"The average retail price of No. 2 highway diesel spiked to $5.51 per gallon at the pump on Monday May 2, the highest ever...
...On a year-over-year basis, the price of diesel has now jumped by $2.37 per gallon, or by 75%!"
Literally EVERYTHING requires diesel in our economy. What happens to the price of everything else when diesel prices are rising exponentially?
Join our discussion group: t.me/BankrunCanada
...On a year-over-year basis, the price of diesel has now jumped by $2.37 per gallon, or by 75%!"
Literally EVERYTHING requires diesel in our economy. What happens to the price of everything else when diesel prices are rising exponentially?
Join our discussion group: t.me/BankrunCanada
https://www.zerohedge.com/markets/game-markets-season-3-after-meltdown
"Consider May 2022 to be the opener for Season 3 of Game of Markets...
...the financial powers-that-be are trying to juggle flaming torches, chainsaws and vials of the latest Bird Flu. If they drop any of them… Messy. Never have the risks of policy mistakes appeared so high…"
In other words, things are about to get unglued. The Federal Reserve will release their decision on interest rates tomorrow so get ready for some fireworks in the markets. Will they raise rates by 50 or 75 bsp? Either way, stagflation is on the menu.
Join our discussion group: t.me/BankrunCanada
"Consider May 2022 to be the opener for Season 3 of Game of Markets...
...the financial powers-that-be are trying to juggle flaming torches, chainsaws and vials of the latest Bird Flu. If they drop any of them… Messy. Never have the risks of policy mistakes appeared so high…"
In other words, things are about to get unglued. The Federal Reserve will release their decision on interest rates tomorrow so get ready for some fireworks in the markets. Will they raise rates by 50 or 75 bsp? Either way, stagflation is on the menu.
Join our discussion group: t.me/BankrunCanada
ZeroHedge
'Game Of Markets' Season 3: After The Meltdown
What if we are really just living in some massive alternative reality computer program...
🔥2
https://www.metro.us/czech-central-bank-surprises-2/
We have more central banks raising interest rates. The Czech central bank raised their rate by a bigger than expected 75 bsp on Thursday May 5.
"...soaring inflation, at 12.7% year-on-year in March, have dented confidence and led to a cut in forecasts for economic growth...
...The baseline forecast saw inflation peaking at 15% in June, and falling to the bank’s targeted range of 2% +/- 1 percentage point in the third quarter of 2023."
What kind of an idiot is making these predictions. They see inflation rising to 15% this June and then it will magically fall to 2% +/- 1% by end of next year? What a joke!
Join our discussion group: t.me/BankrunCanada
We have more central banks raising interest rates. The Czech central bank raised their rate by a bigger than expected 75 bsp on Thursday May 5.
"...soaring inflation, at 12.7% year-on-year in March, have dented confidence and led to a cut in forecasts for economic growth...
...The baseline forecast saw inflation peaking at 15% in June, and falling to the bank’s targeted range of 2% +/- 1 percentage point in the third quarter of 2023."
What kind of an idiot is making these predictions. They see inflation rising to 15% this June and then it will magically fall to 2% +/- 1% by end of next year? What a joke!
Join our discussion group: t.me/BankrunCanada
Metro US
Czech central bank surprises with big rate hike, says more may come
By Jan Lopatka and Robert Muller
🔥2
Did you know that...
"All Gulf countries have their currencies pegged to the U.S. dollar, except Kuwait, which pegs the Kuwaiti dinar to a basket of currencies that includes the dollar"?
https://www.nasdaq.com/articles/gulf-central-banks-raise-rates-as-fed-hikes-by-50-bps
Join our discussion group: t.me/BankrunCanada
"All Gulf countries have their currencies pegged to the U.S. dollar, except Kuwait, which pegs the Kuwaiti dinar to a basket of currencies that includes the dollar"?
https://www.nasdaq.com/articles/gulf-central-banks-raise-rates-as-fed-hikes-by-50-bps
Join our discussion group: t.me/BankrunCanada
Nasdaq
Gulf central banks raise rates as Fed hikes by 50 bps
Gulf central banks hiked their main interest rates on Wednesday as the U.S. Federal Reserve raised its target policy rate by 50 basis points in the face of inflation at highs not seen in decades.
https://wolfstreet.com/2022/05/09/gasoline-diesel-prices-spike-to-new-wtf-records-but-dont-blame-crude-oil/
"Unlike gasoline, diesel doesn’t impact most consumers directly at the pump; it hits them indirectly. This price spike adds cost pressures on truckers who pass them on essentially to everything that is moved by truck, namely just about all goods sooner or later, and to whoever ends up paying for those goods, thereby piling more costs on households, offices, construction sites, and manufacturing plants."
It looks like the prices of goods and services will keep going up and up for the foreseeable future. Get ready to pay more for everything you buy. Better stock up now before essentials become unaffordable.
Join our discussion group: t.me/BankrunCanada
"Unlike gasoline, diesel doesn’t impact most consumers directly at the pump; it hits them indirectly. This price spike adds cost pressures on truckers who pass them on essentially to everything that is moved by truck, namely just about all goods sooner or later, and to whoever ends up paying for those goods, thereby piling more costs on households, offices, construction sites, and manufacturing plants."
It looks like the prices of goods and services will keep going up and up for the foreseeable future. Get ready to pay more for everything you buy. Better stock up now before essentials become unaffordable.
Join our discussion group: t.me/BankrunCanada
Wolf Street
Gasoline & Diesel Prices Spike to New WTF Records, But Don’t Blame Crude Oil
Predictions a few weeks ago of peak gasoline prices have been obviated by the inflationary mindset.
👍1🔥1
https://www.bullionstar.com/blogs/ronan-manly/lack-of-audits-undermine-lebanons-claim-to-be-middle-east-gold-heavyweight/
"...it’s difficult to say which is worse, not being able to prove a claim that you have 100s of tonnes of gold stored domestically, or not being able to prove if the other 100s of tonnes of gold which you claim was entrusted to the New York Fed is actually still there. But unfortunately for the citizens of Lebanon, the Lebanese central bank ticks both boxes."
When the consequences of hyperinflation are in full bloom and when gold is needed the most, many people will finally realize that politicians and their central bankster overlords have been lying about official gold reserves the entire time.
Join our discussion group: t.me/BankrunCanada
"...it’s difficult to say which is worse, not being able to prove a claim that you have 100s of tonnes of gold stored domestically, or not being able to prove if the other 100s of tonnes of gold which you claim was entrusted to the New York Fed is actually still there. But unfortunately for the citizens of Lebanon, the Lebanese central bank ticks both boxes."
When the consequences of hyperinflation are in full bloom and when gold is needed the most, many people will finally realize that politicians and their central bankster overlords have been lying about official gold reserves the entire time.
Join our discussion group: t.me/BankrunCanada
BullionStar Singapore
Lack of audits undermine Lebanon’s claim to be Middle East gold heavyweight
With external auditors blocked by the central bank from viewing the supposed gold holdings, the Banque of Liban's reputation lies in ruins.
https://www.zerohedge.com/markets/widespread-us-diesel-shortages-send-crack-spreads-mindblowing-highs
"any increase in diesel production is unlikely to be able to reverse the depletion of inventories fully and return them to pre-pandemic levels. Prices will therefore have to continue rising until they begin to restrain consumption or the economy enters a cyclical downturn."
A "cyclical downturn" is a nice way of saying that the economy will crash and burn. I am betting on the economy crashing and burning while the prices of diesel and gasoline will keep rising due to hyperinflationary forces having been unleashed.
Join our discussion group: t.me/BankrunCanada
"any increase in diesel production is unlikely to be able to reverse the depletion of inventories fully and return them to pre-pandemic levels. Prices will therefore have to continue rising until they begin to restrain consumption or the economy enters a cyclical downturn."
A "cyclical downturn" is a nice way of saying that the economy will crash and burn. I am betting on the economy crashing and burning while the prices of diesel and gasoline will keep rising due to hyperinflationary forces having been unleashed.
Join our discussion group: t.me/BankrunCanada
Zerohedge
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
🔥3
With stock markets crashing, the FFR (Federal Funds Rate) will most likely be slashed back to 0% in the very near future. If the FED keeps hiking rates, stock indexes would crash to almost 0. This cannot be allowed to happen. Therefore, the FED will (soon) start printing $Trillions upon $Trillions to "save" the fake market. Get ready for Venezuela-style hyperinflation in goods and services when the FED pivots back.
Join our discussion group: t.me/BankrunCanada
Join our discussion group: t.me/BankrunCanada
😱1
The huge bubbles in stocks and bonds was the result of the actions of the FED blowing them up with their endless currency creation and 0% interest rates. It is hard to imagine that traders believed that stocks will keep going up even with the FED doing the opposite. It won't be long now before the whole system implodes. When that happens, God help us all.
Join our discussion group: t.me/BankrunCanada
Join our discussion group: t.me/BankrunCanada
🔥1
Many people were warning about this centralized shitcoin and the dangers of buying into this scam. It was entirely predictable that this crap will go to zero at some point. Where are you LUNA shills? Jumping out of windows? You should have listened to the warnings. The same will happen to all the other centralized shitcoins proliferating the "crypto" landscape.
RIP LUNA!
Join our discussion group: t.me/BankrunCanada
RIP LUNA!
Join our discussion group: t.me/BankrunCanada
😱1
The CPI print is out today and it's a doozy. Even with the fake numbers the government publishes, prices are rising at the fastest rate since the 70's/early 80's.
The FED's exponential currency creation was fun while it lasted but now we will have to deal with the consequences of those actions.
Join our discussion group: t.me/BankrunCanada
The FED's exponential currency creation was fun while it lasted but now we will have to deal with the consequences of those actions.
Join our discussion group: t.me/BankrunCanada
https://www.zerohedge.com/markets/powell-sees-more-pain-ahead-admits-soft-landing-out-feds-control
"Powell: Five words or less. I’m gonna go with what I really am thinking is, 'get inflation back under control.'”
It looks like the FED is committed to keep raising interest rates. It will be interesting to watch how low they will allow the stock market to plunge before Powell steps in and does a U-turn.
Join our discussion group: t.me/BankrunCanada
"Powell: Five words or less. I’m gonna go with what I really am thinking is, 'get inflation back under control.'”
It looks like the FED is committed to keep raising interest rates. It will be interesting to watch how low they will allow the stock market to plunge before Powell steps in and does a U-turn.
Join our discussion group: t.me/BankrunCanada
ZeroHedge
Powell Sees More "Pain" Ahead, Admits 'Soft Landing' Is 'Out Of Fed's Control'
“So the question whether we can execute a soft landing or not, it may actually depend on factors that we don’t control.”
We're *almost* there...the time when prices will go parabolic. This is why the FED is signalling that they will stubbornly keep raising the FFR, no matter the consequences of a crashing stock market, RE market, and the overall economy. They can see this chart and are very afraid of losing their grip on humanity.
Join our discussion group: t.me/BankrunCanada
Join our discussion group: t.me/BankrunCanada
Recently conducted poll by the Pew Research Center found that inflation was the #1 issue people in the US were worried about. With symbolic 50 bsp interest hikes from the FED, prices will just keep rising until close to 100% of people will cite it as "a very big problem".
Join our discussion group: t.me/BankrunCanada
Join our discussion group: t.me/BankrunCanada
"inflation...is likely to remain high into 2023."
👆inflation is likely to remain high until the currency loses all value. There I fixed it for him.
He also says that "a lot [is] at stake". I wonder what he's referring to.
Join our discussion group: t.me/BankrunCanada
👆inflation is likely to remain high until the currency loses all value. There I fixed it for him.
He also says that "a lot [is] at stake". I wonder what he's referring to.
Join our discussion group: t.me/BankrunCanada
From Investopedia 👇
"What Is Stagflation?
Stagflation is characterized by slow economic growth and relatively high unemployment—or economic stagnation—which is at the same time accompanied by rising prices (i.e., inflation). Stagflation can be alternatively defined as a period of inflation combined with a decline in the gross domestic product (GDP)."
The FED can debate all they want about the type of "landing" they want; however, this is now out of their control. There is no way out of the box the FED printed itself into. The fiat system was designed to destroy itself at some point.
Join our discussion group: t.me/BankrunCanada
"What Is Stagflation?
Stagflation is characterized by slow economic growth and relatively high unemployment—or economic stagnation—which is at the same time accompanied by rising prices (i.e., inflation). Stagflation can be alternatively defined as a period of inflation combined with a decline in the gross domestic product (GDP)."
The FED can debate all they want about the type of "landing" they want; however, this is now out of their control. There is no way out of the box the FED printed itself into. The fiat system was designed to destroy itself at some point.
Join our discussion group: t.me/BankrunCanada
https://www.stlouisfed.org/from-the-president/video-appearances/2022/bullard-yahoo-inflation-policy-rate
"Bullard noted that he has been advocating a policy rate of 3.5% by the end of the year. 'I think we’re going to have to do more than just get to neutral. We’re going to have to go above neutral in order to put downward pressure on the persistent component of this inflation,' he said."
The FED knows they HAVE TO raise rates (because of price rises getting out of control) but they also know that raising rates will destroy the economy including the stock market as the market is addicted to the FED's currency creation. This is why they are only raising rates by tiny increments. It is very much doubtful they will be able to raise rates above 1% for long, much less 3.5%. And the FFR even at 3.5% is quite laughable with inflation being much higher.
Join our discussion group: t.me/BankrunCanada
"Bullard noted that he has been advocating a policy rate of 3.5% by the end of the year. 'I think we’re going to have to do more than just get to neutral. We’re going to have to go above neutral in order to put downward pressure on the persistent component of this inflation,' he said."
The FED knows they HAVE TO raise rates (because of price rises getting out of control) but they also know that raising rates will destroy the economy including the stock market as the market is addicted to the FED's currency creation. This is why they are only raising rates by tiny increments. It is very much doubtful they will be able to raise rates above 1% for long, much less 3.5%. And the FFR even at 3.5% is quite laughable with inflation being much higher.
Join our discussion group: t.me/BankrunCanada
www.stlouisfed.org
Bullard Discusses Inflation and His Views on the Policy Rate with Yahoo Finance
St. Louis Fed President Jim Bullard shared his views on the latest inflation data and Fed action needed to put downward pressure on inflation. During an interview with Yahoo Finance, he also said that the probability of a U.S. recession is not particularly…
🔥1
https://bitcoinmagazine.com/markets/luna-foundation-sold-80000-bitcoin-amid-ust-crash
"The foundation said it began transferring bitcoin funds to a counterparty...As of May 16, LFG holds 313 bitcoin in reserves, out of 80,394 BTC it held on May 7."
I wonder who the "counterparty" is. This smells like an inside job to steal the 80k of Bitcoin from all the suckers holding LUNA and UST.
Join our discussion group: t.me/BankrunCanada
"The foundation said it began transferring bitcoin funds to a counterparty...As of May 16, LFG holds 313 bitcoin in reserves, out of 80,394 BTC it held on May 7."
I wonder who the "counterparty" is. This smells like an inside job to steal the 80k of Bitcoin from all the suckers holding LUNA and UST.
Join our discussion group: t.me/BankrunCanada
Bitcoin Magazine - Bitcoin News, Articles and Expert Insights
Luna Foundation Sold 80,000 Bitcoin Amid UST Crash
The non-profit organization said only 313 BTC are now left on the bitcoin reserves for Terra’s UST stablecoin.
https://www.zerohedge.com/markets/it-was-mistake-bernanke-says-feds-fear-shocking-market-delayed-tightening-move
Helicopter Ben has the gall to criticize other central banksters. What a douche. He's the idiot who flooded the world with more printed fiat than anyone could imagine (up until that time) and brought the FFR to 0. Now he's covering his ass and shifting the blame onto someone else.
"'There's a lot of support for the fact that the Fed is tightening now, even though obviously we see the effects in markets,' Bernanke said. 'You know, we'll see the effects in house prices, etc.'"
👆 Thanks Bernanke, for telling us house prices will take a big dump from the bubble you blew!
Join our discussion group: t.me/BankrunCanada
Helicopter Ben has the gall to criticize other central banksters. What a douche. He's the idiot who flooded the world with more printed fiat than anyone could imagine (up until that time) and brought the FFR to 0. Now he's covering his ass and shifting the blame onto someone else.
"'There's a lot of support for the fact that the Fed is tightening now, even though obviously we see the effects in markets,' Bernanke said. 'You know, we'll see the effects in house prices, etc.'"
👆 Thanks Bernanke, for telling us house prices will take a big dump from the bubble you blew!
Join our discussion group: t.me/BankrunCanada
ZeroHedge
"It Was A Mistake" - Bernanke Says Fed's Fear Of 'Shocking' The Market Delayed Tightening Move
"One of the reasons was that they wanted not to shock the market."
🤯1
Japan PPI (producer price index) came out today and it's very exciting. Japan has been one of the worst offenders in inflating their currency for the past decade or more. Looks like they have finally succeeded having said inflation being reflected in the worst price rises in 40 years.
Join our discussion group: t.me/BankrunCanada
Join our discussion group: t.me/BankrunCanada
🤔1