checker is funded by vaccine lobby
<https://greatgameindia.com/facebook-factcheck-funded-vaccine-lobby/>
$2.2 million raised for Marine in brig after criticizing Afghan chaos <https://www.theepochtimes.com/2-2-million-raised-for-marine-in-military-detainment-after-criticizing-afghan-chaos_4029325.html>
Look at all the millionaires in Congress <https://twitter.com/LoiteringLogan/status/1444591292390989828?s=20> (1% of Americans are millionaires, but 50% of congressmen are)
Fauci says ‘too early to tell’ if Americans can celebrate Christmas <https://www.zerohedge.com/markets/vaccinated-individuals-can-spread-covid-almost-easily-after-90-days-walensky-warns-over>
If we have time ...
Specter of Treasury rout comes at grim time for emerging markets
<https://ca.finance.yahoo.com/news/specter-treasury-rout-comes-grim-160001422.html>
Ford’s sales improving but still down by 27.4% in the third quarter <https://www.cnbc.com/2021/10/04/fords-sales-improving-but-still-down-by-27point4percent-in-the-third-quarter.html>
German power plant halted after it runs out of coal <https://www.zerohedge.com/energy/german-power-plant-halted-after-it-runs-out-coal>
Evergrande crisis drives China gold buying higher <https://www.birchgold.com/news/china-crisis-gold>
India’s gold imports surge as prices correct ahead of festivals <https://www.gata.org/node/21486>