Ukraine Drone Strikes Score Direct Hits On Two More Russian Oil Depots
Ukraine Drone Strikes Score Direct Hits On Two More Russian Oil Depots An overnight Ukrainian cross-border drone attack impact several regions of Russia, resulting in the death of a civilian woman in the Krasnodar region, and setting several oil depots ablaze in other areas. A Russian defense ministry statement Thursday described “terrorist attacks” which involved groups […]
A Most Dangerous Assumption: Mining The Future To Spend More Today
A Most Dangerous Assumption: Mining The Future To Spend More Today Authored by Charles Hugh Smith via OfTwoMinds blog, What the cheerleaders are actually claiming is the process of adding zeroes to “money” is limitless, but there are limits on the utility of devaluing currency, too. How prosperous would the world be if we hadn’t […]
WTI Extends Gains After Surprise Crude Inventory Draw; Pump-Prices Set To Soar
WTI Extends Gains After Surprise Crude Inventory Draw; Pump-Prices Set To Soar Oil prices continue to extend their gains as “price-supportive rhetoric” from OPEC and its allies forced algorithmic traders to switch from short to long as oil prices have tracked financial assets higher in recent weeks. “Today we are waiting for the inventory data,” […]
CBO Report: U.S. National Debt to Exceed $56 Trillion by 2034
A Congressional Budget Office report projects that the U.S. national debt will exceed $56 trillion by 2034, up from just under $35 trillion currently. The growing debt is fueled by higher spending than tax revenues, with a $1.9 trillion deficit expected in 2024. Key contributors to the rising deficit include student loan debt cancellation, aid […]
Ex-OpenAI Chief Scientist Launches SSI To Focus On AI ‘Safety’
Ex-OpenAI Chief Scientist Launches SSI To Focus On AI ‘Safety’ Authored by Derek Andersen via CoinTelegraph.com, Co-founder and former chief scientist of OpenAI, Ilya Sutskever, and former OpenAI engineer Daniel Levy have joined forces with Daniel Gross, an investor and former partner in startup accelerator Y Combinator, to create Safe Superintelligence, Inc. (SSI). The new […]
Goldman Sachs Recommends Gold to Mitigate Inflation Risk from U.S. Elections
Goldman Sachs strategists suggest that gold can hedge against inflation risks linked to a Republican sweep in upcoming U.S. elections, citing potential higher import tariffs, reduced immigration, tighter Iranian oil sanctions, lower taxes, and possible influences on Fed policy. A Democratic sweep could also pose risks due to potential significant corporate tax increases.
The Real Story Behind China's Gold Demand and Reserves
Despite speculation that China’s People’s Bank of China (PBOC) drove gold prices to an all-time high in May, its official gold reserves, though growing, are not exceptionally large compared to other countries. China’s gold reserves constitute less than 5% of its total forex reserves. However, China remains the world’s largest gold importer and producer, highlighting […]
“Insane”: Senate Dems Blasted For Adding Women To Draft
“Insane”: Senate Dems Blasted For Adding Women To Draft Out of the hundreds of conservatives hunted down by the Biden DOJ, social media influencer and shitposter extraordinaire Douglass Mackey‘s case was particularly absurd. During the 2016 election, Mackey promoted internet memes suggesting that people could vote through text messages (as opposed to unsecured dropboxes) – […]
History Warns: Recession Looms as Fed Maintains High Interest Rates
Despite falling inflation and reduced consumer spending, the Federal Reserve decided not to lower interest rates on June 12, raising concerns about a potential recession. Historically, restrictive credit policies have led to economic downturns, hurting ordinary people reliant on credit. Policymakers should heed past lessons that deflation is more dangerous than inflation and consider low […]
World Gold Council Survey: 29% of Central Banks to Increase Gold Holdings in 2024
The World Gold Council’s 2024 survey reveals that central banks plan to continue increasing their gold reserves amid a complex geopolitical and financial environment. In 2023, central banks added 1,037 tonnes of gold, following a record 1,082 tonnes in 2022. The survey, conducted from February to April 2024, shows 29% of respondents intend to boost […]