Plus, Your Heating Bills Might Soar by 30% This Winter Welcome to your Sunday digest…my weekly breakdown of the things we’re thinking about and talking about in the Global Intelligence world. First up this week, does China regret banning crypto mining? Recently, the National Development and Reform Commission—China’s top economic planning organization—launched a survey asking the Chinese public for their [Read More] …
The Dollar’s Days Could Be Numbered…
A New Currency System Is Emerging for Global Trade Kmart was a very big part of my childhood. When summertime rolled around, I and my friends in the neighborhood would hop on our bikes and ride 10 minutes or so down College Blvd., and wander through Kmart, looking for the things we needed for whatever we [Read More] …
Is Hyperinflation Coming to America? Janet Yellen Seems to Think So
And now…this: Treasury Secretary Janet Yellen was recently chin-wagging with some international banking boss-men and proffered this headscratcher, per Bloomberg and others: “The biggest surprise in the U.S. economy this year has been inflation. Inflation readings over the past several months have been surprisingly soft.” Surprisingly soft? Your Honor, the people would like to offer up Exhibit 1 as evidence: As one can plainly see, Judge, the witness is gaslighting [Read More] …
Video: What the Global Energy Crisis Means for Your Wallet
The world is in the midst of an energy crisis. At the start of this week, U.S. oil prices climbed above $85 for the first time in seven years. Meanwhile, Europe and Asia are facing electricity blackouts amid soaring demand for natural gas and coal. I sat down with Field Notes Managing Editor Ciaran Madden [Read More] …
Death by Federal Reserve
Higher Inflation Is Coming Next Year… Jerome Powell, the Federal Reserve’s Grand Wizard of Backtrackery, had this to say during a virtual conference with the South African central bank a few days ago: There is a now a greater risk of “longer and more persistent bottlenecks and thus to higher inflation.” Hmmm… Never saw that [Read More] …